Magenta Living. Recruitment of Board Director. November 2016 Recruitment Pack

Transcription

1 Magenta Living Recruitment of Board Director November 2016 Recruitment Pack

2 CONTENTS 1. About Magenta Living who we are and what we do o Letter from the Chief Executive, Brian Simpson o Magenta Living Fact Sheet 2. Company Structure o An outline of the new Magenta Living structure incorporating commercial subsidiaries and joint ventures o Structure Chart 3. Recruitment 2016 o Board Terms of Reference o Skills Required o Board Director Role and Specification o Key Dates 2

3 November 2016 Dear Applicant MAGENTA LIVING BOARD DIRECTOR RECRUITMENT Thank you for your interest in becoming a Board Director of Magenta Living. This is an opportunity to join us at an exciting time as the company advances with a range of new initiatives. We are looking for people with the right blend of skills and experience to help us move forward. Magenta Living is a registered provider of social homes to rent. It was established in February 2005 with the stock transfer of 13,000+ homes from Wirral Council. We have since that time delivered over 193m investment in the housing stock in Wirral bringing them up to modern day standards and built 671 new homes for social and affordable rent with 113 currently in the pipeline across Wirral and Cheshire West. We now manage over 12,400 homes and 458 leasehold properties with a turnover over 60m per annum. Whilst Magenta Living s current business plan is strong, there are a number of challenges to its revenue streams in the future including reduced public subsidy to build new affordable housing, loss of homes through the right to buy scheme, demolition of non-sustainable homes and implications arising from welfare reform. A new company group structure has been developed which will allow Magenta Living to carry out a wider range of activities some of which will be commercial ventures. These will create revenue surpluses to provide the subsidies required for Magenta Living to continue with its core business which is managing and building social rented homes for the future.

4 Following an independent review of its governance the board and its company membership, at the company AGM in September, have agreed to implement a new model of governance moving from a constituency based model with reserved places for council nominations and tenants to an all skills based board. Following a skills assessment the board have agreed the range of skills that they wish to complement the existing board; these are set out elsewhere in the recruitment pack. We are looking to recruit four places which are currently vacant. To provide you with more information regarding Magenta Living please find enclosed: Job Description / Person Specification List of skills required for the Magenta Living board Magenta Living Fact Sheet A brief outline of the subsidiaries and joint ventures within Magenta Living together with a simplified Company Structure chart Recruitment timetable Other information that you may find useful includes: Magenta Living Annual Report and Value for Money self-assessment 2015 / 16 Social Value Statement 2015/16 HCA Consumer Standards self assessment 2015/16 Magenta Living Tenants Newsletter Autumn 2016 These documents can be found on Magenta Living s website at along with more about what Magenta Living does in its aim to improve homes and services for current and potential customers. Thank you again for your interest and I look forward to hearing from you. Yours sincerely Brian Simpson Chief Executive 4

5 Magenta Living Fact Sheet Formed February 2005 Company Limited by Guarantee ( a local housing company model); a registered Charity and a Registered Provider with the Homes and Communities Agency Vision: Providing Homes and Building Communities where all can thrive. Mission Priorities: o Providing for our current and future customers o Diversifying to create a resilient business o Adding value to effectively manage our resources o Leading by example Company Values: o Adaptability doing things better and differently o Accountability it s up to me to lead b example and make a difference o Ambition having a positive attitude and a desire for success o Engagement listening to all to ensure real influence o Integrity making decisions responsibly and doing what we say we will do creating trust Housing stock at 31 March 2016: 12,436 to rent, 458 leasehold and three shared ownership. We currently operate in the Wirral and Cheshire west districts of the North West. Turnover at 31 March 2016: 62.19m pa with long term fully funded business plan and a loan facility with the Royal Bank of Scotland 488 Staff including 187 in Building Services Activity in 2015/16 o Let 1,319 homes o Built 138 new homes o 24,739 repairs completed o Contact Centre dealt with 144,627 calls o Sold 37 homes under the Right to Buy scheme o Collected 99.9% of the rent due o 99.8% of our homes met the Decent Homes Standard o Created 15.6m in social value through our activities 5

6 Accreditations & Awards: o ISO 9001, and o Investors in People Gold o Customer Services Excellence o Rospa President s Award o Telecare Services Authority standard o Housemark ASB accredited o Centre for Housing and Support code of practice accredited o EFQM Achievement marque o Appeared in the Sunday Times Best Companies Top 100 on three occasions Governance: o Review of Governance in 2015/16 has led to the formation from September 2016 to a fully skills based board of 12 board directors o An open company membership of tenants, independents and Wirral Council o An Executive Leadership Team comprising: Chief Executive Deputy Chief Executive Executive and Strategic Director Executive Director of Business Growth and Resilience Diversification: o The board has agreed that in order to respond to future challenges in terms of the Government s expectations for housing providers and the reduced level of future public funding that a set of new commercial non-charitable businesses and joint ventures be established. These are shown on the Company Structure Chart elsewhere in this information pack. In summary the new businesses are: Hilbre Homes LLP a build for sale JV with Starfish on a 60:40 basis Bamboo Lettings LLP a market renting JV with Torus group on a 50:50 basis SDB Kitchens a wholly owned commercial subsidiary o Another new venture which is currently being explored is a Community Interest Company to be known as Magenta Communities which will be able to maximise charitable and other funding to carry out wider social and community initiatives in our neighbourhoods. 6

7 An outline of the new Magenta Living structure incorporating commercial subsidiaries and joint ventures The board of Magenta Living agreed a growth and diversification strategy in This was on the basis of Government changes to the funding of social housing and a focus on the sector building homes for sale rather than rent. With no grant funding to build new social of affordable rented homes, housing associations have been encouraged to undertake a wider range of more commercial activities to generate internal subsidies as well as providing market rent and for sale solutions for a wider range of housing needs. Work has been on-going over the last two years to diversify the association s range of operations. As Magenta Living is a registered charity a new company group structure has been formed which contains the commercial subsidiaries and joint ventures as set out in the attached simplified organisational chart. Funding arrangements have recently been agreed with Magenta Living s funders the Royal Bank of Scotland and it is anticipated that the new businesses will go live in November There has been significant progress made with the development of the organisations and an established shadow board structure has been operating for 12 months with both Bamboo Lettings and Hilbre Homes. Bamboo Lettings is a non-magenta Living controlled market renting joint venture which is 50/50 owned with Torus, another registered housing provider. Hilbre Homes is a Magenta Living controlled joint venture with private developer Starfish on a 60/40 basis. Hilbre will be building homes for sale with its profits gift aided to WPH Developments Ltd which is an existing subsidiary company of Magenta Living which procures the association s development programme. Stefano De Blasio Kitchens is a new subsidiary of Magenta Living as the association acquires the assets staff and good will of the current entity. This subsidiary will enhance our existing building services providing kitchen and interior installations in the private market place gift aiding its profits to Magenta Living. WPH Building Services Ltd is currently dormant. This entity was set up at transfer to oversee the commercial trading of Magenta Living s in-house repair and maintenance service. However given the limited amount of external trading by Building Services there is no requirement for this entity to trade at the present time. 7

8 Magenta Communities is currently in development. Magenta Living is exploring the potential to create a community interest company which will seek charitable and other funding streams to carry out a wider range of non-core activities to help support our communities and neighbourhoods. The governance of the new subsidiaries and joint ventures will be delivered by small professional Boards who develop a very detailed understanding of each business. The Magenta Living main board will have oversight as the entities develop further. A Group Co-operation Framework is being put into place which will ensure that the subsidiaries have a series of shared objectives which will be to support the social ethos of Magenta Living which have developed since it was first formed in Whilst the commercial subsidiary and joint venture Board directors will ensure they meet their commercial objectives they will be very much a part of the Magenta Living group. 8

9 Magenta Living Company Structure WPH Developments Ltd Hilbre Homes LLP (Build for sale JV with Starfish 60:40) Audit and Risk Committee WPH Building Services Ltd (dormant commercial building repair company) Magenta Living (registered provider) Bamboo Lettings LLP (Market renting JV with Torus 50:50) Governance and Remuneration Committee SDB Kitchens (wholly owned kitchen company) Magenta Communities (Community Interest Company to be developed) 9

10 Board Terms of Reference The Board shall have responsibility for the following functions, in addition to matters set out in law and in the organisation s constitution: - Setting and ensuring compliance with the values, vision, mission and strategic objectives of the organisation, ensuring its long- term success; - Setting a positive culture, with strong customer focus; - Ensuring that the organisation operates effectively, efficiently and economically; - Ensuring compliance with regulatory frameworks and all relevant law - Providing oversight, direction and constructive challenge to the organisation s Chief Executive and Executives; - The appointment and, if necessary, the dismissal of the Chief Executive; - Satisfying itself as to the integrity of financial information, approving each year s budget, business plan and annual accounts prior to publication; - Establishing and overseeing a risk management framework in order to safeguard the assets and reputation of the organisation; - Establishing a schedule of those essential functions and other significant matters which are specifically reserved for the Board s decision and which cannot be delegated The Board shall have the power to: - Carry out any function ancillary to its powers - Delegate to a committee or to an officer of the company, those of its powers it deems appropriate 10

11 List of skills required for Magenta Living Board The Company AGM on 20 September 2016 agreed to change the Company s Articles to move away from a constituency based model in recruiting board directors to one based on skills. Following the governance review and retirements cycle Magenta Living currently has four board positions available. The board of Magenta Living has undertaken a skills assessment and they have agreed the range of skills that they wish to complement the existing board. We are looking for people with the following business and professional skills and experience to join our existing board: Asset Management Business and Commercial Formal Financial skills Strategic Leadership Audit and Risk Business growth The positions are paid ( 4,500pa) and training and development are part of our offer. We strongly encourage applicants from women, young people, persons with a disability, BME and LGBT groups. 11

12 Draft Board Director JD and Person Specification to be approved by Governance & Remuneration Committee on 17/11/16 MAGENTA LIVING BOARD: BOARD DIRECTOR ROLE & SPECIFICATION NOVEMBER 2016 Board Director Role Key Responsibilities: 1. To oversee and set the long term strategic direction for Magenta Living 2. To ensure that the board fulfils its duties and responsibilities for the proper governance of the organisation including compliance and monitoring risk 3. To ensure an effective business plan and budget is in place 4. To ensure that performance is monitored and managed through internal controls and delegation Duties and tasks to fulfil the key responsibilities: 1. To oversee and set the long term strategic direction for Magenta Living including monitoring risk To collectively set the mission, vision, values, strategic objectives and highlevel policies for the organisation; To contribute to establishing a framework for approving policies and plans to achieve those objectives To uphold and promote the core policies, purpose, values and objectives of the Company To ensure major risks to which the organisation is exposed are reviewed regularly and an effective risk management framework is maintained To collectively approve appropriate levels of remuneration for the chief executive and executive team; to participate in the appointment, and where necessary removal, of the Chief Executive, and in succession planning. 2. To ensure that the board fulfils its duties and responsibilities for the proper governance of the organisation including compliance To act reasonably and always in the best interests of Magenta Living, and comply with its code of conduct; to ensure your behaviour as a Board Director models the values of the organisation To contribute to and share responsibility for decisions of the Board and any committee of the Board of which you are a member; to make such decisions always in the best, long-term interests of the organisation; 12

13 To fully contribute in Board and Committee meetings by drawing on relevant skills, knowledge and experience To work in partnership with the chief executive and his executive team; to challenge colleagues (both executive and non-executive) constructively, and only in the best interests of the organisation; To satisfy yourself that the Company s affairs are conducted lawfully and in accordance with regulatory requirements and generally accepted standards of performance and probity; To engage effectively with key stakeholders as required, particularly residents; To comply fully with Magenta Living Governing Instrument including policies, procedures and standing orders 3. To ensure an effective business plan and budget is in place To satisfy yourself as to the integrity of financial information, and ensure that financial dealings are systematically accounted for and audited, and that all loan covenants are complied with; To approve each year s accounts prior to publication and approve each year s budget and business plan; 4 To ensure that performance is monitored and managed through internal controls and delegation To ensure there are appropriate mechanisms, both internal and external, to verify that the board receives a balanced and accurate picture of how the organisation is performing To ensure that internal controls and systems are audited and reviewed regularly; To monitor performance at a strategic level in relation to plans, budgets, controls and decisions and also in the light of customer feedback and the performance of comparable organisations; To participate in regular reviews of Board performance, and in Board Director appraisal; to participate in Board development and training, and in other learning activities as required. Role Limitations The Board Director needs to be aware that: No individual Board Director, including the Chair, has authority unless specifically acting on behalf of the board with the delegated authority of the board. Collectively Board Directors have authority, individually they do not. 13

14 It is the Chief Executive s job to run the organisation. It is for the board to provide the Chief Executive with direction on strategic priorities then support him/her to perform well and deliver against the priorities set. This boundary between the governance and management roles must be respected and clarified whenever necessary. Role Specification A prospective board director will need to work within the Nolan Principles which set out the ways in which holders of public office should behave in discharging their duties. They provide a good description of the way in which Board Directors might be expected to conduct themselves when making decisions about the use of public resources, and give a clear steer regarding the need to declare and be honest about any potential conflicts. The seven principles are: Selflessness act solely in terms of the values and mission of Magenta Living. They should not do so in order to gain financial or other benefits for yourself, your family or your friends. Integrity should not place yourself under any financial or other obligation to outside individuals or organisations that might seek to influence you in the performance of your duties. Objectivity make certain in your decision making that you ensure impartiality and make choices on merit alone. Accountability accept accountability for your decisions and actions to Magenta Living, its residents, the providers of public funds and other stakeholders and submit themselves to appropriate scrutiny Confidentiality and Openness to be as open as possible about all the decisions and actions you take. You need to ensure that you balance the need for openness with that of protecting the confidentiality of the organisation where required. Honesty declare any private interests and take steps to resolve any conflicts arising in a way that is lawful and protects the reputation of Magenta Living. Leadership should promote and support these principles by leadership and example. All Board Directors are required to have the following knowledge, skills and attributes: Skills and Attributes; a) Strategic awareness - aware of current environmental factors, the big picture context and awareness of issues that could impact in the future. Aware of the internal resources of the organisation and how these can be best used to achieve fit and Magenta Living s priorities. b) Change readiness is alert and responsive to the need for change with creative responses to the challenges of today and the future. 14

15 c) Results focused focused on achieving results and able to reconcile tensions between social purpose, commercial interests and business needs d) Business acumen is able to identify opportunities for the potential benefit of the organisation; commercial awareness. Actively seeks new knowledge and information from multiple sources to keep up to date and increase knowledge of sector and wider environment. e) Analysis and decision making Clear on what are appropriate decisions to be made by the board Detail insists on appropriate levels of detail to provide assurance. Is conscientious and well prepared for board duties. High standard of literacy and numeracy assimilates written and numerical information accurately. Is able to critically appraise information and make sound interpretations. Can explore counter arguments and probe more deeply when required. Judgement considers weighting of evidence, reasonable assumptions, alternative views, the ethical dimension and other information before reaching a final decision. Decisive is able to exercise reasonable judgement, make decisions and take action. f) Communication skills Written can convey complex ideas and opinions with clarity and accuracy. Listening listens intently and with care to ensure clarity of understanding, asks questions to ensure full comprehension. Presentation can engage an audience and convey messages clearly and concisely and in a way that connects with the audience. Open is honest and open when communicating with others. Self-aware and able to acknowledge errors or shortcomings in own performance. Willing to invite and accept constructive feedback. Influencing is able to gain support and influence; political acumen 15

16 g) Commitment Availability - is able to commit on average one to two days across each month to the organisation to cover: attendance at and preparation for meetings; attendance at conferences and training events; Company Member Meetings / General Meetings. 16

17 Appendix to Board Director Role and Specification In addition Board Directors need to bring experience and skills in one or more of the following: Relevant Experience and Skills - Essential 1. Board Director or Governance experience 2. Operational experience at a senior level 3. Strategic leadership 4. Financial Management - Accountancy - Treasury management - Business planning - Audit 5. Asset Management - Property development and sales - Property management - Construction - Housing management - Regeneration 6. Risk management 7. Change management 8. Performance management 9. Business growth and development 10. Customer services 11. Commercial business skills Knowledge - Desirable 1. Registered Providers 2. Regulatory Framework 3. Political and economic environment - welfare reform - devolution - housing strategy - planning 4. Probity 5. Local knowledge 6. Mergers and acquisitions 7. Health and social care 8. Social investment Relevant Experience and Skills - Desirable 12. Legal - company - constitutional - business - contracts - charity 13. Stakeholder engagement 14. Community involvement 15. Marketing 16. Public relations 17. ICT Abilities - Essential 1. Team working 2. Integrity 3. Independent judgement 4. Creative and clear thinking 5. Analytical skills 6. Communication skills 7. Networking 8. Equality and diversity 17

18 Board Director Recruitment Key dates Monday 7 November - Advert out in selected channels Monday 21 November - Closing date for applications w/c 21 November - Shortlist applications Wednesday 7 December - Interview date Tuesday 13 December - Board approval of appointments 18