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Role details

Profile 2: Non-Executive Director, UK Government Investments

Application deadline 31 March 2023

Summary

• Organisation: UK Government Investments
• Sponsor department: HM Treasury
• Location: London
• Sectors: Business and Trade
• Skills: Business
• Number of vacancies: 2
• Time commitment: 3 day(s) per month
• Remuneration: £25000 per annum
• Length of term: 3 years
• Application deadline: 11pm on 31 March 2023

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Timeline for this appointment

1. Opening date

   28 February 2023

2. Application deadline

   11pm on 31 March 2023

3. Sifting date

   28 April 2023

4. Interviews expected to end on

   28 June 2023

Timeline dates are only an estimate and can change

About the role

Introduction

UK Government Investments (UKGI) is the government’s centre of excellence in corporate governance and corporate finance. The organisation works across government on some of its most interesting and complex commercial and financial tasks. It is responsible for promoting good governance of publicly owned businesses, supporting the government’s private sector interventions, delivering orderly transactions that generate value for money and analysing and advising on the UK government’s contingent liabilities. 

Introduction from the Secretary of State

Foreword

From the Economic Secretary to the Treasury, Andrew Griffith MP

UKGI is the government’s centre of excellence for corporate governance and corporate finance, getting involved in some of the government’s top priorities and most complex challenges. For example, UKGI recently supported government on the sale of Chelsea Football Club to protect the integrity of financial sanctions. In the midst of the pandemic, UKGI also worked with government to help lead negotiations for the purchase of Covid-19 vaccines as part of the Vaccine Taskforce. In the last year UKGI has advised the Department for Health and Social Care on the challenges in the Adult Social Care sector, and supported the Department for Transport on pressures in the aviation and ferry sectors. In all of this work, UKGI has been integral in bringing corporate governance and corporate finance expertise to bear across government, creating better outcomes and value for money decision making.

Through UKGI’s shareholder function, it is able to bring a wealth of experience in corporate governance to help the government effectively manage its assets. UKGI performs the shareholder function for a portfolio of 24 assets on behalf of government. These assets employ over 215,000 people, and generate around £24bn of gross income. And UKGI’s shareholder role continues to expand; for example, in 2021-22, UKGI took on new shareholder roles on Reclaim Fund Limited, Atomic Weapons Establishment and the UK Infrastructure Bank. 

In the coming months and years, UKGI’s advice will continue to be indispensable, as it provides valuable commercial insight and promotes government’s key priority of improving the management and delivery of our commitments, ensuring that government companies and arms’ length bodies across a number of departments have the appropriate structures and processes in place to deliver their outcomes and commitments on time and within budget. Its portfolio of entities will also be responsible for delivery of other key commitments, whether it be levelling up across all nations and regions of the UK or making the UK a scientific superpower.

This government is determined to ensure that there are more people in the civil service and public service with deep financial and commercial skills, who can draw on their experiences in the private sector to help deliver government policies more effectively. UKGI’s unique blend of commercial and public sector capabilities and experience make it one of the organisations which is critical to the delivery of this priority.  

Therefore, this is an exciting and challenging time to join the board of UKGI as a Non-Executive Director with a unique opportunity to make a nationally significant contribution, by helping to contribute to the organisation’s capabilities, nurture its unique culture, and deliver its objectives. 

Role description

UKGI are looking for a Non-Executive Director to join the Board. The Board provides strategic direction and ensures UKGI is equipped to perform its functions, including having sufficient resourcing and a suitable organisational structure. The Board also enables effective arrangements to be put in place to provide assurance on risk management, governance and internal control. Non-Executive Directors play a key role in helping the organisation to achieve its objectives by providing independent oversight and constructive scrutiny and challenge to the executive management team. The successful applicant will be required to make informed decisions and effectively monitor the leadership team’s performance in delivering UKGI’s strategy. The successful applicant will be expected to perform the duties diligently and to a standard commensurate with the requirements of the role.

Full details of the role can be found in the appended candidate pack.

Organisation description

UK Government Investments (UKGI) create value for society from government’s most complex commercial interests. Combining the best of public and private sector expertise, we are government’s centre of excellence for corporate governance and corporate finance. UKGI began operating on 1 April 2016 as a government company, wholly-owned by HM Treasury. The organisation brings together expertise from the public and private sectors, interacting with Ministers, Parliament and Whitehall departments, to tackle the most complex commercial and financial tasks.

Independently managed, UKGI brings together the functions of the Shareholder Executive (ShEx) (ShEx was formerly part of the Department for Business Innovation and Skills) and UK Financial Investments Ltd (UKFI) under a single holding company. UKGI has memoranda of understanding with Whitehall departments setting out the services offered and how to work with them to deliver those services.

The company is made up of c.164 highly skilled, experienced professionals, drawn from both the Civil Service and private sector. Secondees consistently comprise of 16% of the workforce.

Further details on UKGI's key responsibilities and portfolio can be found in the attached candidate pack.

Board composition

The Board is comprised of the following members:

• Vindi Banga, Chair, appointed September 2021
• Jane Guyett CBE, Senior Independent Non-Executive Director, appointed February 2016 (stepping down in 2023)
• Andrew Ballheimer, Non-Executive Director, appointed September 2022
• Kalpana Desai, Non-Executive Director, appointed September 2022
• Andrew Duff, Non-Executive Director, appointed July 2019
• Sarah Munby, Non-Executive Director; Permanent Secretary for the Department for Business, Energy and Industrial Strategy, appointed September 2020
• Beth Russell, Non-Executive Director; Second Permanent Secretary, HM Treasury, appointed November 2022 (Philip Duffy, Director General HM Treasury, appointed as Beth Russell’s alternate Director) 
• Mahnaz Safa, Non-Executive Director, appointed September 2022
• Charles Donald, Chief Executive Officer, appointed March 2020 

See Annex B of the candidate pack for  UKGI Board Member Biographies

Board Committees

The Board has an Audit and Risk Committee, Remuneration Committee and Nominations Committee. Alongside these, the UKGI Board has established two specialist committees to oversee specific functions of UKGI’s work, as follows:

Transactions Committee (Chaired by Vindi Banga): provides assurance and oversight of all major transactions executed by UKGI, and of UKGI’s stewardship role in respect of government’s interest in NatWest Group plc, and where applicable, provides advice to Ministers on these transactions.

Contingent Liabilities Committee (Chaired by Jane Guyett): provides advice, challenge and support to the Contingent Liabilities Central Capability based in UKGI, bringing together UKGI non-executives and externally co-opted members from the insurance and actuarial sector.

Regulation of appointment

This post is regulated by the Commissioner for Public Appointments. For more information, please refer to the Commissioner’s website 

Person specification

Essential criteria

• Background in corporate finance, which may have been gained in the financial services sector, consultancy, or in-house finance roles. Must have financial acumen. 
• Experience of working in a Non-Executive Director capacity on the Boards of significant entities in the public, private or third sectors or, exceptionally, deep experience working with Boards. 
• Experience of effectively liaising with and influencing diverse and high-profile stakeholders. 
• Corporate governance experience gained in major listed entities. 

Desirable criteria

• Background in risk sector ideally with experience either as a Chair or member of an Audit and Risk committee, or significant Executive risk experience.  
• Ability to understand complex issues and the importance of accountability and probity in public life.  
• Track record of leadership in a large or complex organisation. 

Application and selection process

How to apply

Please see the Candidate Pack, Disability conflicts and political activity, and diversity form documents at the foot of this advert documents:

The closing date for applications is 31 March 2023 at 23:00pm UK time. Successful candidates may be invited to attend preliminary interviews with Korn Ferry during the search process. Any candidates that are required to attend will be

notified as soon as possible.

In order to apply and your application be deemed complete, please submit all of the following:

1. a comprehensive CV
2. a covering letter (no more than two pages) which sets out which role you are applying for, your interest in the role and encapsulates the aspects of your experience relevant to the required criteria for the role you are applying for. Please also include details of two referees.
3. completion of the Disability Confident Scheme, Political Activity and Conflict of Interest questionnaire
4. completion of the diversity monitoring form. This allows us to see if there are any unfair barriers to becoming a public appointee and whether there are any changes that we could make to encourage a more diverse field to apply. You can select “prefer not to say”
5. disability confident – If you want to be considered for the disability confident scheme, please complete the form attached.
6. reasonable adjustments - requests for reasonable adjustments that you would like to the application process (if applicable).

The preferred method of application is via email at: ApplicationsKF@kornferry.com. The Advisory Assessment Panel reserves the right to only consider applications that contain all of the elements listed above, and that arrive before the published deadline for applications.

We are committed to ensuring everyone can access our website and application processes. This includes people with sight loss, hearing, mobility and cognitive impairments. Should you require access to these documents in alternative

formats or you are unable to apply online please contact: leanne.hill@kornferry.com

Overview of the application process

Public appointments are made on merit following a fair and open competition process which is conducted in accordance with the Governance Code for Public Appointments. We will deal with your application as quickly as possible and will keep you informed at key stages. We aim to conclude the appointment process within three months of the deadline for applications – this is in accordance with the Governance Code.

The assessment process

1. Ministers are responsible and accountable to Parliament for the public appointments made within their department. As a result, they must be consulted at every stage of the appointments process.

2. An Advisory Assessment Panel (“Panel”) is appointed by Ministers to assist them in their decision making. The role of the Panel is to decide, objectively, which candidates meet the eligibility criteria for the role.

3. At the shortlisting meeting the Panel will assess applications against the eligibility criteria and decide which candidates have best met the criteria, who should be recommended for interview. Ministers will then be consulted on the Panel’s recommended shortlist. If you have applied under the Disability Confident Scheme and you meet all the essential criteria, then you will also be invited for an interview.

4. Once the shortlist has been agreed by Ministers, you will be advised (by e-mail) whether you have been shortlisted. Those shortlisted will be invited to an interview.

5. The Panel will meet again to interview candidates and determine who is appointable to the role. The Panel may invite you to make a brief presentation at the start of the interview and will go on to question you about your skills and experience, including asking specific questions to assess whether you meet the criteria set out for the post. The Panel will also explore with you any potential conflicts of interest or any other issues arising from your personal and professional history which may impact on an appointment decision.

6. Details of the panel’s assessment of interviewed candidates are provided to Ministers, including whether they have judged a candidate to be appointable to the role. It is then for Ministers to determine merit and decide who should be appointed. In some circumstances, Ministers may choose not to appoint any candidates and re-run the competition.

7. Ministers may choose to meet with candidates before deciding the outcome. Candidates should therefore be prepared for a short time gap between interview and a final appointment decision being made. Candidates who have been interviewed will be kept informed of progress.

8. Once the decision on the appointment has been made, interviewed candidates will be advised of the outcome of their application, including whom they may approach for feedback. Successful candidates will be issued with their Terms & Conditions and a letter of appointment should they agree to take up the position.

Further information about appointments, including tips on applying, can be found on our guidance pages on gov.uk.

Advisory Assessment Panel (AAP)

Vindi Banga, Panel Chair

Chair, UK Government Investments, Representative of Organisation

Tim Jarvis, Departmental Official

Director of Companies and Economic Security, HM Treasury

Dame Clara Furse DBE, Independent Panel Member

Advisory Assessment Panels (AAP) are chosen by ministers to assist them in their decision-making. These include a departmental official and an independent member. For competitions recruiting non-executive members of a board (apart from the Chair), the panel will usually include a representative from the public body concerned.

AAP’s perform a number of functions, including agreeing an assessment strategy with ministers, undertaking sifting, carrying out interviews in line with the advertised criteria and deciding objectively who meets the published selection criteria for the role before recommending to ministers which candidates they find appointable. It is then for the minister to decide who to appoint to the role.

Eligibility criteria

In general, you should have the right to work in the UK to be eligible to apply for a public appointment. There are a small number of specialist roles that are not open to non-British citizens. Any nationality requirements will be specified in the vacancy details. The Government expects all holders of public office to work to the highest personal and professional standards. You cannot be considered for a public appointment if:

• you are disqualified from acting as a company director  (under the Company Directors Disqualification Act 1986);
• have an unspent conviction on your criminal record;
• your estate has been sequestrated in Scotland or you enter into a debt arrangement programme under Part 1 of the Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) as the debtor or have, under Scots law, granted a trust deed for creditors.

When you apply, you should declare if:

• you are, or have been, bankrupt or you have made an arrangement with a creditor at any point, including the dates of this. 
• you are subject to a current police investigation.

You must inform the sponsor department if, during the application process, your circumstances change in respect of any of the above points. 

When you apply you should also declare any relevant interests, highlighting any that you think may call into question your ability to properly discharge the responsibilities of the role you are applying for. You should also declare any other matters which may mean you may not be able to meet the requirements of the Code of Conduct of Board Members (see Outside interests and reputational issues section below)

If you need further advice, please contact ApplicationsKF@kornferry.com  

Security clearance

The successful candidate will be required to undertake Baseline Personnel Security Standard checks in line with the Civil Service guidelines. Additional Security Clearance may also be required for certain roles. However, where this applies, candidates will be notified during the appointment process. Further information on National Security Vetting can be found on the Gov.uk website here.

Additional information for candidates

Equality and diversity

We encourage applications from talented individuals from all backgrounds and across the whole of the United Kingdom. Boards of public bodies are most effective when they reflect the diversity of views of the society they serve and this is an important part of the Government’s levelling up agenda.

We collect data about applicants’ characteristics and backgrounds, including information about people’s educational and professional backgrounds, so that we can make sure we are attracting a broad range of people to these roles and that our selection processes are fair for everyone. Without this information, it makes it difficult to see if our outreach is working, if the application process is having an unfair impact on certain groups and whether changes are making a positive difference.

When you submit your application, your responses are collected by the Cabinet Office and the government department(s) managing your application. The data is used to produce management information about the diversity of applicants. You can select “prefer not to say” to any question you do not wish to answer. The information you provide will not be seen by the Advisory Assessment Panel who review applications against the advertised criteria and conduct interviews.

Disability confident

We are a member of the Government’s Disability Confident scheme. We use the Disability Confident scheme symbol, along with other like-minded employers, to show our commitment to good practice in employing people with a disability. The scheme helps recruit and retain disabled people. 

As part of implementing the scheme, we guarantee an interview for anyone with a disability whose application meets the essential criteria for the role, set out in the advert, and who has asked that their application is considered under the scheme. Indicating that you wish your application to be considered under the scheme will in no way prejudice your application. By ‘minimum criteria,’ we mean that you must provide evidence which demonstrates that you meet the level of competence required under each of the essential criteria, as set out in the job-advert.

When you apply you will have the opportunity to select if you would like your application considered under this scheme.

Reasonable adjustments

We are committed to making reasonable adjustments to make sure applicants with disabilities, physical or mental health conditions, or other needs are not substantially disadvantaged when applying for public appointments. This can include changing the recruitment process to enable people who wish to apply to do so.

Some examples of common changes are:

• ensuring that application forms are available in different or accessible formats;
• making adaptations to interview locations;
• allowing candidates to present their skills and experience in a different way;
• giving additional detailed information on the selection / interview process in advance to allow candidates time to prepare themselves;
• allowing support workers, for example sign language interpreters;
• making provision for support animals to attend.

When you apply you will have the opportunity to request reasonable adjustments to the application process.

Principles of public life

Holders of public office are expected to adhere to and uphold the Seven Principles of Public Life. These are:

1. Selflessness - Holders of public office should act solely in terms of the public interest.
2. Integrity - Holders of public office must avoid placing themselves under any obligation to people or organisations that might try inappropriately to influence them in their work. They should not act or take decisions in order to gain financial or other material benefits for themselves, their family, or their friends. They must declare and resolve any interests and relationships.
3. Objectivity - Holders of public office must act and take decisions impartially, fairly and on merit, using the best evidence and without discrimination or bias.
4. Accountability - Holders of public office are accountable to the public for their decisions and actions and must submit themselves to the scrutiny necessary to ensure this.
5. Openness - Holders of public office should act and take decisions in an open and transparent manner. Information should not be withheld from the public unless there are clear and lawful reasons for so doing.
6. Honesty - Holders of public office should be truthful.
7. Leadership - Holders of public office should exhibit these principles in their own behaviour and treat others with respect. They should actively promote and robustly support the principles and challenge poor behaviour wherever it occurs.

Code of conduct for board members

The Government expects all holders of public office to work to the highest personal and professional standards. In support of this, all non-executive board members of UK public bodies must abide by the principles set out in the Code of Conduct for Board Members of Public Bodies. The Code sets out the standards expected from those who serve on the boards of UK public bodies and will form part of your terms and conditions of appointment.

Management of outside interests and consideration of reputational issues

Holders of public office are expected to adhere and uphold the Seven Principles of Public Life and the Code of Conduct for Board Members of Public Bodies. Before you apply you should consider carefully: 

• any outside interests that you may have, such as shares you may hold in a company providing services to government; 
• any possible reputational issues arising from your past actions or public statements that you have made; 
• and/or - any political roles you hold or political campaigns you have supported; 

which may call into question your ability to do the role you are applying for.

You will need to answer relevant questions in relation to these points when making an application. Many conflicts of interest can be satisfactorily resolved and declaring a potential conflict does not prevent you from being interviewed. If you are shortlisted for an interview, the panel will discuss any potential conflicts with you during that interview, including any proposals you may have to mitigate them and record that in their advice to ministers. Alongside your own declaration, we will conduct appropriate checks, as part of which we will consider anything in the public domain related to your conduct or professional capacity. This may include searches of previous public statements and social media, blogs or any other publicly available information. The successful candidate(s) may be required to give up any conflicting interests and their other business and financial interests may be published in line with organisational policies. 

Details of declared political activity will be published when the appointment is announced, as required by the Governance Code (political activity is not a bar to appointment, but must be declared).

Status of appointment

As this is an office holder appointment, you will not become a member of the Civil Service. You will not be subject to the provisions of employment law.

Appointment and tenure of office

Appointments are for the term set out in this advert, with the possibility of re-appointment for a further term, at the discretion of Ministers.  Any re-appointment is subject to satisfactory annual appraisals of performance during the first term in the post. There is no automatic presumption of reappointment; each case should be considered on its own merits, taking into account a number of factors including, but not restricted to, the diversity of the current board and its balance of skills and experience. In most cases, the total time served in post will not exceed more than two terms or serve in any one post for more than ten years

Remuneration, allowances and abatement

Remuneration for this role is treated as employment income and will be subject to tax and National Insurance contributions, both of which will be deducted at source under PAYE before you are paid. 

You can claim reimbursement for reasonable travel and subsistence costs which are properly and necessarily incurred on official business, in line with the travel and subsistence policy and rates for the organisation to which you are applying. However these payments are taxable as earnings and will be subject to tax and national insurance, both of which will be deducted at source under PAYE before you are paid.  

Pension and redundancy

This is an office holder appointment and does not attract any benefits under any Civil Service Pension Scheme. You will not be eligible for redundancy pay as you are not an employee. No other arrangements have been made for compensation upon the end of your term of appointment because an office holder who is appointed for a limited duration would have no expectation of serving beyond that period.

Application feedback

We will notify you of the status of your application. We regret that we are only able to offer detailed feedback to candidates who have been unsuccessful at the interview stage.

How to complain

We aim to process all applications as quickly as possible and to treat all applicants with courtesy.

Please contact the Korn Ferry public appointments team in the first instance if you would like to make a complaint regarding your application at ApplicationsKF@kornferry.com  . They will acknowledge your complaint upon receipt and respond within 15 working days.

How to complain to Office of the Commissioner for Public Appointments (OCPA)

If you are not content with the appointing department’s response you may wish to further complain to the Commissioner at publicappointments@csc.gov.uk.Further information on how the Commissioner handles complaints can be found on the Commissioner for Public Appointments’ website https://publicappointmentscommissioner.independent.gov.uk/regulating-appointments/investigating-complaints/

Data protection

The Cabinet Office will use your data in line with our privacy policy.

HM Treasury's full privacy notice is attached at the bottom of this advertisement.

UKGI's full privacy notice is attached at the bottom of this advertisement.

Korn Ferry's privacy notice can be found here 

Contact details

Korn Ferry: ApplicationsKF@kornferry.com