Aug 302019
 

Non-Executive Director and Member of the Remuneration Committee - British Business Bank (BBB)

Location: London
Date Posted: 28/08/2019
Closing Date: 18/09/2019

Vacancy Description

The UK Government established the British Business Bank (BBB) in 2014. The British Business Bank is 100% Government owned but independently managed. It brings expertise and Government money to the smaller business finance markets. The Bank doesn’t lend or invest directly. Instead it works with over 100 partners such as banks, leasing companies, venture capital funds and web-based platforms.Businesses apply for finance through its partners who, because they work with the Bank, can lend and invest more, especially to younger and faster growing companies.

In total the Bank works through more than 100 finance partners in the market, and will unlock up to £10 billion of new finance and bring greater choice and information on finance options to smaller businesses.

The Bank has six objectives:

  1. increase the supply of finance available to smaller businesses where markets don’t work well.
  2. help to create a more diverse finance market for smaller businesses, with a greater choice of options and providers.
  3. encourage and enable SMEs to seek the finance best suited to their needs.
  4. manage taxpayer resources efficiently and within a robust risk management framework.
  5. be the centre of expertise on smaller business finance in the UK, providing advice and support to Government.
  6. identify and help to reduce imbalances in access to finance for smaller businesses across the UK.

The British Business Bank’s work and corporate culture is driven and supported by its organisation’s values:

  • Enabling – our overarching ethos
  • Connecting
  • Innovative
  • Openness
  • Talent
  • Commercially Responsible

The long-term success and the strategy of BBB is the collective responsibility of the Board, in consultation with the Department for Business, Energy and Industrial Strategy. The board of BBB plc also operates through four board committees:

  1. Audit,
  2. Risk,
  3. Remuneration and
  4. Nomination.

The new appointee will Chair the Remuneration Committee.

Board members promote the highest standards of corporate governance with the personal credibility and presence to engage, as needed, with Ministers and senior Government and business stakeholders. This is a collaborative Board with a constructive approach and a strong belief in the Bank’s mission.

The successful candidate will:

  • Contribute to setting, monitoring and challenging the strategic direction of the Bank, by assisting in developing key strategic objectives, overseeing the achievement of those objectives and challenging the on-going appropriateness of those objectives.
  • Contribute to open and honest debate at Board meetings and provide constructive challenge to the executive decisions, adding diversity of thought and industry experience to the Board.
  • Promote the long-term success of the Bank and ensure the accountability of the Bank, scrutinising the performance of management in meeting agreed goals and objectives and monitoring the reporting of performance.
  • Uphold high standards of integrity and probity and support the Chairman and executive directors by seeking to instil the appropriate culture, values and behaviours in the boardroom and beyond.
  • Commit sufficient time and resource to fulfil all functional responsibilities and continually develop personal capabilities to do so.

Further details on the Bank can be found on the website at https://www.british-business-bank.co.uk/

Person Specification

It is important that the new appointee both understands and is aligned to the mission of the Bank appreciating the legal and regulatory parameters within which it operates. Whilst the Bank has operational independence, government ownership brings particular responsibilities both in terms of managing the relationship with the government as a stakeholder, but also in the governance aspects of utilising taxpayers’ money. Candidates will need to navigate these issues being comfortable and confident in developing and managing relationships with key stakeholders.

Chris McComb’s term comes to an end in November 2019 and as such, BBB is seeking an outstanding individual with the highest levels of integrity and independence to join the Board and who in addition, will be a member of the Remuneration Committee.

The right candidates are likely to have the following attributes:

  • A good understanding of how financial markets work, with experience gained in banking, asset management, insurance, private equity or small and early stage investments being of interest.
  • Broad business and commercial experience as a principal or an advisor.
  • Knowledge of SMEs is desirable.
  • Strong analytical and interpersonal skills.
  • Credibility and communication skills to operate confidently and effectively both internally and externally.
  • Be prepared to be appropriately challenging to the executive and able to scrutinise its performance, whilst also providing appropriate support
  • Be able to work effectively as part of a team in a low ego environment. Flexibility, a sense of humour and good interpersonal skills are also important.
  • Have the intellect and breadth of vision that will enable him/her to fully contribute to strategic and high level operational discussions.
  • Apply common sense, pragmatism and good business judgement to key issues.
  • Have strong communication skills and the ability to articulate complex issues confidently and clearly.
  • Be an enthusiastic, inquisitive and robust individual, committed to pursuing and exploring all issues relevant to the business and governance of the firm.
  • Have the time to carry out this role effectively and the interest in BBB to want to add real value to the Board and the business.
  • BBB is committed to reflecting diversity of all types amongst its Board members

Additional Information

Given the nature of public appointments, 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 Assessment Panel and provide details of the issue/s in your supporting letter. 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 any issues with you before they make a recommendation on the appointment.

Failure to disclose such information could result in an appointment either not being made or being terminated

How to Apply

In order to apply, please submit a comprehensive CV.

The preferred method of application is online at:

www.odgers.com/73318

If you are unable to apply online please email:

peter.henry@odgersberndtson.com

This post is NOT regulated by The Commissioner for Public Appointments.

Sorry, the comment form is closed at this time.