Jobs and Careers

*Audit and Finance Committee Member

United States, United Statesfull_timeVerifiedPosted 19 Mar 2025

About the role

Application Deadline: April 10, 2025 PurposeThe Audit and Finance Committee (Committee) is a standing committee whose purpose is to assist International Council (IC) and the Facilities Management Company (FMC) Board of Managers (BOM) in:

Fulfilling their responsibilities with respect to the oversight of accounting, finance, audit, tax, investment, financial reporting and internal control practices.
Providing oversight of the use and development of their financial resources, including each entity’s financial structure, investment policies and objectives and other matters of a financial and investment nature.

ResponsibilitiesAudit and Taxes

Monitor the work of Gamma Phi Beta Sorority’s (Sorority) independent auditor:
- Review their qualifications and performance; make recommendations to IC regarding their retention.
- Review their terms of the engagement and make recommendations to IC.
- Meet with the auditor to discuss the audit plan, the annual financial statements and the completed audit.
- Review their observations and comments, including any management letter or other documents provided by the auditor.
Review the engagement of the independent auditor for any non-audit services and verify that such services conform to applicable standards.
Review the annual IRS Form 990 and other significant tax forms or tax matters reported by the Sorority or FMC staff and the independent auditor.

Investment Management

Work with the investment manager(s) to provide continuous education to IC and the BOM on financial and investment items.
Review and monitor the investment policies of IC and the BOM at least annually and suggest revisions when appropriate.
Monitor the investment manager(s)’ execution against the investment policies of IC and the BOM and the engagement letter of the investment manager(s).
Evaluate the performance of the investment manager(s) annually and make a recommendation to IC and the BOM regarding the retention or discharge of the investment manager(s).

Financial Review

Review operating cash flows, liquidity position and operating performance against budget.
Review and make recommendations to IC and the BOM regarding each entity’s approval authority matrix for expenditures, purchases, contractual obligations and financial commitments.
Review, evaluate and make recommendations to IC regarding any mergers or acquisitions.
Develop a process with the Extension Committee to make recommendations to IC and the BOM regarding the financial implications of any extension activities.
Work with Gamma Phi Beta’s chief financial officer to review, evaluate and make recommendations to IC and the BOM on the following.
- Establishment and termination of banking and similar relationships
- Creation of budgets; budgeting recommendations
- Plans for allocation and disbursements of capital expenditures

Perform such other duties and responsibilities as may be assigned to the Committee. Expectations

The Committee shall meet no less than six times per year. Circumstances may require more frequent meetings.
Meetings shall occur via conference or video call.
Travel is not expected for this role. Any changes in travel expectations will be communicated to volunteers.
All Committee members will participate in the annual self-evaluation of the Committee.
All Committee members shall treat all Gamma Phi Beta-related information in her/his possession as confidential and shall sign a confidentiality agreement at the start of her/his term.
All Committee members must have the time to dedicate themselves to this volunteer opportunity. We estimate approximately three hours per month, on average, for the length of the appointment plus hours for any special projects or assignments that may arise.
Complete basic Fidelity volunteer modules and other required training.
For members of Gamma Phi Beta: Be in good standing by paying annual international alumnae dues or being a Life Loyal member.

Preferred Competencies and Experiences