Financial Services Compensation Scheme

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 an independent free service which covers all regulated financial services in the UK. The Scheme protects: deposits in banks, building societies and credit unions; insurance policies; some investments and investment advice; insurance broking; mortgage advice; self-invested personal pensions (SIPPs); pensions advice; payment protection insurance (PPI); debt management plans; and pre-paid funeral plans. FSCS’s mission is to provide customers with a trusted compensation service which helps raise public confidence in the UK financial services industry.

The current Chair, Marshall Bailey steps down from his role in September 2024 upon the completion of his term. FSCS is therefore now seeking a new Chair to succeed him. This is a hugely important appointment for the organisation. The role of the Chair is to provide strategic leadership to FSCS: chairing and overseeing the performance of the Board; leading the organisation in dealing with complex demands efficiently and effectively; establishing and maintaining a positive, high performing culture in the Board and, by overseeing the performance of the Chief Executive, across the organisation; promoting the highest standards of corporate governance; and playing a high profile role in managing relationships with industry, regulatory and government stakeholders.

The ideal candidate will be a proven strategic leader, with experience as a Chair. They will have a proven track record in the financial services industry and the ability to demonstrate a commercial mindset and independent judgement, but also the ability to support and challenge the executives. Candidates are likely to have had experience as a Chief Executive or other senior executive, with a track record of delivering results and driving organisational transformation and change in a complex private or public sector environment. They must have experience of successfully managing and influencing multiple diverse stakeholders at the most senior level. Experience of working effectively in this way with regulators and government will be a distinct advantage.

Saxton Bampfylde Ltd is acting as an employment agency advisor to the Financial Services Compensation Scheme on this appointment. For further information about the role, including details about how to apply, please visit www.saxbam.com/appointments using reference QFVG. Alternatively telephone +44 (0)20 7227 0880 (during office hours). Applications should be received by noon on Wednesday 8th May 2024.