NS&I offers up to £195k for next chief exec

Executive agency says current boss Ian Ackerley will step down in the spring
NS&I chief exec Ian Ackerley

By Jim Dunton

21 Nov 2022

National Savings & Investments has launched the hunt for a successor to chief executive Ian Ackerley, who is due to step down in the spring after six years in the role.

The Premium Bonds operator, which is formally a government department and an executive agency of the chancellor of the Exchequer, is offering up to £195,000-a-year plus a performace-related bonus to the successful candidate.

According to NS&I’s annual report and accounts for 2021-22, Ackerley’s pay for the last financial year was bracketed at £195,000-£200,000. He also received performance-related pay categorised as £20,000-£25,000. His salary was unchanged from the previous year, however his performance-related top-up was higher in 2020-21, when it was bracketed at £25,000-£30,000.

NS&I’s advertisement for the SCS Pay Band 3 role says the agency’s chief executive also serves as director of savings and accounting officer, and is directly accountable to HM Treasury ministers and parliament for all aspects of the NS&I business.

A guide for prospective applicants said there were eight major aspects to the chief exec role. They include delivering cost-effective financing to HM Treasury, as well as providing administration services to other parts of government; leading NS&I’s transition to a multi-supplier operating model as part of the Rainbow Programme; and ensuring service-delivery targets are met.

According to NS&I’s latest annual report, the organisation had an average of 196 full-time equivalent staff in 2021-22.

Recruitment firm Gatenby Sanderson is managing the search for NS&I’s new chief exec. It said the chief executive would need to be based at the agency’s London office.

The application deadline for the role is 23.55 on 2 January 2023.

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