Treasurer- EWB Board of Directors

remote
Toronto, Ontario, Canada .
volunteer . October 28, 2024

Description

Engineers Without Borders Canada's (EWB) mission is to create systemic change through community-driven collaboration. We mobilize the engineering community and leverage technological innovation to address global challenges, including the cause and effects of Climate Change and Climate adaptation in Canada and beyond.

Our vision is to engineer an equitable, sustainable future for marginalized communities and our planet. We are working towards this vision by optimizing impact by addressing urgent global issues, leveraging evolving engineering knowledge, localizing partnerships, and amplifying voices for change.

EWB Canada unites students and professionals, fostering growth in knowledge and leadership to address urgent global and local challenges. Our Engineering/STEM Chapter Members drive social change within their communities and institutions across Canada, from grassroots initiatives to influencing government policies, effecting change at every level.

Role:

The Board Treasurer (Volunteer) oversees the management of the organization’s finances, ensures the organization is financially responsible, and supports the CEO in financial decision-making. The Treasurer plays a critical role in ensuring the organization's long-term financial sustainability and mitigating risks.

Responsibilities of the Board Treasurer:

Financial Health:

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.

Risk Management:

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.

Financial Reporting:

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.

Budget Development:

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.

Compliance Oversight:

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.

Audit Oversight:

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.

Policy Development:

Recommend and assist Management with the development of financial policies and procedures.

Board Engagement:

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.

Treasurer Term and Succession Planning:

The Board Treasurer is expected to serve a minimum term of one (1) year.
Develop a succession plan to ensure continuity in financial leadership when transitioning to a new Board Treasurer.

Terms of Reference

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

Know someone who would be a perfect fit? Let them know!