University of London — Independent Member of the Board of Trustees (Finance & Audit)

The University of London is seeking an Independent Member of the Board of Trustees who will demonstrate proven audit and finance skills gained in the private, public, or voluntary sectors to provide scrutiny and advice to the Board and executive team. (Deadline: 8 March)

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About

The University of London is the UK’s leading provider of digital and blended distance education internationally. Although proudly rooted in London, its community and impact are global, and it offers programmes to 45,000 students from 190 countries around the world. The University of London is also a federation of 17 esteemed higher education institutions, with collaboration at the heart of its ethos. The federation is a collective community of more than 240,000 learners and 50,000 staff, delivering world-leading research across all disciplines.

Founded in 1836 to promote access to higher education, the University of London pioneered distance learning in the days when railways and steamships were the pinnacle of transportation. The University was in the world to admit students regardless of their gender, race or religion, and, in 1878, it became the first UK university to award degrees to women. Improving access and equality of opportunity remains its mission to this day.

The University’s 2020–2025 Strategy ‘Transforming Education…Creating Futures’ is an ambitious academic vision for a digital age. Through it the University of London wants to draw on the expertise of its Member Institutions, leverage its collective power as a federation and cement its position as an anchor institution in London, supporting the communities around it.


Role specification

The Board of Trustees is governing body of the University, which exercises guardianship over assets and resources, ensuring their effective management, control and use.

The principal responsibilities of the Board are:

  1. To approve and monitor the University’s long-term and strategic plans, including key performance indicators, to ensure that these meet the interests of the University’s stakeholders and beneficiaries and, where possible and appropriate, are benchmarked against other comparable institutions
  2. To appoint the Vice-Chancellor as the principal officer of the University and the Office for Students Accountable Officer, and to put in place suitable arrangements for monitoring his / her performance
  3. To delegate authority to the Vice-Chancellor for the effective corporate, financial, estate, and human resource management of the University
  4. To establish and keep under regular review the policies, procedures and limits within such management functions as shall be undertaken by, and under, the Vice-Chancellor’s authority
  5. To ensure the establishment and monitoring of systems of control and accountability, including financial and operational controls, risk assessment and management, and procedures for handling internal grievances and for managing conflicts of interest
  6. To establish processes to monitor and evaluate the performance and effectiveness of the Board of Trustees and the University’s system of governance
  7. To conduct its business in accordance with best practice in higher education corporate governance, and with the principles of public life drawn up by the Committee on Standards in Public Life, and with due regard to the Charity Commission’s guidance on public benefit
  8. To safeguard the good name and values of the University
  9. To appoint a Secretary to the Board of Trustees, who will be the University Secretary, and to ensure that, if the person appointed has managerial responsibilities, there is an appropriate separation in the lines of accountability
  10. To be the employing authority for staff in the University and to be responsible for establishing a human resources strategy
  11. To be the principal financial and business authority of the University, to ensure that proper accounts are kept, to approve the annual budget and financial statements, and to have overall responsibility for the University’s assets, property and estate
  12. To be the University’s legal authority and, as such, to ensure that systems are in place for meeting all the University’s legal obligations, including those arising from contracts and other legal commitments made in the University’s name
  13. To act as trustee for any property, legacy, endowment, bequest or gift in support of the work and welfare of the University, and to fulfil the requirements and obligations of charity law as they apply to the University
  14. To ensure that the Statutes and Ordinances are followed at all times, and that appropriate advice is available to enable this to happen

Person specification

The University of London is seeking an Independent Member of the Board of Trustees who will demonstrate proven audit and finance skills to provide scrutiny and advice to the Board and executive team.

Applicants for this role are expected to demonstrate senior strategic experience in finance and audit gained in the private, public, or voluntary sectors. The University is particularly keen to hear from candidates who have experience of shaping long-term financial strategies in a similarly complex organisation and will have demonstrable audit experience. They will ideally have an accounting qualification and will bring an understanding of the complexity of the political and economic context in which the University operates.  Experience of UK real estate, funding, treasury and / or corporate risk would be desirable. The University welcomes applications from individuals who do not have prior non-executive experience.

The successful candidate will have an ability to think critically and independently with a collegiate and supportive approach. they will be able to take a university-wide vision, rising above functional or disciplinary concerns or the agendas of interest groups. Above all, they will bring a strong commitment to higher education and to the goals and objectives of the University of London.


Board composition

A list of current Trustees can be found here


Terms of appointment

The Board of Trustees typically meets six times per year, usually between 4-6pm. There is also often an away day linked with the October meeting. Additionally, the Trustees will be expected to join the Audit and Risk Committee. The appointment is for a four-year term, renewable once. Reasonable, pre-agreed expenses will be reimbursed.


Location

The University would consider candidates based overseas though prefers that Trustees be able to attend most meetings in-person. 


Diversity

The University of London is keen to ensure that the University’s commitment to equality, diversity, and inclusion is reflected in the backgrounds and experiences of the members of the Board of Trustees. The University would be particularly interested in applications from women, people from black and minority ethnic communities, the LGBT+ community and from disabled people.


The deadline for consideration is 8 March 2023.

If you would like to register your initial interest in this role, please fill in the form below.

Please note that registering your interest via this microsite does not constitute a formal application for the role. If it would be worth submitting an application, a member of the Nurole team will be directly in touch ahead of the deadline to let you know and invite you to apply through the Nurole platform.