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FRC Board Diversity Policy 2023

FRC Board Diversity Policy

The FRC understands and values the benefits that diversity can bring to its Board. A diverse Board includes and make good use of differences in the skills, experience, background, race, gender and other characteristics of Directors as set out in the Equality Act. These skills and backgrounds collectively represented on the Board should reflect the diverse nature of the environment in which the FRC and its stakeholders operate and, improve its effectiveness through diversity of approach and thought.

Appointments to the FRC Board are made by the Secretary of State for the Department of Business and Trade (SoS) in accordance with the HM Government Public Appointments Process.

The People Committee, on behalf of the Board annually reviews the composition of the Board and considers the balance of competencies to ensure alignment to the FRC's purpose and strategic priorities; the environment in which it operates; the characteristics, perspectives, independence and diversity of Board members; and other factors relevant to its effectiveness. This review informs any recommendations to the SoS in respect of reappointments and the recruitment exercises.

Objectives

The FRC is committed to committed to encouraging applications from the widest range of backgrounds. The Board fully supports the Government's Public Appointments Diversity Action Plan, that half of new appointees should be women and 14% of appointments should be made to those from ethnic minorities.

The Board places a high emphasis on ensuring the development of diversity in the senior management roles within the FRC and is a signatory to the Women in Finance Charter, partners with LGBT Great and Business in the Community (BiTC) and is Disability Confident accredited. The Board also places high emphasis on ensuring the development of diversity in the senior management roles within the FRC.

Monitoring and Reporting

The FRC People Committee regularly monitors the objectives set out in this policy. The Annual Report includes a report on diversity in the workforce and the gender pay gap.

Approved by the Board on 21 September 2023

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Name FRC Board Diversity Policy 2023
Publication date 24 March 2025
Format PDF, 79.5 KB
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