Non- Executive Member - Conduct Committee (GL 30)
Fixed Term 3 years, Part Time 15 days per year
Closing date: 16 August 2019
The Financial Reporting Council (FRC) is responsible for promoting transparency and integrity in business. We are the UK Competent Authority for audit and set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work. We monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about the role of the FRC can be found at www.frc.org.uk
The FRC Conduct Committee
The Conduct Committee exercises specified delegated functions of the Secretary of State and is responsible for overseeing the FRC’s supervisory, monitoring and enforcement work with the objective of promoting high quality audit and actuarial work, corporate governance and reporting. It has powers and responsibilities as set out in the FRC’s monitoring, review and enforcement procedures. It reports to the FRC Board. Find out more about the work of the FRC and its governance arrangements at www.frc.org.uk
The Conduct Committee is chaired by David Childs who is a non-executive director of the FRC. Full details of the Conduct Committee’s membership and Terms of Reference can be found on the FRC website – https://www.frc.org.uk/about-the-frc/conduct-committee
The FRC seeks to appoint a non-executive member to its Conduct Committee. We are particularly interested in candidates with experience at a senior level of actuarial work.
Candidates should have strong intellectual qualities and sound judgement with an ability to set strategic direction and to challenge constructively.
All individuals will be able to demonstrate attitudes consistent with the expectations of public office and the Nolan Principles of Public Life.
In addition, candidates will demonstrate the following:
The ability to acquire an understanding of the FRC’s fundamental objectives, the global regulatory framework and the role and influence of the FRC;
Independence of thought and interpersonal skills. Candidates must be independently minded and be able to form their own views and decisions, whilst working closely and constructively with other members of the committee;
Undisputed integrity and standing – the ability to maintain discretion and engender trust in staff, peers and stakeholders; and
A good understanding of corporate governance, corporate reporting, accounting and/or auditing.
Under the statutory and regulatory frameworks which apply to the FRC’s responsibilities there are certain restrictions on the membership of the FRC Board and some of its committees, including the Conduct Committee. These include individuals who are or in the previous three years have been practising auditors, held voting rights in an audit firm or who have been an employee or partner of an audit firm; or an office holder of an audit recognised supervisory body; and current office holders of an accountancy or actuarial professional body.
Time commitment and term of office
The expected time commitment is around 15 days per year. Formal half day Committee meetings are held in every month except August and ad hoc meetings may be called.
Appropriate remuneration will be offered. Reasonable expenses incurred in performing the duties of the appointment will also be reimbursed.
The appointment is for an initial term of 3 years, which can be renewed for a further 3 years.
The selection process will involve an independent assessor to assist with the selection of candidates for appointment.An assessment of potential conflicts and interests will be undertaken as part of the selection process.
- 12 noon 16 August 2019 - Closing date for applications
- w/c 9 September 2019 – Interviews
- 17 September 2019 - First meeting date
Applications should be sent by email to email@example.com no later than the closing date.
Please quote reference GL30.
Candidates should provide a CV and covering letter which should quote the reference number and explain why they are interested in the appointment and how they meet the candidate requirements detailed above.Should the application proceed to the final stage candidates will be asked to provide details of two referees.