Introduction
This authorised and MAF-accredited defined contribution (DC) master-trust, backed by a multi-award winning fast-growth fintech company, is undertaking a recruitment exercise. We have one of our Trustee Director’s coming to the end of their term. The appointment will commence from 1 April 2025
We welcome and encourage diversity here at Smart and applications are invited from all individuals, provided they meet the requirements of the roles as set out below
Background
Smart Pension Limited 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 over a million employees using it.
The Trust is overseen by a corporate Trustee company whose board of directors is currently made up of a majority of non-affiliated independent trustees.
A vacancy on the board for a new Trustee Director has arisen due to the end of the term of one of the professional Trustee Directors.
We are looking for someone who has strong knowledge and experience of Defined Contribution investments, Environmental, Social & Governance (ESG), climate & nature and Diversity, Equality and Inclusion (DEI).
Role requirements
Meeting attendance: the successful candidate will be required to attend quarterly Trustee board as well as quarterly Investment Sub-Committee meetings. Each meeting generally lasts up to four hours (this is subject to requirement and can be longer if necessary). All meetings require preparation and follow-up work.
Other ad hoc meetings occur on a fairly regular basis. These include meetings with the Pensions Regulator, training sessions, meetings with the Funder/Strategist, to discuss the business plan etc., as the needs of the Scheme dictate. These are typically 2 hours long.
The successful candidate will also be expected to provide support on new business tender exercises including pitches where applicable.
Interim work: where possible, all required work and decisions will follow the cycle of Trustee and Sub-Committee meetings. However, there will be times where ‘out of cycle’ and ad-hoc projects arise and discussions and decisions are required. The successful candidate will be expected to be available to attend to these if necessary.
You may also be requested to meet service providers (including site visits), attend meetings with prospective clients, members and speaker events, acting as a representative of the Scheme.
Experience: You need to have a strong general background in UK pension provision. A high level of technical understanding of all aspects of DC pensions legislation and regulatory requirements is preferable, as well as significant knowledge of developing current industry issues.
Particular expertise or experience in DC investments, ESG, climate & nature, DEI and master trusts would be highly advantageous.
You will have demonstrable experience of acting as a trustee, or have the ability and experience to take on this role.
You should have the ability and drive to integrate quickly with the Trustee 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 should be aware of the elements of the ‘fit and proper’ tests required under the master-trust authorisation and supervisory regime. An accredited external provider will undertake a review prior to you taking on the role, and on a regular basis whilst you act as a Trustee Director
Remuneration
The remuneration for the role will be a market competitive rate that reflects the skills and expertise of the successful applicant.
The role will be for a fixed term of 3 years.
Deadline for applications
The deadline for applications is 20 December 2024.
Candidates should share a CV and covering letter.
If you are applying on behalf of a professional trustee services firm, please contact us by 29 November 2024 to express your interest and to request a Request For Information form.
Applications from interested parties will only be considered if received by this date.
We are seeking to make this appointment in April 2024.
