Overview
We are the Royal Institution of Chartered Surveyors (RICS), a leading professional body working in the public interest to advance knowledge, uphold standards, and inspire current and future professionals. Our members help to create and protect built and natural environments that are sustainable, resilient and inclusive for all.
At RICS our people work inclusively with our members, collaborating to support them in their practice and build connections. We set qualifications and independently regulate chartered professionals and firms, building trust and confidence with clients and consumers. With a heritage of over 150 years, RICS sets the standard for over 130,000 members and candidates operating in the development and management of land, real estate, construction and infrastructure across more than 140 countries globally.
Our trusted data and insight guides decision makers and governments helping to shape public policy, deliver positive societal change and provide a foundation for confident markets. Our members influence the quality of lives, underpin societies and drive economies. Everything we do supports our current and future membership to uphold, advance and inspire professionalism for the benefit of society.
The ARAF Committee reports to the RICS Board which in turn reports to RICS’ Governing Council which is the governing body of RICS.
Role
The members of the ARAF Committee support the Chair in discharging the responsibilities of the ARAF Committee. In particular the Chair and the ARAF Committee members are required to have oversight, for RICS and the RICS group as a whole, of financial reporting; internal controls and risk management systems; compliance, speaking-up and fraud; internal audit; external audit; risk, including risk appetite, tolerance and strategy; financial management, including reserves, investments and pensions; and narrative reporting on financial statements and risk management in the RICS annual report.
The responsibilities of the ARAF Committee are set out in more detail in the terms of reference for the Committee. [Annexure 1]
This is an independent non-executive appointment. As such, the post-holder cannot be a current or former member of RICS.
Person Specification
Candidates should be able to demonstrate suitable experience of, and qualifications in, accountancy, although there is no requirement to meet all of the person specification criteria in full.
Part One: Knowledge and Experience
* A qualified accountant with demonstrable experience of international accounting issues, financial reporting standards, and experience of preparing and understanding annual accounts.
* Experience in working at senior level in a complex business environment.
* Experience or understanding of the objectives of an Audit Committee, preferably having served on an Audit Committee in a previous organisation.
* Up to date knowledge, experience and understanding of audit practices and the current audit environment.
* Familiarity with the process of appointing and holding external audit advisors to account.
* Experience in working for/with a high-profile organisation and has navigated successfully the attendant public scrutiny that can arise.
* Experience or understanding of the challenges of working in a regulated environment and/or a membership organisation.
* Experience as a non-executive or equivalent role (some previous board or committee level experience) outside RICS.
Part Two: Skills and abilities
* Outstanding communication and interpersonal skills with the ability to debate and interrogate issues constructively to reach a consensus.
* Ability to focus on material issues and identify complex financial and other information and challenge concerns and seek explanations.
* Ability to analyse and interpret evidence and information quickly in order to make informed and robust decisions.
* Ability to have an independent view, provide critical assessment and communicate clearly so that views and opinions are easily understood.
* Highly effective listening skills, with the ability to respond to different viewpoints and draw on own and others’ expertise in developing thoughts and ideas.
* Ability to provide specific and constructive feedback.
* Ability to guide and support other Audit Committee members as well as Executives and other stakeholders.
Part Three: Personal Style and attributes
* Contribute effectively as a member of a high calibre and accomplished committee.
* Understand and accept the responsibilities of the role.
* Bring energy to implementing improvements and bringing about change when required.
* Demonstrate sound and independent judgment combined with an inclusive, consultative, collegiate and supportive style.
* Embrace the diversity of professional disciplines within RICS’s membership and take into account the expectations of different communities.
* Available to commit the necessary time and effort to fulfilling the role requirements.
Accountability
The member will be accountable to the ARAF Committee Chair.
Time Commitment
A commitment of approximately 8 to 10 days per annum (excluding travel) is expected from the member in order to perform their duties and will include but is not limited to:
* Attending at least four ARAF meetings a year which will normally be held at our London office.
* Attending an annual evaluation with the ARAF Chair.
Term of Appointment
The initial term of office for the role will be for a term up to three years. Committee members may be re-appointed for additional terms up to a maximum aggregate period of appointment of six years in accordance with the process set out in the RICS Global Appointments Model.
Remuneration and Expenses
The role is remunerated at £12,000 per annum, and all reasonable expenses will be reimbursed in line with RICS expenses policy.
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