Board Member for South Herts Credit Union

Welwyn Hatfield Community And Voluntary Services Limited; Watford; On-site; GBP 80,000 - 100,000; Full time

Job summary

A community financial organization in Watford seeks volunteers for its Board, including roles such as Treasurer, Compliance Officer, and Secretary. The commitment involves 2-3 hours per week, mostly during weekdays. Volunteers will help ensure the financial stability of the community through various oversight roles, including compliance and policy monitoring. This opportunity is open to a diverse age group, supports wheelchair access, and involves a DBS check.

Qualifications

• Relevant qualification or training is required.
• A criminal record check (DBS) will be required.

Responsibilities

• Checks that the policies and procedures are being carried out properly.
• Monitors financial record keeping.
• Ensures compliance with regulations from authorities.

Job description

Overview

Watford Credit Union are looking for volunteers to join their Board. They have a range of roles available which include Treasurer, Money Laundering Officer, Compliance Officer and Secretary. The Credit Union provides safe easy savings which includes great value loans, Christmas savings account and free life insurance for most savings and loans. To continue this unique public benefit, they need committed people who are willing to give 2-3 hours or more per week, this would normally be during the day to early evening. You would be helping to provide a vital service for those whose financial stability is affected by our uncertain times.

Opportunity Type

Long-term Commitment

Location

District: Hertsmere, Watford
Location: Indoor
Time of day: Weekday Mornings, Weekday Afternoons, Weekday Evenings

Board of Directors

The Board of Directors decides on policies and future plans of the Credit Union, monitors the implementation of these policies and plans, and is responsible for all aspects of the running of the Credit Union. The Board has an evening meeting once a month to discuss reports from the Chair, the Treasurer, the Credit Control Officer, the Secretary, and from the two standing committees (see below), and to make policy and operational decisions. It should also be noted that in a small credit union like ours, with no paid staff, many day-to-day tasks are carried out by Board and Credit Committee members, so the time commitment may be quite large.

Roles and Responsibilities

• Supervisory Committee: Checks that the policies and procedures of the credit union are being carried out properly, particularly the financial record-keeping. It meets at times that suit the committee members. Maximun 3 members, at least 1 elected at each AGM.
• Anti Money Laundering Officer: Checks on payments in and out for money laundering, fraud. Checks for payments to sanctioned terrorists and PEPs (politically exposed people).
• Compliance Officer: Checks the credit union complies with all the regulations from the PRA, FCA, Industrial & Provident Society and ABCUL. All the above have some authorisation from the PRA and FCA.
• Data Protection Officer: Registered with the ICO. Checks compliance with Data Protection Rules.
• Credit Committee: The Committee considers and decides on loans. At present some or all committee members meet on Monday and Wednesday afternoons. There is also a Loans Officer who can deal with emergency loans, and with normal loans if members of the Credit Committee are unavailable.

Requirements

• Relevant qualification or training
• Will require a criminal record check (DBS)

Suitable for

• 18 – 25 year olds
• Aged 26 and over
• Older People
• People with restricted mobility

Suitable for volunteers interested in

• Trusteeship & Governance

Equity & Accessibility

Does this opportunity provide wheelchair access?: Yes