Trustees
INTRODUCTION
Ufi Trust is an independent grant funder, and our vision is to catalyse change within the UK, creating a place where vocational skills, enabled and supported by digital technology, are celebrated and valued. Ufi supports the development of digital technologies that help everyone obtain the vocational skills we need to get more out of our working lives. We have a shared belief in the power of education to change lives and that vocational skills are the foundation of a thriving economy. We are a fully virtual organisation with a small but expert team, and we are passionate about the ideas we support and the people we want to impact.
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We are a catalyst for change and we provide grant and investment funding to projects that can increase the scale of adults benefiting from access to vocational skills, improve adult learner outcomes, or provide access to skills for those adults who struggle to access or benefit from mainstream education. We have been developing our financial instruments; we now offer both grants and venture investment (VocTech Investments) and we are starting to explore impact investing within our core investment portfolio. Making Venture and Impact Investments is a new and exciting phase of life for Ufi and we are looking for two Trustees who can support us as we grow our grant portfolio, our ventures portfolio, and develop the impact of our core capital.
Ufi Charitable Trust | Trustees | August 2019
We are extremely proud of our unique approach to grant giving. We support successful grant recipients to deliver the best project possible, building a community of current and alumni projects and organisations focused on the best tools for adult vocational learning. We have a wide network of expertise to call on and we encourage our projects to share their knowledge and experiences with other like-minded organisations. We will be rolling out this approach to our venture investment portfolio as it develops.
Feedback from grantees on the added value that Ufi offers as a funder has been extremely positive:
“Ufi funding and their mentoring support really helped us take the leap of faith in to this new area of vocational learning that otherwise we wouldn’t have been able to attempt. Ufi has been fantastic in terms of helping us navigate the uncertainty of outcome in a project like this and helping us get from a starting point to something that’s actually being used in reality by employers every day.” Veejay Lingiah, CEO, Learning Labs
“Our experience of being a Ufi funded project has been a truly positive experience at a number of levels, from the light touch oversight of the programme, the regular events, the support and challenge from our appointed Ufi Project Manager, all converged to ensure that we kept on track and focussed. From the very start we felt that our Ufi Project Manager was excited about what we wanted to do, and he was always available as a “critical friend”. The cohort workshops were great places for the cross fertilisation of ideas and sharing of knowledge…. we certainly picked up a few tips.” Neil Robertson, CEO, NSAR
We are looking for Trustees who will share our passion for change through technology in the world of adult learning, whether that be in education, the workplace, or self-driven.
Applicants don’t require a background in the sector, but we are looking for people who can be as excited by the possibilities for innovative tech as we are! Kind Regards, Tom Wilson - Chair
Ufi Charitable Trust | Trustees | August 2019
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OUR VISION To create a world where vocational skills are celebrated and valued by all as the engine upon which the UK economy is built, and where development of those skills is made possible by the best technology solutions, providing easier access, greater opportunity and better outcomes for all.
OUR MISSION Ufi supports the development of digital technologies that help us all obtain the vocational skills we need to get more out of our working lives.
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Ufi Charitable Trust | Trustees | August 2019
We do this by: XX Providing funding, expertise and commitment to innovators in the development, use and implementation of vocational technology (VocTech). XX Building an active VocTech community of educators, develops, designers, employers, investors and policy makers, and sparking discussion and debate amongst them. XX Using our funding to catalyse change in attitude, focus and investment in VocTech in the UK.
Ufi Charitable Trust | Trustees | August 2019
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ABOUT US Ufi is a lean organisation. We have no central office base and we outsource functions where appropriate. We are dynamic and flexible and see this model continuing as the shape of Ufi continues to evolve. Ufi Trust is an independent grant funder focused on delivering an increase in the scale of vocational learning. Our aim is to help
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improve vocational skills in the UK’s workforce by supporting the development and implementation of digital solutions for vocational learning. We believe that through supporting better lifelong learning for work in all sectors, particularly those not served by the mainstream, the opportunities for personal, business and societal
Ufi Charitable Trust | Trustees | August 2019
growth are immense. Through harnessing the best in digital technologies, the UK will develop a world class vocational education system, which will be the foundation of a thriving economy. We believe in a very different approach to developing skills for work, where technology is an enabler for a more flexible, engaging
learning experience and for delivering improved learning outcomes. We believe that every individual and employer can benefit from the acquisition of new skills, so that everyone has the opportunity to progress, to know the satisfaction of a job well done and to positively contribute to a better future for us all.
Digital technology can change the way that we access learning so that more people are able to develop their skills as well as offering increased flexibility, new approaches to learning, new ways of accrediting learning, new distribution models and new relationships with learning providers.
Digital technology has the potential to work for learners who have disengaged with formal learning as well as opening up access for learners who have been unable to fit into the traditional classroom model, sector professions and communities that have traditionally been neglected in terms of access to skills for work.
Ufi Charitable Trust | Trustees | August 2019
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STRATEGY/AMBITION Ufi’s core strategy is to support the delivery of adult vocational skills through digital technology. Our aim is to use our funding to catalyse change across the UK so that there is a significant increase in the scale of opportunity alongside the quality of provision and improvement in learner outcomes. We know we cannot achieve this alone. Our grant and venture investment strategy and work with strategic partners are the tools we have to catalyse greater change.
Ufi is focused on adult (anyone over 16) vocational learners but we are especially keen to involve those that have failed to be engaged by the education system, or those who have reduced opportunities due to sector, geography or educational attainment. Digital technology has the potential to work for learners who have disengaged with formal patterns of learning as well as opening up access for learners who have been unable to fit into the traditional classroom model. It also provides the opportunity to reach industries and communities that are geographically too spread out to create a sustainable market using traditional methods. We only fund activity that can demonstrate that there is the potential for scale; increasing vocational learner numbers through the use of technology. We will commit our funding to support innovators in this fast moving world – showcasing how learning really impacts the workplace and demonstrating how scale can be achieved to involve many new learners. We aim to 8
Ufi Charitable Trust | Trustees | August 2019
develop a spectrum of projects, both early stage and near market, that showcase the best of digital vocational technology and have the potential for significant impact on the scale of people accessing vocational skills. Our focus is on the ‘unloved’, those professions, communities, industries and skill levels that are undervalued or under supported - where we believe we can have the most significant impact. There is an additional aim to create a community of developers and learning providers that are working at the cutting edge of learning technologies to ensure that vocational learning becomes an attractive market for future investment and we have developed a social investment model to help achieve this. We will invest in projects that have the potential to achieve scale and can show real impact in the world of vocational learning, where our funding will make a significant difference to the number of people gaining skills and the way in which they learn.
“We will invest in projects that have the potential to achieve scale and can show real impact in the world of vocational learning�
Ufi Charitable Trust | Trustees | August 2019
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TRUSTEE
(VENTURE INVESTING)
We are looking to appoint a Trustee with experience of early stage venture capital, joining the board at the beginning of our new programme, investing in ventures which advance Ufi’s mission and have the potential to demonstrate the financial opportunity to invest in VocTech. Time commitment: Approximately 14 days per year
ROLE DESCRIPTION XX Trustee, member of the Trustee board which has responsibility for the impact, financial performance and governance of the Trust
XX Consider investment recommendations made by Ufi Executives and provide challenge and support on these
XX Member of the Ventures Subcommittee. This Sub-Committee oversees the Trust’s investments into early-stage ventures which align with the Trust’s mission and charitable purposes
XX Review reports on investment performance and provide advice to the executive on relevant actions
XX Participate in approximately 6 Board meetings per annum, plus Ventures committee meetings (which may be by video conference)
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Ufi Charitable Trust | Trustees | August 2019
XX Provide informal advice from time to time outside of meetings XX Attend Ufi events, including showcase and portfolio presentations
PERSON SPECIFICATION XX Senior experience and strong track record in early stage venture capital investing XX Consistent senior experience of engaging successfully as a nonexecutive member of a board or similar governance role, building productive working relationships with executives
XX Undisputed personal integrity and a personal style that demonstrates commitment, consistency and a willingness to provide both challenge and support to the executive XX Demonstrates behaviors consistent with Ufi’s values
XX Demonstrable interest in digital technology and its role in learning, ideally in a workplace or vocational setting
Ufi Charitable Trust | Trustees | August 2019
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TRUSTEE
(ASSET MANAGEMENT)
We are looking to appoint a Trustee with experience of asset management and an enthusiasm for impact investing and the wider responsible investment field. This Trustee will be joining the board as Ufi develops its Investment Policy to consider the contribution of our financial investments to achieving our mission. Time commitment: Approximately 12 days per year
ROLE DESCRIPTION XX Trustee, member of the Trustee board which has responsibility for the impact, financial performance and governance of the Trust XX Member of the Investment Committee overseeing investment of the Trust’s financial assets XX May also be asked to be a member of: • Audit Committee overseeing the Trust’s finances including the annual audit, budgeting and risk assessment • Remuneration and Nomination Committee XX Participate in approximately 6 Board meetings per annum, plus committee meetings (which may be by video conference)
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Ufi Charitable Trust | Trustees | August 2019
XX Review the performance of the Investment Portfolio and the performance of the Investment Advisor XX Work with the Finance Director and Impact Investment Director to review financial processes and procedures, with a particular focus on the Investment Policy and Investment Portfolio so that the Trust’s financial investments are more closely aligned to its mission, and approving updates as required XX Provide informal advice to Executives from time to time outside of meetings XX Attend Ufi events, including showcase and portfolio presentations
PERSON SPECIFICATION XX Senior investment management expertise with awareness and knowledge of impact investing and socially responsible investing in a context relevant to Ufi’s financial asset base of c£55m XX Senior experience of engaging successfully as a non-executive member of a board or similar governance role, building productive working relationships with executives
XX Undisputed personal integrity and a personal style that demonstrates commitment, consistency and a willingness to provide both challenge and support to the executive XX Demonstrates behaviors consistent with Ufi’s values
XX Demonstrable interest in digital technology and its role in learning, ideally in a workplace or vocational setting
Ufi Charitable Trust | Trustees | August 2019
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HOW TO APPLY To apply to become a new Trustee of Ufi Trust, please upload a CV and a supporting statement of no more than two pages of A4 onto our website.
We ask that you complete the equal opportunities information online when you submit your application via our website. The information collected will be treated as confidential, used for statistical purposes only, and will not be treated as part of your application. Finally please ensure that you have included your contact number and email address, as well as any dates when you will not be available or might have difficulty with the indicative timetable. Ufi Trust is committed to achieving greater diversity in its board, and welcomes applications regardless of sex, gender, race, age, sexuality, belief or disability.
RECRUITMENT TIMETABLE Deadline for applications: 9th September 2019 Interviews with Prospectus: w/c 16th September 2019 Interviews with Ufi Charitable Trust: w/c 30th September 2019
Applications should be made via the Prospectus website at: https://www.prospect-us.co.uk/jobs/details/hq00175475
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Ufi Charitable Trust | Trustees | August 2019
QUERIES If you wish to have an informal discussion about the opportunity, please contact our retained advisors Jessica Stockford or Camille Revuelta at Prospectus on 0203 479 5405, or email jessica.stockford@prospect-us.co.uk or camille.revuelta@prospect-us.co.uk
Ufi Charitable Trust | Trustees | August 2019
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