Announcements (Archive)

Non-Executive Director to the Board of the Financial Conduct Authority

• Body: Financial Conduct Authority
• Appointing Department: HM Treasury
• Sectors: Business, Finance & Skills, Regulation
• Location: London
• Skills required: Regulation
• Number of Vacancies: 3
• Remuneration: Salary of £35,000 per annum (p.a.), with an additional £10,000 p.a. if individual chairs a Board Committee
• Time Requirements: The estimated total commitment is approximately 50 days per year, to include attendance at Board and Committee meetings (around 2 to 3 days per month), preparation time and other ad hoc engagements. 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

1. Competition Launched

   21/09/2018

2. Closed for Applications

   28/10/2018

3. Panel Sift

   26/10/2018

4. Final Interview Date

   26/11/2018

5. Announcement

   04/03/2019

Announcement

An announcement has been made on the outcome of this appointment.

Consumer expert Richard Lloyd has been appointed as a Non-Executive Director to the board of the FCA

Date: 04/03/2019

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Assessment Panel

• Panel Member: Charles Randell
• Panel Role: Panel Chair
• Positions: FCA Chair Representative of Organisation

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• Panel Member: Gwyneth Nurse
• Positions: Director, Financial Services, HM Treasury Departmental Official

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• Panel Member: Tim Jarvis
• Positions: Director, Consumer and Competition Policy, BEIS Departmental Official

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Political Activity	-
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• Panel Member: Baroness Sarah Hogg
• Positions: Non-Executive FCA Board member Representative of Organisation

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Political Activity	-
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• Panel Member: Jayne-Anne Gadhia
• Positions: CEO, Virgin Money plc Senior Independent Panel Member

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Vacancy Description

The Government is seeking to appoint up to three Non-Executive Directors to the Board of the Financial Conduct Authority. These appointments are to fill vacancies which arise from the retirement in 2018 of one of the Directors and anticipated retirements in 2019 as Directors complete their normal maximum terms. In accordance with the Financial Services Act 2012, one of these appointments will be made jointly by the Treasury and the Department for Business, Energy & Industrial Strategy, with a further two appointments made solely by the Treasury.

Person Specification

These vacancies are senior roles requiring people with the necessary skills to assist the Chair in providing strategic leadership and oversight of the FCA and in supporting and positively challenging the FCA’s senior executives.  The FCA’s work is highly varied and engages with people and firms throughout the UK: the Board seeks to reflect that diversity in its composition. Candidates with non-executive director and/or senior executive experience in the private, public and/or not-for-profit sector (including those for whom this would be a first board appointment) are encouraged to apply.

Essential Criteria

Candidates for these roles will need to demonstrate:

• A strategic and dispassionate mindset with excellent listening, influencing and communication skills;
• A constructive style in scrutinising management recommendations where necessary;
• Intellectual capacity and inquisitiveness;
• A demonstrable understanding of, and concern for, consumer issues in financial services;
• A strong commitment to the principles of public service.

Desirable Knowledge or Experience

Some or all of the following criteria are also desirable:

• A good understanding of the financial services sector, possibly but not necessarily obtained through working in the industry and/or experience gained in other fields such as competition economics, policy or law and consumer affairs;
• Experience of governance and/or strategic leadership in a significant, complex organisation;
• An ability to build effective relationships and collaborate successfully at the highest levels within business and government;
• Digital technology experience and an appreciation of the impact of technological change on the FCA’s future plans and objectives;
• A track record of sound judgement, and the ability to apply common sense and tact;
• For one of the vacancies, senior financial management or accounting experience in order to chair or be a member of the Audit Committee.

How to Apply

To apply please submit your full application by emailing isabelle@audeliss.com.

For further information on how to complete your application, please see the Candidate Prospectus.