Chair - Pension Protection Fund (PPF)
Recruiter: Department for Work & Pensions
Location: London (Due to Covid-19 restrictions meetings may be held remotely
Salary: £60,000 Per Annum
Posted: 26 Feb 2021
Closes: 15 Mar 2021
Job Function: Chair
DWP is seeking a Chair for the PPF with exceptional communication and leadership skills to fill this challenging role.
The Pension Protection Fund (PPF) is a public corporation, established by the Pensions Act 2004, which has been protecting members of eligible defined benefit pension schemes across the UK since April 2005.
The PPF is run by an independent Board and is accountable to Parliament through the Secretary of State for the Department for Work and Pensions. It offers protection to nearly 10 million members belonging to more than 5,300 occupational defined benefit pension schemes. If an employer becomes insolvent and its defined benefit pension scheme has insufficient assets to pay its members what they were promised, the PPF pays compensation for their lost pensions. Before the PPF was established members in this situation would have been at risk of losing their pension benefits.
Role of the Chair
The successful candidate will be collaborative, persuasive and have the ability to engage effectively with a very broad range of key stakeholders. They will have responsibility for:
- Setting strategic direction for the organisation in a time of change for the short and long term and effectively drawing out further efficiencies;
- Working closely with the Board especially the Chief Executive, ensuring PPF is managed effectively and that PPF objectives and strategy are translated into clear management objectives;
- Leading the Board in challenging and supporting the executive team;
- Chairing Board meetings and ensuring the effectiveness of the Board including encouraging a full contribution from all members;
- Acting as an Ambassador for PPF to ensure the positive and creditable reputation it enjoys is maintained and enhanced;
- Building constructive and effective relationships at a strategic level with DWP and its Ministers;
- Liaising with external and internal stakeholders; and
- Conducting an annual review of the effectiveness of individual board members and arranging for regular reviews of overall effectiveness to take place.
Location: London (Due to Covid-19 restrictions meetings may be held remotely e.g. via telephone/video links)
Remuneration: £60,000 Per Annum
Time Requirements: 2 days per week - 104 days annually
The vacancy closes at 12pm on 15/03/21. For more information about the role and how to apply please click here