Chair - Financial Reporting Advisory Board

HM Treasury

Apply before 11:55 pm on Wednesday 16th October 2024

 
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Details

Reference number

369856

Salary

£0
This role is unremunerated but reasonable travel expenses will be reimbursed on application

Job grade

Other

Contract type

Fixed term

Length of employment

The term of appointment is 3 years, with the potential to renew once.

Type of role

Finance

Working pattern

Part-time

Number of jobs available

1

Contents

Meetings when held in person, are convened at HM Treasury, London. Meetings are held on a hybrid basis, with in-person attendance encouraged for the November meeting.

Job summary

HM Treasury is seeking a new Chair of the Financial Reporting Advisory Board (FRAB) as the current Chair’s term comes to an end. The Board plays a key role in developing public sector financial reporting guidance, to help improve the quality of public sector reporting and increase accountability. The Board advises UK public sector accounting standard setters on matters related to financial reporting. Created in 1996, the Board plays a valuable independent role in the accounting standard setting process.

Commitment

FRAB meets three times each year; these meetings are hybrid, although the Chair typically attends in person. Papers for each of these meetings are shared with the Chair and other Board members a week in advance. The number and complexity of issues being discussed mean that each meeting typically requires a two-day time commitment from the Chair. Issues that arise between meetings are sometimes resolved via correspondence or can require the Chair to convene virtual ad hoc meetings of the Board if an urgent decision is required. The Chair also engages on a regular basis with HMT, including to agree the agendas for Board meetings.

Job description

The Chair is expected to contribute to the overall success and effective and efficient operation of the FRAB in the following ways:

  • Chair and lead the FRAB, ensuring its effectiveness and encouraging contributions from all of its members
  • Ensuring the FRAB fulfils its remit in accordance with legislation and its Terms of Reference
  • Ensuring that the FRAB encourages the highest possible standards in financial reporting by government
  • Maintain and build the FRAB’s credibility in its provision of independent advice on financial reporting principles and standards to the relevant authorities, in its reporting to Parliament, and in its dealings with its stakeholders more widely;
  • Ensure the strength and calibre of the FRAB through effective review of its performance and by succession planning
  • Ensure the FRAB maintains excellent relationships with relevant standard setting bodies in the profession, including the Financial Reporting Council, the International Accounting Standards Board, and the International Public Sector Accounting Standards Board.

Person specification

It is essential in your supporting statement and at interview that you provide evidence and proven examples against each of the selection criteria of how you meet the requirements of the post. The criteria will be used to assess whether candidates have the required qualities, skills and experience listed below.

We would like you to demonstrate the following essential criteria:

  • Proven track record of chairing or strong leadership capability at this level
  • Evidence of strong professional grounding within the accounting and finance profession
  • Evidence of strong communication and presentation skills, including the ability to represent the views of others effectively with a wide range of public and private stakeholders
  • Evidence that you are a qualified accountant (CCAB or equivalent), with evidence of strong International Financial Reporting Standards knowledge and application.

Personal qualities:

  • Committed and goal focused with the ability to set clear priorities and a strategic direction
  • Excellent interpersonal skills that generate trust and confidence in others.

Selection process details

If you are interested in applying for the role, please supply the following by 23:59 on Wednesday 16th October

  • A comprehensive CV setting out your career history and including details of your professional qualifications
  • A covering letter (with a maximum of 2 pages) outlining what interests you about the role and how you meet the relevant criteria
  • In addition, please also complete and return the questionnaire at Annex A relating to the guaranteed interview scheme, political activity and conflicts of interest as well as the Diversity Monitoring Form
  • Supply details of two referees who may be contacted to provide a reference or information relating to your application. Details should include, names, addresses, contact number, email address and occupation.

Please note that HM Treasury may undertake some social media checks and other vetting prior to interview.

Completed applications should be emailed to the Board Secretariat at FRABsecretariat@hmtreasury.gov.uk

If you have any queries about the role, please contact the Board Secretariat at FRABsecretariat@hmtreasury.gov.uk



Feedback will only be provided if you attend an interview or assessment.

Security

People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

  • UK nationals
  • nationals of the Republic of Ireland
  • nationals of Commonwealth countries who have the right to work in the UK
  • nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
  • nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
  • individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
  • Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service
Further information on nationality requirements (opens in a new window)

Working for the Civil Service

Please note this Post is NOT regulated by the Civil Service Commission.
The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.
The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).
Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

  • Name : FRAB Secretariat
  • Email : FRABSecretariat@hmtreasury.gov.uk

Recruitment team

  • Email : hrrecruitment@hmtreasury.gov.uk

Further information

If you are unsatisfied with how your application has been handled throughout the recruitment process, please contact the FRAB Chair on the below email in the first instance:
FRABSecretariat@hmtreasury.gov.uk

Attachments

FRAB Chair pack - FINAL Opens in new window (docx, 78kB)
Disability Conflicts and Political form Opens in new window (docx, 78kB)
Diversity monitoring form Opens in new window (docx, 1666kB)

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