The Royal Mint – Non Executive Board Chair

HM Treasury is now seeking a Chair to lead this ambitious, diverse and multi-faceted business at a time of significant strategic change and reinvention.

The role of the Chair is to ensure the Board provides an appropriate level of oversight, challenge, and support to enable TRM to deliver on its business objectives. At a pivotal point in its development, it is vital that the new Chair can support TRM’s strategic vision and organisational development over the next three years.

The appointment will be made by the responsible minister for the Royal Mint, the Economic Secretary to the Treasury.

• Challenge, motivate and provide direction to the organisation to help develop its culture of continuous improvement and to deliver shareholder value.
• Lead the Board to determine and implement its strategy to achieve long term growth within a framework of prudent and effective controls that enables risk to be managed.
• Provide advice and support to the Chief Executive to help drive business performance and deliver the strategy through the achievement of business plans.
• Maintain the values and standards of the organisation, ensuring obligations to its shareholder and stakeholders are understood and met.
• Build and maintain effective relationships with the shareholder and other major stakeholders as required, including Ministers, UKGI, and HM Treasury.
• Objectively monitor management performance and attainment of objectives against targets.

The Royal Mint (TRM) has a history dating back over a thousand years but is firmly focused on the future. The business has diversified, managing the impact of declining global cash use, growing its consumer division, and entering new markets and businesses to allow the organisation to grow and secure its future.

The reinvention of the business has happened, rapidly, with record-breaking results, but it is just the beginning, and TRM is in the middle of an ambitious five-year strategy designed to maximise future potential.

TRM’s core purpose continues to be the delivery of UK circulating coins. With coins at its core, it is seeking to grow long-term value for its shareholders and protect it for future generations.

Today, TRM is a portfolio of businesses, from commemorative coins, historic coins, bullion investments and recently launched luxury jewellery targeting a global audience, to providing circulating coins, and a factory that is recovering gold from electronic waste. TRM also operates a visitor attraction at its location in Llantrisant, South Wales.

Due to its impressive history, TRM has the confidence and capability to build on its heritage of precious metals and British craftsmanship while simultaneously using advances in technology, building its brand, people, and processes as it innovates for future growth.

• Relevant senior board experience with a track record of shaping the strategic vision of an organisation to lead organisational development, ensuring high quality corporate governance, and setting positive organisational cultures.
• Extensive relevant professional experience and a strong commercial acumen gained through senior leadership roles. Ideally, a proven track record of operating in international trading markets across a range of sectors ideally including manufacturing and retail operations.
• Excellent inter-personal skills with proven ability to bring strong leadership to the board of a major high-profile organisation and the emotional intelligence to support, constructively challenge, and advise the Chief Executive. The ideal candidate will demonstrate strong communication skills, an empathetic approach, and the ability to listen and work as part of a team.
• Strong personal credibility to establish and maintain positive working relationships across a wide range of stakeholders including Ministers and senior government officials, accompanied with a thorough understanding of the balance of operating in the public/private interface.

• Previous Chair experience gained at either main board or board committee level.
• A thorough understanding of strategic risk evaluation and appropriate mitigation strategies.
• Experience overseeing substantial strategic and organisational change to address a rapidly changing commercial operating environment.
• An appreciation of the unique status of TRM as a publicly owned institution, reporting to the Chancellor of the Exchequer and a recognition of broader parliamentary accountability.