Audit & Risk Committee
REC appoints members to its committees to provide independence, impartiality and wide experience. The REC is looking to recruit two REC members to join its Risk and Audit committee. The selected candidates will bring a recruitment sector perspective to the committee.
REC members who serve on the committee carry the same responsibilities and bring their sector perspective to the work of the committee. The independent members of the Audit and Risk committee provide external advice and expertise to inform the REC's management of risk and audit, making recommendations to the Board, and providing advice to the Executive.
The successful candidate will be expected to think strategically and influence decisions at a senior level. They will need to establish constructive relationships with stakeholders including other Board members, staff and audit providers.
About the REC
We drive standards and empower recruitment businesses to build better futures for their candidates and themselves. We are champions of an industry which is fundamental to the strength of the UK economy.
At the REC we provide legal advice, business support and training to recruiters, providing individuals with the skills to continue to contribute billions to the UK economy.
REC members are recognised for their professionalism and the value they provide to clients and candidates. If a recruitment agency displays the REC logo, it's a sign of quality. It demonstrates that they have passed our Compliance Assessment and follow our Code of Professional Practice.
We work with recruiters and employers across the UK. Our team includes legal, compliance, policy, qualification and account management experts who have specific experience working with recruiters to help their businesses thrive.
The REC is a UK registered company, limited by guarantee and is also a not-for-profit organisation.
To learn more about our strategic aims, please review the corporate documents https://www.rec.uk.com/, including the REC Annual Report and Accounts at https://www.rec.uk.com/about-the-rec.
About the Audit and Risk Committee
Committees of the REC Board are Audit & Risk, Professional Standards and Remuneration & Appointments. These committees submit reports to the Board on a routine basis.
The Audit & Risk committee is responsible for overseeing financial reporting process, audit process, risk management, internal controls and governance arrangements. The Audit and Risk responsibilities are to:
Monitor the REC’s performance against the agreed budget and financial success measures.
Evaluate the profitability and sustainability of REC activities and consider the long-term commercial viability of the REC in the context of macro trends.
Review the investment strategy and reserves policy and make recommendations to the REC Board about courses of action.
Work with auditors to ensure compliance with professional accounting standards and practices and receive the annual auditor’s report.
Meet with the external auditors (at least once each calendar year) without any REC staff member present for the purpose of obtaining direct assurance from the lead auditor.
Competencies
Listed below are the core competencies and the evidence that will be applied when the Remuneration and Appointments committee reviews the applications for the posts on the Risk and Audit committee.
|
Competence |
Evidence |
|
Understanding of the role of the REC |
Demonstrates a clear understanding of the role and purpose of the REC, including its status as a membership body. Fully endorses the REC’s role in promoting equality. diversity and inclusion. |
|
Awareness of the role of audit and risk management in ensuring effective organisational performance |
Demonstrates an understanding of how to keep systems and processes under review for the effective management of risks relating to the discharge of the REC board’s statutory duties. Has the ability to weigh the evidence in complex issues and arrive at a balanced judgement. Has an eye for detail and an awareness of technical requirements to enable scrutiny and challenge of financial statements and other complex issues that the committee deals with. |
|
Experience of corporate governance and the role of the non-executive, most particularly the role of Audit and Risk committees |
Demonstrates a clear understanding of the components of good governance, with specific experience of executive or non-executive service on an Audit and Risk committee Understanding and respect of the boundaries between non-executive and executive roles and ability to challenge and support staff to continue to improve performance |
|
Excellent communication skills with high-level numeracy and analytical skills
|
Shows respect for the opinions of others, actively listens and engages with different views and demonstrates independent thought and judgement while willing to support collective decisions. Demonstrates a high level of integrity (including when dealing with confidential or sensitive issues). Ability to present an argument and articulate reasons for reaching decisions demonstrates high-level numeracy and analytical skills. |
Term of office, and expenses
The initial appointment is for three years. Individuals may be reappointed to the Audit and Risk committee for a further term up to a maximum of six years, subject to satisfactory performance and the needs of the REC.
The Risk and Audit committee meets 4 times a year, these meetings are currently all online, with additional time required for reading meeting papers and other business.
Travel and subsistence expenses are refundable within limits set by the REC. Expenses are subject to periodic review.
Diversity, Equality and Inclusion
The REC is an Equal Opportunity Employer. Our mission is to put equality, diversity and inclusion at the core of everything that we do. Building inclusive teams is an important part of that. We celebrate difference and encourage candidates from all backgrounds and walks of life to join us. To find out more about our EDI work www.rec.uk.com/about-the-rec/equality-diversity-and-inclusion
How to Apply
Please send a CV (no more than three sides of A4), with a cover letter (no more than two sides of A4) explaining how you meet the requirements of the Risk and Audit committee.
Closing date for applications: Monday 11 September 2023, by 5pm
Shortlisting outcome advised: Friday 22 September 2023
Interviews held: Tuesday 3 October 2023 (in person, in London)
Please email your application to: tricia.wombell@rec.uk.com