Finance & Business Committee Member

The Science Museum Group's (SMG) mission is to 'Inspire futures' and we share our unparalleled collection of over seven million objects spanning science, technology, engineering and mathematics (STEM) with over 3.8 million visitors each year, in addition to over 650,000 school visits and a huge digital audience. As the world's leading group of science museums, we are uniquely placed to draw people of all ages to engage with science in an inspirational and informal way with our extensive national and international programme of exhibitions, research, skills sharing and consultancy.

The Finance & Business Committee of SMG is a sub-committee and advisory body of the Board of Trusteesof the Science Museum (SMG Board).

We are seeking to appoint oneindependent member to our Finance & Business Committee, for a period of up to 4 years (meeting 4 times per annum).

The Group is seeking someone with strong skills and expertise in the following areas:

• Experience in driving up income and profit of B2C commercial companies, in a leader and/ or advisor capacity.
• Experience in developing and analysing medium to long-term financial strategies, opportunities and risks
• Experience of designing and running multi-year change programmes with income growth and cost reduction components
• Demonstrated expertise in reviewing budgets and cash flow forecasts
• Experience in offering strategic advice to management, driving value in public bodies.
• Experience in aligning finite resources to strategic activities and priorities
• Skilled in assessing and mitigating financial risks associated with major projects, ideally construction projects
• Knowledge of best practice in financial reporting, internal controls, and risk management

At meetings the Committee will consider:

• SMG's financial strategy and plans over the medium to long term and advise SMG Board on the resilience and suitability of these plans in the context of known strategic objectives and risks
• Review SMG's annual budget and 3-5 year financial plan and cash flow alongside strategic plans and corporate objectives on at least an annual basis. Recommend annual budget to the SMG Board for approval
• Consider the financial implications of proposed capital projects or significant changes in scope of approved capital projects, as well as proposals for acquisition or disposal of freehold or leasehold sites or buildings. Ensure that the financial implications are clearly articulated (and have been reflected in longer-term financial planning) and advise the SMG Board accordingly;
• Consider and approve other projects and financial commitments in line with the delegated authority set out from time to time in the SMG Financial Protocols or make recommendations to the SMG Board where those financial commitments exceed the limit of delegated authority;
• Monitor financial performance against budget through regular review of management accounts for SMG (incorporating SCMG Enterprises Ltd). Consider the progress and financial implications of major activities and projects, including capital projects, throughout the financial year and over the project life, requesting detailed financial analysis as appropriate;
• Review targets for fundraising for major projects and monitor charitable and sponsorship income received against agreed targets

To view more about the role, and how to apply, download the role spec file under 'Attachments' on this vacancy listing on the Science Museum Group website.