Candidates would be expected to have skills and experience in, and an understanding of:The development and implementation of Member/customer retention strategiesThe development and implementation of marketing strategiesThe savings and investment landscape in the UKDistribution channels currently employed by the SocietyProduct/proposition development and reviewThe regulatory environment in respect of the marketing and advertising of savings, investments and protection products in the UKThe PRA/FCA regulatory regimes applicable to Financial Mutuals'With Profits' funds and products.
Experience does not necessarily need to be restricted to the mutual sector; other regulated financial services hold equal appeal. Relevant qualifications would be advantageous.
Candidates must also be able to demonstrate:Sound strategic judgement and strong commercial acumenA collaborative approach to working, including a readiness to listen to the views of others and the ability to challange, support and influence constructivelyA clear understanding of the role and responsibilities of a NED in a financial services regulated organisationThe ability to grasp a wide range of complex financial issuesA high level of integrityAn appreciation of mutual values and a passion for serving Members' interestsGood communication and presenting skills.
An appointee's time commitment may vary depending on their specific skills and attributes.
The Board meet regularly in Yorkshire, around 8 times a per year, in order to retain full and effective control and to monitor the actions of the executive team.
In addition, a new independent NED would be expected to be a member of, and contribute effectively to, at least one of the Society's sub-committees. These take responsibility for Investments, Risk, Audit, With Profits, Nominations and Remuneration.
A Non-executive Director will be expected to dedicate 2 - 3 days per month to the role, split over approximately 8 Board meetings and 2 other full-day meetings per year in person (mostly on Saturdays), review monthly management information and participation in Board sub-committees (usually via conference call).
Fees will depend on the time commitment of the successful candidate but are likely to be in the region of £5,000 - £10,000 p.a. Travel and hotel expenses are also covered by the Society.
The appointment is expected to be made in the early part of Q1 2019 and will be for an initial 3-year period.
Any appointment will be subject to regulatory approval, an agreement to standard Board terms of appointment and ratification at the Society's AGM in June 2019. You must also be eligible to work in the UK.
Kingston Unity Friendly Society Limited is a Yorkshire-based financial mutual which has been 'helping Members secure their financial future' throughout the United Kingdom for over 177 years. Its c.100,000 Members have a variety of policies with the Society, many of which are linked to the Society's open With Profits fund.
The Society's medium-term strategy is to grow its With Profits fund to at least £100m over the next 5 years by offering investment products with returns which exceed deposit based returns through 3 distribution channels: (i) 3rd Party Financial Advisors; (ii) 3rd party introducers and (iii) Direct sales.
By following this strategy over the last five years, the Society's assets under management have grown significantly, but necessary changes in distribution strategy over the last few years have inevitably slowed the growth during a transition period. The Board now wishes to further stimulate this growth with 1 new appointment with relevant skills and expertise to complement the existing Board.
The Society shall ensure that discrimination and stereotyping play no part in the recruitment, selection and appointments process at all levels.
The Society's Diversity Policy recognises and values the differences between people and understands the positive benefits for our Members of employing and appointing a diverse range of talented people.
In taking this positive approach to diversity, the Society appoints on merit alone and free from bias on the grounds of factors such as age, disability, gender, sexual orientation, race, religion or belief, that are not relevant to the person's ability to fulfil the role, subject to the Society's rules.