Do you have a high level of practical, senior level experience in governing and managing investment related businesses or funds? Would you like to become a member of the new States' Investment Board? The States of Guernsey are looking for experienced, committed and community-driven individuals to become full voting members of the States Investment Board (SIB).
To be a full voting member of the States' Investment Board (SIB) responsible for governance and management of all States investments portfolios. The SIB is structured as a sub-committee of the Policy & Resources Committee but is authorised to carry out its duties on a discretionary basis. The SIB reports directly to the Committee in accordance with its Terms of Reference [200kb].
Main duties and responsibilities:
- Supporting the Policy & Resources Committee with setting objectives for each of the Funds.
- Formulation of appropriate investment strategies for each of the Funds, taking account of the agreed objectives and the nature of the underlying stakeholders.
- Monitoring investment strategies throughout the year, on a continuous basis, in order to assess progress towards meeting the stated objectives.
- Appointment of investment consultants or other expert resources, where necessary, to support decision making.
- Appointment and dismissal of investment managers in order to implement the investment strategies.
- Presenting the Committee with an annual report outlining the past year's investment performance and positioning of the portfolios. It will also set out proposals for the future investment strategy for approval by the Policy & Resources Committee.
- Attendance of Board meetings and manager presentations where necessary.
- Promoting strong governance procedures and ensuring the efficient management of the Funds.
Applicants should be able to demonstrate their ability to meet the following criteria.
Experience, knowledge and skills:
- Board experience at an executive or non-executive level within an investment business or fund structure.
- Practical experience at a senior level of managing large / institutional investment portfolios, including asset allocation decision making.
- Competent understanding of a range of investment strategies across a broad range of asset types.
- Technical understanding of good governance practices, and risk management.
- Current or previous investment qualifications demonstrating professional attainment.
- Strong communication skills to engage with professional service providers, stakeholders and the Committee.
- Commitment to maintain a high standard of professional governance and ethical behaviour.
- Strong sense of community commitment.
Remuneration and commitment:
The States of Guernsey have agreed that a remuneration allowance of £8,615 per annum be paid to independent members of the States' Investment Board. It is recognised that this may not be equivalent to similar private sector appointments, but it is hoped that members will feel this role represents a worthwhile contribution to the community. Appointments will be made for a four-year term.
Board meetings will normally be held monthly but avoiding peak holiday periods in July and December. Ad hoc meetings are sometimes necessary but are kept to a minimum. Meeting times are flexibly coordinated to suit Members' circumstances wherever possible. Meetings are normally 90 - 120 minutes in duration.
Successful candidates will be required to provide the Committee with a completed Declaration of Interests and a completed Declaration of Unspent Convictions before their appointment is confirmed.
How to apply
If you wish to apply for this role, please respond by submitting a CV, together with a cover letter and any supporting documentation detailing how you meet the criteria for the position and why you believe you should be considered.
Please also provide the names, positions, organisations and telephone contact numbers of at least two referees. References will only be taken up for those candidates taken forward to the final interview stage.
If you wish to apply or discuss the requirements of the role, please contact Carl Johnson, the Head of Treasury Management, by emailing Carl.Johnson@gov.gg or calling 01481 223601.
Deadline: Friday 6th August.