Chair of the

Single Financial Guidance Body

Information Pack

February 2018

Closing date: 4 March 2018

Contents

Overview

A message from the Minister for Pensions and Financial Inclusion

About the Single Financial Guidance Body

About the Board

Role of the Chair

Essential / Desirable Criteria

Terms of appointment

How to apply and the selection process

Annex 1 – Public Body Code of Conduct

Annex 2 – Conflicts of Interest

Overview

In October 2016 the Government announced that it plans to replace the three current guidance organisations - The Pensions Advisory Service (TPAS), Pension Wise and the Money Advice Service (MAS), with a single public body, offering debt advice, money and pensions guidance. Ministers believe creating a Single Financial Guidance Body (SFGB) will be more efficient and, because of its cross cutting nature, will ensure there are no gaps in service and so enable consumers to make the right financial decisions.

The Financial Guidance and Claims Bill that will create the organisation is currently going through Parliament. The Government anticipates that the new body will be launched no earlier than Autumn 2018. All three services will continue to operate at launch, under the SFGB as the umbrella organisation, to enable continuity of service (business as usual) for consumers whilst the new body is designed and built.

The new organisation will be overseen by a Board consisting of executive and non-executive members, and supported by staff who will carry out the day to day running of the public body’s functions.

The Department now wishes to appoint a Chair to lead the SFGB Board. The appointment will be made by the Secretary of State for Work and Pensions, following the principles of the Governance Code for Public Appointments.

To ensure operational readiness the Chair needs to be ready to take up appointmentby1 June 2018 (subject to the Bill progressing through parliament as anticipated).

A Message from Guy Opperman, Minister for Pensions and Financial Inclusion (Parliamentary Under-Secretary of State)

Thank you for your interest in applying for the position of Chair of the new single financial guidance body.

This important role requires strong leadership and oversight over the establishment and running of a new non-departmental public body. There are two key challenges for the incoming Chair. In the short-term, the successful candidate will preside over the dissolution of the three existing government sponsored guidance providers and the transition to a single financial guidance body. In the longer term, the Chair will oversee the body’s business as usual activity as it delivers on its functions and objectives.

The Chair will have an important leadership role to play in ensuring that the transition from the old services to the new body is achieved smoothly, and – through effectively overseeing the work of the new body – in ensuring the Government delivers its commitment to ensure that members of the public have access to the information and guidance they need to make effective financial decisions throughout their lives.

This is a challenging but rewarding role, involving overseeing an important area for the Government and being a leader on improving financial capability in the UK. If you have the experience and skills that we are seeking, I would welcome an application from you.

If you have questions about the appointment process, you can contact Carmela Keogh, DWP Public Appointments Team, on

020 7449 7181;

0207 449 7437;or

0207 340 4664.

Alternatively you can e-mail us on

If you have questions about the role itself, please contact Clare Talbot on

Guy Opperman MP

Minister for Pensions and Financial Inclusion

About the SFGB

The SFGB will replace the three existing providers of government-sponsored financial guidance – the Money Advice Service (MAS), the Pensions Advisory Service (TPAS) and Pension Wise – bringing together the provision of debt advice, money guidance and pensions guidance for the first time. A new, single body provides an opportunity to deliver a more stream-lined service to members of the public providing easier access to the information and guidance people need to help them make effective financial decisions throughout their lives.

The new body will have four core functions:

  • The pensions guidance function – to provide information and guidance to the public on matters relating to occupational and personal pensions;
  • The money guidance function – to provide information and guidance designed to enhance people’s understanding and knowledge of financial matters and their ability to manage their own financial affairs;
  • The debt advice function – to provide members of the public in England with information and advice on debt; and
  • The strategic function – to work with others in the financial services industry, the devolved authorities, and the public and voluntary sectors to develop a national strategy to improve the financial capability of members of the public, the ability of members of the public to manage debt, and the provision of financial education to children and young people.

We intend the body to be founded on three core principles. The new body will:

  • Be people focused – by putting the user experience at the heart; allowing the organisation to adapt to people’s changing needs and to prioritise services, where appropriate, for particular groups;
  • Deliver value for money – through providing a first class service, avoiding duplication and delivering in the most cost-effective way; and
  • Be sustainable – by focussing on building an organisation that is fit for the future, empowered to keep pace with an ever-changing environment.

The body will be primarily funded by levies on both the financial services industry and pension schemes. The Department for Work and Pensions will be the sponsor department for the new body, but the body will also engage with HM Treasury, which has policy responsibility for the provision of government sponsored financial guidance and debt advice.

About the SFGBBoard

The SFGB Board will be responsible for:

  • Setting and overseeing delivery of SFGB’s strategic aims and objectives within the agreed policy and resources framework agreed with Ministers
  • Ensuring that effective arrangements are in place to provide assurance on governance, risk management and internal control; and
  • Appointing the Chief Executive, setting their performance objectives and remuneration with Ministerial consent.

The SFGB Board will consist of the Non-Executive Chair, the Chief Executive, and a number of Non-Executive and Executive Members. The precise composition and required skillset of the board will be determined in accordance with the needs of the new organisation’s strategic aims and objectives but we expect these to reflect the three organisations it will be replacing – Money Advice Service, The Pensions Advisory Service and Pension Wise.

The Role of the Chair

The Chair is a high profile role at the helm of a large, new and significant guidance body responsible for merging the services of three respected and well-established organisations, ensuring that the Board and the SFGB staff that support it work effectively.

The new Chair will need to be able to effectively and confidently represent the body, acting as the public face of the organisation. The successful candidate will have exceptional leadership and communication skills to fill this challenging role and be able to engage collaboratively and persuasively with a very broad range of senior stakeholders including Ministers, Government officials and other key external stakeholders.

Working collaboratively with the Chief Executive, the Chair will initially need to focus on managing a challenging transition of merging the three existing organisations effectively as well as driving forward the design and development of the new organisation therefore the job role reflects key start up and transitional requirements. As the new body beds in, the Chair will also become responsible for the effective operation of the Board and its Committees.

In the initial stages, the Chair will have responsibility for recruiting a Chief Executive and new non-executive board members, defining the strategy and ensuring the body is ready to go live. Therefore the time commitment is likely to be greater in the early months.

Once the organisation is up and running, the Chair will have responsibility for:

  • Building a new culture and setting a strategic direction for the organisation in a time of change for the short and long term;
  • Leading the successful transition from three, well-recognised organisations with strong ‘brands’ to one new single financial guidance body, effectively drawing out efficiencies;
  • Acting as an ambassador for SFGB to build, maintain and enhance a positive and creditable reputation;
  • Building constructive and effective relationships at a strategic level with DWP, HMT and their Ministers, as well as with devolved administrations;
  • Liaising effectively with a wide and diverse landscape of partner organisations and other external and internal stakeholders;
  • Leading the Board in supporting the Executive Team and providing constructive challenge as the organisation delivers its strategic objectives;
  • Chairing Board meetings and ensuring the effectiveness of the Board including encouraging a full contribution from all members;
  • Taking a pro-active commitment to the professional development of Board colleagues, leading with sensitivity to people issues and demonstrating high emotional intelligence; and
  • Conducting an annual review of the effectiveness of individual board members and arranging for regular reviews of overall effectiveness to take place.

Essential Criteria

●You will have strong and effective leadership qualities with the ability to shape and support the delivery of the strategic objectives of the new organisation, and the ability to lead through others during a period of significant change.

●You will be an experienced non-executive, able to demonstrate an excellent knowledge of corporate governance and a clear understanding of the role of the executive versus that of non-executive;

●You should possess an excellent understanding of, and commitment to, building a service for the consumer and the delivery of high quality customer service to members of the public;

●In this role you must be able to build constructive relationships at all levels - communicating effectively and persuasively whilst demonstrating sound judgement, in support of the successful delivery of the organisation’s objectives including an ambitious national strategy that seeks to improve the financial capability of members of the public as well as the provision of financial education to young people;

●You must be able to demonstrate a strong ability to represent a large high profile organisation effectively. You should also be capable of demonstrating authoritative leadership across a number of sectors with credibility and influence; and

●Able to fulfil the role with professional integrity, exemplifying the highest standards of behaviour in public life.

Desirable Criteria

  • An understanding of the economic and political environment within which the public sector operates;
  • Knowledge of the pensions landscape; and
  • Understanding of consumer debt issues and the debt advice sector.

Terms of Appointment

  • The appointment will be made by the Secretary of State for Work and Pensions for a period of up to 5 years.
  • We would like the successful candidate to take up appointment by 1 June 2018.
  • It is envisaged that the Board will meet on average nine times a year. Two of these meetings are likely to be reserved as strategy days. The Chair is also likely to be required to attend a number of other Board Committees, the nature of which are yet to be agreed as part of the initial design of the new body within the legislative framework.

Remuneration

  • Remuneration for the post will be £133,000per annum(full time equivalent). Actual remuneration will be based on the average number of days the Chair is required to work.
  • During the set-up phase, and at least for the first six months, the Chair will be expected to work around four days per week (remuneration at £106k). Once the set up stage has been completed, the Chair will revert to 3 days per week (remuneration set at £80k per annum). The ongoing time commitment will be reviewed at the annual performance review, aiming to reduce it to 2-2.5 days/week once the organisation is in steady state.
  • There will be entitlement to annual leave entitlement of 30 days per year (pro rata) andpublic and privilege holidays
  • There is no bonus or pension entitlement.
  • SFGB will initially be based in London.Reasonable travel expenses and subsistence relating to official business will be reimbursed.

Performance Appraisal

The Chair will be assessed at least once a year against objectives for each year of the appointment and linked to the performance of SFGB. The appraisal will be carried out by a person of appropriate level within DWP.

Standards in public life, political activity, eligibility and conflicts of interest

Standards in public life

Candidates must confirm that they understand the standards of probity required of public appointees outlined in the ‘Seven Principles of Public Life’ drawn up by the Committee on Standards in Public Life (see Annex 1).

Conflicts of interest

Applicants, in their supporting letter, must disclose information on personal connections, which if they were appointed, could lead to a conflict of interest or be perceived as such.

It is very important therefore that all applicants provide appropriate details in their supporting letter of any interests, which might be construed as being in conflict with the appointment for which they are applying. If it appears, from the information provided on the form, that a possible conflict might exist, or arise in the future, this will be fully explored with the applicant with a view to establishing whether it is sufficiently significant to prevent the individual from carrying out the duties of the post. The panel will do this at interview stage.

Annex 2 provides information on conflicts to help applicants evaluate whether or not they have a potential conflict.

Diversity and Equality of Opportunity

The Equality Act 2010 legally protects people from discrimination in the workplace and in wider society. DWP is committed to implementing the Act in all recruitment and selection activity.

The Department is committed to providing services which embrace diversity and which promote equality of opportunity. As an employer, we are also committed to equality and valuing diversity within our workforce. Our goal is to ensure that these commitments, reinforced by our Values, are embedded in our day-to-day working practices with all our customers, colleagues and partners. We do not discriminate on the basis of age, disability, gender, marital status, sexual orientation, religion or belief, race, colour, nationality, ethnic or national origin, or (in Northern Ireland) community background, working pattern, employment status, gender identity (transgender), caring responsibility, trade union membership.

How to Apply

In order for us to progress your application please submit the following completed documentation:

  1. A CV (maximum 2-3 pages) with your education and professional qualifications and full employment history.
  2. An accompanying Supporting Letter (maximum 2 pages, font 12) – this is your opportunity to demonstrate how you meet each of the essential and desirable criteria set out in the Candidate Pack. You should aim to provide specific examples that demonstrate how your knowledge and experience matches each of the criteria, and which describe what your role was in achieving a specific result.

Please ensure yourname isclearly noted at the top of your letter.

  1. Public Appointment Monitoring Form. This form will not be disclosed to anyone involved in assessing your application. This form includes:
  • Personal information
  • Equal opportunities monitoring declaration;
  • Political activity declaration and
  • Conflicts of interest declaration.

Guaranteed Interview Scheme for Disabled Applicants

The Department for Work and Pensions operates a Guaranteed Interview Scheme (GIS) for disabled people. The Equality Act 2010 defines a person as disabled if they have a physical or mental impairment and the impairment has a substantial and long term adverse effect on their ability to carry out normal day-to-day activities. Under the GIS a disabled candidate will be selected for interview if they meet the minimum criteria for the role decided by the selection panel at sift. To ensure fairness, the panel will not be informed of who has applied under the GIS until they have set the minimum criteria at the sift meeting.

If you wish to apply for consideration under the scheme, please complete the Guaranteed Interview Scheme Declaration and send it with your application.

Reasonable Adjustments

If you have a disability and require reasonable adjustments to enable you to attend for interview, please advise us when you return your application.

The closing date for applications is 11pm Sunday, 4 March 2018.

Please email your application to:

If you are unable to apply by email you may send your application by post to:

Carmela Keogh, ALB Public Appointments Team, Department for Work and Pensions | Private Pensions and Stewardship | 1st Floor, Caxton House | Tothill Street | SW1H 9NA

If you have any difficulty in sending your application or need the application pack in an alternative format (e.g. Braille, large print, audio CD, tape or e-text), please contact the ALB Public Appointments Team on 0207 7449 7181 or 020 7449 7437

The Selection and Recruitment Process

All appointments are made following an open competition conducted in accordance with the Code of Practice published by the Commissioner for Public Appointments.

Short listing of candidates will be undertaken by assessing the information provided in your CV and Supporting Letter. The short listing will be undertaken by a selection panel against strict criteria.

Selection panel Members

The panel will consist offour members: