Non-Executive Director

London Permanent £60,000 - £60,000 per year
  • Non-Executive Director for Open Banking
  • Non-Executive Director, transformation, change, digital, technology

About Our Client

In 2016, the Competition and Markets Authority (CMA) published the findings of its investigation into the UK retail banking market. The report found that older, larger banks did not have to compete hard enough to gain customers' business, while newer banks find it difficult to access the market and grow. One of the remedies designed to tackle this problem was the development of Open Banking through the establishment of an Open Banking Implementation Entity (OBIE)

Open Banking is a new, secure way for customers to take control of their financial data, share it with organisations other than their banks, and provides new ways of making and receiving payments. It has the power to revolutionise the way we move, manage, and make more of your money.

Job Description

We are seeking a Non Executive Director to support the governance of OBL as it transitions to the future entity to the satisfaction of key stakeholders (including the CMA, CMA9, FinTechs and regulators (the FCA and PSR) among others.

The successful candidate will contribute to the Board's role in:

  • Monitoring and reviewing progress against the strategy for OBL (as set by the Chair/Trustee) and ensuring that OBL fulfils its functions and that the remaining requirements of the CMA's Order are met;
  • Ensuring OBL is managed in accordance with good corporate governance standards and that the principles of good corporate governance are observed, including establishing effective processes to oversee the use of its funds, having regard to the terms of the Trustee Mandate and other funding documentation, risk management and human resources, using appropriate procedures and processes to assess OBL's operations and performance;
  • Ensuring constructive challenge and oversight to the decisions made by the executives in running the organisation
  • Overseeing and setting the strategy for ensuring OBL operates with the regulatory and constitutional framework applying to OBL, including the CMA Order, the Agreed Arrangements set out in the Explanatory Note to the CMA Order, OBL's articles of association and other governance documentation;
  • Developing and reviewing the strategy for the transition of OBL to a future entity state, as led by the Chair/Trustee - in doing so the Board will have regard to the CMA response to the consultation exercise on the future entity, to regulatory expectations to be set out by the CMA and other regulators and to the views of the Joint Regulatory Oversight Committee (JROC), and industry stakeholders participating in a transition steering group;
  • Fostering productive relationships with key stakeholders, gaining and retaining the confidence of a wide range of stakeholders including CMA, CMA9, regulators and other key Open Banking stakeholders;

The Successful Applicant

It is essential that successful candidates demonstrate:

  • Experience in change management, financial innovation, and/or digital
  • Demonstrable knowledge of corporate governance and skills to ensure that the financial position, internal controls, conflict management and risk management practices of OBL are in line with best practice, its governing documents and legal/regulatory requirements.
  • Excellent influencing, diplomatic, negotiation and communication skills and an ability to influence, build consensus and communicate with a range of stakeholders.
  • An understanding of the challenges facing an organisation that works at the intersection the between the Public and Private sectors.
  • An understanding of the UK's regulatory environment.
  • An ability to provide effective leadership alongside the Chair, as well as challenge and support to executive management during a time of significant change.
  • Ability to work in a sensitive and potentially fast-moving area, under the pressure of close public scrutiny.
  • Excellent analytical skills, judgement and sound decision-making ability.
  • Good understanding of how complex organisations operate and experience of problem solving and resolving challenging situations.
  • The ability to maintain independence of thought and judgement.
  • A strong commitment to equal opportunities, diversity and inclusion.

What's on Offer

Time commitment and duration

We envisage that the role will require a time commitment of 3-4 days a month. The duration of the role will be an initial period of 12 months.

Kas Rothwell
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Job summary

Board Level
Board Level Subsector
Financial Services
Contract type
Consultant name
Kas Rothwell
Job reference

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