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Vacancies for Panel Members

An exciting opportunity has arisen for individuals to join the Financial Services Consumer Panel (the Panel). This is a critical and challenging time for financial services consumers as the cost-of-living crisis continues to have an impact, there are significant changes in financial services regulation and the recent implementation of the Consumer Duty which sets higher and clearer standards for consumer protection across financial services. Against this backdrop, Panel members can have a significant impact by ensuring the consumer voice is articulated, heard, and taken into account by the Financial Conduct Authority (FCA) and more broadly. Ultimately, the Panel’s vision is to make markets work well for consumers (both individual consumers and small businesses) and for consumers to be protected from harm: this role presents the opportunity to help shape financial services towards this purpose.

The role of the Panel

The Panel is established under statute and is independent of the FCA. It represents the interests of consumers of financial services (including small business consumers). 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.

The Panel is not a campaigning or lobbying group. It exists to provide an independent consumer perspective primarily for the FCA, but also on the conduct of financial services more generally. 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 .

The roles

The FCA is looking to appoint five new members to replace Panel members who have recently left, and outgoing Panel members who will shortly reach the end of their term of office. The Panel represents a broad range of consumer groups and interests and must reflect a diverse mix of talent.

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.

Successful candidates should be able to demonstrate:

In addition, individuals will have significant experience and expertise in one or more of the following areas:

We would also welcome candidates with significant experience of and expertise in research (in particular consumer research), including aspects such as research methodologies and results analysis.

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 will take place virtually or in person (with members expected to attend a limited number of in-person Panel meetings during the year) at the FCA’s offices in Stratford. Reasonable expenses arising from attendance at in-person meetings will be reimbursed. 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.

Additional Informatio

All applicants are required to demonstrate that they do not have other interests likely to conflict with their responsibilities as an appointment by the FCA. Any potential conflict of interest should be declared as early as possible in the selection process. As such, these positions are not suitable for those who are currently employed in a commercial and FCA regulated firm, or the financial regulatory family.

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 (more information can be found ).

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 .

The FCA is a signatory to the Government’s Disability Confident Scheme. This means it guarantees disabled people an interview if they meet the minimum criteria for any job vacancy. The Panel has also committed to do so.

The Panel is equally keen to achieve a more diverse and inclusive membership and particularly welcomes applications from women, disabled, and minority ethnic candidates, as under-represented groups.

How to apply

To apply for one of the vacancies please submit 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 2 October 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 late October/early November 2023, with appointments commencing from Q1 of 2024 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 .