Citysave is a not-for-profit organisation owned by its members. It prides itself on being a responsible lender which enables its members to save, borrow and plan for tomorrow. Citysave has been operating for over 30 years as a credit union established under the Industrial & Provident Societies Act, and its area of operation covers individuals who reside or are employed in Birmingham or Warwickshire. Its overall membership base is around 7,500, making Citysave one of the largest credit unions in the West Midlands.

Citysave is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It is particularly active in the provision of payroll-deducted loans to public and private sector businesses, including Birmingham City Council, University Hospitals Birmingham NHS Foundation Trust and Warwickshire County Council. In its last audited accounts, for the year ending 30th September 2020, Citysave declared a surplus of £38,000 after allowing for tax and the payment of a dividend to members of circa £17,000. Net Assets / Members’ Equity stood at over £900,000 as at 30th September 2020.

The Board remains ultimately responsible for ensuring that the Credit Union is well-managed and operates within the law and all applicable financial conduct regulations. The Chair is responsible for the leadership of the Board of Directors and for working effectively with the Chief Executive Officer to deliver the agreed strategy for the organisation. It is vital that they promote a culture of respectful, collegiate working whilst encouraging robust, open challenge and debate.

More specifically, the role of the Chair will involve ensuring that the performance and effectiveness of the Board is evaluated formally on an annual basis and that Citysave responds fully and openly to any communication from its regulatory bodies, and in particular, the Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) and Information Commissioner’s Office (ICO).

Citysave seeks a proactive, independent Chair with senior commercial experience. The Chair must live or work within Birmingham or Warwickshire.

The ideal candidate must satisfy one or more of the following criteria below:

• Strong business and commercial experience together with sound financial acumen, ideally drawn from working within the financial services sector
• Experience of operating in a heavily-regulated environment, preferably within the credit union or wider financial services sectors
• Experience as Chair or as a prominent member of a successful board / governing body in an organisation of a comparable size and complexity to Citysave
• Experience of leading business transformation, including the development of new products, partnerships, and mergers / acquisitions
• Experience with the provision of savings and loans in credit unions, retail banks, or building societies

Additionally, it would be useful if applicants have previously worked at a strategic level with not-for-profit or social impact enterprises and have an understanding of how to use technology to improve customer experience and management information.

This role is unremunerated, but reasonable, pre-agreed travel expenses will be reimbursed. The role requires a time commitment of c. 25 days per year and includes the twelve Board meetings (each held monthly in the evenings), regular contact with the Chief Executive Officer and an annual strategy day. Board meetings are held in Birmingham, and virtual attendance is an option for some of these meetings. The appointment is for a three-year term, which can be renewed at the discretion of the Board and the membership.