Appointment details

Non-Executive Director - UK Government Investments

Summary

• Organisation: UK Government Investments
• Sponsor department: HM Treasury
• Location: London
• Sectors: Business and Trade
• Skills: Accountancy, Audit and Risk, Business, Commercial, Major Projects
• Number of vacancies: 1
• Time commitment: 3 day(s) per month
• Remuneration: £25,000 per annum
• Length of term: 3 years
• Application deadline: 4pm on 11 September 2025

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Timeline for this appointment

1. Opening date

   7 August 2025

2. Application deadline

   4pm on 11 September 2025

3. Sifting date

   31 October 2025

4. Interviews expected to end on

   28 November 2025

Timeline dates are only an estimate and can change

About the appointment

Introduction from the Chair

Thank you for your interest in the position of UK Government Investment (UKGI) Non-Executive Director. Since UKGI’s inception in 2016, demand for our specialist expertise within government has continued to rise, reflecting the vital role we play in supporting  the delivery of government’s Plan for Change.

UKGI serves as government’s centre of expertise for corporate finance and corporate governance, operating in many ways as a boutique advisory firm within government. In this capacity, UKGI acts as a shareholder representative for, and leads the establishment of, UK government’s most complex and commercial arm’s length bodies on behalf of sponsor departments. UKGI provides expert advice on major corporate finance matters, supports the UK government’s most significant financial interventions and negotiations, and oversees high-profile corporate asset sales. In addition, UKGI analyses and advises on a wide range of financial instruments and transactions undertaken by the government.

This is an exciting and challenging time to be on the Board of UKGI. The successful candidate with a rare opportunity to make a significant contribution to the advancement of several key government priorities. We are seeking an accomplished and capable Board member who will help sustain UKGI’s distinctive culture,  strengthen its capabilities, and ensure the continued delivery of our objectives.

Vindi Banga

Non-Executive Chair 

Appointment description

UKGI is seeking to appoint a Non-Executive Director to replace a Board member who has recently completed their term. This is a unique opportunity to be part of a dynamic and experienced Board overseeing a complex and fascinating portfolio of businesses. UKGI’s work blends government policy with a commercial perspective, often within challenging and continuously evolving circumstances. Working with a breadth of government departments, external Boards and businesses, this is an opportunity to contribute at the heart of critical negotiations and analysis on some of the most challenging and sensitive corporate transactions, while navigating key issues such as nuclear decommissioning.

• Working in collaboration with fellow Board members, led by the Chair, Non-Executive Directors (NEDs) are expected to contribute to:
• Shaping the organisation’s strategy and ensuring it is aligned with Minister’s overall policies and objectives.
• Providing appropriate and robust challenge to the senior Executive team.
• Maintaining effective relationships with stakeholders and representing UKGI externally.
• Ensuring the highest standards of corporate governance and that UKGI complies with all governance requirements.
• Maintaining and developing UKGI’s culture of excellence, collaboration, and professional integrity in all aspects of its operations.
• Contributing to the succession planning strategy for the Board and for key Executive roles.

Organisation description

UK Government Investments (“UKGI”) is an independently managed, government company, wholly owned by HM Treasury (HMT). Established in 2016, UKGI brought together the functions of the Shareholder Executive and UK Financial Investments Ltd (UKFI) under a single holding company.

At UKGI we create value for society from government’s most complex commercial interests. We work closely with both the private and public sectors, advising and interacting with ministers, Whitehall departments. UKGI is accountable to Parliament via our Ministers.

What we do is unique, and so are we. Our team comprises c.150 experts who work together to provide corporate finance and corporate governance expertise to government departments in support of their policy objectives.

Working for UKGI provides a unique opportunity for talented individuals from the public and private sector to contribute to work of national importance. The work we do is significant in terms of long-term social, economic, and political impact. 

Our work is delivered across four areas of expertise: 

• Corporate Finance: Advise on major UK government corporate finance matters, including financial interventions into corporate structures and corporate finance negotiations.
• Corporate Governance: Act as shareholder representative for, and lead establishment of, UK Government’s most complex and commercial arm’s length bodies on behalf of sponsor Departments.
• Asset Sales and Realisation: Advise, manage and execute the sale or purchase of significant corporate assets for the government.
• Financial Instruments and Transactions: Advise and report on contingent liabilities, loans and equity investments within government. 

UKGI provides a direct cost saving to the taxpayer. Over the past 3 years, the in-house corporate finance and governance function has saved government an estimated c.£175m in external advisor fees.

The UKGI Corporate Governance Portfolio

At UKGI we perform a governance role for 24 organisations on behalf of eight departments. Collectively, they employ over 109k people, generate around £25bn of gross income and manage over £284bn of assets. In the majority of cases, we place a non-executive director onto the board. Across these organisations 

Our broad portfolio allows us to pool and share best practice, and identify and address common issues as well as providing ad-hoc governance advice and specialist consultancy for departments.

UKGI’s governance expertise means we can support departments and arms-length bodies with a range of specialist advice, covering:

• Effective boards and leadership, including appointments to executive and non-executive roles.
• Remuneration, including approach to performance-related pay and incentives.
• Governance documents including framework documents Performance monitoring, review of business plans and strategic plans.
• Drivers of corporate capability, including culture, whistleblowing, cyber security and resilience, environmental stewardship.

UKGI Culture

UKGI’s culture flows from its values which were developed by colleagues across our organisation, reflecting the people who work for us and the ways in which we want to work. Our values define who we are, what we stand for, how we behave and what we aspire to achieve. We continuously hold ourselves and each other accountable to the values by ensuring reward and assessment include measurement against them.

At UKGI, we are:

• Supportive and inclusive in the way we interact.
• Open and honest in the way we work together. 
• Expert and professional in the way we deliver. 
• Collaborative and outcome-focused in the way we achieve our goals.

Board composition

The Executive Committee (ExCo) is responsible for the day to day running of the Company. It comprises the CEO and senior management including the Chief Financial Officer, General Counsel and Chief Operating Officer. The Executive Committee meets fortnightly to discuss UKGI business. It reviews key management information documents regularly, or delegates onwards to the UKGI Operating Committee, which comprises the CEO, CFO, COO and one additional senior staff member.

Details of the current ExCo can be found at www.ukgi.org.uk/who-we-are/senior-team.

Details of the current Non-Executive Board Members can be found at www.ukgi.org.uk/who-we-are/our-board/.

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

• Knowledge: a clear understanding of the work, priorities and challenges of UKGI and the context within which it operates along with the ability to support and provide oversight to UKGI colleagues as they fulfil their responsibility as Non-Executives on Government Boards. 
• Experience: a strong track record of Corporate Finance acquired in major financial institutions, with experience in M&A transaction markets. 
• Communication: strong communication and interpersonal skills with the ability to listen, accept challenge and constructively challenge others in discussions with clarity and respect upholding UKGI’s culture and values.
• Judgement: effective decision-making skills with the ability to critically analyse a wide range of information to make clear and objective evidence-based recommendations to support the delivery of UKGI’s objectives. 
• Collaboration: ability to work closely with the executive board and other key stakeholders, providing support, constructive challenge and assurance as appropriate.

Desirable criteria

• A strong track record of delivery in, or exposure to the Energy or Infrastructure sector. 
• Commercial experience gained at senior executive level in a major company or as a Chair/Senior Independent Director of a FTSE Board

Application and selection process

How to apply

HM Treasury and UKGI have engaged Nurole to support them in this recruitment, and applicants should apply via: Nurole | The board director and senior executive job site

Applications, including a CV, supporting statement and completed Diversity and Conflicts of Interest form should be submitted via the link above site. 

In order to apply you will need to provide the following by 4.00pm on Thursday 11 September 2025:

1. A Curriculum Vitae which provides your contact details, details of your education and qualifications, employment history, directorships, membership of professional bodies and details of any relevant publications or awards
2. A supporting statement setting out how you meet the criteria for appointment, as set out in the person specification for the role;
3. Information relating to any outside interests or reputational issues; 
4. Diversity monitoring information. 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” to any question you do not wish to answer. The information you provide will not be used as part of the selection process and will not be seen by the interview panel;
5. Disability Confident – please state if you want to be considered for the disability confident scheme;
6. Reasonable adjustments - requests for reasonable adjustments that you would like to the application process (if applicable);

Please provide the information at points 3-6 above on the relevant form, or as part of your supporting statement.

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 Essential Criteria in the Person Specification section. Failure to address any or all of these may affect your application. 

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.

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)

Panel Chair

• Sean Jones (HMT, Director, Companies and Economic Security)

Panel Members 

• Vindi Banga (UKGI, Chair)
• Dame Clara Furse (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 tanya.brain@nurole.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.

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 ‘essential 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

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

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 ten years in any one post. 

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. If you feel your application has not been treated fairly and you wish to make a complaint, you should contact enquiries@nurole.com in the first instance..

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.

 The privacy notices for the Treasury, and the UKGI are attached. 

 The privacy notice for the Nurole is here

Contact details

If you have any queries regarding this position and would like to find out more, please contact tanya.brain@nurole.com

Attachments

• Diversity information and conflicts of interest form

• Treasury Privacy Notice

• UKGI Privacy Notice