The Payments Innovation Forum (PIF) has today launched its call for nominations and applications to the PIF Board of Directors. PIF is seeking nominations from current members of PIF, eager to help drive the organisation as its focuses firmly on the future, emboldened with a new name and strategic plan.
Joining the PIF Board gives members an opportunity to make a difference. With their fellow Board members, they have responsibilities for further developing and driving the strategic direction of PIF. They will tap into the expertise and enthusiasm of their Board colleagues, overseeing both current and longer ongoing strategies.
There are seven member-elected non-executive positions available in this election.
The call for nominations closes at 5pm on Friday, 15 July
Role and responsibilities of the PIF Board
The PIF Board of Directors is accountable to PIF members for ensuring that the company is appropriately managed and achieves the strategic objectives it sets. The Board carries out its responsibilities through monthly Board meetings, which includes approval of overall budgetary planning and business strategy.
- Ensuring that PIF's activities are first and foremost advancing its mission. The Board must make decisions that are in the interests of PIF, not in the interests of individual Board members or any other individual or organisation
- Ensuring the financial strength and good governance of the company
- Monitoring PIF's performance in relation to strategies, plans, decisions and in view of PIF member feedback
- Ensuring PIF conducts its business lawfully and in accordance with generally accepted standards of performance, integrity, good practice and regulatory requirements
In addition, PIF Board members are expected to:
Know and promote understanding of PIF's mission, vision and strategic plan
Represent PIF in a positive and informative way
Attend all Board meetings and participate in discussion thoughtfully and responsibly
Provide open and constructive challenge, in relation to PIF's strategy, business plan and activities
Make a proactive contribution to PIF's activities by encouraging individuals from their own organisation to engage with PIF
Who can put themselves forward?
Candidates must be employed by a PIF member organisation in good standing. We are seeking individuals able to focus on high-level, long-range strategic issues, and dedicate their time and expertise to support PIF's mission and goals.
What is the time commitment?
Board participation requires time to prepare for and attend Board meetings. The PIF Board normally meets in person four times a year, typically in March, June, September (in conjunction with the PIF Annual Meeting) and December, and virtually in the intervening months. Board members should make themselves available for enquiries from PIF staff on an ad-hoc basis, and be responsive to communications from the PIF Board and staff.
What are the main terms of appointment?
PIF Board members serve a three-year term. Board members may resign from the Board before the end of their term by providing one month's notice to the Board in writing. A Board members' appointment may be terminated if they fail to attend two consecutive Board meetings. A Board members' appointment will be terminated if they are no longer employed by the member organisation, or the member organisation no longer remans a member.
Timeline and how to submit your nomination
To nominate or self-nominate, PIF members should compete and return the PIF Board Application Form no later than 5pm on Friday, 15 July.
The call for nominations closes on 15 July 2022
The member vote will take place from 18-29 July 2022
New Board members will be announced on 2 August 2022
If members have any questions or would like to discuss this opportunity further, they should email [email protected]