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. USSL is the trustee of USS and is led by a Board of directors comprised of 3 directors appointed by the University and College Union (UCU), 4 directors appointed by Universities UK (UUK), and 5 independent directors.
UUK invites applications for a director to join the Board of USSL as one of the 4 directors appointed to the Board by UUK. USSL is an equal opportunity organisation. 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 candidate possesses:
- Previous experience of working in a senior and substantial leadership capacity in the Higher Education (HE) sector, including as a member of a university council or equivalent, as well as a deep understanding of the governance structures of HE institutions, the economics of the sector and institutions’ financial models.
- Experience as an executive/non-executive director/ trustee of a complex organisation or charity, or of a governing body and excellent working knowledge of corporate governance best practice.
- Excellent understanding of macroeconomics, investment principles, different assets classes and strategic asset allocation, ESG considerations in investment decisions and of investment choices and implications for members.
- Demonstrable ability to successfully manage complex stakeholder relationships and build buy-in and consensus views on difficult topics.
- Experience developing and successfully delivering strategies at an enterprise level, with an understanding of the USS Scheme and context within which it operates, and a track record of working with others in furthering a common strategic goal in a collaborative manner.
There are certain additional skillsets which are considered to be desirable. 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.
For more information please contact email@example.com. Interested candidates should submit a letter of application – accompanied by their CV – and send these details by email to firstname.lastname@example.org.
Interviews are expected to be held on Friday 8 January 2021 via video call.