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Non-Executive Directors
4 weeks ago
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 role
The FCA Board maintains oversight of the organisation’s operations, and holds the FCA Executive to account. The Board comprises Non-Executive Directors and the Chief Executive. It has several committees to which it delegates certain functions and powers.
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
- Develop, promote and act at all times in the best interests of the FCA
- Develop, monitor, and hold the Chief Executive and executive team to account for the FCA’s performance and strategic direction
- Apply a constructive style in scrutinising and challenging management recommendations at Board level, respecting the boundary between non-executive and executive responsibility
- Apply relevant knowledge and expertise to the Board’s debates and decision making
- Assist in maintaining positive working relationships with the FCA’s key senior stakeholders
Essential skills and experience
- A strategic mindset, excellent judgement, and strong interpersonal and communication skills.
- An appreciation of the role played by financial services regulation in enhancing market integrity, protecting consumers, and promoting effective competition in the interests of consumers.
- Experience of governance and/or strategic leadership in a significant, complex, or changing organisation.
For further information and details on how to apply, please visit www.odgers.com/92396
The closing date for applications is 23:59, Sunday 3 November 2024.