Independent member of the Office of Rail and Road’s Audit and Risk Committee

Body: Office of Rail and Road
Appointing Department: Department for Transport
Sectors: Regulation, Transport
Location: Attendance required at Canary Wharf, London, five times per year
Skills required: Audit and Risk
Number of Vacancies: 1
Remuneration: The remuneration for this role will be £4,000 per annum, plus expenses under ORR’s travel and subsistence rules. The independent member will prepare for and attend all the audit committee meetings. They are expected to review the board and committee packs and to raise any concerns on governance or assurance.”
Time Requirements: The independent member should expect to attend all ARC meetings (five per year) and to spend one day a month (at home) on scrutiny of other ORR business.

This is not a ministerial appointment.

Campaign Timeline

  • Competition Launched

    08/06/2021

  • Closed for Applications

    30/06/2021

  • Panel Sift

    TBC

  • Final Interview Date

    TBC

  • Announcement

    TBC

Vacancy Description

The Office of Rail and Road (ORR) wishes to appoint a new independent member to its Audit Committee with effect from 1 October 2021. ORR is a non-ministerial government department, with its duties and responsibilities as the combined safety and economic regulator of Britain’s railways and monitor of Highways England set down in statute. These powers rest with the Board of ORR, the members of which are appointed by the Secretary of State for Transport. Our chief executive is designated as Accounting Officer, in accordance with Managing Public Money.

The role of ORR’s Audit and Risk Committee is to support and assist the Board and the Accounting Officer in fulfilling their responsibilities in relation to risk, control and governance and associated assurance.

The Audit and Risk Committee reviews and provides advice on a range of different subjects including:

  • the strategic framework governing risk, control and corporate governance and our Governance Statement;
  • the accounting policies (including financial control) and annual resource accounts so that they can be approved by the Board and signed by the chief executive;
  • the planned activity and results of both internal and external audit;
  • major organisational and operational projects/programs; and
  • assurances relating to our corporate governance requirements.

As a small organisation without major spending budgets ORR does not necessarily have a qualified finance professional among its directors.  The independent member therefore provides the Audit Committee with specialist accounting, financial, risk management and corporate governance advice to enable it to fulfil its role effectively. As well as this advisory role, the independent member may be asked to become involved in specific issues, applying their skills to the identification and development of practical solutions on issues before the Audit Committee.

Person Specification

Requirements of the Role

We are looking for candidates who can bring diversity of thought and a fresh approach to our risk and assurance work.

The successful candidate will be able to demonstrate the following knowledge, experience, skills and abilities in their CV and at interview:

Essential

  • a qualified accountant with proven integrity;
  • extensive and recent experience of financial management and audit/assurance work, at partner level in a recognised national or international accountancy firm of good standing or an equivalent senior executive role in a national organisation;
  • a strong intellect with the ability to apply the disciplines and techniques of financial management, risk management and assurance to investigate and diagnose problems outside the financial field;
  • excellent knowledge of risk management principles and processes; and
  • able to listen and challenge in a constructive manner, providing an objective and independent point of view whilst at the same time building a positive and open relationship with the executive.

Desirable

  • understanding of potential risks around IT, cyber risk and business resilience

good understanding of the government environment and accountability issues;

  • previous experience of Audit Committee membership in the public or private sector; and
  • knowledge of the rail industry or other publicly owned infrastructure.

The ORR’s Audit Committee meets five times a year (normally March, June, September and December with an additional meeting to sign off the organisation’s annual accounts and reports).  All meetings will normally be held at ORR’s headquarters in Canary Wharf, London.

We are looking for the successful candidate to be in post from 1 October 2021 and we expect the appointment to be until 30 September 2024.

If you would like further information about the role, please contact our Board Secretary, Tess Sanford on tess.sanford@orr.gov.uk

Additional Information

Diversity & Inclusion

The Office of Rail and Road is committed to promoting equality of opportunity for all.

We particularly encourage applications from women, disabled and ethnic minorities, as these groups are currently under-represented.

Understanding, respecting and representing as broad a range of views and backgrounds as we have in UK society is important to us. We know that diverse perspectives and experiences are critical to an effective organisation.

We have made some great progress over the last few years, but we know there is more that we can do.

Our new Diversity and Inclusion Strategy is set around four objectives:

  1. Improving diversity and representation in our workforce
  2. Improving inclusion in ORR
  3. Everyone being engaged in diversity and inclusion
  4. Improving governance and accountability

How to Apply

If you are interested in the role then please email us hr.recruitment@orr.gov.uk with the following:

  • a personal statement of no more than two pages or 1000 words, indicating how your skills and experience match the requirements of the role (outlined above)
  • an up to date copy of your CV

Shortlisted candidates will be invited to interview during July.  The interview panel will be chaired by the ARC’s Chair, Bob Holland.

Closing date: The closing date for receipt of completed applications is 30 June 2021

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

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