Role 972 

Two Non-Executive Directors are required by a mutual insurer.

Our client is an award-winning income protection provider that is fully owned by its members and with a reputation for protecting its members that stretches back over a hundred years.

Due to planned retirements from its Board of Directors, it is seeking two new Non-Executive Directors. Candidates must be willing to spend at least two days a month working for our client.  In return they will be remunerated through an annual fee that is regularly reviewed and is currently worth £19,000 a year including travel expenses.

Candidates who are currently a CEO but can be released for one Non Exec role will be considered.

Our client is based in the West of England. 

1. Non-Executive Director Role Description

Strategy:

• To contribute to the process of establishing the mission, vision and values of the Society.
• To contribute to the development of strategy and work with fellow non-executive and executive directors in the delivery of such strategy.
• To ensure that strategies and actions approved by the Board are implemented effectively by the executive management.
• To ensure that the Board sets specific, measurable, attainable, realistic and time-bound objectives (SMART) and that the monitoring of the performance of executive management takes place, especially with regard to progress against target.

Governance and risk

• To take a constructive role in maintaining high standards of governance in compliance with the UK Corporate Governance Code.
• To take collective and personal responsibility for the interests of the Members and the long term sustainability of the Society.
• To support the Chairman, Senior Independent Director and Executives.
• To offer purposeful, scrutiny and constructive push back to the Executives
• To ensure that information is accurate and that financial controls and systems of risk management are robust and defensible.

Training and Development

• To undergo an individual and Board performance appraisal at least annually and attend any additional training and development highlighted as a result of the evaluation process.
• To participate in any Board inductions, training and evaluations.
• To promote equality of opportunity in employment and act as an effective point of contact with key staff.

Other Matters

• To fulfil a time commitment of a minimum of two days per month (based on attendance at Board, Sub-Committee and other meetings and preparation time).
• To attend and when called upon to do so, chair Board sub committees and other ad hoc meetings.
• To carry out such other reasonable duties as the Chairman or Executives may require.

2. Candidate Requirements/Personal Specification

Experience

• Evidence of commercial success in chosen career ideally at Director-level or above (or close equivalent), with a proven ability to set and deliver business strategy.
EITHER experience of UK intermediated financial services product distribution OR experience of marketing ‘promise-based’ financial and membership services through multiple channels.
• Good all round business acumen with proven experience, skills and knowledge of what is required to deliver successful business outcomes even with limited resources.

Specific Skills

• Sufficient financial knowledge to be a Board director of a regulated financial organisation, and therefore able and willing to take legal responsibility for understanding and approving the organisation’s report and accounts, and any submissions it makes to its regulators.
• Candidates do not need to have been non executives before but should have good knowledge about the role and its responsibilities, and useful ideas about how to can add value to a small to mid-sized mutual organisation.
• Excellent communication and interpersonal skills. In particular, candidates must know how to question, suggest, independently research, analyse, question and support without being confrontational, and must know how to engage with members of staff at all levels without circumventing executive reporting lines or disrupting day to day work.
• Knowledge of the protection-end of the insurance market and/or of the intermediary distribution channel will be useful but is not essential.
The Society emphasises that to make an effective contribution to an already diverse Board, the candidate will need to demonstrate that they can add value and complement the Board.

3. Non-Executive Director Remuneration

• The role is remunerated through an annual fee that is regularly reviewed and is currently £19,000 per year including travel expenses.

4. Ineligibility

A candidate is ineligible if they:

• Are currently serving on the Board of another Friendly/Financial Services organisation or directly (not arms length) providing services to another Friendly/Financial Services organisation competing in the same marketplace as the Society.
• Can not commit enough time and energy to the Society to carry out the role.
• Are unable to qualify as an independent non-executive director in accordance with the UK Corporate Governance Code.
• Have been adjudged bankrupt or their estate has been sequestrated.
• Have within the preceding five years been convicted in the British Isles of any offence and, a sentence of imprisonment (whether suspended or not) for a period of three months or more (without the option of a fine) was imposed on them.
• Are disqualified under the Company Directors Disqualification Act 1986.
• Are no longer considered by the Financial Conduct Authority or Prudential Regulation Authority (or any successor regulators) to be fit and proper.

5. Regulatory Approval

The appointment of non-executive director is subject to approval by the Financial Conduct Authority and Prudential Regulation Authority (or any successor regulator) and potentially to interview by the regulator. We welcome applications from candidates who have not previously been an FCA and PRA (or FSA) approved person but they must have sufficient financial knowledge to be able to fulfil the duties of a Board director of a regulated financial organisation, and before applying they should familiarise themselves with the FCA and PRA's Fit and Proper test for Approved Persons, and understand how this applies to the exercise of controlled functions for NEDs ("CF2") and know of no reason why they would not be approved.

6. General

The Society acknowledges the benefit of gender diversity and would particularly welcome applications from appropriately qualified women who are at present under represented on the Board. The Society is an equal opportunities employer and we welcome applications from all backgrounds, regardless of race, colour, religion, sex, ancestry, age, marital status, sexual orientation, gender identity, disability or any other classification protected by law. All applications will be judged on the merits of the applicant.

This role will close at noon on Monday 3rd August 2015. Candidates are encouraged to apply early.

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