Treasurer- EWB Volunteer Board of Directors
1 day ago
- In collaboration with the CEO and Finance Manager, ensure that the organization has sufficient cash on hand for operations on a rolling 12-month basis.
- Review quarterly financial reports for red flags, risk areas, or leading indicators of financial distress. Raise concerns with the CEO and Finance & Audit Committee and support the development of corrective action plans.
- Ensure the organization's long-term financial plan aligns with its strategic goals, including capital expenditures, cash flow management, and sustainability.
- Collaborate with the CEO and Finance & Audit Committee to identify financial risks and develop strategies for mitigation, including analyzing the financial impact of external economic factors.
- Ensure that quarterly financial reporting is prepared accurately (in accordance with GAAP) and shared with the Finance & Audit Committee in a timely manner.
- Support Management's presentation of detailed financial results at quarterly board meetings by providing key commentary and fielding questions from Board members.
- Work in collaboration with the CEO and Finance Manager to ensure the annual budget is prepared on time with reasonable assumptions and appropriate sensitivities for unknown factors.
- Participate in presenting the budget to the Board of Directors, providing commentary and fielding questions on behalf of the Finance & Audit Committee.
- Ensure compliance with legal and regulatory financial practices, including oversight of the annual T3010 filing and semi-annual GST/HST rebates
- Work with the CEO and Finance Manager to ensure strong internal financial controls are in place to prevent fraud or misuse of funds.
- Periodically assess the efficiency of financial operations and recommend improvements, including the adoption of new financial tools or processes.
- Review audited financial statements and liaise with external auditors to ensure Management provides all requested information promptly.
- Work with the CEO to remediate any significant audit findings.
- Oversee the review and selection of the organization's external auditors as needed.
- Recommend and assist Management with the development of financial policies and procedures.
- Support the Board to obtain financial training and education as-needed for Board members to enhance their understanding of financial reports and improve Board-level financial discussions.
- Develop a succession plan to ensure continuity in financial leadership when transitioning to a new Board Treasurer.
The ideal candidate holds a CPA designation or has equivalent professional accreditations (e.g., CFA, or equivalent experience in a financial leadership position). Board members are nominated and elected by the membership at the EWB Annual General Meeting to serve for a three-year (3) term. Directors may choose to remain on the Board for up to six (6) consecutive additional terms of one (1) year. Time Commitment The Board treasurer is expected to:
- Attend 2-day quarterly board meetings (Virtually via Zoom)
- Meetings are typically held on a Sunday and Monday
- 4-5 hours each day
- Lead monthly Finance and Audit Committee Meeting
- Meetings are typically 1 hour in length
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