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Applications sought for UUK-nominated director on the USS Board

The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, and is one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, the scheme’s corporate trustee, Universities Superannuation Scheme Limited (USSL) manages and administers the pension for over 350 participating employers within the UK’s higher education sector and delivers the management and investment of the USS fund through USSL and its wholly owned subsidiary company USS Investment Management Limited.

A vacancy for a Universities UK (UUK)-nominated director on the Board of USSL will shortly become available. 

The appointment is for an initial term of three years, and UUK’s present policy allows it to re-appoint directors for one or more further terms (where appropriate) within an overall maximum. Given the considerable level of commitment and responsibility, USSL’s directors are remunerated for their duties.

The job description includes details of a director’s responsibilities, duties and powers, required skills and experience and an indication of the time commitment required. UUK is seeking an individual with knowledge, skills and experience at a senior level in a substantial organisation or as a strategic advisor to such an organisation in one or more of the following areas (in order of priority): remuneration strategy and management; finance; pensions strategy, policy and member engagement; governance; business management and technical and process skills. Candidates should have experience and expertise that is proportionate to the oversight and governance of USSL and its subsidiaries reflecting that it has significant responsibilities for the management and execution of complex operational and advisory functions at scale, and would in its own right be a sizable pensions administration or investment management business. Candidates should also have knowledge of the university sector; its culture, values, priorities and challenges.

Interested candidates should send a letter of application, which should include a CV and a short statement (no more than 500 words) indicating the reasons they consider themselves suitable for the role. CVs and accompanying statements should be sent to pensions@universitiesuk.ac.uk and should be received by midday on 2 July.

Interviews of shortlisted candidates are scheduled for Tuesday 24 July. As part of the appointment procedure and before a final appointment can be made relevant candidates are required to meet both the Chair of the USSL Board and the USS Group CEO.

The appointed director will take up his/her role from 1 September 2018.

If you have any queries regarding this role or the application process please do contact Mary Lambe, UUK Head of Pensions (mary.lambe@universitiesuk.ac.uk)