Board Recruitment
Board Members - Impact Hub London Limited
Commitment: the minimum commitment we seek is a day a month, but the flexibility to offer up to two days a month when required would be very advantageous. This would include:
half day quarterly board meetings, plus ad hoc interim board calls as required
one or two strategy days each year across the whole of IHL
at least half a day a month supporting the IHL management team in your area of expertise and more broadly as required
for the Finance lead only, the monthly Fincom commitment means two days a month is a more realistic commitment than one
Term: Board members will serve for an initial term of 3 years, which can then be renewed by mutual agreement for two further terms.
Remuneration: Board members will receive a small stipend relative to the work undertaken. The current day rate is £420/day, which is reviewed periodically.
The Opportunity
If you are passionate, resourceful and keen to help create a better world by supporting inclusive innovation with the next generation of social entrepreneurs, then Impact Hub London may well be the opportunity for you. It is both an exciting and challenging time of growth and expansion for us, and so we are taking the opportunity to strengthen and diversify our board to ensure it is fit for the future. We are particularly keen to recruit people who represent our local community and/or have lived experience of the issues we work with, as well as bringing the specific expertise we need.
The successful candidates will support the work of Impact Hub London, providing leadership and oversight of strategy, supporting the management team to deliver our social and environmental impact whilst strengthening our financial sustainability and future capacity for growth. Being a NED is a great way to build your network, gain experience and new perspectives, and make a difference.
Board roles
Board members are ultimately accountable for the governance, impact and financial sustainability of each company, agreeing strategy and supporting the management team to succeed in achieving the mission of Impact Hub London. You don’t need to have served on a board before. In fact, our mission is to be socially inclusive and we would love to welcome people with new perspectives.
Beyond the overall responsibilities of all board members, we are seeking to recruit people who can bring specific expertise to the IHL board. It is possible that one person may bring experience that spans more than one of these areas, but most likely we will recruit a number of individuals each with an understanding of one of these areas. If you are unsure whether your expertise might work for us, feel free to reach out and discuss it with us.
Specific Expertise
We are seeking specific expertise for IHL board roles, as follows:
Finance/investment: an experienced (social) investor, investment advisor or corporate finance expert to support our profitability, growth and financing through providing insights, planning and contacts. This role would chair our Finance Committee (which meets monthly with the CEO and senior management team) and is replacing an existing board member who is standing down. We would value a board member who has:
a good understanding of the social enterprise sector in the UK, including up to date knowledge of the social investment market and trends
a network of contacts in the (social) investment sector in London/UK
a robust understanding of corporate finance and financial governance on any scale, with knowledge of best practices with regards to financial planning and forecasting.
an understanding of the responsibilities of non-executive directors of social enterprises in relation to investment and financial risk and reward.
an accounting or similar financial qualification would be an advantage but not a requirement
experience of raising or supporting the raising of over £1m for a social enterprise would also be an advantage but not a requirement
Property/legal: we have ambitious growth plans for additional workspaces across London. We are therefore seeking a board member who would add their experience to ours within workspace provision, including:
an understanding of the main players in the workspace market in London/UK
knowledge of local/national government policies around affordable workspace and flexible working, such as local authority planning strategies
knowledge/experience of commercial property law, particularly with regard to property leases
knowledge/experience of commercial contract law, and/or health & safety legislation would also be an advantage, but not a requirement
a formal legal training would be a significant advantage in this role
experience of corporate risk management and/or compliance management would be an advantage
People and culture: as our business scales, so our team is expanding, bringing fresh opportunities and challenges for attracting, developing and retaining talent, whilst preserving and evolving our culture and values. We have not yet reached the scale where a dedicated People lead on the management team can be justified, but we hope this NED appointment will be a significant step in upgrading our HR capabilities. We are seeking a board member who:
has a real passion for, and experience in, developing talent and nurturing organisational culture
knowledge of best practices in HR processes and practices
the ability to interface effectively with external advisors and company management (none of whom are formally HR trained) to develop a coherent and consistent approach to people and culture
knowledge/experience of health & safety best practices would also be an advantage, but not a requirement
Ideal Candidates
We are seeking board members who between them bring a range of these personal characteristics and experience:
increase the diversity of our board members, including a mix of backgrounds, gender, age, ethnicity, ability and education levels. We are seeking experience, but we value lived experience as well as qualifications. We do not require board candidates to have served on a board before.
include those with links to our local area - living, working or having other strong connections within LB Camden or Islington.
Skills:
strategy development: the ability to assimilate complex information, adapt experience and knowledge to new contexts and make high quality decisions
a commitment to collaborative teamwork
great communication skills, including advocating for IHL with others externally
an aptitude for listening and engaging - particularly with our management team
an understanding of and commitment to the fiduciary and financial duties of a company director including risk management for IHL - please note, we offer an onboarding process that will equip you if you have never served on a board before
skills and experience relevant to the outlined roles above.
How to Apply
We aim to be champions of inclusivity and diversity so we are particularly keen to hear from candidates who identify as Black, Asian, or Minority Ethnic, LGBTQIA+, disabled, from a less advantaged socioeconomic background as well as any other under-represented groups. We want this process to be as equitable and accessible as possible - so please help us by not including photos, marital status or other data that is not relevant to your suitability for the role in your application. Please let us know if you require any adjustments to ensure you can fully participate in the application process.
We offer a working environment that has step free access. Feel free to reach out to us if you would like to discuss specific accessibility needs.
If you would like to have a conversation with a current board member before applying, please email mike.thompson@impacthub.net or join our webinar on 9 September, 2024 at 5pm using this link.
To apply, please email london.recruitment@impacthub.net with the subject line ‘Board Member’ and include:
Your CV or a link to your LinkedIn profile
A cover letter or short video (no more than 3 minutes, please) sharing why you are interested in being an IHL board member. Please also signpost in your cover letter/video which role/expertise you can bring to the board.
Deadline: 16th September
Interview timings will be confirmed subsequently, but the process will be complete by end October.
If you are selected as a board member, IHL will run an onboarding process to welcome you and ensure you understand the organisation and its current strategy. We are keen to support candidates who have lived experience but who have not previously been on a board, so we will also ensure you understand the role and responsibilities of board members.