An exciting opportunity has arisen for individuals to join the Financial Services Consumer Panel (the Panel).
The Panel is established under statute and is independent of the Financial Conduct Authority (FCA). It represents the interests of consumers of financial services (including small business consumers), primarily to the FCA. Its vision is for financial services markets to work well for consumers. It aims to ensure that the consumer interest is heard and taken into account in developing and implementing financial services policy and regulation and brings to the attention of the FCA relevant issues which are of significance for consumers.
Panel members offer constructive advice and challenge to help the FCA to deliver its strategic and operational objectives. They have the opportunity to engage with the FCA at all levels, including the Chair, CEO and Executive Committee, to help shape the regulator’s policies, rules and responses to live issues that impact financial services consumers. The Panel is supported by a Secretariat based within the FCA.
Membership of the Panel is made by individual appointment and is not as a representative of any organisation.
Further details about the Panel’s work and its current membership can be found on the
Panel's website
.
The roles
The FCA is looking to appoint several new members over 2023 to replace outgoing Panel members, with a focus on the following areas of expertise:
The roles require an affinity with the interests and concerns of consumers from across all socio-economic and demographic backgrounds and small businesses, and the ability to analyse new initiatives and policy across the breadth of the FCA’s activities from the consumer perspective.
Members are expected to attend twice-monthly formal Panel meetings (normally held on the first and third Wednesdays of each month, except in August) and other ad hoc meetings to discuss specific issues. Meetings include in-person meetings at the FCA’s offices in Stratford. Members should maintain expertise in a particular subject area, develop relevant networks and be accountable for leading on consultation responses and discussions on issues relating to that area, representing the Panel within the FCA and contributing to projects and the Panel’s forward agenda.
Appointments are made by the FCA Board, usually for a term of three years. Successful candidates should expect to commit to no fewer than 35 days per annum and will be eligible for a fee of £15,000 per annum.
Key requirements for the role
Successful candidates will be able to demonstrate expertise in one or more of the areas noted above.
In addition, they should be able to demonstrate:
A strong interest in, or track record of representing the interests of consumers from across society, especially those with vulnerable characteristics.
A sound understanding of the FCA’s role and objectives and the impact of FCA policy and regulation on financial services and, by extension, on consumers, and the ability to quickly grasp a wide range of complex financial issues.
Strong analytical and drafting skills and the ability to engage, collaborate and communicate effectively with FCA and other stakeholders at all levels, including at Board and Executive Committee level.
Experience of providing advice and delivering constructive challenge on a broad range of issues.
A commitment to diversity and inclusion and to reflecting the diversity of consumers’ lives.
The ability to act in an independent advisory capacity and to respect the confidential nature of discussions.
We would also welcome candidates with experience of and/or expertise in research (in particular consumer research), including aspects such as research methodologies and results analysis.
Additional Information
All Panel members are expected to read and comply with the Panels’ Conflict of Interests Policy and declare to the Panel Secretariat any interests/relationships that may give rise to any actual or potential conflicts of interest. With this in mind, candidates are reminded of the Seven Principles of Public Life: selflessness, objectivity, integrity, accountability, openness, honesty and leadership.
The FCA Values & Diversity
The FCA’s ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator. We serve the public and our decisions directly affect the wellbeing of people, businesses and the UK economy. So, our values matter. They represent the culture we aspire to every day, guiding our judgements, building trust and helping us to be ‘At our best’.
As a forward-facing organisation which is continually working to drive improvements for everyone who uses financial services, the FCA is looking for people who share our openness and determination. In addition to gender diversity, the FCA’s commitment to diversity and inclusion has a broader range which includes disability, ethnicity, LGBT and gender identity through to mental health and social mobility issues. Further details on the FCA’s diversity and inclusion targets can be found
here
.
The Panel is equally keen to achieve a more diverse and inclusive membership.
How to apply
To apply for one of the vacancies please forward a CV and a covering letter which sets out the vacancy/vacancies you are applying for, your interest in the role and encapsulates the aspects of your experience relevant to the required criteria, to
.
The closing date for applications is Wednesday 21st June 2023.
Following receipt of your application you will receive an email inviting you to complete a Diversity Monitoring Form. This will assist the FCA 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.
We expect to commence interviews for shortlisted candidates in June/July 2023, with appointments commencing from September 2023 onwards.
If you would like to discuss any of the roles further, please contact the Panel Secretariat at
.
The FCA processes your personal data in line with UK GDPR, DPA 2018 and the Equality Act 2010. For further information, please read our privacy notice available
here
.