FCA Non Executive Director

Requirements of the role

At the FCA, we’re creating a fair and more resilient financial system. We’re establishing more transparent relationships between financial services and customers, building trust in financial markets and protecting vulnerable consumers.

We’re currently on an exciting journey as we drive forward significant organisational, people, process, and technology transformation to become a more forward-thinking, proactive regulator. We will use data more effectively to drive better regulatory decisions and build greater cohesion across our broad financial services remit.

Significant improvements in digital enablement, business intelligence, market data and information management maturity are all being pursued to maintain our position as a world leader in financial services regulation.

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

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