Money and Pensions Service - Non-Executive Directors
- Body
- Money and Pensions Service
- Appointing Department
- Department for Work and Pensions
- Sectors
- Charity & Public Sector, Education, Regulation
- Location
- London (meetings are currently held remotely and being reviewed in-line with Governments Covid 19 Regulations)
- Number of Vacancies
- 4
- Remuneration
- 18,000
- Time Requirements
- 36 Days per year
Campaign Timeline
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Competition Launched
31/01/2022
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Closed for Applications
24/02/2022 at 17:00
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Panel Sift
w/c 14/03/2022 TBC
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Final Interview Date
w/c 25/04/2022 TBC
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Announcement
24/08/2022 at 10:00
Announcement
An announcement has been made on the outcome of this appointment.
The Money and Pensions Service announces appointments of new non-executive directors The Money and Pensions Service (MaPS) has announced the appointments to its Board of four new non-executive directors.
Marlene Shiels, Monica Kalia, Sara Weller CBE and Simon Hamilton will join the MaPS Board from 1 September 2022.
Non-Executive members of MaPS Board are responsible for providing appropriate oversight, governance and direction to MaPS in pursuit of its statutory objectives.
The Money and Pensions Service is an arm’s-length body, sponsored by the Department for Work and Pensions, with a joint commitment to ensuring that people throughout the UK have guidance and access to the information they need to make effective financial decisions over their lifetime.
Marlene, Monica, Sara and Simon join the MaPS Board which includes Sir Hector Sants, Chair; Ann Harris OBE, CPFA; and Alex Heath.
Marlene Shiels has over 30 years’ experience in the credit sector, promoting, growing and developing credit unions throughout the UK and beyond. She is currently the Chief Executive Officer at the Capital Credit Union and holds a membership role at the HMT Financial Inclusion Policy Forum. She previously held the position of Chair of the FCA Smaller Business Practitioner Panel and was a member of the FCA Practitioner Panel until June 2022. She is also an adviser to the Duchess of Cornwall on financial inclusion.
Monica Kalia has been recognised by Forbes as one of the top female leaders in Fintech and listed as one of the Top 100 Most Influential BAME Leaders in UK Tech by the Financial Times & Inclusive Boards. She has shown a demonstrable commitment to championing the cause of advancement of women and minorities in business. She has over 25 years’ experience in the financial services sector at the Bank of America, Credit Suisse and Goldman Sachs and is versed in improving financial capability in areas such as affordable credit, savings and debt advice in non-executive roles at Step Change.
Sara Weller CBE brings with her an extensive background in non-executive roles across the public and private sectors, including a current role at BT Group. She has wide-ranging experience in customer focused operations, including the support and provision of the most vulnerable, as well as experience of structural and cultural transformation.
Simon Hamilton has had an executive career of over 30 years in financial services, split between management consulting and strategic leadership roles in three mutuals, including eight years at Nationwide Building Society. He has been responsible for leading diverse transformation initiatives including new business building with Fintechs, digital transformation, M&A, turnaround, outsourcing and critical regulatory programmes. Simon currently holds a Board level role as Governor at the Arts University Bournemouth.
Sir Hector Sants, Chair of MaPS, said: “I am delighted to welcome Marlene, Monica, Sara and Simon to the MaPS Board. Between them, they bring a diverse range of experiences to the Board across different sectors and their skillsets will help complement the existing expertise across both the MaPS Board and the Executive Leadership team. The strength of the Board will continue to challenge our thinking to find new and innovative ways to improve people’s financial wellbeing.”
Marlene Shiels said: “The Money and Pensions Service plays such a critical role in helping people make the best use of their money. This has never been more important as we face the challenge of the increased cost of living. Helping people build financial wellbeing and resilience in light of this is going to be a major challenge, and one which I look forward to bringing 30 years of expertise working with people who have fewer financial choices. I am delighted to have been given this opportunity to contribute to MaPS, through membership of the Board, and look forward to working with the leadership to support people achieve financial wellbeing.”
Monica Kalia said: “Building on my work on financial inclusion and debt advice, I am thrilled to be joining the Board of MaPS. I am looking forward to working with my fellow Board members and the Executive team supporting the mission of helping those most in need, improve their financial wellbeing.”
Sara Weller CBE said: “The cost of living is rising rapidly, and retirement is lasting longer than ever, so making good decisions about money has never been more important. I am committed to helping MaPS get people the guidance they need to access a financially better future, wherever they start from.”
Simon Hamilton said: “I am delighted to be joining the MaPS Board at this vital time. After almost a decade helping people make the most of their money at the world’s largest building society, I look forward to applying my strategy, transformation and operational skills to help improve people’s financial wellbeing in all stages of life.”
-ENDS-
For media enquiries contact: MaPS Press Office 020 8132 5284 / media@maps.org.uk
Notes to editors High resolution images are available of Marlene Shiels, Monica Kalia, Sara Weller and Simon Hamilton on request. Membership of the MaPS Board Sir Hector Sants, Chair Caroline Siarkiewicz, Chief Executive Mal Singh, Chief Financial Officer Ann Harris OBE, CPFA, Non-Executive Director Alex Heath, Non-Executive Director Marlene Shiels biography: Member of the HMT Financial Inclusion Policy Forum -2018 – present. Chair of SBPP 2019 – June 2022. Member of FCA Practitioner Panel 2019 – June 2022. Adviser to the Duchess of Cornwall on financial inclusion 2012 – present. Chair of the MaPS Nation of Savers Challenge Group 2019-2020. Member of the World Council of Credit Unions Board 2009-2012. Member of the Chartered Banker Institute Counsel 2008 – 2014. Vice Chair of ABCUL 2008-2010. Chair of the Building Societies Workplace Savings Committee. 2012-2015 Director, Stepchange, The Debt Charity (Scotland).
Monica Kalia biography: Co Founder of Neyber Ltd (Fintech) 2014-21. Exec Director with Goldman Sachs 2007-13. VP with Credit Suisse 2006-07. New York VP of Bank of America 2000-03. Trustee with StepChange Debt Charity 2017-2022. Advisor with Clim8 Investments since 2021.
Sara Weller CBE biography: Non-Executive Director at BT Group plc (July 2020 – current), Chair of the Remuneration Committee, New College Oxford (member from 2014 – chair from 2020 to current), Member of the Stop MS Appeal Board. Previous Non-Executive Director and Responsible Business Committee Chair, Lloyds Banking Group (Feb 2012- May 2021), Chair of Cambridge University (CU) Student Mental Health and Wellbeing Board (2018 – October 2021), Non-Executive Director and Remuneration Chair, United Utilities plc (March 2012 to July 2020), Lead Non Executive at the Department for Work and Pensions (April 2017- April 2020), External Member of Cambridge University Council (January 2015 – December 2019), Committee Member, Higher Education Funding Council (HEFCE) (July 2011 to March 2018), Chairman, Planning Inspectorate (August 2014-September 2017), Lead Non-Executive Director, Department for Communities and Local Government (DCLG) (December 2010 to December 2015), and Non-Executive Director, SID and Remuneration Chair; Mitchells and Butlers (M&B) plc (April 2003- January 2010) . Managing Director, Argos Ltd (July 2004 to May 2011).
Simon Hamilton biography: Managing Director, Nationwide for Business, Nationwide Building Society 2018-2020. Director of Strategic Planning, Nationwide 2017-2018. Chief Technology Officer, Nationwide 2015-2017. Divisional Director, Enterprise Development, Nationwide 2012-2015. Group Change & Operations Director, Liverpool Victoria (LV=) 2007-2011. Director of Business Transformation, Portman Building Society 2004-2007. Partner, Accenture 2001-2003. Currently Governor with Arts University Bournemouth.
Date: 24/08/2022
Assessment Panel
- Panel Member
- Jackie Oatway,
- Added
- 31/01/2022
- Panel Role
- Panel Chair
- Positions
- Head of ALB Partnership team DWP
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- Panel Member
- Anna Harvey
- Added
- 31/01/2022
- Positions
- Deputy Director Personal Finances and Funds HMT Other Panel Member
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- Panel Member
- Sir Hector Sants,
- Added
- 31/01/2022
- Positions
- MaPS’ Chair Representative of Organisation
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- Panel Member
- Amardeep Somal
- Added
- 31/01/2022
- Positions
- Independent Panel Member - Independent Member
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Vacancy Description
The Money and Pensions Service’s (MaPS) vision is everyone making the most of their money and pensions.
It is an arm’s-length body, sponsored by the Department for Work and Pensions (DWP), with a joint commitment to ensuring that people throughout the UK have guidance and access to the information they need to make effective financial decisions over their lifetime.
MaPS is funded by levies on both the financial services industry and pension schemes.
DWP is seeking four Non-Executive Directors (NED) with a range of established skills/competences to oversee the governance arrangements in MaPS. DWP is looking for candidates who can provide experience from other organisations with challenges on a similar scale to MaPS.
The Body
MaPS is an arm’s-length body sponsored by the Department for Work and Pensions, established at the beginning of 2019, and engages with HM Treasury on policy matters relating to financial capability and debt advice.
Our mission is that we help people – particularly those most in need – to improve their financial wellbeing and build a better, more confident future. Working collaboratively across the UK, we make sure customers can access high-quality money and pensions guidance and debt advice throughout their lives, how and when they need it.
Financial wellbeing is good for individuals, communities, business, and the economy. But poor financial wellbeing, affecting tens of millions of people, is holding the UK back.
- 11.5m people have less than £100 in savings to fall back on
- 9m people often borrow to buy food or pay for bills
- 22m people say they don’t know enough to plan for their retirement
- And 5.3m children do not get a meaningful financial education.
According to the Organisation for Economic Co-operation and Development, figures like these places the UK well down the rankings of G20 countries, behind France, Norway, China, Indonesia, and many others.
MaPS has outlined in its UK strategy for financial wellbeing that people should have guidance and access to the information they need to make effective financial decisions throughout the course of their lifetime. This means improving people’s financial wellbeing, through everyone making the most of their money and pensions.
MaPS delivers this across five core functions:
1-Pensions guidance: MaPS provides information to people about workplace and personal pensions. In 2020/21 its pensions experts will help hundreds of thousands of people with their pensions queries through the dedicated helpline and the Money Helper website and people aged 50+ to make decisions on their defined contributions pensions pots through the Pension Wise service.
2-Debt advice: MaPS provides people in England (debt is a devolved matter in Northern Ireland, Scotland, and Wales) with information and advice on debt and is the biggest funder of free debt advice. In 2019/20, MaPS worked with delivery partners to support more than half a million customers to get free and effective debt advice while driving up the quality of that advice and providing training and support to advisors on the ground.
3-Money guidance: MaPS provides information designed to enhance people’s understanding and knowledge of financial matters and day-to-day money management skills. This is delivered through the Money Helper website, call centre, web chat and social channels.
4-Consumer protection: MaPS works with government and the Financial Conduct Authority (FCA) to protect consumers against financial scams. It supports the efforts of the wider financial services industry to protect consumers and begin to gather and share actionable insights to help the sector decide where best to prioritise its efforts.
5-Strategy: Following twelve months of engaging with stakeholders throughout the UK, including 1,000 people during a listening phase in January 2020, MaPS published the first ever UK Strategy for Financial Wellbeing, designed to drive change at scale and shift the dials on personal finance. The UK Strategy is the ten-year framework which will help achieve the vision of everyone making the most of their money and pensions. MaPS will play a key role in achieving this vision by supporting and working with a wide range of other organisations and by delivering services where appropriate.
The Board
The MaPS Board is responsible for:
- Approval of the material extension or reduction of the MaPS core activities or change to the high-level corporate structure.
- The MaPS Board supports the Chief Executive Officer (CEO) as Accounting Officer in agreeing the UK Strategy for Financial Wellbeing; the MaPS 3-year corporate strategy; and one-year corporate plan and funding plan, which is then agreed with Ministers via DWP. The MaPS 3-year corporate strategy, along with the one-year corporate and funding plan will set out the targets, priorities, and resources.
- The Board establishes a clear control framework to support the effective management of performance against external risk and delivery standards, supported by delegations of authority, clear business processes, policies and procedures.
- The Board oversees the delivery of the Pensions Dashboard Programme.
The Board currently consists of the Chair and five Non-Executive Director posts. The Board has five standing Committees chaired by Non-Executives: Audit, Risk and Assurance, Remuneration & People, Nominations, Finance and Investment and Pensions Dashboard Oversight.
The Board currently meets 10times a year. Meetings will normally take place at the MaPS offices, currently at 120 Holborn, London, EC1N 2TD and occasionally at other offsite locations. Attendance on Board business may involve an overnight stay.
The Role of a Non-Executive Director
Job specification and essential and desirable criteria for MaPS Board Members
We are seeking four Non-Executive Directors of MaPS. Applicants need to be able to demonstrate ability against the core essential criteria below and in one or more of the following areas: consumer voice, customer facing operational delivery, debt advice and non-executive board experience.
As a Non-Executive Director at MaPS, you will:
- share responsibility as part of the Board to oversee the effective and efficient delivery of the organisation’s mandate. This includes overseeing and responding to pandemic and economic recovery impact and related behaviour changes, the implementation of the 3-year plan and annual business plans, the delivery of the Pensions Dashboards Programme, the roll out of the UK Financial Wellbeing Strategy, oversight of operational goals for money and pensions guidance, and the continued work on culture and values;
- use your expertise to engage directly with the Chief Executive, the Chief Financial Officer and Executive Directors, and other staff as required, to assist in the effective delivery of the organisation’s strategic objectives;
- where appropriate, represent MaPS externally, and help it build relationships with key stakeholders;
- demonstrate a commitment to the Seven Principles of Public Life (Annex1).
Non-Executive Directors will each participate in Board sub-committees. Current Board Subcommittees are:
- Audit, Risk and Assurance Committee
- Nomination Committee
- Remuneration and People Committee
- Finance and Investment Committee.
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.
All successful candidates will need to demonstrate evidence against the following core essential criteria:
- alignment with The Money and Pensions Service’s purpose and values;
- the ability to effectively and strategically contribute at Board level, including working together with executives and other NEDs and using their skills and knowledge to solve complex problems;
- a commitment to furthering equality, diversity and inclusion within the organisation; and
- being pro-active and results orientated, including energy, drive and resilience and a focus on performance against targets.
In addition to the above core essential criteria for all Board members, candidates need to have ability in one or more of the following areas:
Consumer voice
A strong ability to provide the voice of consumers, particularly those with vulnerabilities, to affect behavioural change; or significant skills in transforming direct services for customers.
Customer facing operational delivery
A good understanding of the financial services industry with a solid experience of operational customer facing service transformation especially of a digital nature.
Debt advice
A good understanding of debt advice services and driving good customer outcomes.
Board experience
Strong strategic leadership skills and experience operating at senior non-Executive Board level in a relevant field.
Desirable Criteria
It is desirable for candidates to have ability in one or more of the following areas:
- A willingness to develop knowledge of the environment within which the public sector operates including a good understanding of parliament and what it means to be an arm’s length body of a central government department.
- The ability, as required, to Chair one or more of the Board’s standing Committees.
- A good understanding of financial education and awareness including the behaviour changes among people in different stages of education from young people through to higher education.
- Pensions knowledge, including member engagement, that is likely to have been gained in the pensions sector.
- The ability to provide strategic steers on data collection and insight to demonstrate and improve better outcomes for individuals.
Additional Information
In order to allow for effective training and induction, MaPS would like the new Non-Executive Directors to take up their appointments from mid-June to early July 2022.
How to Apply
In order for us to progress your application please submit the following completed documentation:
1-A CV (maximum 2-3 pages) with your education and professional qualifications and full employment history.
2-An accompanying supporting statement (maximum 2 pages, font size 12 point). Please state the area(s) that you are applying for at the top of the statement. This is your opportunity to demonstrate how you meet each of the criteria set out in this information pack. The initial sift is based on this information, so it is important to fully address the criteria. You should aim to provide specific examples that demonstrate how your knowledge and experience matches each of the criteria, and which describe what your role was in achieving a specific result.
Please ensure that you clearly state your full name at the top of your CV and supporting statement.
3 -Personal Information Form Most of the information requested is not seen by the panel assessing your application (though the panel may consider your declaration of interests).
4-Diversity Monitoring Form. Collecting and analysing candidate data will help us improve our diversity strategy. It will allow us to run more successful recruitment exercises in the future and ensure that competitions are fair for all. This form is not part of the selection process and will be treated in strictest confidence. It will be kept separate from your application and not be seen by the selection panel.
The closing date for applications is 24 February 2022. At 17:00pm.
Late applications will not be accepted.
Reasonable Adjustments
If you have a disability and require reasonable adjustments to enable you to attend for interview, please advise us when you return your application.
Please email your application to: alb.publicappointments@dwp.gov.uk