Sarah, thank you for finding the time to talk to me this morning. Perhaps we could start by talking about your role within Nationwide.

I have been lucky to have performed several roles in my 27 years with Nationwide. My current role is Head of Regulatory Relations, which is a role I really enjoy. In fact, it is probably my favourite role to date. Prior to this I have held HR, Procurement, Project Management and Training roles as well as a one-year secondment to the Building Society Association, which is the trade body for Building Societies.

You certainly have a broad spectrum of experience; can you explain in a little more detail what Regulatory Relations is?

There are two key regulatory bodies who the Society work with, the first is the Financial Conduct Authority or FCA. The FCA mainly focus on financial consumer issues. The second is the Prudential Regulation Authority or PRA. The PRA is part of the Bank of England and supervises the 1,500 banks, building societies, credit unions, insurers and major investment firms in the UK. My role, supported by my team, is to build and maintain a strong and efficient working relationship with both of these organisations.

And what about outside work?

I live in Swindon, in fact only a short walk from our offices on Pipers Way, with my two cats Mac and Murphy. Until recently I was the Chair of the Trustee for a local hospice. I am also currently on the Board of Governors for Swindon College, although I am standing down from this role by the end of this year.

This previous experience as a Governor and a Trustee must have helped you adjust to your role as a Pension Fund Trustee. What are the qualities you feel you demonstrate which makes you a good Trustee?

Firstly, I class myself as a generalist, I am certainly not a pensions expert and my desire to understand more about pensions, and specifically how our Pension Fund operates was one of my key motivations for standing for this role. I am good at asking questions that gets to ‘the heart of the matter’. I was also very conscious that previously there was not a female voice on the Trustee Board.

How have you found your first few months as a Trustee?

My fellow Trustees, and everyone involved with the running of the Fund have been extremely accommodating. I would like to especially highlight the Fund’s administration team who have been really supportive, even inviting me to one of their team meetings so I could get to know them personally and gain a better understanding of the great work they undertake on behalf of Fund members.

As you mentioned, one of your motivations for being a Trustee was to understand more about pensions, what support have you had to get you up to speed?

Again my fellow Trustees have been really supportive. Each has found the time to sit down with me and share their views and knowledge of the Fund and the processes currently underway. In addition, I have spent time with a number of our specialist advisers, including Mark Hedges who manages our investments as well as our Fund’s Actuary and Fund lawyer. Each has explained the duties they perform for the Fund and the wider technical detail to further my understanding.

The Pensions regulator (tPR) also has an excellent online training facility for trustees which is made up of a series of modules which combine education with testing your level of knowledge. I was delighted to pass all of these with distinction, that said a couple of the modules took me more than one attempt!

I also have a two-day workshop booked with our Actuarial advisers next year which is more formal, classroom based, training focused on Defined Benefits pension arrangements similar to our Pension Fund. I am very much looking forward to this as it will be attended by trustees from a number of other pension arrangements.

The Trustee has recently concluded the Valuation process, which is undertaken every three years. Were you involved in this at all?

Not directly although I was at the various Board meetings where it was discussed. What is apparent is the way each of the Trustees is very clear about their responsibilities. A number of us, including myself, work for the Society, however it is recognised by all parties that when we act as a Trustee our “day job” should have no bearing on the decisions we make and the questions we ask.

Ultimately the Trustee is responsible for ensuring all the members of the Fund receive the right benefits from the Fund at the right time. It is very clear to me that all my fellow Trustees see the role they perform as critical to ensuring this happens and as a result act in a way to safeguard the members’ best interests.

Sarah thank you for your time. You are clearly enjoying your role as a Trustee.

Yes I am, and when the opportunity to stand for nomination for a Trustee arises again I would recommend members consider taking on what is a very demanding but ultimately very enjoyable role.