Ofwat is seeking to appoint at least two new Non-Executive Directors to join its Board, one of whom will chair the Audit Committee.  

The water sector regulator wants to use the board membership to broaden its skill base as part of a planned succession programme to replace Robin Paynter Bryant and Wendy Barnes when their terms of office end in early 2016.

Ofwat  is using executive search firm Odgers Berndtson to find suitable candidates. The briefing document setting out the context of the role for potential applicants says the regulator has been through considerable change over the last three years, delivering significant change in the sector which it regulates under a largely new Board.

The Board currently has four executive directors including CEO Cathryn Ross, six non executive directors (who collectively span a range of business leadership, customer, public service, capital markets and economic backgrounds) and non-executive Chair, Jonson Cox.  The brief says:

“Ofwat’s requirements that companies improve their Board Leadership and Governance has enabled Ofwat to have the confidence to adopt a less intrusive, and more targeted, regulatory regime. The Board’s decisions on a range of matters have demonstrated a firm but fair approach to holding the sector to account. The NEDs on the Board have been pivotal in bringing a wide set of experiences to bear in this role. “ 

“The future agenda has very considerable commercial, environmental and financial challenges. ….To tackle these challenges, Ofwat has reshaped itself into a leaner, higher calibre regulator capable of playing its part to maintain trust and confidence in the water sector. Ofwat’s aim is to be a leading edge, trusted and respected regulator, challenging itself and others to build this trust and confidence.”

The regulator currently employs around 150 people with a broad range of professional backgrounds including economists, accountants, lawyers, engineers, scientists and support service specialists.

Ofwat said it will be looking in particular for individuals with knowledge and working experience of capital markets, a background in finance, risk or the management of public funds and an experience of  transformative business leadership. It will also look for evidence of innovative strategic thinking and a track record that demonstrates a willingness to stand by the courage of their convictions, saying:

“ The Board as a whole needs to be capable of making difficult decisions and defending them under pressure.”

The general role of the new NEDS will be to:

• Contribute to the development of Ofwat’s long term strategy across a wide range of regulatory and market issues;
• Contribute to board effectiveness at Ofwat;
• Ensure Ofwat secures effective governance of itself and the sector it regulates;
• Contribute experience from sectors other than the water and wastewater sector;
• Provide a constructive source of challenge to the Executive;

Ofwat is working with executive search specialists Odgers Berndtson on the appointment -the firm is inviting applications from first-time or experienced Non-Executive Directors  with a deadline of Monday 12th October.

The Appointments Panel which will conduct the interview will be chaired by Jonson Cox - other members include Sarah Hendry, Director at Defra, Welsh Government Representative Prys Davies and Roger Witcomb an independent Panel Member.

Final appointments will be announced around the end of January/early February next year. Preferred method of application is online – click here for further information.