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Appointment details

Financial Regulators Complaints Commissioner

Summary

• Organisation: Financial Regulators Complaints Commissioner
• Sponsor department: HM Treasury
• Location: London
• Sectors: Public Administration
• Skills: Legal, Regulation, Casework and Complaints Handling
• Number of vacancies: 1
• Time commitment: 3 day(s) per week
• Remuneration: £129000 per annum
• Length of term: 5 years, non-renewable
• Application deadline: 11:59am on 11 September 2023

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Timeline for this appointment

1. Opening date

   3 August 2023

2. Application deadline

   11:59am on 11 September 2023

3. Sifting date

   2 October 2023

4. Interviews expected to end on

   16 October 2023

Timeline dates are only an estimate and can change

About the appointment

Introduction from the Minister

Thank you for your interest in the role of the Financial Regulators Complaints Commissioner.

The Complaints Commissioner is fundamental in providing robust and independent scrutiny of the way the financial services regulators have carried out their roles. 

This is an important moment in the development of the Complaints Commissioner role and the new appointee will be central to this. In recognition of the significance of the Complaints Commissioner to the system of regulatory accountability – and the desire for such accountability to be enhanced - Parliament has made the appointment of the Commissioner a direct Treasury Minister responsibility through the Financial Services and Markets Act 2023. 

This will add an important additional layer of independence to the role and is one of a number of changes designed to ‘beef up’ the Commissioners power and standing, which also include new reporting requirements which will ensure that there is greater transparency about how the regulators respond to the Commissioner’s recommendations. The new Commissioner will therefore have the opportunity to shape the future direction of this newly strengthened role.

Our financial services regulators play an important role in regulating and supervising the financial services industry and their ability to act robustly is important to millions of consumers and businesses across the country. However, it is important that this is balanced against the need to hold the regulators accountable for their actions.

The Complaints Commissioner ensures that complaints about how the regulators have carried out, or failed to carry out, their functions are independently investigated. In 2022-23, the Complaints Commissioner’s office dealt with 421 cases and made 62 recommendations. These recommendations ensure that the regulators are not only being held to account but are also being continually driven to change and improve.

I particularly encourage individuals with a range of professional experience and skills to apply, including those with experience of working in the legal profession, similar professions which demand a high degree of rigor and adherence to due process or those with experience in the financial services sector.

I wish you every success in your application.

Andrew Griffith MPEconomic Secretary to the Treasury 

Appointment description

Key responsibilities of the Financial Regulators Complaints Commissioner

• To decide whether to investigate complaints referred under the Complaints Scheme, in accordance with the Complaints Scheme rules, or otherwise determine whether they can be dealt with in a more appropriate way; 
• Where deemed to be necessary, to conduct a full investigation in accordance with the Scheme; 
• To report to the complainant and the relevant regulator(s) on the decision(s) reached on any investigation conducted, providing reasons for the outcome reached; 
• Where appropriate, to publish the investigation report, or any part of it; 
• Where the complaint is well founded or the Financial Regulators Complaints Commissioner is critical of the regulator(s) concerned, to consider the corrective action proposed by the regulator(s) to be taken in response; 
• To make recommendations to the regulators on remedies; 
• To prepare an annual report for publication reviewing how the regulators consider complaints. This is to be laid before Parliament by HM Treasury. This annual report will include:
• information concerning any general trends emerging from the investigations undertaken during the reporting period; 
• any recommendations which the Financial Regulators Complaints Commissioner considers appropriate as to the steps a regulator should take in response to such trends;
• a review of the effectiveness during the reporting period of the procedures (both formal and informal) of each regulator for handling and resolving complaints which have been investigated by the Financial Regulators Complaints Commissioner during the reporting period;
• an assessment of the extent to which those procedures were accessible and fair, including where appropriate an assessment for different categories of complainant;
• any recommendations about how those procedures, or the way in which they are operated, could be improved;
• such other matters as HM Treasury may from time to time direct. 

Organisation description

Under the Financial Services Act 2012, the financial services regulators are required to maintain a Complaints Scheme which deals with complaints about the way in which they have carried out, or failed to carry out, their functions. The financial services regulators in scope of the Complaints Scheme are the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England (but only in respect of its oversight of the banking clearing houses and payment schemes). 

This Complaints Scheme is overseen by the Financial Regulators Complaints Commissioner who has the powers to investigate complaints made through this Scheme and make recommendations of redress as well as how the regulators can improve. The Financial Regulators Complaints Commissioner also publishes an annual report which is laid before Parliament, containing a detailed analysis of how the regulators deal with complaints. 

The Financial Regulators Commissioner is also able to consider complaints about the UK’s previous financial services regulator, the Financial Services Authority, in relation to its actions or inactions occurring after 1 December 2001. 

The Financial Services and Markets Act 2023 makes HM Treasury responsible for the appointment of the Financial Regulators Complaints Commissioner, rather than the financial services regulators themselves. It also requires the regulators to set out where they have disagreed with the Commissioner’s recommendations as part of their response to the Commissioner’s annual report. 

The current Financial Regulators Complaints Commissioner carries out their duties through a company limited by guarantee (Office of the Complaints Commissioner) from premises based in the City of London. The current Financial Regulators Complaints Commissioner’s term of office ends on 1 November 2023 and this campaign is looking for a candidate to begin immediately following the end of the current Commissioner’s term or as soon as possible after that date. 

For more information about the complaints scheme, please go to http://www.fca.org.uk/your-fca/complaints-scheme 

For more information about the Financial Regulators Complaints Commissioner, please go to https://frccommissioner.org.uk

The Payment Systems Regulator has previously appointed the Financial Regulators Complaints Commissioner to oversee its own separate, voluntary Scheme. The Payments Systems Regulator may ask the successful candidate to oversee this voluntary scheme.  These arrangements will be discussed with the successful candidate in due course.

Person specification

Essential criteria

• A strategic mindset, excellent judgement and strong interpersonal and communication skills; 
• Experience of governance and/or strategic leadership in a significant, complex or changing organisation;
• Experience working with complaints, alternative forms of dispute resolution or compliance.

Desirable criteria

• An understanding of the financial services sector and the financial services regulatory framework; 
• A strong understanding of the law particularly relating to public administration.

Application and selection process

How to apply

Saxton Bampfylde Ltd is acting as an employment agency advisor to HM Treasury on this appointment.

Candidates should apply for this role through their website at www.saxbam.com/appointments using code QTRB.

Click on the ‘apply’ button and follow the instructions to upload a CV and cover letter, and complete the online Diversity and Interests Form and the Conflicts and Political Activity form.

In order to apply you will need to provide:

1. A  Curriculum Vitae which provides your contact details, details of your education and qualifications, employment history, directorships, membership of professional bodies and details of any relevant publications or awards;

2. A supporting statement setting out how you meet the criteria for appointment, as set out in the person specification for the role;

3. Information relating to any outside interests or reputational issues;

4. Diversity monitoring information. This allows us to see if there are any unfair barriers to becoming a public appointee and whether there are any changes that we could make to encourage a more diverse field to apply. You can select “prefer not to say” to any question you do not wish to answer. The information you provide will not be used as part of the selection process and will not be seen by the interview panel;

5. Disability Confident – please state if you want to be considered for the disability confident scheme;

6. Reasonable adjustments - requests for reasonable adjustments that you would like to the application process (if applicable);

Please provide the information at points 3-6 above on the relevant form, or as part of your supporting statement.

The Advisory Assessment Panel reserves the right to only consider applications that contain all of the elements listed above, and that arrive before the published deadline for applications.

Overview of the application process

Public appointments are made on merit following a fair and open competition process which is conducted in accordance with the principles of the Governance Code for Public Appointments. We will deal with your application as quickly as possible and will keep you informed at key stages. We aim to conclude the appointment process within three months of the deadline for applications – this is in accordance with the Governance Code.

The assessment process

1. Ministers are responsible and accountable to Parliament for the public appointments made within their department. As a result, they must be consulted at every stage of the appointments process.

2. An Advisory Assessment Panel (“Panel”) is appointed by Ministers to assist them in their decision making. The role of the Panel is to decide, objectively, which candidates meet the eligibility criteria for the role.

3. At the shortlisting meeting the Panel will assess applications against the eligibility criteria and decide which candidates have best met the criteria, who should be recommended for interview. Ministers will then be consulted on the Panel’s recommended shortlist. If you have applied under the Disability Confident Scheme and you meet all the essential criteria, then you will also be invited for an interview.

4. Once the shortlist has been agreed by Ministers, you will be advised (by e-mail) whether you have been shortlisted. Those shortlisted will be invited to an interview.

5. The Panel will meet again to interview candidates and determine who is appointable to the role. The Panel may invite you to make a brief presentation at the start of the interview and will go on to question you about your skills and experience, including asking specific questions to assess whether you meet the criteria set out for the post. The Panel will also explore with you any potential conflicts of interest or any other issues arising from your personal and professional history which may impact on an appointment decision.

6. Details of the panel’s assessment of interviewed candidates are provided to Ministers, including whether they have judged a candidate to be appointable to the role. It is then for Ministers to determine merit and decide who should be appointed. In some circumstances, Ministers may choose not to appoint any candidates and re-run the competition.

7. Ministers may choose to meet with candidates before deciding the outcome. Candidates should therefore be prepared for a short time gap between interview and a final appointment decision being made. Candidates who have been interviewed will be kept informed of progress.

8. Once the decision on the appointment has been made, interviewed candidates will be advised of the outcome of their application, including whom they may approach for feedback. Successful candidates will be issued with their Terms & Conditions and a letter of appointment should they agree to take up the position.

Further information about appointments, including tips on applying, can be found on our guidance pages on gov.uk.

Advisory Assessment Panel (AAP)

The Assessment Panel will be chaired by John Owen (Director, Financial Services, HM Treasury). The other

Panel members will be Marlene Shiels (CEO of Capital Credit Union) and James Palmer (Partner at Herbert

Smith Freehills).

Advisory Assessment Panels (AAP) are chosen by ministers to assist them in their decision-making. These include a departmental official and an independent member. For competitions recruiting non-executive members of a board (apart from the Chair), the panel will usually include a representative from the public body concerned.

AAP’s perform a number of functions, including agreeing an assessment strategy with ministers, undertaking sifting, carrying out interviews in line with the advertised criteria and deciding objectively who meets the published selection criteria for the role before recommending to ministers which candidates they find appointable. It is then for the minister to decide who to appoint to the role.

Eligibility criteria

In general, you should have the right to work in the UK to be eligible to apply for a public appointment.

There are a small number of specialist roles that are not open to non-British citizens. Any nationality requirements will be specified in the vacancy details.

The Government expects all holders of public office to work to the highest personal and professional standards. 

You cannot be considered for a public appointment if:

• you are disqualified from acting as a company director  (under the Company Directors Disqualification Act 1986);

• have an unspent conviction on your criminal record;

• your estate has been sequestrated in Scotland or you enter into a debt arrangement programme under Part 1 of the Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) as the debtor or have, under Scots law, granted a trust deed for creditors.

When you apply, you should declare if:

• you are, or have been, bankrupt or you have made an arrangement with a creditor at any point, including the dates of this. 

• you are subject to a current police investigation.

You must inform the sponsor department if, during the application process, your circumstances change in respect of any of the above points. 

When you apply you should also declare any relevant interests, highlighting any that you think may call into question your ability to properly discharge the responsibilities of the role you are applying for. You should also declare any other matters which may mean you may not be able to meet the requirements of the Code of Conduct of Board Members (see Outside interests and reputational issues section below)

If you need further advice, please contact Belinda.Beck@saxbam.com

Security clearance

The successful candidate will be required to undertake Baseline Personnel Security Standard checks in line with the Civil Service guidelines. Additional Security Clearance may also be required for certain roles. However, where this applies, candidates will be notified during the appointment process. Further information on National Security Vetting can be found on the Gov.uk website here.

Additional information for candidates

Equality and diversity

We encourage applications from talented individuals from all backgrounds and across the whole of the United Kingdom. Boards of public bodies are most effective when they reflect the diversity of views of the society they serve and this is an important part of the Government’s levelling up agenda.

We collect data about applicants’ characteristics and backgrounds, including information about people’s educational and professional backgrounds, so that we can make sure we are attracting a broad range of people to these roles and that our selection processes are fair for everyone. Without this information, it makes it difficult to see if our outreach is working, if the application process is having an unfair impact on certain groups and whether changes are making a positive difference.

When you submit your application, your responses are collected by the Cabinet Office and the government department(s) managing your application. The data is used to produce management information about the diversity of applicants. You can select “prefer not to say” to any question you do not wish to answer. The information you provide will not be seen by the Advisory Assessment Panel who review applications against the advertised criteria and conduct interviews.

Disability confident

We are a member of the Government’s Disability Confident scheme. We use the Disability Confident scheme symbol, along with other like-minded employers, to show our commitment to good practice in employing people with a disability. The scheme helps recruit and retain disabled people. 

As part of implementing the scheme, we guarantee an interview for anyone with a disability whose application meets the essential criteria for the role, set out in the advert, and who has asked that their application is considered under the scheme. Indicating that you wish your application to be considered under the scheme will in no way prejudice your application. By ‘minimum criteria,’ we mean that you must provide evidence which demonstrates that you meet the level of competence required under each of the essential criteria, as set out in the job-advert.

When you apply you will have the opportunity to select if you would like your application considered under this scheme.

Reasonable adjustments

We are committed to making reasonable adjustments to make sure applicants with disabilities, physical or mental health conditions, or other needs are not substantially disadvantaged when applying for public appointments. This can include changing the recruitment process to enable people who wish to apply to do so.

Some examples of common changes are:

• ensuring that application forms are available in different or accessible formats;
• making adaptations to interview locations;
• allowing candidates to present their skills and experience in a different way;
• giving additional detailed information on the selection / interview process in advance to allow candidates time to prepare themselves;
• allowing support workers, for example sign language interpreters;
• making provision for support animals to attend.

When you apply you will have the opportunity to request reasonable adjustments to the application process.

Principles of public life

Holders of public office are expected to adhere to and uphold the Seven Principles of Public Life. These are:

1. Selflessness - Holders of public office should act solely in terms of the public interest.
2. Integrity - Holders of public office must avoid placing themselves under any obligation to people or organisations that might try inappropriately to influence them in their work. They should not act or take decisions in order to gain financial or other material benefits for themselves, their family, or their friends. They must declare and resolve any interests and relationships.
3. Objectivity - Holders of public office must act and take decisions impartially, fairly and on merit, using the best evidence and without discrimination or bias.
4. Accountability - Holders of public office are accountable to the public for their decisions and actions and must submit themselves to the scrutiny necessary to ensure this.
5. Openness - Holders of public office should act and take decisions in an open and transparent manner. Information should not be withheld from the public unless there are clear and lawful reasons for so doing.
6. Honesty - Holders of public office should be truthful.
7. Leadership - Holders of public office should exhibit these principles in their own behaviour and treat others with respect. They should actively promote and robustly support the principles and challenge poor behaviour wherever it occurs.

Code of conduct for board members

The Government expects all holders of public office to work to the highest personal and professional standards. In support of this, all non-executive board members of UK public bodies must abide by the principles set out in the Code of Conduct for Board Members of Public Bodies. The Code sets out the standards expected from those who serve on the boards of UK public bodies and will form part of your terms and conditions of appointment.

Management of outside interests and consideration of reputational issues

Holders of public office are expected to adhere and uphold the Seven Principles of Public Life and the Code of Conduct for Board Members of Public Bodies. Before you apply you should consider carefully: 

• any outside interests that you may have, such as shares you may hold in a company providing services to government; 
• any possible reputational issues arising from your past actions or public statements that you have made; 
• and/or - any political roles you hold or political campaigns you have supported; 

which may call into question your ability to do the role you are applying for.

You will need to answer relevant questions in relation to these points when making an application. Many conflicts of interest can be satisfactorily resolved and declaring a potential conflict does not prevent you from being interviewed. If you are shortlisted for an interview, the panel will discuss any potential conflicts with you during that interview, including any proposals you may have to mitigate them and record that in their advice to ministers. Alongside your own declaration, we will conduct appropriate checks, as part of which we will consider anything in the public domain related to your conduct or professional capacity. This may include searches of previous public statements and social media, blogs or any other publicly available information. The successful candidate(s) may be required to give up any conflicting interests and their other business and financial interests may be published in line with organisational policies. 

Details of declared political activity will be published when the appointment is announced, as required by the Governance Code (political activity is not a bar to appointment, but must be declared).

Status of appointment

As this is an office holder appointment, you will not become a member of the Civil Service. You will not be subject to the provisions of employment law.

Appointment and tenure of office

Appointments are for the term set out in this advert, with the possibility of re-appointment for a further term, at the discretion of Ministers.  Any re-appointment is subject to satisfactory annual appraisals of performance during the first term in the post. There is no automatic presumption of reappointment; each case should be considered on its own merits, taking into account a number of factors including, but not restricted to, the diversity of the current board and its balance of skills and experience. In most cases, the total time served in post will not exceed more than two terms or serve in any one post for more than ten years

Remuneration, allowances and abatement

Remuneration for this role is treated as employment income and will be subject to tax and National Insurance contributions, both of which will be deducted at source under PAYE before you are paid. 

You can claim reimbursement for reasonable travel and subsistence costs which are properly and necessarily incurred on official business, in line with the travel and subsistence policy and rates for the organisation to which you are applying. However these payments are taxable as earnings and will be subject to tax and national insurance, both of which will be deducted at source under PAYE before you are paid.  

Pension and redundancy

This is an office holder appointment and does not attract any benefits under any Civil Service Pension Scheme. You will not be eligible for redundancy pay as you are not an employee. No other arrangements have been made for compensation upon the end of your term of appointment because an office holder who is appointed for a limited duration would have no expectation of serving beyond that period.

Application feedback

We will notify you of the status of your application. We regret that we are only able to offer detailed feedback to candidates who have been unsuccessful at the interview stage.

How to complain

We aim to process all applications as quickly as possible and to treat all applicants with courtesy.

Please contact the employment agency advisor, Saxton Bampfylde in the first instance if you would like to make a complaint regarding your application at Jonathan.Morgan@saxbam.com. 

Data protection

The Cabinet Office will use your data in line with our privacy policy.

Please see the Departments privacy notice attached below. 

Contact details

If you have any queries concerning your application, please email Belinda.Beck@saxbam.com.

Attachments

• Candidate Pack

• Diversity and Interest Form

• Conflicts and Political Activity Form

• HMT Public Appointments Privacy Notice