Financial Policy Committee - External Members

HM Treasury
£93,920 p.a.
09 Aug 2018
30 Sep 2018
Sally Springbett
Contract Type

The Bank of England is the central bank of the United Kingdom. Standing at the centre of the UK's financial system, the Bank is committed to promoting and maintaining monetary and financial stability. The Financial Policy Committee (FPC) of the Bank of England has responsibility for formulating macroprudential policy.

The FPC consists of thirteen members - the Governor, the Deputy Governors, the Chief Executive of the Financial Conduct Authority, the Bank’s Executive Director for Financial Stability Strategy and Risk, five external members appointed by the Chancellor, and a non-voting member from HM Treasury.

The two External Member roles are high profile and influential roles and potential candidates will have operated at a very senior level in financial markets, a policymaking environment or academia and will have a combination of the following attributes:

  • Strong and practical financial sector knowledge, particularly in banking and markets, in order to make informed macroprudential decisions
  • Excellent interpersonal and communication skills – able to communicate with complete credibility in the markets and the media, and with the ability to defend decisions under pressure and to explain policy decisions to the public
  • Integrity, with the ability to maintain discretion and engender trust with a willingness to abide by necessary conflict of interest constraints
  • A solid understanding of economics.
  • Analytical, with the ability to absorb large amounts of complex information and reach reasoned and robust conclusions
  • Independence of thought – able to exert influence within the Bank, FPC and in wider external policy debate and comfortable forming personal views whilst working closely and constructively with FPC members.
  • A strong understanding of operational risk, including cyber risk.

External FPC members are appointed on a part-time basis averaging a minimum of 23 days a quarter.  External appointments to the FPC are for a three-year term.  There is the possibility of reappointment at the end of the term and external FPC members can serve a maximum of two terms.  Total compensation will be £93,920 p.a.

HMT is committed to diversity and providing equal opportunities for all.  Applications are therefore welcome irrespective of age, gender, ethnicity, sexual orientation or disability.

If you are interested in receiving a copy of the role description (with details of the application process), please click "Apply" or, for further information, visit the Centre for Public Appointments website.  Applications must be received by 2300 BST on 30 September 2018.  For any questions, please call Sapphire Partners on +44 (0)20 7292 9970.  

Panel interviews will take place in London and are expected to be conducted in early November.  It is anticipated that appointments will be made during Q1 of 2019.


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