The UK has one of the most competitive, innovative and dynamic financial services sectors in the world. The sector is one of the UK’s greatest assets, and the FCA is a crucial component of the UK’s international-respected regulatory architecture for financial services.
HM Treasury wishes to appoint two Non-Executive Directors to contribute to the important work of the FCA Board. This is an opportunity to take on a wide-ranging and intellectually stimulating role at a large, internationally respected, and complex organisation.
Thank you for your interest in the role of Non-Executive Director of the Financial Conduct Authority (FCA).
The FCA’s operational objectives are to protect the integrity of the UK financial system, protect consumers from bad conduct and promote effective competition in the interests of consumers. It now has a secondary objective to facilitate the international competitiveness and the medium to long term growth of the UK economy.
The FCA is at the forefront of ensuring UK financial services operate in an environment where harm is prevented, and positive innovation is supported. We are accountable to Parliament but operate independently, in the public interest.
The FCA is the conduct regulator of nearly 45,000 firms, prudential supervisor of around 44,000 firms and specific standard setting authority of 17,000 firms. Its actions have a profound effect on people’s daily lives, and directly and continuously shape UK and global financial markets, and the wider economy.
A large operational organisation, the FCA’s work covers the breadth of financial services in the United Kingdom, from international wholesale banking and market infrastructure to consumer credit and pensions, and includes authorisation, supervision and enforcement activity.
The FCA has seen significant additions to its remit, an extension of its external accountability and an expansion of its statutory objectives following the enactment of the Financial Services and Markets Act 2023. The FCA is pursuing the multi-year programme to replace assimilated EU law with its tailored financial services regulation to UK markets. It has also published our first report on how the FCA is working to deliver its secondary international competitiveness and growth objective in line with its increased accountability mechanisms. These items in addition to the implementation of the Consumer Duty, a key consumer protection regulation, highlight the FCA’s role in contributing to the health and success of the UK financial services sector.
The FCA has entered its final year of our Strategy 2022-2025 which sets out how we will achieve our objectives with a focus on three key areas - reducing and preventing serious harm, setting and testing higher standards and promoting competition and positive change. Work is now underway on the design of the FCA’s Strategy from 2025.
The Non-Executive Director role is a demanding position that requires great judgement, integrity, and independence, but offers the opportunity to help bring about lasting, positive change in an essential market. I hope that a diverse range of people with the skills, experience, and sense of public purpose that this role requires will apply.
I wish you every success in your application.
Ashley Alder
Chair
Key responsibilities of the Board
- Develop the strategic direction of the organisation in pursuit of its statutory objectives;
- Scrutinise the performance of the organisation in meeting agreed goals and objectives;
- Oversee the delivery of the FCA’s multi-year transformation programme;
- Hold the Chief Executive and the executive team to account and provide appropriate challenge;
- Demonstrate and uphold the FCA’s commitment to equality, diversity and inclusion;
- Ensure that the regulatory powers and responsibilities specifically reserved to the Board by legislation are exercised appropriately;
- Ensure appropriate policies are in place to manage risks to the organisation’s operations and the achievement of its strategic objectives;
- Debate and take specific decisions which are of such significance as to be required to be taken by the Board;
- Maintain a sound system of financial control;
- Approve the annual budget of the FCA, the Payment Systems Regulator, the Financial Ombudsman Service and the Financial Services Compensation Scheme.
Key responsibilities of Non-Executive Directors
More information about the Board and the governance of the FCA can be found in our
Corporate Governance Document.The FCA is an independent regulator with the strategic objective of ensuring that the UK’s financial markets function well. To do this, the FCA regulates the conduct of nearly 45,000 businesses, prudentially supervise around 44,000 firms and set specific standards for nearly 17,000 firms.
The FCA works alongside the Prudential Regulation Authority (PRA) and the Bank of England to regulate financial services in the UK.
The FCA is made up of a number of divisions, including Supervision, Policy and Competition, Enforcement and Market Oversight, Authorisations and Operations, that work together to deliver its objectives.
The FCA Board maintains oversight of the organisation’s operations and holds the FCA Executive to account. The Board comprises of Non-Executive Directors and the Chief Executive. It has several committees to which it delegates certain functions and powers, including:
- Audit Committee;
- Risk Committee;
- People Committee;
- Policy and Rules Committee;
- Oversight Committee; and
- Regulatory Decisions Committee.
Further information can be found at the following links:
About the FCA and our objectives
Our strategy 2022-25
Annual Report and Accounts 2023/24 (fca.org.uk)
Business Plan 2024/25 | FCA
This post is regulated by the Commissioner for Public Appointments. For more information, please refer to the
Commissioner’s website 