Non Executive Treasury Committee Member recruitment opportunity
Clarion is the UK’s largest Housing Association, providing affordable homes to rent and buy, and supporting communities across the country. We are currently looking for an Independent Treasury Committee Member for our Group Treasury Committee.
Clarion’s Treasury function
Clarion is primarily debt funded, and it is important that it remains an attractive proposition for funders and investors.
As at September 2025, the business had £5.6 billion of committed and fully secured debt facilities of which £4.6 billion were drawn. Of the total facilities, 58% were sourced from the debt capital markets and 42% from bilateral facilities with 10 relationship banks.
During the past financial year 2024/25, the business successfully raised a £250 million, 33-year sustainable bond issue under its updated sustainable housing finance framework. This issue was well received by the market, with strong investor appetite leading to it being 3.3 times oversubscribed.
The group maintains a prudent approach to interest rate risk management and operates a policy of hedging 70% to 100% of its net debt using a mixture of fixed rate borrowings and a c.£1bn interest rate swap portfolio. As at September 2025, 89% of debt was at fixed rates. Re-financing risk is also prudently managed with over 70% of the Group’s total debt facilities maturing after 5 years.
The Group holds the highest “V1” rating from the regulator for financial viability and is committed to maintaining a strong investment grade credit rating. It is currently rated by Moody’s at A3 with a stable outlook, by Standard & Poor’s at A- with a stable outlook and by Fitch at A+ with a negative outlook.
The Treasury function is managed by an experienced team under the supervision of the CFO. Clarion was the first Housing Association to issue debt in the capital markets, the first to establish a sustainable housing finance framework in 2019, and is the largest Sterling issuer in the sector, with more than £3bn in issue. This equates to being in the top 35 Sterling issuers globally.
Role and experience
Candidates should have experience in some or all of the following areas:
- current or recent financial markets experience gained from either a debt advisory or a treasury role (ideally 8-15 years’ experience) and/or credit rating agency experience
- direct involvement in debt issuance or refinancing, including bonds, loans, private placements or similar instruments
- ownership of financial analysis, structuring or execution within a treasury, DCM or structured-finance context
- experience presenting to credit, investment, or asset–liability committees (ALCOs)
- interaction with, and ideally relationship-building with, credit rating agencies
- a strong understanding of: debt capital markets and funding structures (including ESG / sustainability-linked financing), covenants and covenant headroom, cash/liquidity management and stress testing, interest-rate risk and hedging strategies
- the ability to constructively challenge treasury strategy, assumptions and risk appetite, drawing on professional experience and sound judgement
This role would suit candidates with strong, current financial markets or treasury expertise who are seeking their first formal governance appointment within a regulated organisation. Previous board or committee experience is not required.
Candidates should demonstrate a clear motivation aligned with the organisation’s social purpose and an appreciation of the responsibilities associated with operating in a regulated housing environment.
We particularly welcome applications from candidates who will bring diverse perspectives, including those from groups under-represented in finance and treasury.
Time commitment: 5 meetings a year (approximately 25 hours per year) with opportunities to join in with Clarion wide events such as site visits.
Fees: £9,000 per annum.
Location: meetings are held in person at our offices in London
If you are interested in this opportunity, please submit your CV to boardrecruitment@clarionhg.com. Applications will be reviewed on a rolling basis.