Social Investment Business is looking for a new Chair who could have a background at a senior level in the non-profit, public or financial services sector, but must bring prior non-executive experience. Importantly, they will be able to demonstrate a strong alignment with SIB's values and mission.

Time commitment: c. 2 days per month (including 4 in-person Board meetings per year + an awayday + regular calls with the CEO and attendance at key events / meetings)

Remuneration: £25,000 per year

Deadline: Thursday 28th September 2023

Social Investment Business (SIB) provides finance for a fairer society – which it aims to do through a more diverse, distributed and resilient social economy. It has one of the largest and most mature social investment portfolios in the UK, and one of the most significant track records in providing grant support. Since 2002, it has distributed over £500m to over 4,000 charities and social enterprises across the UK.

SIB began in 2002 as the Adventure Capital Fund, a partnership of several social sector organisations. This £2m fund was created by the UK Government to work out how to create sustainable community enterprises through social investment. Since then, it has managed social investment funds for several government departments, including Futurebuilders, Communitybuilders and the Social Enterprise Investment Fund. In 2011, SIB was endowed £27m which remained in the Communitybuilders Fund and means that SIB has its own money to invest while also enabling it to partner with others.

SIB has long had a unique role in the UK’s social investment landscape. It has fulfilled the role of pioneering investor, support provider, wholesaler, partner and co-investor; through direct working relationships with everyone in the market, it has increasingly bolstered a leading position in knowledge and influence. SIB also hosts key cross-sector initiatives which work toward the betterment of the social investment market, including the Social Investment Forum, the Diversity Forum and the Equality Impact Investing Project.

Over recent years, SIB has worked closely with partners to support the changing social economy by delivering grants and loans to charities and social enterprises on a large scale. At the height of the pandemic in 2020-2021, SIB successfully deployed £29m in blended investment and over £20m in grants to help secure the future of hundreds of charities and social enterprises. Recent achievements also include:

• Leading and co-ordinating the £330m Youth Investment Fund for the UK government, as well as establishing the £200m Youth Endowment Fund with partners
• Leading the social investment response during Covid – managing the £25m, guarantee-backed Resilience & Recovery Loan Fund
• Driving sector-leading data analysis, including the Futurebuilders portfolio, the impact of Covid on local economies, and use within funds to achieve greater diversity

Having distributed £500m over the last 20 years, SIB aims to deploy the same amount in the next three to five years, and the Board are very ambitious for the next phase of development. Driven by the Youth Investment Fund, its headcount has grown from 40 to 70 people. While continuing to put its people and customers at the heart of everything it does, SIB will continue to be an impactful investor as well as support provider, influencing and advocating the economic case for social investment, and balancing between short-, medium- and long-term investments in communities across the UK.

SIB's values are: People First, Curious, Bold, Collaborative, and Accountable. You can find out more about SIB's impact here, and also watch a video introducing SIB here.

The Chair will provide inclusive Leadership to the Board and Trustees, ensuring that they fulfil and stay true to SIB’s vision, mission and longer-term strategy and carry out their duties and responsibilities for the effective governance of the charity. The Chair will work closely with the Chief Executive, the Board and the Leadership team, working collaboratively to achieve agreed objectives. They will also represent SIB as a leader in the social sector, acting as an ambassador for its work.

Key responsibilities include to:

• Lead the Board and the organisation to enable it to fulfil its social purpose
• Support and manage the Chief Executive in the achievement of strategic targets on behalf of the Board
• Facilitate effective decision-making at board level and work collaboratively with the CEO and leadership team to do so at executive level as required
• Carry out annual reviews with Board Members to ensure the ongoing evaluation of SIB’s governance and its effectiveness, and that they are engaged in the organisation’s objectives and activities
• Work in partnership with the CEO and Board to update the strategic plan and work with them to achieve the mission and deliverables
• Chair Board meetings in an effective manner, ensuring that voices are heard, substantive issues are discussed, conflicting opinions aired – and also that necessary decisions made, and the agenda keeps to time  
• Encourage discussion at Board meetings, summarising key points and ensuring full participation with decisions being made and implemented
• Work within the organisation's values, principles, and processes to achieve operational excellence
• Adopt and support SIB's continuous improvement and learning ethos
• Support and embed equality, diversity and inclusion into day-to-day behaviours and activities as well as contributing more widely across SIB’s commitment to ED&I

Social Investment Business is looking for a new Chair who could have a background at a senior level in the non-profit, public or financial services sector, but must bring prior non-executive experience. Importantly, they will be able to demonstrate a strong alignment with SIB's values and mission.

Candidates will have an outstanding reputation in one of the key sectors in which SIB operates, particularly the charitable / social sector, investment / financial sector, or public / governmental sector. They will also have successfully operated as a non-executive, ideally with some experience of chairing, and a strong understanding of governance. They will demonstrate a track record of operating at the most senior level, bringing contacts and credibility. Some exposure to SIB’s work and the wider social sector would be beneficial.

A clear alignment with SIB's five core values will also be an important differentiator between applicants. The successful candidate will have a strong belief in putting people first, be committed to equality, diversity & inclusion, and bring personal strength & resilience – with the ability to support, as well as hold to account, the Board and executive team.

The new Chair will be equally at ease leading in the boardroom or representing SIB externally, as they will meet and engage with its beneficiaries across the UK. They will be enthusiastic and energetic, bring integrity, be willing to commit time to the role, and be passionate about mobilising capital to address inequality.

Rt Hon Hazel Blears, Chair

Amina Ahmad

Jagjit Dosanjh-Elton

Robert Hewitt

Gavin Keyte

Jenny North

Jim Rice

Sonali Siriwardena

Anne-Marie Vine-Lott

Ed Wallis

This role is remunerated, and reasonable, pre-agreed domestic travel expenses will be reimbursed. The Board meets four times per year, within an additional board / team away day; these are largely held in person, with hybrid and remote working options for other calls and any Committees. The Chair is also expected to have regular calls with the Chief Executive, and represent the organisations at various events and meetings with key networks. The appointment is for a four-year term, which can be renewed once at the discretion of the Board.

The upcoming timetable for Board meetings is as follows:

Wednesday 24th January 2024 – Board & Team Awayday, the new Chair would ideally attend

Wednesday 27th March 2024 – Board Meeting, formal appointment of the new Chair

Wednesday 26th June 2024 – Board Meeting, first meeting chaired by the new Chair

Location

This organisation is based in London, and meetings will take place in person. Candidates will, therefore be UK-based.