Independent Governance Committee (IGC)

One of our clients is looking for additional independent members to join their IGC. If you are interested in applying please send a CV to Richard Butcher at rbutcher@ptluk.com 

CVs sent after 9am on 23 March 2015 will not be considered

Background

From April 2015 all insurance companies with books of Workplace Personal Pensions (WPPs) are required to have an Independent Governance Committee (IGC). The IGC will operate as an independent board within the insurer. Its duty will be to assess the value for money of the WPP and to act in the best interests of relevant members as stated in the committee’s Terms of Reference.

Salary: IGC membership will be a non-executive role paying a rate commensurate with the job.

Hours: Variable, dependent upon needs. Approximately 12 days of work required in the first 12 months

Job Role

The IGC member will be required to analyse and assess the value for money of the workplace pension scheme and at all times act in the best interest of scheme members as stated in the Terms of Reference.

Key Responsibilities

  • To represent the interests of relevant policyholders and to constructively challenge the insurer in relation to the value for money being delivered;
  • To uphold high standards of integrity;
  • Make sufficient time to discharge responsibilities effectively;
  • To escalate any identified concerns to the company’s Board and if necessary to the FCA, scheme members and employers;
  • To assist in the production an annual publicly available report on the work of the IGC.

Key Requirements

IGC members must have a strong background in the workplace pension market with sufficient experience and expertise to add value to the IGC and its assessment of the value for relevant policyholders.

  • In depth knowledge of the workplace pensions market
  • Knowledge of the pensions and investment market as a whole
  • Excellent communication skills
  • Excellent data analysis skills
  • Excellent listening and questioning skills
  • Excellent written and verbal communication and presentation skills
  • A high level of attention to detail

The Candidate

  • Ability to genuinely add value to any team that you are part of
  • Hardworking and confident
  • Highly professional
  • Constructive and sensible