Chair: UK-Wide Infrastructure Bank

Body: UK-Wide Infrastructure Bank
Appointing Department: HM Treasury
Sector: Business, Finance & Skills
Location: The bank will be headquartered in the north of England (the exact location is still to be decided) and will also have an office in London. The Chair will be expected to spend time in both locations.
Number of Vacancies: 1
Remuneration: £120,000 per annum
Time Requirements: It is expected that the time commitment will be two days per week, though this may vary week to week according to organisational need. The length of appointment will be three years, subject to satisfactory annual appraisal.

Campaign Timeline

  • Competition Launched

    10/02/2021

  • Closed for Applications

    10/03/2021 at 12:00

  • Panel Sift

    Early March

  • Final Interview Date

    Interviews will take place week commencing 15 March 2021

  • Announcement

    TBC

 

Assessment Panel

Vacancy Description

Background

The Chancellor of the Exchequer is looking to appoint a Chair for the new UK-wide infrastructure bank (hereafter “bank”).

The objective of the bank will be to support and enable private and public investment in infrastructure, and to help the UK government deliver on its goal to create a net zero economy by 2050 and level up economic opportunities across the country.

The bank is expected to advise, finance and co-invest alongside private sector investors in infrastructure projects, using a range of financial tools including loans, guarantees, equity and hybrid products; it will be available as a source of expert advice, including to certain public bodies, on developing and financing vital infrastructure.

The bank will be headquartered in the north of England, and will operate UK-wide, supporting projects in England, Scotland, Wales and Northern Ireland. The government intends the bank to be operational in interim form from spring 2021, so it can play a role in supporting the UK’s economic recovery from the Covid-19 pandemic. The bank will be an enduring and ambitious institution; it will operate within a mandate set by government and have a high degree of operational independence. Through its leadership role, the bank will provide the market with the long-term certainty to build and support investor confidence.

 

Role Profile

The Chair is responsible for the appointment, development and leadership of the board and for ensuring its effectiveness in all aspects of its role. The Chair will be a public facing role and expected to lead the bank’s relationship with HM Government, act as its ambassador, and ensure it delivers in line with its mandate. More specifically, responsibilities will include:

  • Recruiting the leadership team and board. Targeting and recruiting the bank’s inaugural senior executive team including the CEO and other potential senior leaders, ensuring quality and diverse appointments. The candidate will also need to guide the structure and recruitment of the wider non-executive board. Recruitment will be the most important initial priority: working at speed will be key in order to meet the bank’s ambitious timeline.
  • Chairing the board. Once the board has been established, the Chair will set the agenda and manage the business of the board to provide clear direction and focus. The Chair is responsible for establishing a tone of board discussion that will promote open debate and encourage discussion from all members, effective decision making and a unifying culture of expertise, delivery and public service. The Chair will need to ensure continued high performance from the bank’s executive team, assessing skills against requirements, as well as upholding the highest standards of integrity and probity of the board.
  • Strategy. Given the tight timeframes set out for the bank, and the fact that the Chair will be the first board member recruited, developing the bank’s strategy (scope, design, products, governance, operations, mandate) will be required.
  • Objectives and operational performance. Leading the board in overseeing delivery of the required performance to develop and meet agreed commercial and policy objectives, ensuring that the board contributes fully to deciding strategy and that it has sufficient information to monitor performance effectively. Ensure the bank’s strategy and performance is aligned with Ministers’ overall policies and objectives.
  • Culture. Establish and nurture a culture of excellence, collaboration and professional integrity within the bank, in all aspects of its operations.
  • Governance, risk and regulation. Central to the Chair’s role is ensuring that the bank will be well governed and that board committees are properly structured and supported. The Chair is responsible for ensuring that the board has the right control environment so that risk is appropriately monitored and that the board promotes the highest standards of corporate governance, complying with all governance and regulatory requirements.
  • Working in partnership with the executive. Once they are recruited, establish a positive relationship with the Chief Executive and wider senior management team. Provide appropriate challenge and support to drive performance.
  • Stakeholder relations and external engagement. Effective engagement with key stakeholders, both internal and external, which could include Ministers, senior civil servants, academics, investors and advisory groups. Act as an ambassador for the Bank as required and champion its reputation.

 

Person Specification

We are seeking an outstanding individual with the highest levels of integrity, capability, authority and independence.

Essential Experience

  • Senior level leadership chairing a board or serving on a board in a non-executive capacity, and ideally observing the UK Corporate Governance Code in a high-profile organisation.
  • An outstanding record of achievement; someone with strong personal credibility who has wide organisational leadership experience and has managed high-performing teams.
  • A track record of shaping the strategic vision in high-profile organisations, in commercial or financial business leadership, economic development or economic policy-making to ensure credibility with stakeholders.
  • Proven financial literacy and skills; background in corporate finance preferred.
  • Proven record in championing diversity.

 

Desirable Experience

  • Experience of working with government, an Arm’s Length Body or related body.
  • Proven understanding of lending, infrastructure finance or corporate finance.
  • Experience setting up a new organisation or commercial institution.

 

Essential Attributes:

  • Effective leadership skills.
  • Able to navigate complex relationships and build strong, productive and effective long-term partnerships externally and internally in order to optimise the bank’s effectiveness. The ability to engage and negotiate effectively across Whitehall and with Ministers in order to establish and strengthen the bank’s influence.
  • Excellent communication skills, an empathetic approach, and the ability to listen.
  • Capable of holding CEO to account but with effectiveness underpinned by an empathetic and pragmatic approach: capable of influencing rather than directing.
  • A team player.
  • Passionate about the bank and its levelling up and net zero policy objectives.
  • Undoubted integrity: a figure who can exemplify the Seven Principles of Public Life. As a holder of a public office the Chair is expected to follow these principles.

 

Additional Information

  • The successful candidate will be required to have or be willing to obtain security clearance to Security Check (SC) level. The role will be offered on a conditional basis until the successful candidate has passed all checks.
  • As part of the recruitment process due diligence, including social media checks, will be undertaken on short-listed candidates.

 

How to Apply

If you wish to apply for this position, please supply the following by 12:00 (midday) on 10 March 2021:

  • A comprehensive CV (maximum two sides A4, minimum 11 font) setting out your career history and including details of any relevant professional qualifications. The names of two referees should be included in the CV. References will only be taken up for short listed candidates. Referees will not be contacted without your prior consent.
  • A short supporting statement (maximum two sides A4, minimum 11 font) giving evidence of the strength and depth of your ability to meet the essential and, if relevant, desirable criteria for the role. Please provide specific examples to demonstrate how you meet the experience and attributes identified in the person specification.
  • In addition, please also complete and return via email the two forms at Annex B (attached separately) relating to diversity, political activity, the disability confident scheme and conflicts of interest. These forms are entitled ‘Diversity Monitoring Form Accessible – Non OCPA’ and ‘Disability Confidence and Political Activity Declaration’.

 

Applications should be emailed to infrastructure-bank-recruitment@hmtreasury.gov.uk.

Please note it is your responsibility to ensure we receive your application by the closing date.

Attachments
Candidate Pack
Candidate Pack
Disability Confidence and Political Activity Declaration
Disability Confidence and Political Activity Declaration
Diversity Monitoring Form Accessible - Non OCPA
Public Appointment Recruitment Privacy Notice

This post is NOT regulated by The Commissioner for Public Appointments.

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