Time commitment: c. 30 days per year

Remuneration: £36,000 p.a.

Deadline: Thursday 8th February 2024

Triodos Bank operates at the forefront of ethical and sustainable finance, transcending the typical banking role to effect positive change. It's more than a bank; it's a community united by the belief that the conscious use of money can drive societal and environmental progress.

Triodos Bank UK is the wholly-owned subsidiary of Triodos Bank NV, encompassing its operations in the UK market with over 300 employees and over £1.2bn in assets. Its mission is to help create a society which protects and promotes human dignity and quality of life for all. Its aim is to make money a force for good, emphasising that financial activities should contribute to a sustainable and socially responsible future.

Triodos is committed only to supporting initiatives and projects which align with its values and create positive impact, focusing on sectors and businesses driving environmental, cultural, and social progress. Triodos Bank UK reflects this commitment, providing a range of sustainable financial solutions for those eager to contribute meaningfully. It provides transparent current accounts to investment options and business lending which supports organisations working to tackle the biggest challenges of our time. By fostering these opportunities, Triodos Bank continues to lead in ethical finance, empowering its customers to manage their finances responsibly while contributing to a more sustainable and socially conscious world.

The Board of Triodos Bank UK (TBUK) is seeking to appoint a new Non-Executive Director who will chair the Audit Committee who will also sit on the Risk Committee.

The Board of TBUK provides leadership and direction in achieving the company’s objectives and activities. It is responsible for setting strategy, formulating policies, and providing guidance on the management of the business. It regularly reviews financial performance and ensures that there are effective risk management controls and procedures in place.

The role of an iNED performing the general iNED role is to provide effective oversight and challenge; and help develop proposals on strategy. The primary responsibilities associated with this are:

• Devoting time to developing and refreshing their knowledge and skills, including those of communication, to ensure that they continue to make a positive contribution to the Board
• Making sufficient time available to discharge their responsibilities effectively
• Upholding high standards of integrity and probity and supporting the Chair and Executive Directors in instilling the appropriate culture, values, and behaviours in the boardroom and beyond
• Insisting on receiving timely high‐quality sufficient information (accurate, clear, comprehensive, up-to-date) so that there can be thorough consideration of the issues prior to an informed debate and challenge, and decisions at Board meetings
• Considering the views of shareholders and other stakeholders because these views may provide different perspectives on TBUK and its performance
• Attending and contributing to Board and Committee meetings and discussions
• Taking part in collective Board and Committee decisions, including voting, and providing input and challenge
• Scrutinising the performance of management in meeting agreed goals and objectives
• Monitoring the reporting of performance and satisfying themselves on the integrity of financial information
• Satisfying themselves that financial controls and systems of risk management are robust and defensible
• Scrutinising the design and implementation of the remuneration policy
• Providing objective views on resources, appointments, and standards of conduct
• Being involved in succession planning

Beyond the responsibilities of the Board, the Audit Chair is responsible for chairing and overseeing the performance of the TBUK Audit Committee. The UK Director of Internal Audit has a reporting line into the Chair of Audit Committee. This individual will also sit on the Risk Committee. The primary responsibilities associated with this include:

• Fostering an open, inclusive discussion which challenges executives, where appropriate
• Ensuring that the Committee meets with sufficient frequency
• Ensuring that the Committee devotes sufficient time and attention to the matters within its remit
• Helping to ensure that the Committee and its members have the information necessary for their tasks
• Reporting to the main Board on the Committee’s activities
• Facilitating the running of the Committee to assist it in providing independent oversight of executive decisions
• Complying with all regulatory obligations and internal governance to help ensure ethical behaviour which delivers fair outcomes for TBUK customers

As this position is designated as SMF11, prior experience of working on or with audit committees within UK-regulated financial services is required. Beyond the core competencies of this role, a key decision-making factor for the Board, in this process, is identifying candidates who can evidence an interest and passion to support Triodos’ mission.

UK-regulated financial services experience

It is important that candidates bring recent, direct experience of working within UK-regulated financial services, ideally within a PRA-regulated firm or a retail banking business.

Audit experience

This experience could have been gained a senior-level executive (CFO, COO or equivalent), non-executive (Audit Committee Member or Chair) or consultant (Audit Partner at a major accounting firm or equivalent) to the sector. Candidates will be a chartered accountant. The Board is open to candidates for whom this would be their first Non-Executive Director position where they are able to demonstrate their depth of audit committee experience as an executive.

Gary Page, Chair, Independent Non-Executive Director
Richard Burrett, Independent Non-Executive Director
Karen Furlong, Independent Non-Executive Director
Keith Bevan, Independent Non-Executive Director
Alessandra Mongiardino, Independent Non-Executive Director
Bevis Watts, Chief Executive Officer, Executive Director
Sian Williams, Chief Risk Officer, Executive Director
Wibout de Klijne, Group Non-Executive Director

This role is remunerated at £36,000 p.a. Reasonable, pre-agreed travel expenses will be reimbursed. The time commitment is set to around 30 days. This includes:

• 8 Board meetings per year
• 5 Audit Committee meetings (virtual + 1 face to face) - half day
• 6 Risk Committee meetings (virtual + 1 face to face) - half day
• 2 x 2-day Strategy days (in person) (linked to the Board dates)
• 2 x 2-day Development days (in person) (linked to the Board dates)

The appointment is for a three-year term, which can be renewed at the discretion of the Board.

This organisation is based in Bristol and meetings will take place in person or virtually. Candidates will therefore be UK-based.

UK - South West

Triodos Bank UK recognises that it is on a journey with regards to diversity and inclusion and would therefore welcome applications for candidates from underrepresented and neurodiverse backgrounds. It knows that receiving applications from candidates with diverse backgrounds is key in supporting its inclusive organisation to grow and it doesn’t want to miss out on candidates who feel they don’t exactly match the job description requirements. So if this is a role that sounds interesting to you, and you feel you could add value to the role please do apply. You could be exactly what TBUK needs!