appointment of board member & chair of audit & risk … · • board-level experience in...

OPTIVO Appointment of Chair of Audit & Risk Committee

APPOINTMENT OF BOARD MEMBER & CHAIR OF AUDIT & RISK COMMITTEE APPOINTMENT BRIEF MARCH 2020


CONTENTS 1. Introduction from the Chair 2. Optivo 3. The Board 4. The role 5. Person specification 6. Terms of appointment 7. How to apply 8. Optivo Coronavirus Update for Candidates “At Optivo we know

the importance of living in a safe and secure environment and how this enables people to flourish.”


INTRODUCTION

Thank you for your interest in Optivo and in joining our board.

Having had the privilege of Chairing Optivo since 2017, I am delighted to introduce you to this impactful and forward-looking organisation, dedicated to providing homes, creating thriving communities and enhancing lives.

Currently providing 44,000 homes for 90,000 people across London, the Midlands and South East England, Optivo has worked hard to realise the opportunities that came with the merger of AmicusHorizon and Viridian back in 2017. We are proud to have created an efficient,

well-resourced and modern housing association, with a strong and lived set of values which really guide us in all we do. Our residents are at the heart of everything - it’s what distinguishes us and makes us unique. At every level of the business our residents work alongside us as one team, to co-design, scrutinise and improve our work so we can deliver brilliant service and value for money.

Today, we are an organisation of 1,515 people and whilst our principal activity remains providing homes for people who need them – and our core tenure is social rented housing - we’re about more than bricks and mortar. Our founders were passionate about helping families with a housing need. As Optivo, we’re continuing that strong commitment to social purpose.

As well as being a large-scale social landlord, we’re an award-winning developer, committed to building 1,300 new homes per year up to 2024/25 and 1,500 each year beyond that.

We also believe in helping our residents reach their full potential and we offer financial and employment support as well as computer and internet training. We also run events and courses to promote good health and wellbeing.

As a major landlord and developer with the financial clout of a FTSE 250 business, the work of our board can be challenging and complex. It is also really meaningful and energising, given the diversity and scale of the work we do and the real impact it has on people’s lives.

We have a turnover of more than £340m and plans in place to invest £3.5bn in new homes over the next ten years. Our board members enjoy using their commercial experience and acumen to ensure we have the resources and risk management structures in place to deliver against our stretching objectives. We encourage and support each other to use our good judgement, commitment to social purpose and passion for building thriving communities in all of our decision making.

Looking ahead, there is much to do and this is an exciting time for Optivo. Externally, there is always change and uncertainty to navigate, and in April we’ll be launching our 2020-25 strategic plan. This will outline a range of goals, including the development of new homes. Our ambition to transform our services through co-creation with residents will be a key priority.

In the more immediate future, we are all feeling the loss of our excellent Chair of Audit & Risk, David Clifford, who very sadly passed away a few weeks ago. He was a valued and hugely liked member of our community. His passing leaves an important gap in our board and this is the first of two board roles we are seeking to fill in the early part of 2020.

I hope you will enjoy reading more about us in this briefing document.

Sir Peter Dixon, Chair


OPTIVO Optivo knows the importance of living in a safe and secure environment and how this enables people to flourish.

Optivo was formed in May 2017 and brought together the best of AmicusHorizon and Viridian Housing. With an annual turnover of £340 million, Optivo are a strong housing association working with residents, local authorities, and partners to meet housing need, and to create safe, sustainable communities for its residents.

Optivo are proud to work in communities in a range of ways beyond the provision of housing. Optivo deploys its capacity and resources to help residents make the most of their lives through jobs, training, financial support and digital inclusion.

Meeting housing need

Optivo works with residents, local authorities and partners to meet housing need and to create safe, sustainable communities for its residents. Optivo’s principal activity is to provide homes for people who need them, with its core tenure being social rented housing.

Enhancing lives

Enhancing Lives is key to Optivo’s mission. Optivo operates in some of the UK’s poorest neighbourhoods and adapts its activities and projects to meet residents’ needs and priorities using local community insight. Optivo focuses on inspiring its residents to reach their full potential. Its activities boost confidence, skills, job prospects, health and wellbeing and bring communities together, often helping to resolve anti-social behaviour issues. Optivo aims to make a real and lasting difference, and work to support its residents and communities.

“We develop places with people, not profit, in mind, building homes and communities where people can thrive.”


Building new homes and creating great places to live Following the merger in 2017, and the strategy Optivo has pursued since then, there is capacity to grow the development programme to more than 1,500 homes each year. Optivo plans to invest £3.5bn in new homes over the next ten years and secure significant new finance to support these growth ambitions. Optivo are developing new homes in London, the South East and the Midlands for:

• Rent – including Affordable and Social Rent products • Shared Ownership • Open Market Sale

Optivo are seeking a pipeline of medium term and longer term land on sites that will deliver between 50-300 homes each. As well as larger sites Optivo will deliver independently, Optivo will also consider unconditional land deals, as well as those linked to planning, Joint Ventures, Option Agreements and regeneration opportunities.

Optivo generally seeks opportunities where it already has homes, to help it provide efficient management services. However, Optivo will also consider working in other areas if the site is sufficiently close to existing stock is a size that makes entry into that geographic market justifiable.

“We’re investing £3.5bn in new homes over the next ten years”


The maps below show the areas Optivo would like to grow its development programme:

Full financial statements can be found at: https://www.optivo.org.uk/Leaflets-Publications.aspx

https://www.optivo.org.uk/Leaflets-Publications.aspx


Values and culture

Optivo puts people first and has a culture its proud of, underpinned by its CORE values.

Optivo’s values guide its people and inform their behaviours and decisions. The values are:

Customer Focused One Team Respect Enthusiastic. These underpin the successful delivery of Optivo’s objectives. They also:

• Inspire exceptional service to residents • Help Optivo work together successfully as ‘one team’ • Ensure that people are driven, committed and enthusiastic to deliver success • Are easy for staff to engage with and support the ethos of valuing Optivo’s people • Are relevant to the business objectives as a modern social housing provider.

78% of the team say they’re proud to work for Optivo 80% think Optivo is a great employer 91% understood the positive contribution they had made towards Optivo’s strategic goals (Optivo Pulse Survey 2019)


THE BOARD Optivo Board has 12 members, three of which are resident members. Optivo’s Board is collectively responsible for ensuring the success of the organisation and its compliance with legal and regulatory obligations by setting and monitoring the strategic direction. The Board is central to driving Optivo’s social purpose.

Optivo prides itself on being different from a lot of other organisations. Residents are at the heart of what it does and resident involvement is central to its culture. At each level of the governance structure, from residents sitting on the Board, to local repairs panels, Optivo works side by side to improve services.

Optivo have a strong outcome-driven diversity strategy and want this to be reflected in how they recruit, engage and progress their colleagues. Optivo have set aspirational targets for its Board and Committees to include individuals from protected groups.

You can read more about current board members and their profiles here: https://www.optivo.org.uk/about-us/who-we-are/our-people.aspx.

https://www.optivo.org.uk/about-us/who-we-are/our-people.aspx

https://www.optivo.org.uk/about-us/who-we-are/our-people.aspx


THE ROLE

Board Member & Chair of Audit & Risk Committee

Optivo are looking for an outstanding and committed individual, with a strong background in senior finance roles in large and complex organisations, to provide leadership to the Audit & Risk Committee. This Committee Chair will play a central role along with the CEO, CFO and other Board and executive colleagues in shaping how Optivo resources and delivers its new strategy. With a regulatory In Depth Assessment (IDA) every two years and the next one anticipated for 2020, he or she will also be a key interface with representatives from the Regulator of Social Housing.

The Chair will ensure meetings are effectively governed and will collaborate and co-operate with the Optivo Board Chair and other Subsidiary Board / Committee Chairs to provide effective leadership to the Optivo Board.

The responsibilities of all Board members include: • Actively contributing to the leadership, direction and effective control of Optivo • Working constructively with the Chair, fellow Board members and the rest of the Executive Team to

achieve Optivo’s strategic objectives • Promoting and upholding Optivo’s values • Representing Optivo to a range of external stakeholders as appropriate.

The Chair of Audit & Risk also:

• Ensures that all members of the Committee are given the opportunity to express their views before any decision is taken

• Establishes a constructive working relationship with the Executive Team and other relevant staff • Ensures the Committee delegates sufficient authority to the Chair, the Chief Executive and others • Enables the business of the Committee to be carried out effectively between meetings • Ensures the Commitee monitors the use of delegated powers • Ensures that the Committee receives professional advice when it is needed • Takes decisions delegated to the Chair with the advice, where appropriate, of the Chief Executive or

other Committee members or relevant members of staff • Ensures that decisions reached are properly minuted, and that minutes are authorised and distributed

to Optivo Board and Committee members • Within the agreed performance framework, appraises the performance of individual members of the

Committee in accordance with Optivo Board’s policy • Ensures training needs are identified and addressed and provides feedback to the Optivo Board Chair

on the effectiveness of the Committee and performance of its members • Maintains strong relations with the Head of Internal Audit and External Audit.


PERSON SPECIFICATION For this key role, Optivo will be looking for:

• Board-level experience in strategic finance roles including a strong understanding of accounting practice, financial reporting standards, audit and risk

• Proven understanding of risk and compliance arrangements

• Broad commercial leadership credentials gained ideally in large-scale customer-facing organisations

• Some previous experience as a non-executive would be highly advantageous given the responsibilities of the Committee Chair around governance.

For all Board appointments Optivo look for:

Technical Skills

• Governance, organisational leadership and management experience in an organisation of a similar scale • A proven ability of operating effectively at high levels within a substantial and complex organisation and of

success in influencing decision making • A track record of motivating senior teams to deliver a strategic vision • A background of general management, which will include an overview of complex budgets and high standards of

probity • Chairing Boards/Committees, working effectively with a wide range of stakeholders, including working with local

communities.


Competencies and Knowledge

• Leadership – ability and vision to lead and represent the association, giving a clear sense of strategic direction, a clear appreciation of the respective roles of the Chair and Chief Executive and the need to create and sustain strong partnerships

• Communications – ability to present arguments with knowledge and understanding of the wider strategic context, ability to represent and promote the association and to communicate effectively to ensure aims and objectives are achieved. Good listening skills and the ability to encourage all participants to make a contribution and reach consensus

• Politics and government – ability to inspire the delivery of results and outcomes in complex political environments and an ability to get things done in an efficient and accountable manner

• Working for stakeholders – an ability to operate effectively at all levels, including working with diverse local communities, developing positive relationships that generate confidence and respect

• Knowledge of the sector – a good understanding of the history of the housing regulation and public sector housing

• Equality and diversity – a strong awareness of equality and diversity issues and the need for all Board members, staff and other stakeholders to be treated fairly and equally.

Attributes

• Understands the views of customers and ensures these are reflected in the work of the organisation • Shows energy and enthusiasm and is confident in public engagements • Shares Optivo’s vision and commitment to social justice, fighting discrimination and offering excellent services • A strong leader with credibility and enthusiasm, a decisive and effective decision maker who leads by example

with an open, engaging and enthusing style • A personal and professional credibility that will command confidence at all levels • Works well in a team, with a collaborative style that engages people at all levels and promotes positive

relationships in the organisation and with its partners • Practices accountability, openness, transparency and equality of opportunity including awareness of the impact of

diversity and disability issues.

Improving diversity on the Board

Improving diversity in the boardroom is a key priority for Optivo. Optivo want its non-executive levels to reflect the diversity of its communities.


TERMS OF APPOINTMENT

• All Group Board members are appointed for an initial term of a 1 year probation period plus a 2 year term, followed by a 1 x 3 year term. The remaining 3 years will be 3 x 1 year terms

• There are six Group Board meetings a year, and two strategy away days. The Audit & Risk Committee meets four times a year.

• The total expected time commitment for the Chair of Audit & Risk is around two days a month and at certain times in the year – and in the run up to the In Depth Assessment by the regulator in 2020 – it is likely to be slightly more.

• Most meetings take place at Optivo’s office in Croydon – less than 20 minutes by train from London Victoria or London Bridge, with direct trains also from places such as Brighton/Haywards Heath and Epsom.

• The annual remuneration for the Chair of Audit & Risk is currently £11,501 and will rise to £16,000 from 1 July 2020.

Meeting dates

Board meetings – these start at 1:30pm unless stated otherwise • 13 May 2020 • 15 July 2020 • 16 September plus AGM 2020 • 9 December 2020 • 24 Feb 2021 • 24 March 2021

Strategy days • 11 November 2020 – Strategy Meeting (12 – 5pm) • 13 January 2021 – Joint Strategy Day with Resident Group

Audit & Risk Committee meetings • 1 July 2020 • 7 October 2020 • 19 January 2021 • 9 March 2021

HOW TO APPLY Saxton Bampfylde Ltd is acting as an employment agency advisor to Optivo on this appointment. Candidates should apply for this role through our website at www.saxbam.com/appointments using code JAJASA. Click on the ‘apply’ button and follow the instructions to upload a CV and cover letter. The closing date for applications is noon on Wednesday 22 April 2020. GDPR personal data notice According to GDPR guidelines, we are only able to process your Sensitive Personal Data (racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, genetic data, biometric data, health, sex life, or sexual orientation) with your express consent. You will be asked to complete a consent form when you apply and please do not include any Sensitive Personal Data within your CV (although this can be included in your covering letter if you wish to do so), remembering also not to include contact details for referees without their prior agreement.


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appointment of board member & chair of audit & risk … · • board-level experience in...

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