Find out first hand, what it’s like being a professional trustee at PTL from Steve Carrodus:
What do you do?
I am a director of Pitmans Trustees Ltd (PTL)
Great…but what does that really mean?
As well as sitting on the board of PTL I act as a client director responsible for providing trusteeship services to a portfolio of clients. Some are DB schemes, some are DC. Many are closed to new members and some to future accrual. In a few cases the scheme is in the process of winding up or transferring to PPF or FAS. For some, PTL is the sole trustee and for others we act as a trustee alongside other trustees (for a number of these I chair the trustee body). Included in my portfolio is one major DC mastertrust and I sit on two Independent Governance Committees (for providers of contract based workplace pensions).
As a client director the major part of the role is attending trustee or IGC meetings. I have support in the office from our managers for work outside meetings.
What are the most interesting aspects of your role?
Chairing a trustee meeting is the most interesting part of my job. There are a number of skills needed to chair a meeting with a range of experience and skillsets around the table and receiving presentations and advice from advisers. As well as the technical ability to understand and question advice there are soft skills required.
What skills/qualifications do you need to be a Client Director at PTL?
Client directors at PTL must have a recognised qualification relevant to pensions, whether that is a PMI qualification, actuarial, legal or investment related. My qualification is the FPMI. In addition, client management and people skills are important.
What sets PTL apart from other firms of Professional Trustees?
The PTL team is pragmatic, personable and professional. As a trustee we like to make a difference, which means getting things done to reduce risk, improve security for members in DB schemes and improve member outcomes in a DC context.
Steve has 39 years experience in the corporate pension and employee benefit market and has been involved in trusteeship work since 1991. He has worked for a number of major pension consulting firms and was involved in the formation of a new consultancy in the late 1980’s. Steve served for four years on the Council of the Pensions Management Institute, during which time he served on a number of the Institute Committees. Steve has also been involved in speaking at a number of technical seminars for clients and at trustee training courses.