Executive Committee / Financial Management Committee (FMC)
DESCRIPTION OF POSITION:
The Chair of FMC also serves as the Treasurer of NCURA and is responsible for the fiscal oversight of NCURA. This position leads the FMC in its yearly agenda. The Treasurer is an officer of NCURA and as such also serves on the Executive Committee and the Board of Directors.
DURATION:
The Chair of FMC/Treasurer shall serve a two-year term, beginning during odd-numbered years. The commitment also includes an initial one-year term as Treasurer-Elect and an additional one-year term as Past Treasurer on the FMC. Total commitment – 4 years.
- Function of Position - Treasurer: The Treasurer is the Chief Financial Officer of the Council. The position is responsible for coordinating the budget process, the investment of funds, the development of fiscal policies and plans, the oversight of the Council's financial records and accounts, and in general overseeing all other financial activities within the organization.
The Chair of the FMC is responsible for leading the Financial Management Committee. The Chair coordinates all activities of the FMC throughout the year. The Chair of the FMC /Treasurer updates both the Exec. Committee and the Board on FMC issues.
- Essential Duties and Responsibilities & % Time Devoted - The Treasurer is a member of the Executive Committee. In this capacity, the position meets with the other Executive Committee members approximately 4 times/year, and with the Board of Directors at least twice yearly. A majority of activities are conducted via e-mail and through conference calls. The Treasurer, with the guidance of the FMC, presents the Board the annual budget, investment summaries, financial policies and procedures, and any other financial issues that need discussion by the Board. The Treasurer time commitment averages approximately 2.0 days/month.
The Chair meets with the FMC at last 2 times annually and conducts a majority of their business using e-mail and conference calls. This commitment averages approximately 1 day/month.
Total commitment averages 3.0 days a month.
- Qualifications/Requirements
- Knowledge and/or Skills – Facilitation skills are needed to work with the Executive Committee and Board on financial issues.
- Education and/or Experience – Accounting degree, CPA, MBA are all preferred qualifications. Financial expertise is mandatory to perform required tasks. Experience with developing budgets, investments, and financial management issues are preferred.
- Training and Support - As an Officer of NCURA, the Chair of the FMC/Treasurer participates in an orientation workshop for Executive Leaders sponsored by ASAE. In addition the Board provides training for new members with a session facilitated by a professional consultant as part of its first meeting each year. The national office finance staff also supports the Chair/Treasurer with all tasks. The national office staff and outside investment consultants support the Chair/Treasurer in the area of investments.
- Additional Information (Benefits, Cost Reimbursement, Travel Requirements, etc) - All mandatory Treasurer and Chair of FMC travel to meetings not held in conjunction with other events will be reimbursed by NCURA. In addition, Annual Meeting registration and lodging will be covered by NCURA. The Treasurer’s institution also is provided a $500 reimbursement to assist with local costs incurred (i.e., telephone calls).
- NCURA Awards: Current National officers (President, Vice President, Secretary and Treasurer) and current NCURA Standing Committee (FMC, NLDC and PDC) Chairs and Vice Chairs are ineligible for nomination for an NCURA Outstanding Achievement in Research Administration Award or for a Distinguished Service Award.
