## Apa Organisation Chart Supporting Narrative

The APS was set up early in 2009 and was initially staffed largely by secondees. Since the formal launch of the APA on 7th December 2009, we have been recruiting to reach the full budgeted staffing levels. As at 30 June 2010 there were 15 vacancies still outstanding.

Due to the specialist technical nature of the roles within the Agency, there is no hierarchical grading structure below SCS level. For the purpose of the organogram the posts have been split into three generic categories below SCS2 level (Director equivalent), these are: Director at SCS1 grade (equivalent to the standard Civil Service grade of "Deputy Director"); Manager (equivalent to the standard Civil Service grades 6/7); and Support Staff.

Staff are remunerated according to the nature of their role, therefore there are no structured pay bands. In order to secure suitably qualified and experienced individuals, the APA has had to pay at least a moderate proportion of their market salaries to its specialist staff, however, no pension entitlement is included in their remuneration package. Salary costs of the APA are recovered in full from RBS (refer to APA Annual Report and Accounts 2009-10). In addition, due to the relatively temporary nature of the Agency, all staff other than the CEO and CFOO are Fixed Term Appointments. In the organisation charts on the following pages the resource costs have been given for each of the four APA teams, other than for the Legal and Compliance team which comprised fewer than five people at 30 June 2010 and has been combined with the Finance and Operations team.

## Apa

*    Part-time **  APA does not pay pension contributions in respect of the                    
individuals receiving these salaries

## Investment Management Team Risk Team

*Note: This includes 2 FTE Government Actuarial Department secondees who are not on the APA
payroll and 1 FTE interim, the cost of these three individuals is not included in the salary total.

## Legal & Compliance Team

*Note: This role is performed by a secondee from an external law firm who is not on the APA payroll, the cost of the secondee is not included in the salary total.

## Finance And Operations Team

(Refer to  footnote * on page 5) 

Name
Grade
Job title
FTE
Parent Department
Organisation
Unit
Actual pay band 
Notes
Jens Bech
SCS 2
Chief Risk Officer
1.0
H M Treasury
APA
Risk
165,000 - 169,999
No pension entitlement.
Hamish Buckland
SCS 2
0.4
H M Treasury
APA
CEO Office
65,000 - 69,999
Part time - 2 days per week. No 
pension entitlement.
Chief Credit Officer - Leveraged / Corporate 
Finance
Ion Dagtoglou
SCS 2
Chief Investment Officer
1.0
H M Treasury
APA
Investment Management
165,000 - 169,999
No pension entitlement.
Bill Dickinson
SCS 2
Chief Financial and Operating Officer
1.0
H M Treasury
APA
Finance and Operations
140,000 - 144,999
No notes.
Cynthia Parker
SCS 2
Chief Credit Officer - 
Structured Products
1.0
H M Treasury
APA
CEO Office
160,000 - 164,999
No pension entitlement.
Brian Scammell
SCS 2
Chief Credit Officer - Commercial Real Estate
0.8
H M Treasury
APA
CEO Office
130,000 - 134,999
Part time - 4 days per week. No pension entitlement.
Stephan Wilcke
SCS 2
CEO
1.0
H M Treasury
APA
CEO Office
150,000 - 154,999
No notes.
Post unique reference
Name
Grade
Job title
Job/Team Function
Parent Department
Organisation
Unit
Salary Cost of Reports *
Contact Phone No.
Contact E-mail
Reports to (Post Unique Ref)
Notes
H M Treasury
APA
Operations
-
0207 877 3400
correspondence@apa.gsi.gov.uk
18231
17016
Bill Dickinson
SCS 2
Chief Financial and 
Operating Officer
Head of Operational functions, including 
Finance and HR.  The post holder sits on the Advisory Board of the APA.
18231
Stephan Wilcke
SCS 2
CEO
H M Treasury
APA
CEO Office
-
0207 877 3400
correspondence@apa.gsi.gov.uk
Executive Head of the APA responsible for the strategic direction of the Agency. Reporting to 2nd Perm Secretary, HM Treasury
17019
Ion Dagtoglou
SCS 2
Chief Investment Officer
H M Treasury
APA
Investment Management
-
0207 877 3400
correspondence@apa.gsi.gov.uk
18231
Head of Investment Management Team, responsible for reviewing the Participant Bank's compliance with the Scheme rules, asset management performance and individual asset decisions.  The post holder sits on the Advisory Board of the APA.
17015
Jens Bech
SCS 2
Chief Risk Officer
H M Treasury
APA
Risk
-
0207 877 3400
correspondence@apa.gsi.gov.uk
18231
Head of Risk Team, responsible for portfolio loss forecasting,  APS valuation and awarding loss credits.  The post holder sits on the Advisory Board of the APA.
H M Treasury
APA
CEO Office
-
0207 877 3400
correspondence@apa.gsi.gov.uk
18231
Part time - 4 days per week
17018
Brian Scammell
SCS 2
Chief Credit Officer - 
Commercial Real Estate
Responsible for making credit and disposal decisions and leading credit analysis in the 
subject area.  The post holder sits on the Credit Committee.
17017
Hamish Buckland
SCS 2
H M Treasury
APA
CEO Office
-
0207 877 3400
correspondence@apa.gsi.gov.uk
18231
Part time - 2 days per week
Chief Credit Officer - Leveraged / Corporate Finance
Responsible for making credit and disposal decisions and leading credit analysis in the subject area.  The post holder sits on the Credit Committee.
H M Treasury
APA
CEO Office
-
0207 877 3400
correspondence@apa.gsi.gov.uk
18231
18135
Cynthia Parker
SCS 2
Chief Credit Officer - Structured Products
Responsible for making credit and disposal decisions and leading credit analysis in the subject area.  The post holder sits on the Credit Committee.
-
Vacancy
SCS 2
General Counsel
H M Treasury
APA
Legal and Compliance
-
0207 877 3400
correspondence@apa.gsi.gov.uk
-
Post currently filled by secondee
Head of Legal and Compliance team, responsible for the provision of legal advice and governance and compliance support for all APA activities.  The post holder sits on the Advisory Board of the APA.
-
-
-
Investment Management Team
H M Treasury
APA
Investment Management
£1,007,000
0207 877 3400
correspondence@apa.gsi.gov.uk
-
Reporting to the Chief Investment Officer, responsible for analysing and presenting for internal approval a broad range of requests referred to the APA by RBS; 
actively monitoring RBS's management of 
the APS portfolio to ensure RBS adheres to the terms of the APS.
-
-
-
Risk Team
H M Treasury
APA
Risk
£690,000
0207 877 3400
correspondence@apa.gsi.gov.uk
-
Reporting to the Chief Risk Officer, responsible for analysing the risk of the portfolio of assets covered by the Asset Protection Scheme.
-
-
-
H M Treasury
APA
Finance & Operations Team and Legal & Compliance Team **
The Finance and Operations team are responsible for both the smooth and efficient day to day running of the finance and operations functions of the Agency as well as ensuring reconciliation and control of asset level data from RBS.  The Legal and Compliance team are responsible for the provision of legal advice and governance and compliance support for all APA activities.

* 'Salary Cost of Reports' includes permanent and Fixed Term Appointment employees ** As the Legal & Compliance team comprised fewer than 5 people at 30 June 2010, it has been combined with Finance and Operations

| £626,095                      |
|-------------------------------|
| correspondence@apa.gsi.gov.uk |
| -                             |
| Finance &                     |
| Operations/Legal &            |
| Compliance                    |
| Parent Department   | Organisation      | Grade         |
|---------------------|-------------------|---------------|
| Average             |                   |               |
| salary *            | Generic Job Title | FTE           |
| H M Treasury        | APA               | Support Staff |
| H M Treasury        | APA               | Manager       |

* Average salary of permanent and fixed term appointment employees The table above provides information for the APA overall.  As there is no hierarchical grading structure below SCS level we have disclosed average salaries within the two generic categories - Manager and Support Staff.