Businesses apply for finance through its partners who, because they work with the Bank, can lend and invest more, especially to younger and faster growing companies.
In total the Bank works through more than 100 finance partners in the market, and will unlock up to £10 billion of new finance and bring greater choice and information on finance options to smaller businesses.
The long-term success and the strategy of BBB is the collective responsibility of the Board, in consultation with the Department for Business, Energy and Industrial Strategy. Board members promote the highest standards of corporate governance with the personal credibility and presence to engage, as needed, with Ministers and senior Government and business stakeholders. This is a collaborative Board with a constructive approach and a strong belief in the Bank’s mission.
It is important that the new appointee both understands and is aligned to the mission of the Bank appreciating the legal and regulatory parameters within which it operates. Whilst the Bank has operational independence, government ownership brings particular responsibilities both in terms of managing the relationship with the government as a stakeholder, but also in the governance aspects of utilising taxpayers’ money. Candidates will need to navigate these issues being comfortable and confident in developing and managing relationships with key stakeholders.
Chris McComb’s term comes to an end in November 2019 and as such, BBB is seeking an outstanding individual with the highest levels of integrity and independence to join the Board and who in addition, will be a member of the Remuneration Committee.
The right candidates are likely to have the following attributes:
• A good understanding of how financial markets work, with experience gained in banking, asset management, insurance, private equity or small and early stage investments being of interest.
• Broad business and commercial experience as a principal or an advisor.
• Strong analytical and interpersonal skills.
• Credibility and communication skills to operate confidently and effectively both internally and externally.
• Be prepared to be appropriately challenging to the executive and able to scrutinise its performance, whilst also providing appropriate support.
• Be able to work effectively as part of a team in a low ego environment. Flexibility,
a sense of humour and good interpersonal skills are also important.
• Have the intellect and breadth of vision that will enable him/her to fully contribute to strategic and high level operational discussions.
• Apply common sense, pragmatism and good business judgement to key issues.
• Have strong communication skills and the ability to articulate complex issues confidently and clearly.
• Be an enthusiastic, inquisitive and robust individual, committed to pursuing and exploring all issues relevant to the business and governance of the firm.
• Have the time to carry out this role effectively and the interest in BBB to want to add real value to the Board and the business.
BBB is committed to reflecting diversity of all types amongst its Board members.
Time Requirements - The time commitment is expected to be approximately 20 days per year, including two Strategy days and seven formal BBB Board meetings, which will primarily take place in London and Sheffield.
Remuneration - The annual fee payable will be £25,000.
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