Non-Executive Director - Financial Services Compensation Scheme (FSCS)
Recruiter: Odgers Berndtson
Posted: 16 Nov 2018
Closes: 14 Dec 2018
Responsibilities: Executive Management, Strategy
Sector: Financial Services
Contract Type: Part-time
c.30-35 days per year
The Financial Services Compensation Scheme (FSCS) is the UK’s compensation scheme for financial services, helping people get back on track by protecting them when authorised financial services firms fail. FSCS is independent, covers all regulated financial services in the UK and is unique internationally for the scope of the protection it provides. The Scheme protects deposits in banks, building societies and credit unions; insurance; investments; investment and pension advice; home finance advice; debt management and related products.
The FSCS has undergone a period of fundamental change following the financial crisis and it is now established as a high profile and trusted part of the financial system in the UK: underpinning public confidence in the system for consumers and business alike.
The board seeks a new Non-Executive Director who can work with the board in its key priority: to provide a trusted compensation service for consumers delivering compensation in a quick and efficient manner. The right candidate will bring extensive experience of the UK retirement savings, pensions and advisory markets. S/he will also contribute to raising public confidence in the financial services industry and the board’s collaboration with the regulators and industry to prevent future failure through the sharing of information and intelligence.
- Contribute to the effective governance of the FSCS’s activities, delivery of its statutory responsibilities and pursuit of its vision and objectives.
- Work with the board to develop an agreed strategy and detailed business plans for FSCS including delivering change and being prepared to respond to future failures.
- Bring expertise and insights into the retirement savings pensions and advisory markets to inform the board’s strategy, future planning and decision making in the sector.
- Help foster FSCS’s active engagement with the sector, including providers, intermediaries, platforms etc.
- A successful track record in leadership roles in retirement and pensions provision and advice. This could have come from experience within a leading provider, intermediary or advisor.
- Candidates need not have had prior main board NED experience.
- Clear understanding of the role and responsibilities of a non-executive director – including those of governance and accountability.
- Experience of regulated environments and a good understanding of what it means to hold a board position in a public organisation.
- Able to grasp a wide range of complex financial issues; excellent communication skills; readiness to listen to the views of others; able to challenge constructively; exceptional judgement; high level of integrity.
- Applications from candidates who are still in the executive phase of their careers would be welcome, subject to agreement from their employer and potential conflicts.