ABOUT THE TORBAY ECONOMIC DEVELOPMENT COMPANY

Established in 2011, the Torbay Economic Development Company (TDA) is a company limited by shares and wholly owned by Torbay Council. The Company exists to support Torbay Council’s objectives for the economic regeneration of Torbay and is an award winning provider of business and property services to a range of clients including Torbay Council, South Hams District Council, Teignbridge District Council, Somerset County Council, South Devon College and others in the public and private sectors.

The TDA makes a real difference to the lives of people living and working in the South West, delivering innovative and practical programmes in areas including job and business creation. Year on year we are successfully delivering high quality economic development, property and business services to a growing customer base across the South West. TDA has a strong track record of delivery and has:

  • Worked with key stakeholders, including the business community to prepare comprehensive economic strategies and plans
  • Created jobs and businesses, with 170 jobs and 65 businesses being created in Torbay in the last year alone
  • Realised £6m from asset sales in Torbay alone, on behalf of Torbay Council
  • Delivered a range of capital and revenue funded projects from engineering solutions, school refurbishments to new build
  • Secured external grant for Torbay Council in excess of TDA total turnover
  • Delivered ongoing savings amounting to £1.1m p.a. to Torbay Council

Looking ahead the main business objectives for TDA are to:

  • To generate a trading surplus for reinvestment to assist delivery of the primary objectives of the company i.e. economic development, physical regeneration and business growth within the Borough of Torbay
  • Deliver a consistent gross operating profit, rising over the business plan period
  • To increase turnover by 50% by the end of the plan period
  • Expand the client base both geographically and across existing service areas
  • Develop an expanded range of services
  • Deliver high quality services on time, within budget

We are now seeking applications to serve as a non executive director on the board of the company. Applications from candidates with an expertise in marketing, property development, law or the healthcare sector would be particularly welcomed. Interested applicants can read more on the role and background of the TDA here:

As Board Member your respective track record, experience and insight will add value to our decision making processes and contribute to driving the delivery of complex projects.

Given the scale of projects and the shared ambition, you will need to be passionate about wanting to make a difference. You will be dealing with large, complex development issues and working closely with the Board and Chief Executive to secure investment and successful outcomes beneficial to the future of Torbay and for our growing number of clients.

ABOUTTHEROLES

The Company has an established board chaired by Vince Flower, The board currently numbers eleven, with three posts filled by appointments from Torbay Council.

The Board has a private sector majority and is now seeking a further two board members to complement the existing skills on the board, support the TEDC’s growth aspirations and to ensure that the Company is responsive to relevant sectors interests.

Candidates with experience in marketing, property development, legal or the health sector are particularly welcome. With regard to the time commitment you will need to commit to attending board meetings every two months and serving on one of the board’s sub committees, also meeting every two months.

These appointments will be for Non-Executive Directors serving in a voluntary capacity although expenses can be claimed.

The successful non-executive director appointees will be expected to fulfil all the generic requirements of non-executive directors in relation to good corporate governance.

Their role will include responsibility for:

Strategy: To challenge constructively strategic assumptions, help to contribute towards the development of strategic objectives and their ultimate delivery

Performance: To scrutinise the performance of management in meeting agreed goals and objectives

Risk: To ensure that financial information is accurate and that financial controls and systems of risk management are robust and defensible

The appointees will need to become well informed about the business, the environment in which it operates and the issues it faces.

Appointees will need to question constructively, challenge where necessary and decide objectively in the best interests of the company. All the non-executive directors are expected to bring an independent and broad view on corporate issues, help ensure there are adequate systems to safeguard the interests of the company and see that shareholders are provided with sufficient and timely information.

Applications should be submitted as a written statement setting out how evidence of proven experience in response to as many of the criteria listed in "Part One" of the Person Specification, shown below, as possible.

Applications should be submitted to marked “Non Executive Director” recruitment.

Timescale

Date of advert / Week commencing 16thJanuary
Closing date / Friday 10th February 2017
Short list meeting / Monday 20th February 2017
Panel interviews / Week commencing 27th February 2017

BOARDMEMBERS JOBDESCRIPTION

Keyresponsibilities:

•Strategic–tocontributetowardstheCompany’svision,valuesandstrategicgoals,to participateintheidentificationofstrategicorganisationalrisk.

•Performancemonitoring–toreceiveandreviewperformancedataandinformationto compareachievementsagainst targets and where necessary implementationofremedialaction. Checkthateffectivefinancialcontrol arrangementsareinplacetosecurethefinancialviabilityoftheCompany.

•Governance–tosupportandconstructivelychallengetheCompanyBoard,including theChairman and ChiefExecutive, toensure theBoard conforms tothehighest standardsofCorporateandInformationGovernance,actsinthe interestof the communityandstakeholdersitservesandisseentobe accountablefortheservices providedandtheresourcesdeployed. All board members are expected to serve on one of the Board’s sub committees which act to support the work of the full board and offer a support and challenge role to the executive team. The current sub committee structure includes;

  • Economic Development
  • Finance & Governance
  • Property & Projects

•Guidance–toprovidegeneralcounselandspecificadvicebasedonyourparticular knowledgeandexpertise.

Self–totakeresponsibilityforownpersonaldevelopmentandcontribution.

PERSONSPECIFICATION

In your written application, please give evidence of proven experience in response to as many of the criteria listed in "Part One" of the Person Specification as possible.
These responses will be further developed and discussed with those candidates invited for interview, together with the other criteria listed in "Part Two".
It is expected that the successful candidate will be able to demonstrate a strong record across a broad range of the criteria in both Part One and Part Two:

Private sector Board members are sought who should collectively bring the following to the Board:

Part One: Essential Experience

  1. Experience of high-level business sector activity.
  1. Experience of contributing to the delivery of complex projects of comparable complexity
  1. Track record of managing complex development financial budgets
  1. Strategic vision and experience of decision making in a complex environment
  1. Board-level experience of the leadership of an organisation working in a complex operating environment
  1. The ability to work effectively as part of a leadership team and take the lead in the corporate decision making process
  1. Demonstrable willingness to develop an active interest in the physical, economic and social regeneration of Torbay or our other areas of operation and with an appreciation of the wider business and community interests in the area
  1. Experience of leadership of an organisation delivering a complex range of activities

Part Two: Knowledge, Skills and Abilities

  1. Knowledge of business sectors important to the development of Torbay and/or delivery of other projects is desirable
  1. Effective communication skills and the ability to act as an advocate and champion for the TEDC
  1. Knowledge of and credibility within government and other public agencies

Personal Style and Behaviour

  1. A respected individual with a track record of delivery
  1. A credible and persuasive leader
  1. Articulate, dynamic, energetic and delivery focused.
  1. Able to translate broad objectives into delivering real outcomes
  1. Self – motivation, commitment and enthusiasm, relentless, in the pursuit of delivering results.
  1. Leads by example, inclusive rather than exclusive, and prepared to share expertise, know how and skills.
  1. Commitment values; driving the physical, social, and economic regeneration of and organisational governance.
  1. Innovative ideas for delivering hugely complex regeneration programmes, with the ability to think outside traditional boundaries and ways of doing things.
  1. A highly presentable and persuasive communicator