Volunteer Board Finance Director

At LabReNew, our volunteer Board of Directors reflects the diverse community we serve and is integral to advancing our mission of sustainability in the scientific community. The Board oversees the organization’s day-to-day operations, fundraising, communications, and marketing efforts. Directors collaborate closely with fellow board members to implement strategic plans and fulfill our commitment to sustainable practices. We believe that fostering an inclusive and diverse environment is essential to achieving true sustainability. By embracing varied perspectives and experiences, we enhance our ability to drive meaningful change and support laboratories in their journey toward sustainable research practices.

The Director of Finance & Accounts is a vital leadership position responsible for overseeing all financial aspects of LabReNew. This role is crucial at the current stage of the organization’s growth, ensuring sound financial planning, budgeting, and accounting practices to support its strategic objectives. As a board member, the Director will play a key role in developing and finalizing strategic plans, business plans, and annual budgets, ensuring that the organization maintains financial stability and transparency. This role requires a seasoned finance professional with a deep understanding of financial management, accounting compliance, and strategic planning.

Primary Responsibilities:

• • Oversee the financial operations of the organization, including budgeting, financialplanning, accounting, and reporting, ensuring compliance with all regulatory and accounting standards.
  • Collaborate with the Board tofinalize strategic and business plans, providing financialinsights to support decision-making and long-term growth.
  • Manage the annual budgeting process, ensuring alignmentwith the organization’s goals and ensuringefficient financial management across all activities.
  • Ensure accurate financial reporting, including monthly management accounts, year-end financials, and key financial analyses to support business development and fundraising strategies.
  • Support the organization’s growthand sustainability by identifying opportunities for financial efficiencies and demonstrating value for money in all activities.

Key Tasks:

• • Oversee the preparation and review of financial reports,including budget performance and trends analysis, to inform strategic planning and operational decisions.
  • Lead the annual budgetingprocess, ensuring timely and accuratepreparation of financial information to support the organization’s strategic and business goals.
  • Provide financial oversight and advice for funding applications, grant proposals, silentauctions, and bids, ensuring the organization meets its income generation targets.
  • Ensure compliance with accounting standards and taxationregulations, overseeing all financial procedures, and ensuring that financial reports are accurate and transparent.
  • Collaborate with fundraising teamsto prepare meaningful financial reports for funders, demonstrating effective financial management of projects and charitable activities.
  • Commit to attending 4-6 board meetingsper year (virtually or in-person) and actively participate in decision-making processes related to financial matters.
  • Ensure the efficient preparation of the organization’s financial accounts, including year-end processes, key account reconciliations, and audits as required.
  • Commit to a 3-year term on the board, renewable upon expiry, with attendance at a minimumof 4 board meetings and one Annual General Meeting each year.
  • Abide by conflict-of-interest guidelines and ensure transparency in all financialdealings, maintaining the highest standards of governance.

Other Key Responsibilities Include:

• • Provide strategic financial leadership to the Board, ensuring the organization is financially secure and sustainable in the long term.
  • Promote and uphold LabReNew’s values of inclusivity, diversity, and community service in all financial planning and management activities.

This Director role offers the opportunity to leadthe financial direction of LabReNew, ensuring it remains sustainable, accountable, and positioned for long-term impact.