The Pensions Regulator (TPR) - Non-Executive Director

Closed
Body: The Pensions Regulator
Appointing Department: Department for Work and Pensions
Sectors: Charity & Public Sector, Regulation
Location: Brighton (Board meetings have recently followed a remote access model, and in future are likely to be a mixture of in person and remote access meetings.)
Skills required: Audit and Risk, Change Management, HR, Regulation, Transformation
Number of Vacancies: 4
Remuneration: Non-Executive Directors (£17,992) Non-Executive Director /Chair of the Audit and Risk Assurance Committee (£21006)
Time Requirements: Around 26 days a year for Non-Executive Directors and around 30 days a year for Non-Executive Director/Chair of the Audit and Risk Assurance Committee

Campaign Timeline

  • Competition Launched

    10/09/2021

  • Closed for Applications

    08/10/2021 at 17:00

  • Panel Sift

    W/C 08/11/21 (TBC)

  • Final Interview Date

    W/C 24/01/22 (TBC)

  • Announcement

    TBC

 

Assessment Panel

Vacancy Description

The Pensions Regulator (TPR) is the independent UK regulator of work-based pension schemes. It is an arms-length public body sponsored by the Department for Work and Pensions (DWP). TPR works with trustees, employers, and business advisers of occupational pension schemes in the private and public sectors, to help them understand their legal duties and the standards it expects. TPR also works with employers and their advisers to ensure compliance with Automatic Enrolment duties.

TPR’s statutory objectives are set out in the Pensions Act 2004. These are:

•to protect the benefits of members of occupational pension schemes;

•to protect the benefits of members of personal pension schemes where direct payment arrangements are in place;

•to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection Fund (PPF);

•in relation to its functions for DB scheme funding only, to minimise any adverse impact on the sustainable growth of an employer;

•to maximise employer compliance with employer duties and the employment safeguards introduced by the Pensions Act 2008;

•to promote, and to improve understanding of, the good administration of work-based pension schemes.

TPR works within the policy and resource framework determined by the Secretary of State; its Corporate Plan and its financial resources and headcount budget is agreed with the DWP.

TPR is based in Brighton, United Kingdom, where its Board meetings are generally held. More information can be obtained from the TPR website and from the TPR Annual Report and Accounts.

TPR is operationally independent of Government and is overseen by a Board of executive and non-executive members. The Board ensures that effective arrangements are in place to provide assurance on risk management, governance and internal control.  All Non-Executive Board members are appointed by the Secretary of State for Work and Pensions following open competition. These appointments are regulated by the Commissioner for Public Appointments.

The Board of TPR meets around eight times a year and currently comprises: the Chair, five Non-Executive Directors, the Chief Executive and four Executive Directors. The Board oversees TPR’s strategic and policy direction, ensures that TPR is properly run as a public body having proper regard to its statutory objectives and has effective internal controls. It also ensures TPR complies with statutory and administrative requirements for value for money and the use of public funds.

The role of a Non-Executive Director

Each Non-Executive Director will:

•contribute to the Pensions Regulator Board meetings and discussions, drawing on their breadth of expertise and ability;

•contribute to and review the strategic direction of TPR;

•scrutinise the performance of the Chief Executive in securing that TPR’s functions are exercised efficiently and effectively;

•monitor the extent to which TPR is meeting its statutory objectives, Key Performance Indicators and other targets;

•ensure effective reporting of activities to the Secretary of State in TPR’s annual report;

•evaluate the effectiveness of the TPR’s internal financial controls;

•contribute to setting the remuneration of the Chief Executive;

•act as a confidant, mentor and wise counsel to the Chair, balancing a challenging approach with being supportive;

•contribute through ad hoc involvement with the executive team and other TPR staff on specific areas of interest/priority;

•where appropriate, represent TPR externally, and help it build relationships with key stakeholders;

•contribute their experience to guide the development of the Pensions Regulator in a way that is inclusive, supportive, collegiate and adds value; and

•demonstrate a commitment to the Seven Principles of Public Life (Annex1).

Non-Executive Directors will each participate in the Non-Executive Committee and one of its sub-committees. These are currently the Audit and Risk Assurance Committee and the Remuneration and People Committee.

The Secretary of State for the Department for Work and Pensions is seeking to make four new Non-Executive appointments to TPR Board to start in May 2022.

 

Person Specification

Essential Criteria

We are seeking candidates with the skills and abilities to complement the existing Board members and build an inclusive, cohesive and well-balanced Board.
Successful candidates will need to demonstrate:

•alignment with The Pensions Regulator’s purpose and values and a commitment to protect workplace savers;

•the ability to contribute effectively and strategically to Board activity (prior non-executive experience is not essential), including working together with executives and other NEDs to solve collective problems;

•an ability to analyse and contribute to the resolution of complex issues which may have economic, social and/or political implications, bringing to bear your own skills and knowledge while also maintaining an independent view;

•the ability to quickly develop and maintain relationships with groups with disparate views and agendas, communicating clearly and effectively with varied audiences; and

•results and outcome orientation, including drive, energy, resilience, and a detailed focus on performance against targets.

In addition, candidates must demonstrate expertise and experience in one or more of the following areas:

Pensions skills and knowledge

•significant knowledge of Defined Benefit and/or Defined Contribution occupational pensions schemes and an understanding of the political and economic structures in which pension schemes operate. This is likely to have been gained by working within the pensions sector in some capacity.

HR and organisational culture change skills and knowledge

•strong understanding of strategic HR issues and an ability to develop, lead, strengthen and maintain an effective and inclusive organisational culture to support high quality outcomes.

Regulatory skills and knowledge

•strong regulatory skills, knowledge of the role of a regulator and ability to work successfully in regulation. It is not essential for candidates to have previous experience of pensions regulation.

Public sector and public administration knowledge

•knowledge of working in a public sector environment and understanding of the role and working of parliament, including engaging on a proactive basis with Government Departments and Ministers.

 

Desirable Criteria 

The following skills / areas of expertise are desirable:

•strong financial literacy and recent relevant financial experience;

•familiarity with a variety of techniques in relation to communications / public relations and marketing, including targeted campaigns to reach diverse audiences;

•ability to consider and provide insight on complex legal issues; this does not require a legal qualification.

 

Attachments
TPR NED Personal Information form (PIF)
TPR NED Diversity Form (DIV)
TPR NED candidate pack
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