Candidate Information The Bursar Lincoln College, Oxford

Closing date for applications: Monday 1st February 2016 at 8.00 am

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Contents

Pages About Lincoln

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The Role

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The Person

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Terms & Conditions

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How to Apply & Appointment Process

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About Lincoln Founded by Richard Fleming, Bishop of Lincoln, in 1427, Lincoln is a long-established, central Oxford college with a proud history, celebrating its 600th anniversary in 2027. The College values its traditions yet also likes to be progressive, for example having been the first college to establish a Middle Common Room, and also the first college to appoint a professional fundraiser. The College teaches a range of academic subjects to over 600 students, divided more or less equally between undergraduates and postgraduates. It takes pride in the levels of support available to its students, with one of the largest number of scholarships for graduate students and a generous programme of undergraduate bursaries. Lincoln’s Fellows believe in the importance of teaching as well as in the value of research; they are strongly committed to both. Lincoln enjoys a relatively high position on the table of endowment wealth, with a diversified c£100M portfolio, including a significant property portfolio. It benefits from the support of engaged and generous alumni, as well as of several external foundations. As a consequence, the College is in the fortunate position to be able to fund many of its aspirations, yet remains ambitious in its aims: to grow the endowment to ensure longterm self-sufficiency; to continue development of the on-site facilities and renovation of its property portfolio; to endow more fellowships; and to build the resources required for studentships. The 2027 anniversary presents an opportunity in this respect. In short, without being complacent, the College is a “success story” that the Fellows are keen to maintain, and the Bursar’s appointment needs to be set in this context. Further details can be found on the College’s website: www.lincoln.ox.ac.uk.



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The Role The Bursar is an Official Fellow of the College, and so a member of its Governing Body and one of its charity Trustees. The Bursar is responsible for the safeguarding and the investment of the endowment and for the financial efficiency of College operations. Like all Oxford colleges, Lincoln College is an autonomous or semi-autonomous corporation within the University of Oxford, existing for charitable purposes. It is ruled by its own Governing Body, presided over by the Rector, and made up of its own Fellows, who thus serve as Trustees of the charity: all Trustees have an equal voice in the running of the charity. The Governing Body is bound by the College’s charitable objectives and is overseen by the Charities Commission. The Bursar exercises his/her responsibilities by recommending courses of action to the College’s Governing Body and by implementing its decisions. Governing Body may, however, agree to delegate responsibility for certain matters to the Bursar. The Bursar is the College’s senior financial officer with the following particular responsibilities: •

Advising on the College’s financial strategy and on the investment of the endowment;

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Overseeing the College’s financial operations; this includes having financial oversight of the College’s domestic operation.

At the moment, the management of the College’s financial asset portfolio is largely entrusted to two external investment firms, whilst that of its real estate portfolio is managed more directly in-house. As a guiding principle, the College’s drawdown is set at a target of no more than 3% of the total endowment. The Bursar convenes the Finance Committee, the body in College that has particular responsibility for monitoring College finances and for advising the Governing Body as to financial policy. The Bursar sits on most of the College’s other committees, chairing the Equality Committee and the Health and Safety Committee and, in addition to the Finance Committee, convening the Planning Committee. The Bursar is also responsible for the College’s Data Protection and for dealing with Freedom of Information requests. The post-holder is not expected to undertake academic duties. Major duties and responsibilities The Governing Body looks to the Bursar to support and assist it in a number of ways. These principally include: A. Strategic



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To advise on financial and investment strategy; to formulate proposals and projects; to plan for income generation; to identify possible cost-savings.

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To prepare reports and proposals for Finance Committee and Governing Body; to monitor the College’s annual budget, ensuring the availability of adequate information for financial planning and the control of expenditure.

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To represent the College as appropriate in discussions and negotiations with other parties. To sit on the University Estates Bursars’ Committee and to handle negotiations as appropriate with the University, the City and other colleges.

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The Role •

To work with the Development Director on the financial aspects of the development programme. The College is working towards its 600th anniversary in 2027, and is developing major fund-raising campaigns.

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To oversee the management of the College’s major building projects.

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To understand and help the College to benefit from the means for distributing financial flows among colleges through the Joint Resource Allocation Mechanism and other similar mechanisms used by the University.

B. Financial Management •

To ensure the College’s endowment, including the Trust Funds for which the College is responsible, is properly invested and managed in accordance with Governing Body policies.

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To prepare the College’s annual statutory accounts.

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To prepare the College’s management accounts, including setting the level of rents and charges within the College; and, once these accounts have been adopted, to manage them effectively.

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To present regular management accounts to the Finance Committee.

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To ensure adequate banking, cash management and insurance arrangements for the College and its property.

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To oversee the administration of contractual arrangements, stipends, salaries and pensions of all College employees.

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To supervise the work of the College Accounts Office.

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To meet and advise members of the College who may be in need of financial assistance.

C. Properties and Buildings •

To produce a long-term strategy and medium-term plans for the development of the College’s estate.

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To oversee the management and administration of the College estates.

D. Line-Management



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To be the line-manager of the Domestic Operations Manager, and so to be ultimately responsible to Governing Body for the effective management of the College’s domestic operations. The Bursar will set the DOM’s objectives and conduct his/her annual performance appraisal. The DOM (to be recruited) is expected to have a high level of operational autonomy, managing day-to-day business with limited direction from the Bursar, while working within the management accounts budget and under the Bursar’s ultimate authority.

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To have overall financial oversight of the College’s domestic operation, but not normally to engage with day-to-day domestic operations. It will be the Bursar’s role to monitor spending, and to advise, facilitate or constrain any necessary or planned overspend.

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To line-manage: the Bursar’s Secretary (currently a job-share); the Accountant; the Land Agent; the IT Manager; the HR Manager; the Librarian and the Archivist (who also report to the Fellow Librarian and the Fellow Archivist, respectively). 3

The Role The Bursar acts as Secretary to the College’s Remuneration Committee and to the 2027 Trust. E. Wider College Responsibilities •

To serve as a member of Governing Body and thus as one of the College’s charity Trustees.

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To be involved in the College’s academic strategy and the life of its students, sitting on such committees as the Senior Tutor’s Committee, the Junior Relations Committee and the Welfare Committee.

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To play an important part in the life and activities of the College as a whole.

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To assist in maintaining and developing the College’s relationships with its alumni.

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The Person The post calls for someone with experience of financial management at a senior level, together with financial acumen and initiative, and a knowledge of investment strategy and practice. The holder might have a recognised accountancy qualification, an MBA or other appropriate management qualification, but these are not requirements for the post. Excellent communication and team-working skills are important; the College particularly values open communications and an attentive and collaborative approach. In addition, some understanding of and sympathy for the structure and workings of colleges and of universities would be highly desirable. Applications for this appointment will therefore be assessed against the following competences: Experience and Skills •

Significant financial management experience at a senior level.

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Experience of managing people.

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Experience of setting and managing budgets.

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Knowledge of investment strategy and practice.

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Experience of leading small and preferably multi-functional teams.

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An understanding of the implications of the College’s charitable status and a commitment to the College’s priorities of teaching and research.

Personal Qualities



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Very strong relationship skills; an ability to deploy business skills and experience in a collegiate and collaborative manner with Governing Body colleagues.

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A willingness and an ability to work in a collegiate and collaborative manner with all members of the College, including its staff, students and alumni.

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An ability to engage comfortably at all levels within the College community – academic staff, domestic and administrative staff, and students – as well as across the collegiate university.

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A clear and confident communicator, especially able to communicate complex financial issues concisely and with clarity to colleagues who are not financially experienced.

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The ability to communicate effectively both orally and in writing, and to gain the confidence of a wide range of people, within and beyond the College.

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Highly developed negotiating and interpersonal skills, and the ability to demonstrate a diplomatic and consensual approach to problem-resolution, allied with an understanding of sensitive and confidential matters.

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Intellectually strong, and able to command the respect of academic colleagues.

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A sensitive and supportive team leader.

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Comfortable with ambiguity and recognising the compromises sometimes required in an academic environment.

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Supportive of the College’s traditions, academic purpose and ambitions.

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A pragmatic problem-solver, ready and able to act in a generalist managerial capacity, turning his/her hand to a wide range of responsibilities – comfortable at both the operational and strategic level.

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Willing to play a full part in the life of the College. 5

Terms & Conditions



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The tenure of the post is for five years in the first instance, with the expectation of renewal (subject to Governing Body agreement). The successful candidate will be expected to take post as soon as possible after accepting an offer of employment, subject to any notice period to be served with a current employer. The College has adopted a retirement date for Fellows of 30th September before the 68th birthday. There is a procedure for requesting an extension of employment beyond that date.

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The salary package will be appropriate to a charitable higher-education institution. Salary and allowances are increased in line with College academic salaries and may be reviewed by the College’s Remuneration Committee.

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The successful candidate will be eligible to become a member of the Universities Superannuation Scheme under which there is currently a deduction of 6.5% (for new members), in addition to which the College pays 16% of the salary figure into the Scheme. If the Bursar continues in office beyond the age of 67, the College will not make any further contributions to his/her pension scheme.

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The successful candidate will be eligible for membership of the College’s private health insurance scheme and will be entitled to an entertainment allowance.

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As an Official Fellow of the College, the Bursar is entitled to lunch and dinner in the College, free of charge, at all times of year when College meals are available.

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The Bursar will be elected to Fellowship of the College, which, under the College’s Statutes, is initially for a probationary period of one year, with renewal for a further four years thereafter. In the event of the Bursarship being renewed at the end of the initial five-year period, the associated Fellowship would also be renewable, again subject to the College Statutes permitting renewals at intervals of five years.

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The Bursar will be entitled to 30 days’ annual leave, in addition to the 8 public holidays. The times at which leave may be taken will be subject to the College’s management needs and will be agreed with the Rector. The Bursar may not take any employment or consultancy outside College without Governing Body’s prior permission.

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The College reserves the right to ask for completion of a medical questionnaire or to require a medical examination before confirming an offer of employment.

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How to Apply & Appointment Process APPLICATIONS Please apply by email (preferred) to our retained consultant, David Richards of OCT Associates ([email protected]). If you have difficulty with email, or if you would like to discuss this opportunity further before deciding whether to apply, please telephone OCT Associates on 0845 116 2672 or 07798 523422. Applications should comprise a CV, giving full career details, achievements and qualifications, together with a short covering letter (no more than two pages). This should explain your interest in the role, and particularly highlight what might make you stand out from others as a strong candidate (why you should get the job, rather than merely why you could do it). You are requested also to give details of your current remuneration. In your covering letter, please also give details of any dates on which you would not be available for interview within the date windows set out below. Since we will correspond with you by email and phone, please ensure that you provide us with an email address and phone numbers that you are happy for us to use for this purpose. Please provide a mobile phone contact if possible. CLOSING DATE The closing date for applications will be Monday 1st February 2016 (8.00 am). Late applications may not be considered. EQUAL OPPORTUNITIES Lincoln College is committed to equality of opportunity and diversity in employment. A disability or health problem does not preclude full consideration for the job, as any reasonable adjustments to the role will be explored. This information may need to be shared with the recruitment panel in order for them to consider any such adjustments. Please inform us in your application what arrangements you might need in employment or in attending for interview. SELECTION PROCESS Applications will be acknowledged by OCT Associates upon receipt. After the closing date, all candidates will be informed by email or phone of the outcome of their applications. A long list of candidates who most closely match the requirements will be invited to an initial interview with OCT Associates. These interviews will be held in Oxford in the week commencing 22nd February 2016. Following these initial interviews, a short list of the best-qualified candidates will be invited to attend a panel interview with the College Appointment Committee on the mornings of either 17th or 21st March. One or more candidates may then be invited back for a second interview on the morning of Thursday 24th March. (Please note that the opportunity for flexibility in these interview dates/times may be limited.) Ahead of the College interviews, short-listed candidates may be invited to visit the College for briefing meetings with Fellows and senior staff. TRAVEL EXPENSES Reasonable travel expenses will be reimbursed to candidates required to attend for interview, by application to OCT Associates. Rail travel should be Standard Class, and 7



How to Apply & Appointment Process mileage claims will be reimbursed at HMRC standard rates. Please discuss any significant expenses (e.g., international travel or long journeys) with David Richards before incurring the expense.





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