Non-Executive Director

Reports To: Chair of the Board of Directors of Pure Retirement

Location: Thorpe Park, Leeds

The Role Overview

We are seeking a credible and experienced Non-Executive Director who can build strong relationships across Pure Retirement, the wider Age Partnership Group (including fellow NEDs), and external stakeholders. The successful candidate will demonstrate the ability to influence at all levels, securing buy-in through professionalism, sound judgement, and strong interpersonal skills. Candidates must be able to operate in line with the principles of Corporate Governance, meeting ‘fit and proper’ standards and demonstrating the highest levels of integrity, prudence, and professional competence. A background in the mortgage sector—particularly mortgage origination—is highly desirable and will support effective contribution at Board level.

Key Outputs

• Attend all Board Meetings, 6/annum, and any committee meetings to which appointed, such as Board Risk Committee;
• Serve on Board Committees if so requested by the Board on the recommendation of the Nominations Committee;
• Attend any planning or other seminars arranged by the Board;
• Contribute to discussions of the Board on affairs of Pure Retirement, reviewing its progress and plans, instigating action as necessary on the part of the executive to achieve business objectives;
• Maintain a watching brief on developments in the financial services industry to consider possible implications for Pure Retirement;
• Assess, on behalf of customers, the conduct of Pure Retirement with regard to products and services provided, ensuring competitiveness, quality and fairness, with security of investors’ funds paramount;
• Coach and guide Pure Retirement’s Head of Risk, who had played a key role in helping refine Pure Retirement’s approach to enterprise risk management and governance more broadly;
• Act as an ambassador for Pure Retirement, thereby generally promoting its business;
• Comply at all times with applicable provisions of the FSMA and with the provisions of the FCA Approved Persons regime implemented thereunder including but not limited to unfailing adherence to the Statements of Principle and Code of Practice for Approved Persons;
• Comply at all times with the provisions of Pure Retirement’s Rules and Board Manual.

Authorities

Directors may be empowered individually, or collectively, by Board resolution, to act in a particular matter, either generally or specifically.

Responsibilities

Legislation specifically requires directors to be responsible for the arrangements regarding the adequacy of security to support loans, the preparation of the annual accounts and report to members and the control of business systems and accounting records. The FSMA’s Regulations and Rules impose significant requirements upon those appointed as Directors by virtue of the provisions of the PRA’s Approved Persons Regime. As a director of Pure Retirement and thereby an Approved Person under that regime, the expectation is that Non-Executive Directors will at all times observe and comply with the requirements of all applicable Rules and Guidance which inter alia embodies compliance with the Combined Code of Corporate Governance. The Corporate Plan is updated annually following strategic review by the directors and the associated Action Plans are approved by the Board, with progress in accordance with the plans monitored on a regular basis. The Treasury and Lending Policy Statements are considered and approved by the Board, as are various other Policy Statements, including Treating Customers Fairly, Fraud and Conflicts of Interest. Issues requiring Board approval, being matters outside the authorities delegated to Pure Retirement’s management, must be considered and decisions reached, to include items such as the launch of new products and services, disposal and acquisition of fixed assets, large capital purchases and determination of interest rates charged to borrowers. The management information presented to the Board must be reviewed regularly as to relevance and timeliness to disclose Pure Retirement’s financial position, its key ratios including the nature limits under the Act, business progress and exposure to operational, business and financial risks.

The Person Overview

It is crucial that shortlisted candidates have the experience and credibility to gain the buy-in and respect from colleagues at all levels, both within Pure Retirement, across the Age Partnership Group (including Non-Executive Directors) and with external stakeholders. All candidates must be able to act in accordance with the principles of Corporate Governance. In particular, they must be ‘fit and proper’, and with the requisite professional skills to act with prudence and integrity. It is also crucial that shortlisted candidates have the experience, credibility, and personal characteristics to gain buy-in and respect from colleagues at all levels, both within Pure Retirement, across the Group and with external stakeholders. A background in mortgages, especially mortgage origination, would be highly preferable.

Skills & Experience

Mandatory

• A deep knowledge of mortgages is preferred. While experience gained in equity release/lifetime mortgages is not pre-requisite, candidates who have substantial experience in mortgage origination and/or possess a broad understanding of later life lending or pensions (as a funding mechanism) would be especially interesting;
• We are not being prescriptive with respect to prospective candidates’ executive background. However, given that the successful candidate will be expected to chair the Board Risk Committee, we imagine that shortlisted candidates are likely to have gained experience in business leadership (e.g. as a Chief Executive) or risk & compliance leadership (as a Chief Risk Officer, or similar); previous experience of leading a business through an IPO would also be ideal;
• A reputation for ethical conduct, with a customer-driven mindset, with a real passion for delivering service excellence. Due to the impact that the FCA’s new Consumer Duty brings to the UK mortgage markets, significant customer orientation is required – specifically to help steer the Board through the changes with respect to competition and growth based on high-standards;
• Be bright, analytical, and intellectually curious;
• Have an engaged, yet low-ego, style; someone who is prepared to contribute to the board, debate and interact with fellow directors and executives;
• Be independent-minded, resilient and challenging when appropriate, but always balanced, constructive and supportive;
• Be flexible, adaptable and self-aware; adept in dealing with a fast-moving business environment;
• Have the intrinsic capabilities to make an all-round contribution to the Board;
• Be free of bankruptcy and association with the direction of insolvent companies;
• Be free of conflicts of interest, actual and potential, between duties for Pure Retirement, and the individual’s personal or business interests;
• Maintain a commitment to fulfilling duties and willing to devote sufficient time to them;
• Have the highest standards of corporate governance, probity and integrity;
• Be able to satisfy prior to appointment and maintain following appointment the personal requirements of an Approved Person under the FSMA.

In addition to the personal requirements stated above, the person appointed to the position will be required to have good all-round business experience and, ideally, should have held a Board appointment within a financial services environment.