The Best Practice Principles Group (“BPPG”) was formed in February 2013 to promote greater understanding of the corporate governance research and support services provided to professional investors and other capital markets participants. With the publication of the updated 2019 Best Practice Principles for Shareholder Voting Research & Analysis (“BPP”), which foresee the installment of an oversight body to monitor and oversee the implementation of the principles, the BPPG is seeking an independent chair of the Oversight Committee.
The principles were subject to a thorough independent review in 2018 and 2019, following a public consultation in 2017. The introduction of new governance arrangements was a key recommendation by both ESMA (the European Securities and Market Authority) as well as respondents to the 2017 public consultation. The new governance structure defined in the updated BPP includes a new BPP Oversight Committee, updated annual reporting arrangements, and new annual monitoring arrangements.
The newly created Oversight Committee is the governing body providing (i) an annual independent review of the monitoring of the Best Practice Principles and (ii) an annual independent review of the public reporting of each BPP Signatory. The BPP Oversight Committee’s governance aims to provide confidence in the Principles that underpin the services provided by BPP Signatories. The Oversight Committee will also provide guidance and advice to the BPPG with respect to the operation and development of the Principles.
Start Date: Q4 2019
Term of Appointment: 2-year term
Time Commitment: Minimum of 1 meeting per quarter with commitment and flexibility to dedicate additional time to review year-end reporting in line with annual cycle
Remuneration: TBD based on expectations of a part-time chair position
Tasks and Responsibilities:
The chair is the presiding member of the Oversight Committee and is responsible for promoting the efficient and cohesive functioning of the Committee. The chair is responsible for promoting excellent relationships between the Oversight Committee, BPP Members, regulators and other stakeholders.
Together with the Oversight Committee, the chair’s tasks include:
- Supervision of independent annual reviews of each BPP Signatory’s Public Statement of Compliance, in order to identify matters considered to require further BPP Signatory action or clarification.
- Ratification of applications by new BPP Signatories that have been approved by BPPG members and sanction of Signatories that are non-compliant, up to the point of ending the BPP Signatory status and BPPG membership.
- Oversight of the complaints-management procedure of the BPPG, including monitoring of outcomes of those procedures.
- Management of an annual open forum for investors, companies and other interested stakeholders for education, questions and feedback on the Principles.
- Review and administration of suggested minor updates to the Principles outside of the periodic major reviews and updates.
- Monitoring of progress and impact of the Principles.
- Development and publication of an annual report summarizing the activities and findings of the BPP Oversight Committee, which will be published on the website of the Best Practice Principles Group.
Further information on the role of the Best Practice Principles Group and its Oversight Committee can be found here. The Report of the Independent Review Chair of the 2019 Best Practice Principles for Providers of Shareholder Voting Research & Analysis can be found here and the 2019 Best Practice Principles can be found here.
- Demonstrate a strong commitment to the BPPG, its strategic objectives and intent
- To be independent from BPPG members and BPP signatories
- Exhibit strong inter-personal and relationship building abilities
- Demonstrate tact and diplomacy, with the ability to listen and engage effectively
- Strong networking capabilities that can be utilized for the benefit of the BPPG
- Ability to foster and promote a collaborative team environment
Experience and Skills
- Experience with corporate governance or ESG research and support services provided to professional investors and other capital markets participants
- Experience of external representation, delivering presentations and managing stakeholders
- Strong leadership skills and ability to bring people together
Please submit your application through: Committee@bppgrp.info. Informal enquiries on the organization, role, responsibilities are also welcomed.
Upon inception of the BPP Oversight Committee, BPPG members will appoint the BPP Oversight Committee Independent Chair in advance of the BPP Oversight Committee members.
Closing Date for applications is 25 October 2019.