Appointment details

UK Export Finance - Audit Chair NED

Summary

• Organisation: UK Export Finance Departmental Board
• Sponsor department: UK Export Finance
• Location: Various
• Sectors: Finance and Audit
• Skills: Accountancy, Audit and Risk, Business, Change Management, Commercial, Insurance, Technology / Digital, Major Projects, Procurement, Regulation, Transformation
• Number of vacancies: 1
• Time commitment: 25 day(s) per annum
• Remuneration: £25,000 per annum
• Length of term: 3 years
• Application deadline: 11:59pm on 30 June 2025

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Timeline for this appointment

1. Opening date

   2 June 2025

2. Application deadline

   11:59pm on 30 June 2025

3. Sifting date

   21 July 2025

4. Interviews expected to end on

   22 September 2025

Timeline dates are only an estimate and can change

About the appointment

Introduction

UKEF is a ministerial department of state exercising statutory powers under the Export and Investments Guarantees Act 1991 (as amended) (EIGA). UKEF’s Chief Executive is the Accounting Officer responsible to Ministers and Parliament for the management of UKEF, including the stewardship of financial resources and assets.

The UKEF Board, whose role is advisory, supports both the Accounting Officer and Ministers responsible for UKEF through operational oversight and by providing advice and challenge. The board is led by a non-executive Chair. Its membership comprises a majority of non-executive board members, including ex-officio representatives from DBT, UK Government Investments, and the Export Guarantees Advisory Council (EGAC), and three executive directors (the Chief Executive, the Chief Risk Officer and the Chief Finance and Operating Officer). There is also an observer from HM Treasury, which sets the financial framework, comprising financial objectives and reporting requirements, within which UKEF operates, per the EIGA.

The non-executive members are appointed by Ministers through open competition based on relevant expertise and merit. They provide Ministers, usually via the Chair of the Board, with an independent source of scrutiny and provide the Chief Executive with guidance on strategic and operational issues, UKEF’s financial performance and our arrangements for financial reporting, risk management and control. A register of board members’ directorships and major shareholdings is published on UKEF’s website.

The board has three sub-committees: the Audit Committee, the Risk Committee, and the People Committee, which was created in 2025 and subsumes the former Nomination and Remuneration Committees. Membership of these sub-committees comprises non-executive board members, including ex-officio board members.

Appointment description

We are looking to appoint a Non-Executive Director to join the UKEF Board, transitioning into the role of Chair of the Audit Committee following a period of handover to ensure a smooth succession.

As a non-executive Board member, you will bring an external, independent perspective to UKEF’s operations engaging in all items that come to the Board, and providing support, mentoring and challenge to colleagues across UKEF. On transitioning into the role of Audit Chair, you will be required to build an open and effective relationship with key stakeholders such as the Chief Finance and Operating Officer, Audit Committee members, the Head of Internal Audit, and external auditors.

As UKEF is a ministerial department, it is subject to the government financial reporting manual (FReM), within which the International Financial Reporting Standards (IFRS) 9 and 17 will come into effect from the current financial year, 2025-2026. For UKEF, both new accounting standards entail significant changes. You will oversee the concurrent implementation of IFRS 9 and 17, helping UKEF navigate extensive impacts on systems, processes, skills and reported outturn. Audit Committee will also be reviewing and advising on the Annual Report and Accounts under the new accounting treatment.

In addition to financial reporting, you will be reviewing and advising on governance systems, including, e.g., the Financial Crime Framework, Whistleblowing, and the effectiveness of internal controls and associated assurance. As well as chairing the Audit Committee, you will be a member of the Risk Committee, partnering with the Risk Committee Chair in ensuring the Board exercises all its responsibilities across both remits effectively and efficiently. You will also have the opportunity to join networks of public sector ARAC chairs run by the Government Internal Audit Agency, the National Audit Office, and UK Government Investments.

Person specification

Essential criteria

We are seeking an outstanding individual with an enthusiasm for supporting UK exports. Candidates will be tested on their ability to operate effectively as the Chair of UKEF’s Audit Committee as well as a member of the wider UKEF Board. Candidates’ ability to demonstrate the following will be considered:

Essential Criteria

• Knowledge: A clear understanding of the work, priorities, and challenges of UKEF and the context in which it operates.
• Experience: A strong track record of major financial reporting change delivery as either:

1. a non-executive director and member of an Audit Committee of a finance or insurance institution, or
2.  an executive, e.g., a senior auditor or finance professional.

• Judgement: Effective decision-making skills with the ability to critically analyse a wide range of information to make clear and objective evidence-based recommendations and judgements to support the delivery of the organisation's objectives.

The ability to operate successfully on a public sector Board with excellent interpersonal skills, including:

• Communication: The ability to listen, accept challenge and constructively challenge others with clarity and respect.
• Collaboration: Ability to collaborate closely with the executive, board, and other key internal stakeholders, providing support and assurance as appropriate.
• Stakeholder Management: Ability to build strong external stakeholder relationships, including with the NAO, Ministers, and Senior Government officials.
• Risk Management: Experience of working in/with risk management or internal audit functions, and able to ensure effective governance and risk management frameworks are in place.

Desirable criteria

• Excellent knowledge of accounting standards IFRS 9 and IFRS 17.
• Familiarity with government accounting frameworks.
• Familiarity with aspects of credit and emerging market risks in addition to enterprise risk expertise.
• Qualified chartered accountant or equivalent qualification.
• Successful experience chairing a Board or Audit committee.
• Experience of TCFD and sustainability reporting.
• Experience overseeing/implementing major transformation projects.

Application and selection process

How to apply

The recruitment process is being undertaken by Russell Reynolds Associates on behalf of UKEF. Please submit your full application by email to responses@russellreynolds.com. Please quote the role title and assignment code 2505-032L in the subject heading of the email. All applications will be acknowledged.

The closing date for applications is 23:59 on Monday 30th June 2025.

Your submission should include:

• Your current CV with educational and professional qualifications and full employment history, explaining any gaps, giving details where applicable.
• A short covering letter of not more than two A4 sized pages succinctly highlighting your motivation, experience and skills against the requirements of the role.
• Diversity Information Form: This will assist UKEF and UKGI with monitoring selection decisions to assess whether equality of opportunity is being achieved. Any Diversity monitoring information collected will not be seen by anyone assessing your application. Please find the form available here. If you require this form in an alternative format, e.g. hard copy, please request this from Russell Reynolds. 
• Declaration of interests: Public Appointments require the highest standards of propriety, involving impartiality, integrity and objectivity, in relation to stewardship of public funds and the oversight and management of all related activities. This means that any private, voluntary, charitable or political interest that might be material and relevant to the work of the body concerned should be declared. It is important that those appointed as members of public bodies maintain the confidence of Parliament and the public. If there are any issues in your personal or professional history that could, if you were appointed, be misconstrued, cause embarrassment, or cause public confidence in the appointment to be jeopardised, it is important that you bring them to the attention of the panel and provide details of the issue(s) in your application. In considering whether you wish to declare any issues, you should also reflect on any public statements you have made, including through social media. The panel may explore issues with you before they make a recommendation on the appointment.

 

If you have any queries or wish to speak with someone before submitting an application, please contact

responses@russellreynolds.com.

Overview of the application process

Russell Reynolds Associates (RRA) has been appointed to support this recruitment.

The Advisory Assessment Panel will comprise Robert Gillespie, Board Chair; Tom Cooper, Director UK Government Investments and UKEF NED; and an Independent Panel Member.

The final decision on who to appoint will be made by Ministers. Once the competition closes, the panel will assess the applications to select those demonstrating the best fit with the role by considering the evidence you have provided against the criteria in the Person Specification section. As part of longlisting, the Panel will identify a subset of candidates who best match the criteria for an initial interview with Russell Reynolds Associates to further explore their skills and experience. The panel will then have a further meeting to review interview reports on these candidates alongside CVs and statements of suitability in order to select the shortlist.

Shortlisted candidates will be advised on the outcome as soon as possible thereafter. If you are shortlisted, you will be asked to attend a panel interview in order to have a more in-depth discussion of your previous experience and professional competence. This could be in relation to any of the criteria set out in the vacancy description, key responsibilities and accountabilities and person specification. Prior to interview, you may have the opportunity for informal conversations with key personnel in order to improve your understanding of the organisation. Full details of the assessment process will be made available to shortlisted candidates. The panel will identify which candidates are appointable before a final decision on who to appoint is made by Ministers. Prior to this decision, candidates may be asked to meet with Ministers.

Advisory Assessment Panel (AAP)

The Advisory Assessment Panel will comprise Robert Gillespie, Board Chair; Tom Cooper, Director UK Government Investments and UKEF NED; and an 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

This role is open to UK nationals, nationals of Commonwealth countries who have the right to work in the UK, nationals of the Republic of Ireland, nationals from the EU, EEA or Switzerland with (or eligible for) status under the European Union Settlement Scheme (EUSS), relevant EU, EEA, Swiss or Turkish nationals working in the Civil Service, relevant EU, EEA, Swiss or Turkish nationals who have built up the right to work in the Civil Service and certain family members of the relevant EU, EEA, Swiss or Turkish nationals.

Security clearance

Successful candidates must meet the security requirements before they can be appointed: the appointment will be conditional until they are cleared. The level of security needed is security check. You can view our vetting charter here – See our vetting charter.

To meet the National Security Vetting requirements for this role you will need to have resided in the UK for a minimum of three out of the past five years. If you do not meet this requirement, you would not be eligible for SC clearance and therefore not eligible to apply for this role.

New immigration guidelines - What you need to know - GOV.UK

Additional information for candidates

Equality and diversity

The government is committed to promoting diversity in public appointments. Applications from women, members of ethnic minorities, disabled people and other under-represented groups are particularly welcomed.

Disability confident

Disabled applicants who meet the essential criteria in the job specification are guaranteed an interview. Selection will be on merit. If you wish to claim a guaranteed interview under the Disability Confident Scheme, you should complete the relevant section of the monitoring form. It is not necessary to state the nature of your disability.

Further information regarding the scheme can be found at www.disabilityconfident.campaign.gov.uk/

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.

Principles of public life

The Seven Principles of Public Life (also known as the Nolan Principles) apply to anyone who works as a public office-holder.

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

Please note that due diligence searches will be undertaken on shortlisted candidates and references may be taken up prior to interview or prior to any advice being put to Ministers. As part of our due diligence checks, we will consider anything in the public domain related to your conduct or professional capacity. This will include us undertaking searches of previous public statements and social media, blogs or any other publicly available information. This information may be made available to the panel and they may wish to explore issues with you, should you be invited to interview.

For further information on the standards expected in a public role, please review the Seven Principles of Public Life in the sections below.

Due to the nature of UKEFs work, please note that current serving executives and non-executives of major financial institutions that UKEF lends

Application feedback

If your application is unsuccessful, UKGI will keep your personal data on file for 24 months to allow it to provide feedback on request and to defend itself against any legal challenge, as well as to allow it to evidence its fulfilment of its obligations to the relevant instructing Minister/Department.

How to complain

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

Please contact Russell Reynolds at responses@russellreynolds.com

Data protection

Please note this campaign is being run in association with UK Government Investments (UKGI) – candidates are asked to read the UKGI privacy notice which can be found under Appendix II of the Candidate pack prior to applying.

Contact details

If you have any queries or wish to speak with someone before submitting an application, please contact

responses@russellreynolds.com.

Attachments

• UKEF Audit Chair - Candidate Pack