Freelance Consultant – Coordination and Development of Reporting Framework
Job Description
The United Nations-backed Principles for Responsible Investment Initiative (PRI) is a network of international investors working together to put the six Principles for Responsible Investment into practice.
The Principles were devised by the investment community. They reflect the view that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios and therefore must be given appropriate consideration by investors if they are to fulfil their fiduciary (or equivalent) duty. The Principles provide a voluntary framework by which all investors can incorporate ESG issues into their decision-making and ownership practices and so better align their objectives with those of society at large.
The PRI Initiative was created after the launch of the Principles to help investors to implement the Principles. The Initiative is managed by the PRI Secretariat and supports investors by sharing best practice, facilitating collaboration and managing a variety of work streams. The Initiative is incorporated as a not-for-profit company limited by guarantee. We are associated with PRI Foundation which is currently seeking registration as a charity in England. PRI Foundation will be undertaking purely charitable activities which benefit the public in relation to education, environmental, social and corporate responsibility and the advancement of citizenship and community development
The role (12 months) involves supporting the PRI Reporting and Assessment team in defining a new reporting framework for the PRI signatories to be launched in Q2 of 2012. The objective is to have a reporting framework and survey in place which would replace the existing PRI survey (see current system here http://www.unpri.org/reporting/). It would be mandatory for all PRI investor signatories and result in a published report on the PRI website for each signatory, as well as being used as a reporting framework for signatories to report to their own clients, members, beneficiaries and stakeholders. The goal is for this reporting framework to become a standard for the investment industry overall in reporting on its approach to stewardship and the incorporation of ESG issues. This consulting role will have responsibility for managing the consultation process and support in development of various drafts of the framework, with a final version being released in December 2011 for IT development. The role will also help develop the support documentation to be supplied to signatories in early 2012 in advance of the new survey in May 2012.
While the final process and timeline will be determined with the chosen consultant but the main steps are the following:
- Phase 1: Process design and development of a first draft
- Phase 2: Technical committee in person meeting and Open consultation
- Phase 3: Final adjustments of framework
- Phase 4: Communication and IT development.
Activities include:
- Finalising the processes, terms of references and timing of the reporting framework development.
- Advising the Assessment and Reporting team on the design of the PRI reporting framework
- Coordinating the consultation process, organizing meeting and collecting feedback from an expert group as well as from the broader signatory base.
- Running in person meetings in London with a technical committee – expected to be held between April and July 2011.
- Providing advice on assurance and benchmarking. If approved, coordinate the feedback and design process for these elements.
Requirements
Firms or individuals interested in the project may participate presenting the CV of one or maximum two people. The direct participation of the individuals presented in any proposal is a precondition for project implementation. If more than one person is involved, please specify the activities each individual would be involved in and the percentage of time expected for each. Below is a list of experience looked for by the individuals assigned to the project.
- Experience in coordinating/managing consultation processes, preferably regarding reporting, industry indices or standards.
- Ability to relate to and engage with a wide range of investment professionals from different regions.
- Understanding of responsible investment issues, activities and approaches
- Experience and/or knowledge of the financial markets and specifically of the asset management industry, preferably in a role which involved review and/or the selection of investment managers.
- Experience in developing reporting frameworks, questionnaires, or rating tools
- Tact and diplomacy
The timing requirements will be determined in details with the chosen consultant, but we do expect this to be a significant time commitment for the coming 12 months, though there will be periods where the work-load will be higher and lower.
How to Apply
Please contact Lorenzo Saa at +44 (0) 753 1211 32, or email Lorenzo if you have any specific questions. Please also send any proposal to this account highlighting your expertise and including the CV of the individual(s) that would run the project. Please also indicate the expected percent of full time equivalent time assigned to the project. There is no deadline for submission and participation. However, as soon as a limited set of suitable individuals or firm is identified, the PRI will assign the project.
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