CEE Board Treasurer & Chair, Finance, Audit & Risk Committee (FARC)

Role Overview

The Treasurer and Chair of the Finance, Audit, and Risk Committee (FARC) plays a critical leadership role on CEE’s Board of Directors. The role ensures sound financial oversight, strong risk management, and accountable governance aligned with CEE’s mission to support the advancement and economic empowerment of young Black professionals.

As a Board member, the Treasurer contributes to strategic decision-making, helps shape Board meeting agendas, and serves as a key advisor on the financial implications of organizational priorities. This is a volunteer Board position, and the Treasurer also serves in the capacity of CEE’s volunteer Treasurer, supported by the Executive Director (ED) and Director of Finance.

General Responsibilities as a Board Member

• Fulfill all duties outlined in CEE’s Board Member role description.
• Act in the best interests of the organization and its mission.
• Help develop Board meeting agendas related to financial, audit, or risk matters in collaboration with the Board Chair and ED.
• Participate fully in Board meetings, strategic sessions, and retreats.
• Provide governance-level oversight while partnering appropriately with staff leadership.

Treasurer & FARC Chair Responsibilities

1. Financial Oversight

• Provide strategic financial leadership and ensure the Board receives clear, timely financial information.
• Review, interpret, and present monthly/quarterly financial statements, forecasts, and variance analyses.
• Support and advise on the development of the annual operating and capital budgets.
• Ensure appropriate internal controls, financial policies, and reporting systems are in place.
• Monitor organizational performance against approved budgets and highlight emerging risks or opportunities.
• Advise the ED and Director of Finance on financial strategy, sustainability, and trends affecting the organization.

2. Collaboration With Finance Staff

• Act as the primary liaison between the Board and CEE’s financial leadership (Director of Finance, ED, and relevant staff).
• Maintain a partnership-based working relationship with staff while respecting operational boundaries.
• Seek clarification from staff on financial risks, pressures, forecasts, and opportunities to support Board-level decision-making.
• Ensure that the Finance team is adequately resourced and supported to meet reporting requirements.

3. Compliance & Reporting

• Ensure CEE meets all financial regulatory requirements including CRA filings, ONCA (or Canada NFP Act) reporting, and annual returns.
• Oversee the annual audit or review engagement, including auditor selection and evaluation.
• Support the timely preparation and presentation of audited financial statements to the Board.
• Monitor progress on audit recommendations and internal control enhancements.

4. Audit & Risk Oversight (FARC Chair Role)

• Lead the Finance, Audit & Risk Committee in developing annual work plans, priorities, and meeting agendas.
• Facilitate at least eight FARC meetings per year, ensuring informed discussions and clear recommendations.
• Assess organizational risks (financial, operational, legal) and ensure mitigation strategies are in place.
• Recommend investment, reserve, banking, and debt strategies within Board-approved guidelines.
• Ensure CEE maintains appropriate insurance coverage for the organization and its Directors & Officers.

5. Board Governance and Leadership

• Help develop Board meeting agendas, particularly regarding financial strategy, audit oversight, or risk decisions.
• Report committee findings and recommendations to the Board in a clear and actionable format.
• Support recruitment and onboarding of new FARC members.
• Foster a transparent and collaborative culture across the committee and Board.

Qualifications

• Professional designation:
  • CPA strongly preferred, but candidates with a CFA or other relevant financial credentials are also welcomed.
• Minimum three years of experience serving on a Board (nonprofit or corporate) is preferred.
• Proven experience interpreting financial statements and overseeing budgets.
• Understanding of or willingness to learn nonprofit finance, CRA regulations, and ONCA/NFP requirements.
• Demonstrated leadership experience in committees, financial strategy, risk management, or audit oversight.
• Strong integrity, sound judgment, and commitment to CEE’s mission.
• Availability to provide appropriate oversight and attend meetings (approx. 5–7 hrs/month).

Term of Office

• Appointed at CEE’s Annual General Meeting for a two-year term.
• Renewable up to three consecutive terms.

Time Commitment (5 to 7 Hours)

• Bi-monthly Board meetings.
• Minimum eight FARC meetings annually.
• Review of financial reports and audit materials before meetings.
• Regular communication with the ED and Director of Finance.
• Participation in CEE community events and stakeholder engagements.