Introduction

This authorised and MAF-accredited defined contribution (DC) master-trust, backed by a multi-award winning fast-growth fintech company, is reviewing its professional Trustee Chair appointment. An equal opportunities and diversity employer, applications are invited from all corporate professional trustees, provided that they meet the requirements of the role as set out below.

Specifications

Background

Smart Pension operates the Smart Pension Master Trust, a market leading pension solution designed and run to help employers provide a DC workplace pension savings vehicle for their workers. Founded by experienced finance and technology professionals and initially designed to support UK businesses faced with the challenges of auto-enrolment, the business and savings platform has evolved into offering a much broader pension savings proposition with thousands of satisfied employers, advisers and employees using it.

The Trust is overseen by a corporate Trustee company whose board of directors is made up of non-affiliated professional trustees. The appointment term for the Trustee Chair position is coming to an end and we are now inviting applications from interested parties, including the incumbent.

Role requirements

Act as Trustee Chair: the successful applicant will be required to act as the Chair of the Trustee Board.

Professional entity: due to the nature of the Chair role within the Smart Pension Master Trust, applications are only being sought from corporate professional trustee firms. In order to be considered, the applicant firm must be able to provide a sufficiently experienced trustee and demonstrate an internal support and technical resource, and the ability to provide a named alternative to cover during periods of absence.
 
Meeting attendance: the successful Trustee will be required to attend and chair quarterly Trustee meetings as well as sit on one or more of the four Sub-Committees. In addition to the main board meetings, the Sub-Committees usually also meet quarterly. All meetings require preparation and follow-up work.

Interim work: where possible, all required work and decisions will follow the cycle of Trustee and Sub-Committee meetings. However, there will be times during the course of a year where ‘out of cycle’ and ad-hoc projects arise. The successful Trustee will be expected to be available to attend to these if necessary.

Experience: ideally you will have a strong general background in UK pension provision including a deep technical understanding of all aspects of DC pensions legislation and regulatory requirements, and significant knowledge of developing current industry issues. You will have demonstrable experience of acting as chair of a trustee board, or have the ability and experience to take on this role.

You should have the ability and drive to integrate quickly with the Trustee board (five Trustee directors in total) and get up to speed with current issues and projects. You may be required to take the lead on certain projects.

Fitness and propriety: you will be aware of the elements of the ‘fit and proper’ tests required under the master-trust authorisation and supervisory regime and will be happy for an accredited external provider to undertake a review prior to you taking on the role, and on a regular basis whilst you act as a Trustee.

Location: the role is based in Paddington in central London, close to mainline and underground rail links.

Remuneration

The remuneration for the role will be a market competitive rate that reflects the skills and expertise of the job holder.

Deadline for applications

The deadline for expressions of interest is 12 March 2020. Applications from interested parties will only be considered if received by this date. Expressions of interest should include a brief overview of your firm, your own experience and why you believe that you will be suited to the role. Successful expressions of interest will be followed up with a formal Invitation to Tender.