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Voluntary role at Board member and Chair of the Finance, Risk and Audit Committee

This position is appointed by the Board to fill a casual vacancy for a three year term, with the ability to seek reappointment for up to nine years.

The role is responsible for fulfilling the Finance, Risk and Audit Committee’s terms of reference, primarily to assist the Board in maintaining a sound corporate governance framework and undertaking its fiduciary duties and responsibilities.

The role leads a Committee of a minimum of three members.

The Chair is responsible for leading the following tasks:

• Reviewing and advising the Board on the Library’s financial management and financial sustainability
• Reviewing and evaluating internal control policies and procedures to prevent and detect fraud, errors and misstatements
• Preparing and advising on financial reporting to the Board and external authorities, including advising on accounting principles and policies impacting the financial statements
• Considering and overseeing any action required from external audit reports
• Determining if an internal audit is necessary and overseeing any action required
• Overseeing the Library’s risk management framework and processes
• With the Board Secretary, evaluating the adequacy and effectiveness of legal and regulatory compliance control and reporting systems.

Terms of reference for the Committee are available on request.

Approximately seven Board meetings are held a year. In addition, the FRA Committee is to meet approximately 4-6 times a year with tasks arising from meetings to be scheduled according to the Chair and Committee members’ discretion. Meetings can be in person or online.

The following experience is required:

• Demonstrated risk management experience at a senior level
• Skills and experience with governance and compliance frameworks combined
• Strong financial management and accounting knowledge with either internal or external audit experience