Login
Search

Member, Finance Committee
Position Description/Responsibilities

Term

Three (3) years beginning on July 1 of the year appointed and ending on June 30 of the third year. Member can be reappointed for one additional consecutive three (3) year term with eligibility for further reappointment after a one-year lapse.

Responsibilities

  • Prepare for and attend meetings of the finance committee as a voting member
  • Recommend an annual budget to the Federation board based on reports presented by Federation management
  • Safeguard the invested funds of the Federation by review of the investment reserves and reviewing the performance of the investment managers
  • Recommend an investment policy for the Federation
  • Assist the Treasurer in monitoring the financial performance of the Federation

Characteristics

The Board seeks to include the broad diversity of the biological and biomedical sciences, but recognizes these are appointed positions through the authority of the member societies. Nonetheless, biographic and demographic diversity is important and should be considered as an overarching goal when a member society appoints its representative. The following are personal characteristics that Finance Committee members should have:

  • Excellent financial acumen, expertise with reviewing financial activity of an organization, or willingness to learn about the financial operations of the Federation, including investments
  • Demonstrated commitment to collaboration and team building
  • Strong communication and analytical skills
  • Maintains independence and objectivity regarding the financial operations of the Federation
  • Record of professional service, including active membership in a FASEB Society

Time Commitment

  • 1 in-person day-long Finance Committee meeting (in November), plus travel
  • 1-2 hours quarterly for committee conference calls
  • Additional 1-3 hours per year ad hoc calls as needed