The FCA Cost Benefit Analysis Panel (the Panel) is a new independent panel of experts which will be established when the Financial Services and Markets Bill (FSMB) is enacted to provide advice to the FCA and PSR in relation to cost-benefit analysis (CBA).
The FCA undertakes a CBA in order to analyse and estimate, where possible, the likely impacts of a policy on different groups such as industry, consumers, markets and the FCA. As well as providing transparency to the public and our stakeholders that we are using our powers appropriately, a CBA helps us to understand whether our proposed interventions are likely to be effective and are proportionate to the harm we are trying to address.
The panel will advise the FCA and Payment Systems Regulator (PSR), and will have the statutory duty to:
- provide the FCA and PSR with advice in relation to the preparation of their statement of policies on CBA methodology;
- provide the FCA and PSR with advice in relation to the preparation of CBAs;
- keep under review how the FCA and PSR are performing generally in carrying out their duties to undertake a CBA; and
- provide to the FCA and PSR whatever recommendations the Panel thinks appropriate as a result of such review.
As Panel Chair, you will lead and improve the capability of the Panel in providing expert, independent and pragmatic advice, challenge and scrutiny to help raise the standard of CBA and evidence-based policy development in the FCA and PSR.
The Chair’s appointment will be subject to HM Treasury approval and will be responsible for ensuring the Panel works within the remit of its statutory objectives as set out in the Financial Services and Markets Bill.
You will work with the FCA and PSR to establish effective, pragmatic and proportionate ways of working to ensure that the Panel is able to carry out its duties.
Skills And Experience Will Include
- Leadership at a senior level with responsibility for oversight or sign-off of CBA or equivalent analysis.
- Evidence of experience with CBA of public policy projects, possibly with experience on a similar panel.
- Demonstrated knowledge of relevant methodological frameworks, for instance HMT Green Book, the UK Government’s Better Regulation Framework, or equivalent from international organisations.
- Background in economics or other relevant disciplines, including social research, statistics or data science, with some expertise in CBA methodology.
- Excellent communication skills and the ability to build and maintain strong relationships with a wide range of stakeholders.
The anticipated time commitment is 50-80 days per annum.
The FCA’s ambition is to create a diverse and inclusive workplace that reflects the society the FCA serves, helping the FCA to be a better regulator. The FCA particularly welcomes applications from women, disabled, and minority ethnic candidates, as under-represented groups.
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. You can find more information on the minimum criteria in the downloadable Candidate Brief.
All applicants are required to demonstrate that they do no 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.
The deadline for applications is 23:55 on Sunday 18 June 2023.
Please do not apply via the FCA careers page as this vacancy is being managed by our recruitment partner at Odgers. To apply please visit:
Executive Jobs Opportunities | Odgers Berndtson