Finance Trustee - The Buddy Bag Foundation

The Buddy Bag Foundation is an award winning charity seeking a Finance Trustee to sit on our well established Board of Trustees. BBF is dedicated to restoring a sense of safety and love for children in emergency accommodation having fled domestic abuse.

Who we are

The Buddy Bag Foundation provides children entering emergency care with essential items having fled domestic abuse and coercive control situations. We provide women’s refuges and other emergency accommodation locations with our age specific Buddy Bags which contain twelve essential items, including toiletries; underwear; a book; and of course a knitted toy.

The role

BBF is seeking a finance professional to sit on our Board of Trustees to work with our external accountants to oversee the financial governance of the Buddy Bag Foundation, ensure robust financial management and reporting, and to lead in providing strategic financial oversight in accordance with UK charity governance.

The role is designed to ensure that the BBF’s resources are effectively managed to support its mission of providing emergency items to children entering emergency care.

Person Specification

Qualifications:

• Professional qualification in finance, accounting, or a related field (e.g., ACA, ACCA, CIMA).
• Experience in a financial role within business – previous experience as a Trustee or within a UK charity or nonprofit is desirable but not essential.

Skills and Experience:

• Experience in financial management.
• Understanding of UK charity finance, including SORP, Gift Aid, and regulatory requirements from the Charity Commission.
• Experience in leading committees or teams is desirable, with demonstrable leadership and decision-making skills.
• Excellent communication skills, with the ability to present financial information clearly to non-financial stakeholders.
• Strategic thinking with the ability to contribute to broader organisational goals, particularly in a charity focused on vulnerable children.

Personal Attributes:

• Commitment to the foundation’s mission and values.
• Integrity and high ethical standards.
• Collaborative and able to work effectively within a diverse team.
• Proactive and willing to challenge and support the Board and executive team.

The Role

In addition to joining bi-monthly Board of Trustee meetings (either remotely or in the West Midlands), the key tasks of the Finance Trustee are set out below.

Financial Governance:

• Lead the Financial Sub-Committee in reviewing and monitoring the Buddy Bag Foundation’s financial performance.
• Work with the external accountant team to develop financial strategies that ensure the sustainability of the foundation’s activities.

Budgeting and Financial Planning:

• Oversee the preparation and approval of the annual budget, ensuring it aligns with the foundation’s strategic objectives, particularly in maintaining the continuity of providing emergency essentials to children.
• Monitor reporting in respect of cash flow, financial risks, and reserves in line with the foundation’s reserves policy, advising the Board on any necessary actions.
• Ensure financial planning accounts for the potential impacts of UK-specific economic conditions and the volatility of donation-based income.

Reporting and Compliance:

• Ensure timely and accurate financial reporting to the Board, funders, the Charity Commission, and HMRC as required.
• Oversee the preparation of the foundation’s annual accounts, ensuring they are prepared in accordance with the UK Statement of Recommended Practice (SORP) and are audited or independently examined as required.
• Monitor compliance with financial policies, procedures, and legal obligations specific to UK charities, with a focus on transparency to maintain donor trust.

Strategic Contribution:

• Provide financial insight and advice to the Board on matters affecting the foundation’s financial health.
• Contribute to the overall strategic direction of the foundation as a member of the Board.

Leadership:

• Lead on financial strategy and reporting, ensuring productive meetings and effective decision-making.
• Mentor and support other trustees in understanding financial matters, particularly within the context of UK charity regulations and the foundation’s mission.