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Role Description – RICS Board Chair

The RICS Board

The RICS Board is accountable to Governing Council, which is the prime governing body of RICS, responsible for setting overarching objectives for the organisation.  Governing Council delegates to the RICS Board the oversight and control of the management of the RICS, which is carried out on a day to day basis by the Executive, in accordance with an agreed business plan.  The Board is responsible for promoting the organisation’s long-term sustainable success. Overseeing the development and subsequent implementation by the Executive of a Business Plan that is aligned to the overarching strategic objectives set by Governing Council ensures it delivers value to its members while continuing to uphold and advance the public interest.  The Board is not responsible for matters relating to regulation of members, which is carried out by a separate Standards and Regulation Board (SRB) which also reports to Governing Council.

Four committees report to the RICS Board: Nominations and Remuneration; Audit, Risk Assurance and Finance; Knowledge and Practice; and Global Members.

The Institution is now seeking to appoint a new Chair to provide leadership to RICS Board. The successful candidate must be an RICS member in good standing.

Responsibilities

The RICS Board is responsible for the following:

  • Advising Governing Council on the business plan objectives and direction needed to implement the strategy
  • Implementing the overarching strategic objectives of the RICS, as set by Governing Council through the development of a detailed business plan
  • Providing strategic oversight by holding the Executive accountable for delivery of the RICS business plan, aligned to the strategic objectives set by Governing Council whilst ensuring a constructive and collaborative relationship through appropriate support and challenge
  • Fiduciary accountability, monitoring strategic risks, delivery of planned financial results and financial sustainability and ensuring that the organisation has the resources required to achieve its objectives
  • Managing effectively the relationships between the RICS Board, RICS’s other governance bodies and the Executive, supporting clear accountabilities, constructive collaboration and appropriate challenge
  • Ensuring RICS operates within an effective framework of governance, risk management and controls
  • Ensuring that RICS has the appropriate policies, practices and culture in place to support the strategic objectives and the long-term sustainable success of the institution
  • Considering proposed changes to the RICS Charter, Bye-Laws, Regulations and other constitutional documents and making recommendations to Governing Council where required, in accordance with the relevant decision-making authorities
  • Overseeing the work of Board Committees and reporting to Governing Council on matters within Governing Council’s remit

RICS Board Members

The composition of the Board is currently under review by Governing Council and appointments to the Board will need to be made in the near future.  The new Chair will be involved in participating in this process and will play a key role in shaping the Board.

The Board is currently made up of the following (currently under review):

  • The Chairs of the Global Members Committee and Knowledge and Practice Committees, both of whom are RICS Members
  • The Chairs of the Audit, Risk Assurance and Finance Committee and the Nominations and Remuneration Committee, both of whom are independent non-executives
  • The Senior Independent Governor
  • The DEI and Sustainability leads for RICS, both of whom are RICS Members
  • The Chief Executive

There will always be a majority of RICS members on the Board.

Key Relationships

There is a close working relationship with Governing Council and SRB.  To facilitate this close working relationship the following are standing attendees at RICS Board meetings:

  • The RICS President (or another member of the presidential team), who chairs Governing Council
  • The Chair of SRB who is an independent non-executive
  • The Senior Executive Officer, Standards and Regulation

In turn, the RICS Board Chair is a standing attendee at meetings of Governing Council and SRB.

Main Duties and Responsibilities

The Chair’s primary role is to lead the RICS Board. Key responsibilities include:

  • Leading the Board in overseeing the delivery of the Institution’s strategy (except for those elements within the remit of the SRB), including oversight of the effective delivery of the portfolio of change projects.
  • With the support of the Audit, Risk Assurance and Finance Committee, monitoring the ongoing performance of the Institution, the management of strategic risks and financial sustainability.
  • Setting the agenda for the RICS Board in consultation with the Chief Executive and Head of Governance, and ensuring that the Board provides effective oversight of the development and implementation of the business plan through proportionate governance, financial and performance reporting and open, inclusive discussion that supports and challenges the Executive as appropriate.
  • Promoting a culture of openness and constructive challenge throughout the Institution, owning and demonstrating RICS’ values
  • Developing effective and transparent links between RICS Board, Governing Council and SRB making recommendations to Governing Council as required. In particular, representing the Board’s activity to Governing Council, including their oversight of the work of the Executive.
  • Developing effective and transparent links between RICS Board and the Board committees, ensuring that matters of importance escalated to the Board are resolved. The Board will receive reports, approve recommendations, and resolve issues, where escalated from the RICS Board Committees.
  • Leading and improving the performance and effectiveness of the Board and individual Board members, both in the boardroom and by developing and addressing performance through annual evaluation and appraisal processes.
  • Providing constructive support, oversight and challenge to the Chief Executive, who is responsible for running the day-to-day business, reviewing their performance and setting their objectives. Recognises the distinction between oversight of the Chief Executive and executive management.
  • Ensuring the Board complies with its Terms of Reference, formulating the agendas and format of RICS Board meetings and planning the schedule of work in consultation with the Chief Executive and Head of Governance.
  • Maintaining the highest standards of governance, ethics, culture and values within the Board and its committees. Acting in accordance with the RICS Code of Conduct.
  • Representing RICS with external parties where appropriate, seeking to place RICS at the centre of policies, education and thought leadership in the Built and Natural environment.
  • Championing critical topics across the sector, including diversity, equity and inclusion, sustainability and the technology agenda within the profession.