INTRODUCTION
Big Society Capital (BSC) has now been operating for over ten years and we are currently midway through implementing our 2025 strategy to scale social impact investment and improve peoples’ lives in the UK. We are excited to have opportunities to recruit new Board members to join us in the next stage of our mission.
Big Society Capital is a financial institution with a social mission. It was set up in 2012 to build the social investment market in the UK, addressing some of the most intractable social issues in the UK. It gives charities and social enterprises access to repayable finance that enables them to grow and increase their impact on society. Over the last ten years Big Society Capital has helped grow the social investment market almost ten-fold to £7.9bn in 2021.
Big Society Capital acts as both a champion for the social investment market and as an investor, providing capital to social finance intermediaries. These intermediaries provide finance and support to charities and social enterprises. With a current balance sheet around £600m, Big Society Capital expects to continue to grow its investment portfolio and play a crucial role, alongside government the social sector, and other investors in leading the development of a vibrant investment market in the UK.
Big Society Capital judges its success by the direct impact on people its investments make and the broader change it contributes to in the system of tackling social issues over the long term – through building sustainable enterprises, new impact financing approaches and changes in policy and markets – or more simply system change.
As a Disability Confident organisation, we guarantee an interview for all candidates with disabilities who meet the minimum criteria for the job. We are defining a disability in accordance with the Equality Act 2010, as a person who has a physical or mental impairment, and the impairment has a substantial and long-term adverse effect on their ability to carry out normal day-to-day activities. You will be asked in your application whether this applies to you.
Equality, Diversity and Inclusion: Big Society Capital is committed to being a diverse organisation that is truly representative of the communities we serve. We are an equal opportunities employer with an inclusive environment where all employees and Non Executive Directors can contribute to their fullest potential. We want every colleague to be able to deliver their work with dignity, equality, comfort and independence. Our office is fully accessible with step-free access and an open-plan set up. We are open to accommodation requests regarding assistive technologies, accessibility tools, flexible working or any other reasonable adjustments that will make working or visiting here more accessible for you. If you have a disability or other access needs and require any support to assist you through the recruitment process, please get in touch with Lucy Kythreotis from Green Park at lucy.kythreotis@green-park.co.uk
ROLE DESCRIPTION
Location: London, EC4A
Accountable to: The Chair of the Board
Contract type: Initial 3 year term, Non Executive role
Remuneration: £8,700 per annum.
Overview of the Role:
Big Society Capital is looking to appoint a new Non-Executive Director as a result of a Director retiring. This is an opportunity to join a supportive, passionate and collaborative Board, lend your voice to the creation and shaping of this Company’s strategic direction and oversee the delivery of its mission and objectives.
The role would suit candidates who have a passion for improving people’s lives, an interest in being part of the solution to complex social issues, and a willingness and enthusiasm to represent Big Society Capital’s values through their attitudes, experience and by applying their skills.
The Big Society Capital Board believes that the Company’s leadership should be representative of its diverse stakeholders. Applications would be particularly welcome from candidates from demographics and backgrounds which are currently under-represented on the Board.
The social sector is a key stakeholder for Big Society Capital, and the Board seeks to ensure the right balance in its composition, between financial services and social sector experience. Candidates who have recent or current experience working in the social enterprise sector, or who could bring valuable insights from a social sector and/or social enterprise perspective would thrive in this position and be of great help to Big Society Capital in guiding it towards its mission.
Key Responsibilities of the role:
As part of a supportive and collegiate Board you will work together to:
- Constructively challenge and contribute to the development and evolution of a strategy which should be driven by impact;
- Scrutinise the performance of management in meeting agreed goals and objectives and monitor the reporting of performance;
- Ensure that the Board represents and is mindful of the interests of the Company’s various stakeholders, including social enterprises, staff, investors, and fund managers.
- Consider whether financial information is accurate and confirm that financial controls and systems of risk management are robust and defensible;
- Uphold high standards of integrity and probity and support the chair and CEO in instilling the appropriate culture, values and behaviours across the Company.
The Role of the Board:
The Board as a whole is collectively responsible for the success of the Company. The Board’s role is to:
- provide leadership to the Company within a framework of prudent and effective controls which enable risk to be assessed and managed;
- set the Company’s strategic aims, ensure that the necessary financial and human resources are in place for the Company to meet its objectives, and review management performance; and
- set the Company’s values and standards.
PERSON SPECIFICATION
Essential experience
The successful candidate will:
- Have a demonstrable interest in social issues, (this could include direct lived experience or by working with a charity or other beneficiary of social investment).
- Be a strong communicator with the interpersonal skills and ability to engage, influence and develop effective relationships to drive consensus-building;
- Be familiar with social or impact investment (either in the UK and/or internationally);
- Be able to bring valuable insights from a social sector or social enterprise perspective to inform and guide the Board towards its mission.
Desirable experience
- Experience of working with social enterprise organisations or organisations in the social sector.
- Investment management expertise.
- Experience within government or public sector commissioning or procurement.
- Experience of service on Board, Board Committee or an equivalent body is helpful but not a requirement.
Skills, abilities and attributes
- A passion for improving lives in the UK through investment
- A willingness and enthusiasm to represent and build the profile of Big Society Capital
- Comfortable advising senior policy makers as well as financial or social sector leaders
- A strong intellect and an understanding of governance
- A questioning mind combined with strong integrity and sound judgement
- The ability to draw on experience and to consider a wide range of factors when making decisions
- The ability to promote a culture of inclusion, openness and trust and gain the respect of other Board members
- A coaching and development style, being available to the CEO and other Board members for discussion and providing feedback in a candid but constructive way
Remuneration and terms
- This is a non-executive role
- All applicants must have an existing Right to Work in the UK
- Remuneration of £8,700 per annum.
- Time Commitment: The appointment is for an initial three-year term. There will be at least four full Board meetings per year. It is estimated that the total annual time commitment for acting as a Board Member is 10 – 15 days a year.