Non-Executive Directors, UK Infrastructure Bank

Body: HM Treasury
Appointing Department: HM Treasury
Sector: Business, Finance & Skills
Location: Leeds
Skills required: Business / Commercial
Number of Vacancies: 4
Remuneration: £29,000 p.a.
Time Requirements: The successful candidates will be expected to devote such time as is necessary for the proper performance of duties as a non-executive and board committee chair. It is expected that the time commitment will be c.20 days per annum for non-executives and c.30 days per year for the committee chairs. Additional time input will be required in the set-up phase.

Campaign Timeline

  • Competition Launched

    18/11/2021

  • Closed for Applications

    16/12/2021

  • Panel Sift

    10/01/2022

  • Final Interview Date

    18/02/2022

  • Announcement

    TBC

 

Assessment Panel

Vacancy Description

The UK Infrastructure Bank (UKIB) is the new, government-owned policy bank, focused on increasing infrastructure investment across the United Kingdom. A vitally important institution, UKIB will partner with the private sector and local government to finance infrastructure development to help the UK government to create a net zero economy and drive local and regional economic growth. The bank is headquartered in Leeds, and will operate UK-wide, supporting projects in England, Scotland, Wales and Northern Ireland.

The role

UKIB are looking for four Non-Executive Directors to join the new board, two of which to be Chair of the Audit & Risk Committee and Chair of the Remuneration Committee.

At the outset, the non-executives will be expected to support the establishment of the bank, through supporting the:

  • Recruitment and development of the senior leadership team;
  • Establishment of the appropriate governance and board processes;
  • Development and launch of the bank’s strategy engagement with key stakeholders.

The UKIB board will initially have three subcommittees: an Audit & Risk Committee, a Remuneration Committee and a Nominations Committee. Alongside the expertise and skills required for all the NED roles, two of the appointees will need the skills and knowledge to chair the Audit & Risk and Remuneration committees.

Expectations and responsibilities for all the appointed non-executives include:

  • Contribute to setting, monitoring and challenging the strategic direction of the bank, by assisting in developing key strategic objectives, overseeing the achievement of those objectives and challenging the on-going appropriateness of those objectives.
  • Contribute to open and honest debate at board meetings and provide constructive challenge to the executive decisions, adding diversity of thought and industry experience to the board.
  • Promote the long-term success and ensure the accountability of the bank, scrutinising the performance of management in meeting agreed goals, objectives and mandate of the institution, and monitoring the reporting of performance.
  • Uphold high standards of integrity and probity and support the Chair and executive directors by seeking to instil the appropriate culture, values and behaviours in the boardroom and beyond.
  • Commit sufficient time and resource to fulfil all functional responsibilities and continually develop personal capabilities to do so.

The Committee Chairs, working with the Board Chair, will need to ensure the board committees are properly structured and supported with appropriate audit, risk and remuneration polices and principles are established and regularly monitored and evaluated. The Committee Chairs will set the agenda and manage the business of the committees to provide focus and ensure sound governance.

Person Specification

Essential criteria

  • Experience and extensive knowledge of one or more of: infrastructure finance and investment – from either a banking or principal perspective; economic development; or environmental and social policy and impact investment.
  • An outstanding record of achievement and strong personal credibility with wide organisational leadership experience.
  • Experience of making a full and effective contribution to the success and good governance of similar high-profile organisations.
  • 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 ability to effectively consider multiple data sources.
  • For the Audit and Risk Committee Chair, requisite background, knowledge and experience in financial management of financial institutions, obtained through serving as a non-executive director on an audit and risk committee for a similarly complex business, or equivalent experience.
  • For the Remuneration Committee Chair, experience of serving on a remuneration committee as a non-executive director, or equivalent experience, as well as experience and knowledge of establishing remuneration policy in financial institutions or similar businesses. An understanding of remuneration in the public sector context would be desirable.

Desired criteria

  • Experience of working with national, local or devolved governments, Arm’s Length Bodies or other public sector institutions.
  • Experience setting up and/or scaling a new organisation or business.
  • Experience of serving on a board, either in an executive or non-executive capacity

Essential Attributes:

  • Sound judgement. Demonstrated in similar scale, complex environments with multiple public and private sector stakeholders.
  • Able to navigate complex relationships and build strong, productive and effective long-term relationships externally and internally in order to optimise the bank’s effectiveness.
  • Excellent communication skills, an empathetic approach, and the ability to listen.
  • Capable of holding the bank’s leadership team to account but with effectiveness underpinned by a pragmatic approach: capable of influencing rather than directing.
  • A team player and advocate of diversity and the value of multidisciplinary diverse teams.
  • Passionate about the bank and its regional economic growth and net zero policy objectives.
  • The highest levels of integrity, capability, authority and independence. Individuals who can exemplify the Seven Principles of Public Life. As a holder of a public office the candidate is expected to follow these principles.

How to Apply

If you wish to apply for one or more of these positions, please supply the following by 23:00 on 16th December 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.

The preferred method of application for each role is online at:

Remuneration Committee Chair:

www.odgers.com/84549

Audit and Risk Committee Chair:

www.odgers.com/83974

Non-Executive Director (x2):

www.odgers.com/84548

If you wish to be considered for more than one role, please apply via the link for your preferred role and state which other role(s) for which you would like to be considered for in your supporting statement.

Separately, please complete and send the following:

  • ‘Disability Confident Scheme, Political Activity, and Conflict of Interest questionnaire’ which can be downloaded at:

 

Download link: Email to:
www.odgers.com/84549

 

Remuneration Committee Chair

 

www.odgers.com/83974

 

Audit & Risk Committee Chair

 

www.odgers.com/84548

 

Non-Executive Director (x2)

 

 

Data will be processed in line with the privacy notice found included with the above questionnaire entitled ‘Public Appointment Recruitment Privacy Notice Final agreed’.

 

All candidates are also requested to complete an online Equal Opportunities Monitoring Form, which will be emailed to you once you have applied. This will assist UKIB in monitoring selection decisions to assess whether equality of opportunity is being achieved. Any information collated from the Equal Opportunities Monitoring Forms will not be used as part of the selection process and will be treated as strictly confidential.

 

Attachments
Candidate-Brief__UK-Infrastructure-Bank-NEDs-and-Chairs_Final
Disability Confident Scheme, Political Activity, and Conflict of Interest questionnaire- Non-Executive Directors
Disability Confident Scheme, Political Activity, and Conflict of Interest questionnaire- Audit and Risk Committee Chair
Disability Confident Scheme, Political Activity, and Conflict of Interest questionnaire - Remuneration Committee Chair
Public Appointment Recruitment Privacy Notice

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

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