Chief Investment Officer (CIO)

Government Property Agency; Bristol; Hybrid; GBP 200,000 +; Full time

Job summary

A UK government agency is seeking a Chief Investment Officer to strategically manage its extensive property portfolio, ensuring optimal performance and alignment with agency objectives. This pivotal role involves financial oversight, investment strategy development, and stakeholder management. The ideal candidate will have extensive experience in property investment and finance, along with strong leadership skills. Join a dynamic team committed to driving sustainability and operational excellence.

Benefits

Commitment to equality and diversity

Opportunities for lifelong learning

Transformational work environment

Qualifications

• Extensive experience in property investment, finance and asset management.
• Proven ability to manage a diverse team and lead at a corporate level.
• Demonstrated ability to collaborate with stakeholders at senior levels.

Responsibilities

• Manage the strategic direction of the GPA's property portfolio.
• Lead the development and implementation of investment strategies.
• Oversee financial performance and stakeholders engagement.

Skills

Property investment experience

Financial acumen with P&L responsibility

Strategic asset management

Stakeholder management

Corporate leadership

Education

RICS, ACCA, or relevant finance qualification

Master of Business Administration (MBA)

Tools

Microsoft Office

Google Workspace

Job description

Location

Birmingham, Bristol, Cardiff, Leeds, London, Manchester, Nottingham

Job summary

The Government Property Agency is the largest property holder in government, with more than £2.1 billion in property assets and over 55% of the government’s office estate.

We are transforming the way the Civil Service works by creating great places to work, leading the largest commercial office programme in the UK, working towards halving carbon emissions from government offices, and achieving greater value for taxpayers. And we are looking for innovative, solutions-focused people to join our team.

Representing the best covenant in the UK – His Majesty’s Government – we are leading significant transformational programmes such as the Government Hubs Programme, Whitehall Campus Programme and Net Zero Programme. We are also delivering cost-effective property services such as asset management, lifecycle replacement and workplace services.

Innovation and progress underpin our behaviours. We foster a culture of lifelong learning, where curiosity and self-improvement are encouraged. Our four core values are at the heart of everything we do. They shape our culture and guide how we work, lead and grow together:

• Striving for excellence- We always aim to deliver great results
• Empowering through respect- We insist on fair treatment for all, always
• Acting with integrity- We consistently do the right thing
• Succeeding together- We rely on each other to achieve success

We are committed to representing the communities we serve by making Equality, Diversity, and Inclusion (EDI) part of everything we do. Our strong emphasis on EDI is not just about driving inclusion across our organisation, it is also about ensuring our services meet the needs of government departments and the civil servants who use our spaces. To ensure that we are always recruiting and retaining a diverse mix of talent, we are particularly inviting applications from candidates who are disabled, ethnically or gender diverse, and people who identify as being part of the LGBTQ+ community.

Join our dynamic and diverse team that leads with purpose, improving sustainability, nurturing social value, driving inclusivity and flexibility, and kickstarting economic growth. We are driven by purpose, and you can be part of it too: where you make a meaningful impact; where you influence; where your voice really matters; where you help to shape our future direction.

Job description

The Chief Investment Officer (CIO) will play a critical role in strategically managing the UK Government Property Agency’s (GPA) extensive property portfolio. The CIO will ensure optimal performance, profitability, and strategic alignment of the property assets in accordance with the GPA's mission and objectives. As a member of the Executive Committee (EXCO), the CIO will contribute to the overall leadership and strategic direction of the agency.

This is a pivotal and highly visible role with substantial strategic, operational performance and leadership responsibilities including of the Property Management Directorate. The Chief Investment Officer (CIO) will report directly to the CEO and will be required to regularly report to the Board and the Cabinet Office sponsor function. This is a critical role accountable for the management and optimisation of the GPA’s property portfolio, investment strategies, asset disposals, and transfers, directly impacting the financial health and strategic positioning of the Agency.

Portfolio Management:

• Aligned closely with the Strategy Director, guided by the workforce planning directions from departments, the CIO will oversee the comprehensive management of the government property estate (currently focused on Offices), ensuring alignment with workforce planning and strategic goals through effective asset management and investment strategies.
• The CIO will support the target cost savings though portfolio rationalisation and efficiencies

Investment Strategy:

• The CIO will lead the appraisal processes and creation of Outline Business Cases (OBCs) for projects in line with best practice, such as the delivery of a new HUB, ensuring that investments are strategically aligned, commercially viable, affordable, vfm and deliverable.
• The CIO, working with CFO, will develop funding strategies for GPA developments and portfolios, working with networks and strategic partners to optimise outcomes for HMG.

SR Planning and delivery:

• Working closely across EXCO, with particular input from the Strategy Director, the CIO will take lead accountability in the financial preparation and delivery of key elements of SR, including the HUBS Programme and London Plan, feeding into the wider SR planning, led by CFO. For as long as the SRO role remains relevant to GPA, the CIO will take that role working with IPA and providing strategic direction to the Director of Programme Management.

Asset and Property Management:

• With oversight of the Strategic Property Partner relationship, the CIO will be accountable for maintaining a complete and accurate Property Management system, with oversight of the property documentation and working with Finance colleagues to assure a seamless budgeting and billing process for departmental client partners.
• The CIO will also oversee the strategic asset management of the portfolio, ensuring that GPA secures the optimal commercial position across each building with third party landlords (where present), whilst optimising total occupation costs for departmental clients, through development of appropriate benchmarks.
• So as to maximise building utilisation, the CIO will oversee the leasing of void spaces and across, but not restricted to, departmental partners.

Financial Oversight:

• With significant P&L responsibility, the CIO will ensure the property assets are delivering against budgetary and benchmark targets. This involves strategic disposals and acquisitions, optimising asset values, and reducing liabilities.

Asset Transfers and Disposals:

• Efficient management of asset transfers from various government departments to the GPA (including due diligence), and strategic disposals of assets, will be key responsibilities. The CIO will ensure these processes are managed with high efficiency and strategic foresight, maximising value accretion for GPA and HMG more broadly.

KPI and Performance Optimisation:

• Utilising key performance indicators and management information systems, the CIO will contribute to the establishment of robust and relevant KPIs and performance data and rigorously analyse and enhance the performance of the property assets.

Stakeholder and Supplier Management:

• The CIO will cultivate strong relationships with various stakeholders, including government departments, local government, financial institutions (HMT), and third-party landlords.

Client Account Management

• Lead client management relationships across a select group of allocated departments, sharing responsibility across EXCO to promote consistency and collaboration.
• Strategically manage and enhance client relationships to drive organisational success and client satisfaction.

Leadership and Strategic Influence:

• As a member of the GPA Executive Committee and SCS community in the civil service, the CIO will play a central role in the leadership of the organisation, fostering an environment of empowerment and mutual trust. The strategic influence of the CIO will crucially shape the Agency’s approach to property investment and asset management.
• The CIO will also be a key ambassador for GPA in the broader property market and will be expected to network whilst maintaining market knowledge.
• Role model GPA values and provide strong leadership within the Directorate and across the Senior Leadership Group and GPA.

ESG and Net Zero

• The CIO will take responsibility for the delivery of Net Zero across the Estate, with oversight of the LCR programme, disposal strategy, and input to design through the Capital Programme Director.

KEY RESPONSIBILITIES

These responsibilities should be read in conjunction with the Job description above

1. Portfolio Management
2. Asset Transfers and Disposals
3. Profit & Loss Responsibility
4. Investment Policy and Project Appraisals
5. Performance Optimisation
6. Leasing of VOID Space
7. Property Transactions Oversight
8. Property and Asset Management
9. Stakeholder Management and Market Ambassador
10. Client Account Management
11. ESG and Net Zero

Person specification

We encourage applications from people from all backgrounds and aim to have a workforce that represents the communities and wider society that we serve. We pride ourselves on being an employer of choice. We champion diversity, inclusion and well-being and aim to create a sense of belonging in a workplace where everyone feels valued. The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan and the Civil Service D&I Strategy.

EXPERIENCE & TECHNICAL SKILLS

Essential

• Extensive experience in property investment, finance, portfolio, and asset management from either the private or public sector.
• Strong financial acumen, including significant P&L responsibilities and experience in strategic disposals and acquisitions.
• Proven experience in portfolio management, with a focus on strategic alignment and cost efficiency
• Excellent corporate leadership skills with the ability to manage and inspire a diverse team.
• Demonstrated ability to collaborate effectively at senior levels and across different stakeholders.
• Demonstrated ability to develop and implement investment strategies and prepare Outline Business Cases (OBCs).
• Experience in strategic asset and property management, ensuring optimal commercial positions and cost efficiencies.
• Excellent stakeholder management and negotiation skills across public and private sectors.
• Demonstrable Digital literacy, with ability to develop and utilise collaborative IT platforms such as Google Workspace or Microsoft Office/Sharepoint and be able to demonstrate productive use of AI tools.

Desirable

• Experience in the PLC, Institutional, public sector, or local government sector, in a role that involves managing assets in a highly governed environment is desirable
• Track record as CIO or similar role

QUALIFICATIONS AND ACCREDITATIONS

Essential criteria:

1. Significant senior Professional Experience in Property Investment, Portfolio and Asset Management, or Financial
2. RICS, ACCA, orother relevant property/Finance qualification

Example qualifications:

• Chartered Financial Analyst (CFA)
• Chartered Alternative Investment Analyst (CAIA)
• Association of Chartered Certified Accountants (ACCA)orInstitute of Chartered Accountants in England and Wales (ICAEW)
• Master of Business Administration (MBA)
• Membership with Professional Bodieslike the Chartered Institute for Securities & Investment (CISI), the CFA Society, Investment Property Forum (IPF)

Behaviours

We'll assess you against these behaviours during the selection process:

• Managing a Quality Service
• Communicating and Influencing
• Leadership
• Delivering at Pace

Technical skills

We'll assess you against these technical skills during the selection process:

• Customer Perspective
• Commercial Acumen
• Property Market Knowledge
• Innovation

For more information and to apply, please click the apply button below.