Remuneration: £65,000 p.a. (+ an additional fee if also appointed as SID) + reasonable expenses; Time commitment: c. 30 days p.a. including quarterly Board & Committee meetings. (Deadline: 4th February)
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Hitachi Capital (UK) plc seeks two Non-Executive Director, one of whom will chair the Remuneration Committee and another of whom will chair the Audit & Risk Committee.
The new Remuneration Committee Chair will bring a senior-level background (ExecCo or Board) in a commercial and / or retail lending business. Given the heavy focus of the business on the UK, the profile must be UK-based with extensive and recent experience operating in a UK FCA / PRA regulated environment.
The new Audit & Risk Committee Chair will hold a chartered accountancy qualification and bring in-depth, senior experience working with audit and risk management issues in a UK regulated environment, preferably financial services. Experience could have been gained either in a leadership role of a finance function or as a Partner of a professional services firm.
Hitachi Capital (UK) plc is a leading financial services company with over 35 years’ experience in providing innovative finance solutions to businesses and consumers across the UK. It is authorised and regulated by the Financial Conduct Authority (FCA) and focuses on markets where it can provide innovative solutions that require high service levels and a commitment to customer care. It works with consumers and small to medium enterprises (SMEs) as well as corporate multinationals in the UK and mainland Europe.
With over 1,700 employees based at five main locations, it is committed to investing in its people and rewarding their passion and enthusiasm. The organisation now has a growing presence in Europe with £5.9bn of net earning assets and over 1.3m customers. Despite the pandemic, in the financial year 2020/21 Hitachi Capital generated profit before tax of £104m and wrote over £3.3bn of new business, having previously posted £129m profit before tax in 2019/20.
Whether it’s powering retail with market-leading point of sale finance, helping people realise their ambitions with personal loans, supporting the growth of SMEs or keeping businesses on the road, Hitachi Capital has firmly established itself as one for the UK's leading consumer lending, asset finance and vehicle leasing providers. From 1 April 2021 it became a wholly-owned subsidiary of Mitsubishi HC Capital Inc., strengthening its relationship with one of the world's largest and most diversified financial groups. Hitachi Capital (UK) plc will be changing its legal name to Mitsubishi HC Capital UK plc and rebranding under the new trading style of Novuna. The rebrand will be fully implemented in February 2022. The rebrand to Novuna, which means ‘new together’, is a significant move for the company and marks the start of an exciting new era as the business accelerates its growth plans under its new parent company.
Hitachi Capital's vision is to be the trusted brand of financial services in the UK and across Europe, with a mission of exceptional people providing outstanding customer experiences today. Its values are Harmony, Sincerity and Pioneering Spirit, and these will remain under the new Novuna branding.
Vision: To be the trusted brand of financial services in the UK and across Europe, with exceptional people providing outstanding customer experiences today.
Mission: They work as one team – they build trust, respect each other and treat everyone fairly, from their customers to their colleagues. They do what they say they're going to do. They listen and take action. And they have the courage to try new things and have fun along the way.
Values: Their values of ‘Harmony’, ‘Sincerity’ and ‘Pioneering Spirit’ reflect their heritage and are integral to everything they do and are what make their culture, teams and business what it is today.
Hitachi Capital (UK) plc seeks two new Non-Executive Directors as part of succession planning, to be appointed by the end of June 2022. Both form part of the HCUK board; one will chair the Remuneration Committee and one will chair the Audit & Risk Committee. One role will be SMF12 - Chair of the Remuneration Committee; the other role will be SMF10 and SMF11 - Chair of the Audit & Risk Committee. One of the hires will also assume the Senior Independent Director (SMF14) position dependent on candidate skill-set and knowledge. For as long as the Company is authorised and regulated by the Financial Conduct Authority (FCA), the role will be subject to the Senior Managers Regime and appointees will be considered to perform one or more Senior Manager Functions (SMF) under the Senior Managers and Certification Regime (SMCR).
As a Non-Executive Director of the Company, appointees are required to:
The successful candidate will have a demonstrable affinity with Hitachi Capital UK's business lines and the ability to advance them. They must bring a senior-level background (ExecCo or Board level) in an equivalent-sized or larger consumer and / or commercial lending business. Examples of positions held include CEO, Divisional CEO, Executive Director, COO and Managing Director.
Given the heavy focus of the business on the UK, the profile must be UK-based, with extensive and recent experience operating in a UK FCA / PRA regulated environment.
Hitachi Capital is committed to providing an outstanding customer experience. Candidates must therefore bring experience operating in a customer-focused and, ideally, a digitally-oriented business. The candidate will have a strong understanding of best-in-class customer experience and digital innovation. Candidates should be able to demonstrate a track record of driving concrete improvements to drive stakeholder satisfaction and successful transformation programmes.
Hitachi Capital (UK) plc encourages applicants who might be new to a non-executive position, as long as they have sufficient time to meet the commitment required and have suitable executive experience. Candidates will have experience either attending or presenting to committees / Boards.
Candidates will have a personable, constructive and inclusive nature.
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Given the heavy focus of the business on the UK-market, the candidate will be UK-based.
The ideal candidate will hold a chartered accountancy qualification and bring a senior-level background working with financial and accounting and risk management issues in a UK regulated environment (preferably financial services). Experience could be either in a leadership role of a finance function or as a Partner of a professional services firm. Candidate experience will have been gained working in or providing professional services to businesses of a similar size to HCUK.
As HCUK is not a bank and is only regulated as to conduct and not capital regulations, candidates should bear this in mind when considering their relevant risk management experience.
Hitachi Capital (UK) plc encourages applicants who might be new to a non-executive position, as long as they have sufficient time to meet the commitment required and have suitable executive experience. Candidates will have experience either attending or presenting to committees / Boards.
Candidates will have a personable, constructive and inclusive nature as well as a keen attention to detail.
This role is remunerated, and reasonable, pre-agreed travel expenses will be reimbursed. The appointment is for a three year term, which can be renewed at the discretion of the Board. There will be an additional fee for the role of Senior Independent Director.
Diversity
Hitachi Capital is a UK top 50 Inclusive company for the third year running. HCUK welcomes applications from everyone regardless of age, gender, ethnicity, sexual orientation, faith or disability. All appointments will be made on merit, following a fair and transparent process. In line with the Equality Act 2010, however, the organisation may employ positive action where candidates from underrepresented groups can demonstrate their ability to perform the role equally well.
Time commitment
The Board meets on a quarterly basis. You will be expected to devote appropriate preparation time ahead of each meeting and respond to telephone calls and other communications concerning the business or objectives of the Company. The Audit & Risk Committee meets quarterly, the Nominations and Remuneration Committees meet twice yearly.
The deadline for consideration is 4th February 2022.
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