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DWP vacancies

23 November 2022

DWP seeking Board Members for Nest Corporation

             

Nest Corporation (Nest) – Board Members

DWP is seeking three Board Members for the Nest Corporation (2 x Generalist and 1 x Investment Specialist). 

The National Employment Savings Trust (Nest) is a workplace pension scheme designed around the needs of employers and workers to support automatic enrolment. Nest offers a high quality, easy to use way to save for retirement and is now the largest defined contribution pension scheme in terms of members. Nest currently has 11.4 million individuals saving with £27.4 billion in assets under management. 

Nest Corporation is the Trustee of the scheme and a Public Corporation based in London. Though Nest Corporation is independent from government, it is accountable to Parliament through the Department for Work and Pensions (DWP).

 

The Role of Nest Board Members

Board Members will be expected to:

  • Contribute to Nest’s Board meetings and discussions, drawing on their field of expertise
  • Contribute to and review the strategic direction of the Corporation and the scheme
  • Oversee the performance of the Chief Executive and her team in delivering Nest’s functions efficiently and effectively
  • Monitor the extent to which the Board is meeting its objectives and targets
  • Ensure effective reporting of the Board’s reporting of its activities to the Secretary of State in the annual report
  • Evaluate the effectiveness of the Nest’s internal financial controls
  • Act as a confidante and counsel to the Nest Chair, balancing a challenging approach with being supportive
  • Contribute through ad hoc involvement with the executive team on specific areas of interest/priority on behalf of the Board
  • Where appropriate, represent Nest with external stakeholders, and help it build relationships with key private and public sector players, and
  • Contribute their own professional experience to guide the development of Nest in a way that is supportive, collegiate and adds value.

 

Board Members may also be asked to Chair or participate in one of the subcommittees of the Board, including:

Audit Committee

Risk Committee

Investment Committee

Nominations and Remuneration Committee

 

Information about these sub-committees can be found at

www.nestpensions.org.uk/schemeweb/nest/nestcorporation/who-runs-nest/trustee-members/trustee-committees.html

 

Information Webinar

DWP want to reach a broad pool of candidates, and they know that some candidates may not be familiar with the process of applying to become a non-executive director or may not be familiar with the process with respect to an arm’s length body. 

They are hosting a webinar on 29 November 2022 at 2pm and welcome all candidates to register and join to learn more about Nest, their Board, and what it means to be a Board member. There will be an opportunity to ask questions anonymously as well.  The webinar will be available for replay on our website shortly after.

Please register for the webinar

They want to be sure that all candidates are able to access the webinar. Therefore, if you have any requirements for support with this, please contact nestwebinars@glasgows.co.uk.

  

Location: London

Remuneration: £19,050 per year

Time Requirements: Approximately 30 days per year and consists of approximately 10 board meetings/strategy days

The vacancy closes at 17:00pm on 16/12/22

For more information about the role and how to apply please click the link below 

https://publicappointments.cabinetoffice.gov.uk/appointment/nest-corporation-nest-board-members/