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 4 directors appointed by Universities UK (UUK), 3 directors appointed by the University and College Union (UCU), 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:
- Experience of working in a senior and substantial leadership capacity in the Higher Education (HE) sector including, but not limited to, Vice Chancellors or 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.
- Demonstrable skills in relation to developing and successfully delivering strategies at an enterprise level combined with an understanding of the USS Scheme and the context within which it operates.
- Good working knowledge of defined benefit (DB), defined contribution (DC) and mixed benefit pension funds.
- Excellent working knowledge of corporate governance best practice and The Pensions Regulator’s codes of practice and guidance.
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 3 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
The closing date for applications is 10th May 2020. Interviews are expected to be held on 16th June 2020 in London.
*Increased fees are payable for directors who chair one or more of the board’s standing committees. Reasonable travel and subsistence expenses are reimbursable.