Chair, Financial Conduct Authority and Payments Systems Regulator
- Body
- Financial Conduct Authority
- Appointing Department
- HM Treasury
- Sector
- Business, Finance & Skills
- Location
- London
- Skills required
- Business / Commercial
- Number of Vacancies
- 1
- Remuneration
- A competitive fee will be offered, commensurate with the role.
- Time Requirements
- The estimated total commitment is approximately three days per week. In general, the nature of the role will require flexibility as to the commitment, given the demands of regulation in a high-profile and fast-moving industry.
Campaign Timeline
-
Competition Launched
04/09/2017
-
Closed for Applications
Closing date extended to 20th October 17:00
-
Panel Sift
26/10/2017
-
Final Interview Date
17/11/2017
-
Announcement
05/01/2018 at 00:00
Announcement
An announcement has been made on the outcome of this appointment.
Charles Randell CBE has been appointed as the Chair of the Financial Conduct Authority, effective from 1st April 2018
Date: 05/01/2018
Assessment Panel
- Panel Member
- Charles Roxburgh
- Added
- 31/08/2017
- Panel Role
- Panel Chair
- Positions
- Second Permanent Secretary, HM Treasury Departmental Official
Show more information
| Political Activity | - |
|---|---|
| Notes | - |
- Panel Member
- Baroness Hogg
- Added
- 31/08/2017
- Positions
- Senior Independent Director, FCA Representative of Organisation
Show more information
| Political Activity | - |
|---|---|
| Notes | - |
- Panel Member
- Robert Swannell
- Added
- 31/08/2017
- Positions
- Senior Independent Panel Member
Show more information
| Political Activity | - |
|---|---|
| Notes | - |
Vacancy Description
The UK Government’s aim for the UK financial services sector is that it should be the best regulated in the world, with markets of unquestioned integrity and the highest standards of conduct. The Financial Conduct Authority (FCA)’s objectives are to secure appropriate protection for consumers, to promote and enhance the integrity of the UK financial system, and to promote effective competition in consumers’ interests. It does that by regulating the conduct of more than 56,000 businesses. It is also the prudential regulator for many of these businesses and oversees the UK Listing Authority. The Payment Systems Regulator (PSR), which is an independent subsidiary of the FCA, is the economic regulator for the payment systems industry in the UK.
As the term of the current Chair is concluding, HM Treasury is seeking to appoint an exceptional non-executive Chair of the FCA to lead the Board and work closely with the Chief Executive. The appointment will be for an initial period of five years commencing on 1 April 2018. It is intended that the successful candidate will also chair the PSR.
This is an opportunity to take on an intellectually demanding role at the heart of international financial services, making a significant contribution to the effective functioning of the UK economy and the protection of consumers at a time of unprecedented change.
Person Specification
Candidates for this challenging role should have experience of chairing the board of a significant and complex organisation, or considerable experience on such a board, probably in a non-executive capacity. Commercial experience and considerable knowledge of the financial services industry is important; prior experience of payment systems, competition or consumer affairs would be attractive. Overall, candidates should be able to demonstrate experience and standing commensurate with a role of this nature within a prominent regulator.
In particular, the next Chair needs to demonstrate:
- Undisputed integrity, standing, authority and discretion
- Intellectual strength and an inquisitive mindset
- Political sensitivity and sound judgment
- The ability to work constructively with others as part of a senior team and to communicate with them effectively
- An independent approach and an appreciation of the role of a regulator
- The ability to think strategically
- The capacity to work under close political, public and press scrutiny
- Commitment to regulation in the pursuit of consumer protection, market integrity, and effective competition in the interest of consumers
- Ability to build effective relationships and collaborate successfully at the highest levels of business and government
- Resilience in the face of resistance and competing interests
Additional Information
Diversity & Equality
HM Treasury has a strong commitment to diversity and equality of opportunity. It is committed to appointing a diverse, talented and high-performing FCA board and welcomes applications from candidates irrespective of their background, gender, race, sexual orientation, religion or age, providing they meet the required criteria. Both HM Treasury and the FCA are signatories to the Women in Finance Charter and applications from women and BME candidates in particular are encouraged.
Political Activity
The political activity of a successful candidate for a public appointment, in so far as it is already in the public domain, is published on announcement of the appointment. Neither activity nor affiliation is a criterion for an appointment.
Ethics
Individuals appointed to the roles must demonstrate a commitment to, and an understanding of, the value and importance of the principles of public service of public service. These principles are: Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty and Leadership.
Conflicts of interest
Due to the nature of the role, successful candidates will need to balance any of their other activities with the need to demonstrate sufficient independence in the role. This may have an impact on other appointments they can hold and, as such, it is important that prospective candidates make clear any other commitments they have or are likely to undertake.
Candidates will need to demonstrate that they do not have other interests likely to conflict with their responsibilities as Chair of the FCA and PSR. They should declare any potential conflict of interest as early as possible in the selection process and also disclose information or personal connections that, if appointed, might be open to misperception. Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) should they be successful in their application. The application pack provides information on conflicts to help applicants evaluate whether or not they have a potential conflict.
How to Apply
Please apply for an application pack to fca@zygos.com or call 020 7881 2900.