Fee: £36,235* p/a. London based (with occasional travel to USS’s Liverpool office)
Universities Superannuation Scheme (USS), with c440,000 members, and more than £68 billion in assets, is one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, USS is entrusted by c340 higher education institutions to manage and administer the pension scheme and its investments through Universities Superannuation Scheme Limited (USSL) and its wholly owned subsidiary USS Investment Management Limited.
With the upcoming retirements from the board in Autumn 2021 of two independent directors, USS invites applications for two independent non-executive directors to join the board, with a focus on (i) pensions administration and (ii) investment management (in a pensions context). We celebrate diversity and are committed to creating an inclusive environment for all employees, non-executive directors and contractors and would welcome applications from a wide range of candidates.
The Board has significant responsibilities for the governance and oversight of a business providing complex operational and advisory functions within a heavily regulated environment and Board members need experience, expertise and capabilities proportionate to this. All Board members therefore require exceptional strategic thinking, leadership, communication, influencing, teamwork and decision-making skills.
It is essential that the successful candidates possess:
Pensions administration role
Recent experience of pensions administration, gained as a senior member of the management team of a pension fund/pensions administration business
Operational experience negotiating and/or managing high-value contractual relationships with suppliers and implementing procurement strategies
Experience as a non-executive, or alternatively a track record of managing stakeholder relationships at trustee/ non-executive level.
Comprehensive experience of overseeing risk management, compliance and internal auditing processes
Investment Management role
Recent senior track record of successful investment decision-making working with or for large pension schemes (min £10 bn AUM)
Experience as a non-executive, or alternatively a track record of managing stakeholder relationships at trustee/ non-executive level
There are certain additional skillsets which are considered to be desirable, including actuarial valuations. Further details are available in the full role profile.
Time Commitment: Approximately 30 days per annum. Duration: An initial term of office of 4 years with the possibility of reappointment.
These appointments are being run by board hiring specialists Nurole. Go to www.nurole.com/roles/4kZM (Pensions Administration) or www.nurole.com/roles/ee0f (Investment) to find out more. The closing date is 22 April 2021 and interviews are expected to be held the week commencing 10 May.
*Increased fees are payable for directors who chair one or more of the board’s standing committees. Reasonable travel and subsistence expenses are reimbursable.