Role Description
The Finance, Grants and Investment Committee
The Finance, Grants and Investment Committee (FGI) is a sub-committee of the Board responsible for overseeing all matters related to the financial, grant and investment strategy, including related policies, the assessment and oversight of grants and investments, and the ongoing review of grant outcomes and investment results in line with achieving Fair4All Finance’s objectives. The Committee is currently chaired by Jennifer Rademaker.
https://fair4allfinance.org.uk/about-us/#whoweare
We are looking to appoint an independent member to bolster the Committee’s diverse expertise, and who is passionate about our mission of improving the financial resilience of people in financially vulnerable circumstances. We are looking for someone with significant experience in unsecured lending and consumer credit, ideally from the community finance sector or from a consumer lender with a subprime and/or near-prime lending portfolio.
Whilst this is not a full non-executive director Board role it provides the opportunity to be involved in this important committee which is a fundamental element of the governance arrangements for FairFair4All Finance Limited.
Key Responsibilities
To work as a team with the other Committee members, non-executive directors, the CEO and senior team members.
As a member of the Committee to support it in its responsibilities for:
Finance
- Reviewing major financial decisions made by the executive team.
- Reviewing the Company’s budget, financial plan and proposed funding drawdowns and make recommendations to the Board as appropriate.
Treasury
- Reviewing the Company’s treasury policies and approach and make recommendations to the Board as appropriate.
- Meeting with the Company’s treasury and investment management team/advisors (if relevant) at least once a year to discuss treasury performance.
Investments and grants
- Ensuring the effectiveness and appropriateness of the Company’s investment and grant policies and procedures.
- Regularly reviewing the pipeline of investment and grant proposals and providing input to the executive team on investment prioritisation.
- Reviewing and constructively challenging investment and grant proposals being considered by the Company in advance of making recommendations to the Board for their This will include pre-due-diligence assessment of future investments to assess the strategic fit with the Company’s aims.
- Evaluating investment proposals where the proposal changes significantly over time or there is a material issue that requires consideration and guidance from the Committee.
- Providing feedback to the Executive Team on broader investment and grant issues, themes and external environment/considerations.
Valuation
- Reviewing the effectiveness and appropriateness of the Company’s approach to measuring and monitoring the social impact of the investments made.
- Regularly reviewing how the Company’s portfolio of investments are performing against the original investment aims from an overall, financial, impact on people/sector/society and systems change perspectives.
- Reviewing the financial valuation of each investment as it will be reported in the Company’s financial accounts.
- Providing feedback to the Executive Team on the effectiveness of the FG&I strategy in achieving expected outcomes.