Chief Executive Officer
3 days left
The mission of the Financial Reporting Council (FRC) is to promote transparency and integrity in business. These are cornerstones to generating public trust and confidence in UK business and help attract investment in successful companies that provide jobs, create prosperity and generate economic growth.
The FRC sets the UK Corporate Governance & Stewardship Codes which aim to make investors more accountable to their clients and beneficiaries. The FRC also sets standards for accounting, auditing and actuarial work. As the UK's independent regulator and Competent Authority for Audit it monitors, and takes action where necessary, to promote the quality of corporate reporting and audit. It also operates independent enforcement arrangements for accountants and actuaries.
Following the Independent Review into the Financial Reporting Council (FRC), the Secretary of State for Business, Energy and Industrial Strategy (BEIS) has accepted the recommendation that the FRC should be replaced with a new independent regulator and Competent Authority for Audit – the Audit, Reporting and Governance Authority (ARGA).
We are seeking a candidate with exceptional leadership and management skills to secure the change recommended in the Review. As Chief Executive and Accounting Officer you will be responsible for the overall effectiveness of a new, robust, impactful regulator. You will work closely with the Chair to provide the vision, direction and leadership in the formulation and achievement of the regulator’s strategies and objectives.
The successful candidate will initially be appointed to the FRC, and will provide effective executive leadership of the organisation, continue to deliver its regulatory duties, and begin implementation of the Independent Review’s recommendations within the existing organisation. They will also take forward the regulator’s work to establish ARGA, including with relevant regulators. The successful candidate will be responsible for ensuring that it achieves the vision set out in the Review.
Key responsibilities and accountabilities
The Chief Executive will be responsible for the effective executive leadership and management of the regulator, within a strategic framework agreed by the Board and held to account by the Government and Parliament. The post-holder will be expected to appear at least annually before the BEIS Select Committee.
Specifically, the Chief Executive will have accountability for:
- Leading the successful transition in line with the recommendations from the Independent Review;
- Providing overall leadership and management of the regulator, ensuring that its obligations and objectives are met;
- Developing the strategic direction of the new regulator, overseeing policy development, and communicating these effectively;
- Ensuring strong relationships with a variety of stakeholders, to include the business and financial community, other regulators, BEIS, and Ministers.
Key skills and experience
- The personal credibility, integrity, and capability required to build relationships with investors and the users of accounts; hold to account the business and financial community; work with Government and other regulatory agencies; and maintain the trust of the wider public;
- Ability to lead significant organisational change that achieves highly effective operational delivery as well as efficiency and value for money;
- The ability to work collaboratively with the regulator’s Board, including a good understanding of the effective governance necessary to ensure that the regulator is a well-run organisation.
- Strong experience of handling regulatory issues, and a record of impactful senior leadership, with the ability to inspire a clear culture and aligned sense of purpose across a changing and complex organisation
How to Apply
For further information or to apply, please visit: www.odgers.com/71793
If you are unable to apply online please email: email@example.com
Please submit the following documents:
- A Statement of Suitability (no longer than two pages) - this should explain how you consider your personal skills, qualities and experience provide evidence of your suitability for the role, with particular reference to the points highlighted in the essential criteria. Please note that the statement of suitability is an important part of your application and is as much the means by which you will be assessed as your CV.
- A CV
- Application form enclosed in the candidate pack (following receipt of your cv and cover note, this will be shared with you and you will be asked to send it separately to firstname.lastname@example.org)
- Diversity Monitoring Form – all candidates are requested to complete an online Diversity Monitoring Form which you will receive an email prompt to complete at the end of the application process. This will assist BEIS in monitoring selection decisions to assess whether equality of opportunity is being achieved. Any information collated from the Diversity Monitoring Forms will not be used as part of the selection process and will be treated as strictly confidential.
All applications will receive an automated response.
Please note that failure to submit both your CV and Statement of Suitability will mean the panel only have limited information on which to assess your application against the essential criteria.
This role has been advertised on HM Government Public Appointments website. If you have any questions and want to discuss directly with the BEIS Public Appointments team, please email email@example.com.