Role Title: Treasurer

Organisation: Thamesbank Credit Union

Sector: Charity and not for profit

Salary: Unremunerated

Hours: Part time

Looking to give back to your community? We are currently looking for a volunteer Treasurer to oversee the finances of our organisation. We are a successful credit union operating in South West London that is forward looking and puts our members at the heart of everything we do.

Who is Thamesbank Credit Union?

Thamesbank Credit Union is a not-for-profit financial cooperative, owned and run by our members. We provide safe savings and affordable loans to our members, the people who live and work in the London Boroughs of Hounslow, Richmond upon
Thames, Ealing, Kingston Upon Thames, Wandsworth and the Borough of Spelthorne. We have been providing ethical financial services for over 16 years, supporting our members to save and borrow and avoid loan sharks and unaffordable credit providers. Like all credit unions in the UK, we are a non-profit company with surpluses returned to members each year.

Thamesbank is governed by a board of volunteer directors on behalf of our members. As Treasurer you will be a key board member as well as working closely with our finance team to ensure that Thamesbank is financially robust and well positioned to deliver fair and competitive financial services. This is an exciting time to participate in the development of Thamesbank and use your skills and experience to help us meet our strategic goals.

Credit unions are regulated businesses and directors are responsible for setting the strategic direction of the organisation, ensuring it meets its regulatory duties as well as monitoring its day-to-day business and contributing to its success.

Roles and responsibilities

The role of Treasurer involves the following:

• Oversight of financial processes, policies, and procedures
• Working with key staff from our outsourcing provider Credit Union Solutions (CUS) to monitor financial performance on monthly basis and prepare a monthly Finance Board Report as well as producing an annual budget for approval by the board.
• On an ad hoc basis analyse and as appropriate approve large loan applications.
• Approve invoices for payment.
• Be responsible for the Flagstone Cash Management process and for investing Thamesbank’s excess liquidity.
• Be responsible for the financial health and stability of the credit union.
• Assist the board in business planning and development.
• Ensure the credit union meets its regulatory requirements including accurate and timely reports to the regulators.
• Lead the Finance sub-committee of the Board.
• Work with key CUS and Thamesbank staff to manage external audit.

What we need from you:

• An understanding of credit unions / mutuals or an interest in developing this knowledge – training will be provided as part of this role.
• Experience in finance, financial services and/or accounting.
• Communication skills including leading discussions, presenting information, in an accessible way and using your expertise to constructively challenge when needed.
• Be non-judgmental and respect views, values and cultures that are different to your own. Time to invest in carrying out this role.
• All candidates must be either a current member of Thamesbank Credit Union or willing to become a member. In practice that means that all candidates must live or work in one of our boroughs.

What you’ll get from this role:

  • You will help Thamesbank make a positive impact on our members in the local communities that we serve.
  • You will improve your skills at a strategic level, widen your knowledge and governance experience and expand your network with other ethical professionals.

Application notes

If you would like to apply or find out more about the opportunity please contact the Secretary, Thamesbank Credit Union – secretary@thamesbank.org.

To find out more about Thamesbank please visit our website.

This opportunity is available to external applicants and existing volunteers aged 18+.