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 current CEO will stand down next year, after successfully leading the organisation through a period of fundamental change following the financial crisis and establishing the FSCS 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 are looking for an exceptional leader who can take FSCS forward in its mission:
- To provide a trusted compensation service for consumers which raises public confidence in the financial services industry
- To deliver a compensation service to the right person at the right time
- To collaborate proactively with the regulators and industry to prevent future failure through the sharing of information and intelligence
- Lead the Executive Team and work with the Chair and Non-Executive Directors to develop an agreed strategy, policy and detailed business plans for FSCS including leading and delivering change and being prepared to respond to future failures.
- Report and monitor progress against these plans and take tactical actions as necessary to ensure the objectives and responsibilities of the Scheme are delivered effectively and efficiently.
- Lead the FSCS in delivering compensation to consumers quickly and efficiently whilst ensuring value for money in the effective governance of its activities, delivery of its statutory responsibilities and pursuit of its vision and objectives.
- Take the lead on stakeholder engagement, building positive relationships with regulators and HM Treasury, consumers, financial services providers, the media and Parliament through the Treasury Select Committee.
- Continue to increase public awareness of the compensation that is provided by the FSCS, including broadening the public's understanding around its role and responsibilities.
- Prior experience as a CEO or similar senior executive experience in a C-suite position in an organisation of similar complexity, preferably but not essentially in financial services
- Experience of working in a regulated environment and a good understanding of what it means to hold a senior position in a public organisation
- A successful track record in leading change within a complex environment and developing credible change strategies for stakeholders.
- Exceptional leader, with the ability to inspire and motivate staff at all levels, energy and enthusiasm to see through a demanding agenda and successfully engage and influence a wide range of stakeholders
- Evident integrity and commitment to the highest personal and professional standards