- Director’s Fee: £25,000
- Bedford, Bedfordshire (GB)
The British Friendly Society (BFS/’The Society’) is a mutual insurance company with over 110 years’ experience of providing Income Protection insurance to their members. Based in Bedford, BFS is one of the larger UK Friendly Societies with circa £90m in assets. As a mutual they exist solely for the benefit of circa 27,000 members - the majority of which happen to be self-employed, blue-collar trade professionals -and have no shareholders to whom they need to pay dividends. BFS is dually regulated by both the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA).
BFS has grown rapidly over the past two years. There has been a continuation in the growth of membership and a strengthening in the Society’s financial position; this has allowed them to develop and diversify their product range, introduce a Mutual Benefits programme and start a key project to move to a new state of the art computer system. BFS remains well placed to be one of the fastest organically growing mutual insurers or Friendly Societies in the country.
The Board at BFS currently comprises two Executive Directors and six Non-Executive Directors. With ambitious plans for the future, recent strong performance and positive results, BFS is looking to strengthen the composition of their Board with the appointment of an additional Non-Executive Director – an experienced Board level (Non-Executive Director and/or recent Executive) practitioner, ideally with Protection market (Income, Health, Life) experience.
Being a strong business leader, you will have had direct involvement in developing and implementing an effective and successful strategy at/or near to Board level within the UK Financial Services marketplace; and an understanding as to how distribution(s) work and profits are generated. You will have outstanding influencing and communication skills to enable you to challenge constructively and help shape/provide oversight to how the business responds strategically to regulatory and market developments. Experience of working with Boards/Committees including chairing boards, committees or meetings would be highly desirable; likewise understanding the principles and practice of good corporate governance. Some understanding and empathy with the values of the mutual sector will be an advantage.
Any offer made to candidates will be subject to approval by the regulatory authorities.
Please reply by clicking on the "Apply" button below, submitting a CV and short covering letter demonstrating how you meet the requirements of this role, quoting reference number RAGF6029. Alternatively, for an informal and confidential discussion please call our advising consultants – Stephanie Clarke or Rupert Gibb - on 0845 261 0600.
All third party and direct applications will be forwarded to Warren Partners.