Independent Chair, Valuation Assurance Committee

Ready for an exciting challenge? How about the chance to build a new Committee from scratch, whilst leading global change… it really is as interesting as it sounds.

RICS is seeking to appoint an experienced Independent Chair who will have a crucial role in the formation of the new RICS Valuation Assurance Committee (VAC). The purpose of the VAC is to oversee the regulatory quality assurance framework for the 16,000+ RICS Registered Valuers and 2,500+ RICS Regulated firms that undertake property valuation services globally.

As Chair, you will foster a culture of strategic innovation and policy development to uphold and enhance trust and confidence in RICS Valuations. You'll support the RICS Standards and Regulation Board (SRB) in operating independently from the interests of members, ensuring the delivery of its regulatory functions in the public interest. Although you have a lot to offer, your ethical principles and extensive chairing experience will make a tangible difference from day one, as your initial task on appointment is to recruit the remaining committee members (four RICS Valuers and four Non-Valuer (independent) members).

The time commitment of 25 days will be utilised for regular committee meetings, committee member reviews, meetings with the SRB, governance bodies, working groups and engagement with RICS members and high-profile external stakeholders. External stakeholders include the Bank of England, Financial Conduct Authority, Financial Reporting Council, Prudential Regulation Authority, Government departments and investor bodies.

Key requirements of the role include: -

Recent and demonstratable experience as an Independent/Lay Chair.
Senior leadership experience in relevant sectors such as compliance, auditing, regulatory, insurance, legal, financial, investment.
A deep understanding of cross-jurisdictional professional standards and regulatory assurance.
The ability to inspire trust and uphold high standards of integrity and professionalism to work in the public interest.
(Desirable) An understanding of the valuation processes, and the importance in market and economic contexts.

The full role description and person specification can be found here.

This really is a unique chance to lead and shape a committee that ensures the highest standards in property valuation services worldwide. Your expertise will directly influence the integrity and trust in RICS Valuations, impacting stakeholders and regulatory bodies globally.

Key Information

Must be independent of RICS (having never been a member nor be currently undertaking valuations themselves or working within an organisation that provides valuation services).
Chair at least four meetings (held virtually) per year, with potential for one in-person meeting, in either London or Birmingham.
Anticipated time commitment is 25 days per annum.
Remuneration of £15,000 per annum (paid monthly via Invoice, role is non-pensionable).
Reasonable travel and expenses paid in accordance with RICS policies.
The maximum term of an appointment will be three years. There may be no more than two successive terms of appointment up to a maximum of six years.
Closing date for applications is 17:00 (BST) on Thursday 20 June 2024.
A panel interview to take place Monday 8 July 2024, this interview will be via MS Teams.
Full role description and person specification can be accessed here.
Valuation Assurance Committee Terms of Reference can be found here.
Everyone who applies will receive a response by no later than Friday 28 June 2024.

The Application Process

This recruitment campaign is being supported by an external recruitment partner, Michelle Paoloni at House Recruitment. Completed applications should be sent no later than 17:00 (BST) on Thursday 20June 2024 to RICS@houserecruitment.co.uk.

The application should consist of:

A supporting statement (maximum two pages) which is an opportunity to outline how the requirements within the person specification are met and any additional information that may support your application.
An up-to-date CV, detailing any relevant professional body membership (i.e., regulated profession membership status and number).
Diversity and Inclusivity Monitoring Form – completed only on application.

The Interview Process

Discovery call – following an initial longlisting exercise, the initial shortlisted candidates will have a discovery call with the external recruitment partner Michelle Paoloni. This will be an opportunity to discuss elements of the supporting statement, identify any further important information and answer any candidate questions.
Final stage interview - this will take place (via MS Teams) with the candidate and the Appointment Panel on Monday 8 July 2024.

If you have any questions, please contact Michelle Paoloni, RICS@houserecruitment.co.uk.

With a diverse membership from around the world, RICS encourages applications from global candidates with a diverse background, people from an ethnic minority, people with disabilities and other underrepresented groups.