Local Government Pension Scheme (LGPS) – Independent Committee Member

Summary

Our client is one of the largest Local Government Pension Scheme (LGPS) with in excess of £2.5bn of assets. The incumbent Independent Committee Member was stepping down having reached the end of their term in office. As such Moorlands Human Capital was briefed to find a suitable replacement that had strategic board level experience in commerce, finance or investments from within the private sector.

Client Need

The local council was keen to ensure that candidates for this position came from the private sector and could bring with them an understanding of best practice in relation to risk management. That was to cover but was not to be limited to investment risk, financial risk, operational risk and people risk.  At the heart of what our client wanted, was to achieve good governance that ensured members got the best possible outcome from the retirement savings. The two key focusses of the role were to:

  1. Reinforce the fiduciary role of the Committee and its activities for all stakeholders and employing bodies; and
  2. Provide continuity of membership, and thus knowledge, over the Council’s electoral cycle.

Our Approach

Given that candidates could come from a wide range of sectors and because the client was keen to target those individuals with a background in finance and risk, we decided to utilise a combination of targeted headhunting and advertised selection. This belt and braces approach ensured that candidates from the widest possible backgrounds would be drawn into the search process.

Having gained a thorough understanding of the role Moorlands Human Capital prepared a candidate briefing pack  which detailed the role and person specification, the key deliverables, times scales, time requirement and remuneration package. This document then acted as a blue print for the project and we set about identifying suitably qualified individuals who possessed strategic board level experience in commerce, finance and investments.

Once suitably qualified candidates were identified, the final shortlisted candidates underwent Executive Assessment by one of our Occupational Psychologists. The Psychologist then produced a report on each candidate detailing their strengths and weaknesses for the role based on their core competencies and highlighted how they might perform under extreme pressure.

Results

Moorlands Human Capital was able to provide a highly skilled shortlist of five candidates who had all undergone the above  assessment. The client was in a position whereby had they appointed any of the five individuals they would have got a very strong candidate for the role. After the final panel interview one individual stood out and was offered the role and attended the next board meeting four weeks later which ensured a smooth handover from the incumbent.