FCA Cost Benefit Analysis Panel Member

Financial Conduct Authority; City Of London; Hybrid; GBP 60,000 - 80,000; Part time

Job summary

A financial regulatory body in the UK is seeking two new panel members for its Cost Benefit Analysis Panel. Successful candidates will provide expertise in either CBA methodology or financial services. The role requires significant experience in financial regulatory processes and strong analytical skills, with a commitment of up to 40 days per year. The position offers flexible working arrangements and competitive compensation.

Benefits

Flexible working arrangements

Competitive daily rate

Qualifications

• Significant professional experience in financial services or as an economist.
• Experience in oversight or sign-off of CBA or equivalent analysis.
• Knowledge of either retail markets, wholesale financial markets, or payment systems.

Responsibilities

• Review CBAs produced by the FCA before publication.
• Provide advice on CBA methodology and its execution.
• Assess how FCA and PSR are performing in their CBA duties.

Skills

Analytical skills

Understanding of regulatory impact

Collaborative team delivery

Job description

The FCA Cost Benefit Analysis Panel (the Panel) is looking for two new members. One will be from an authorised firm (please see separate advert) and one will be joining either as a CBA Methodology Expert or as a Financial Services Expert.

About the FCA Cost Benefit Analysis Panel

The FCA Cost Benefit Analysis Panel (the Panel) is an independent panel of experts, established through the Financial Services and Markets Bill (FSMB) 2023, to provide advice to the FCA and PSR in relation to cost-benefit analysis (CBA).

The FCA undertakes a CBA 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 its stakeholders that it is using its powers appropriately, a CBA helps it to understand whether the FCA’s proposed interventions are likely to be effective and are proportionate to the harm it is trying to address.

The panel advises the FCA and Payment Systems Regulator (PSR), and has 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.

The Role of the Panel

The Panel reviews a selection of CBAs produced by the FCA before publication. In order to ensure that the Panel focuses on reviewing the CBAs associated with high-impact interventions, only proposed interventions with expected impact above a certain threshold will be required to be reviewed by the Panel. The threshold and any exemptions from the obligation for the FCA or PSR to consult the Panel on a CBA before publication will be set out in the respective statements of policy on CBA methodology.

The Panel members will have the ability to bring a critical and pragmatic perspective to how the FCA and PSR produce CBA to regulatory interventions.

Skills/Experience Required

We are a Disability Confident Employer; therefore, disabled people or individuals with long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. (To learn more about the Disability Confident Scheme Click Here).

Successful individuals will have significant professional experience working as an expert in financial services, with a background, ideally, as an economist or in a related profession; skills and experience will include:

• A sound understanding of the importance of evidence and analysis in the regulatory process, and the impact of regulation on a range of stakeholders including businesses and consumers.
• Strong analytical skills, with the ability to critically assess evidence and make sound judgements in the face of uncertainty.
• Ability to deliver collaboratively as part of a senior level team, possibly but not necessarily with experience on a committee or board.

Successful individuals should also satisfy the requirements for at least one of the two roles set out below:

1 CBA methodology expert

Successful individuals will have experience in a senior position with responsibility for oversight or sign-off of CBA or equivalent analysis. This may have been gained at a government department or regulator, a private sector organisation such as a consultancy, an academic setting, a think tank or research organisation.

Should the individual’s experience come from outside a government department or regulator, they should bring evidenced experience with CBA of public policy projects.

2 Financial services market expert

Successful individuals will have experience in the financial services sector, gained either through working directly in a financial services firm or consulting in the industry, preferably having held a senior position. They should be able to demonstrate knowledge and deep understanding of at least one of the following: retail markets, wholesale financial markets, or payment systems.

The FCA’s Values & Diversity

Our ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator. We serve the public and our decisions directly affect the wellbeing of people, businesses and the UK economy. So, our values matter. They represent the culture we aspire to every day, guiding our judgements, building trust and helping us to be ‘At our best’.

The FCA is committed to achieving greater diversity across all levels of our organisation. Given this, we particularly welcome applications from women, disabled, and minority ethnic candidates, as under-represented groups.

As an inclusive employer, we are open to considering flexible working arrangements, including job shares. Please inform your recruiter if you wish to apply for this role on a flexible basis.

As part of the FCA’s on-going commitment to develop our national presence, most of our vacancies are now open to working in our Edinburgh, Leeds or London offices. This means that as part of the application process you will be able to select your preference of which office location you would like to work from.

Time Commitment

Panel Members will be contracted to work for up to 40 days per year, although there is no minimum expectation.

Meetings will take place in person and virtually, and members will not be expected to attend a high number of in-person meetings.

Term

Panel Members will be recruited for an initial term of three years. Terms may then be renewed, with a maximum term length of six years.

Benefits

Panel Members will be paid £500 as a daily rate.

Conflicts of interest

All applicants to the FCA are required to demonstrate that they do not have other interests likely to conflict with their responsibilities as an employee of the FCA. You should declare any potential conflict of interest as early as possible in the selection process, and also disclose information or personal connections that, if appointed, might be open to misperception.

Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) should they be successful in their application.

To be eligible for this position you must either not currently be employed by (or receiving regular payments from) the FCA, PSR, Bank of England/PRA or HM Treasury or be willing to resign such employment (or to otherwise stop being remunerated by them) in advance of your appointment to the Panel. Successful candidates should also be aware that appointment to the FCA Cost Benefit Analysis Panel may also impact their ability to sit on other external panels at the FCA, PSR or Bank of England/PRA. If, following their appointment, a panel member is made an offer of employment or remuneration by the FCA (otherwise than for their work on that panel), PSR, Bank of England/PRA or HM Treasury, we would expect to be notified in advance of the panel member accepting such an offer.

Useful information

• The closing date for this role is 23:55 on 21st November 2025
• To apply please submit your CV and cover letter.
• If you would like to discuss the role further, please contact the Panel Secretariat at [e-mail].

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