Audit and Risk Committee (ARAC) Independent Member

Requirements of the role

More than half the UK working population rely on The Pensions Regulator (TPR) to regulate their retirement savings. With a career at TPR, you’ll be joining an organisation that will impact on millions of lives for decades to come.

Everyone at TPR plays an important role in helping to keep more than £2trn of savings safe. We’re committed to bringing people into TPR who are ready to make a difference and put UK savers at the heart of what we do.

Our new corporate strategy outlines a bold and challenging vision of how pensions regulation should evolve to keep pace with a change in the scale and nature of the industry. We are at the start of that journey. Join us to find out what part you can play.

Role

TPR’s ARAC is a subcommittee of the Board and the Non-Executive Committee. It provides independent oversight, assurance, and advice regarding financial control, risk management and governance. TPR is seeking to appoint an independent member with experience in financial management at a senior level and deep knowledge of one or more of audit (external or internal) or risk oversight to strengthen the expertise and independence of the ARAC and to provide challenge, support and judgement.

The Independent Member will bring external expertise and perspective, supporting the ARAC in its role of reviewing financial and risk-related matters, advising on internal controls, and ensuring that TPR maintains high standards of accountability and governance.

The ARAC is chaired by a non-executive Board member, with two other non-executive Board members as committee members. It is a non-executive committee and has no executive powers other than those specifically delegated within its Terms of Reference, and standards set by HM Treasury, Government and Cabinet Office. The Committee engages particularly with the work of internal audit and TPR’s external auditor (National Audit Office).

Responsibilities

• Provide independent and objective oversight of TPR’s audit, risk, and financial management processes.
• Review financial reporting and both internal and external audit outcomes, ensuring transparency, accountability, and compliance with best practices.
• Engage with internal and external auditors to ensure robust control procedures are in place.
• Advise on risk management frameworks and internal control processes, ensuring they are robust and aligned with TPR’s strategic objectives.
• Challenge assumptions, provide independent judgment, and support continuous improvement in governance and financial oversight.
• Providing assurance on fraud, cyber, procurement and whistleblowing processes.
• Ensuring the effectiveness and value of both external and internal auditors.

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