Chair of the Audit Committee

Description

Job Title: Chair of the Audit Committee

Location: London, United Kingdom

Reporting to: Chair of the Board

Commitment: Part-time, Non-Executive Role 24 days per year.

We are seeking an experienced and strategically-minded individual to serve as the Chair of the Audit Committee for our London-based bank. This role is central to ensuring the integrity of the bank’s financial reporting, internal controls, risk management, and audit processes. The ideal candidate will bring a strong background in finance, audit, or risk, with prior board-level experience in a regulated financial services environment.

Responsibilities

Key Responsibilities

• Lead the Audit Committee: Chair regular meetings, set agendas, and ensure robust discussion and challenge of the bank’s financial reporting and audit matters.
• Oversight of Financial Reporting: Review and monitor the integrity of the financial statements, including annual and interim reports, ensuring compliance with legal and regulatory requirements.
• Engage with External Auditors: Oversee the relationship with external auditors, including appointment, remuneration, performance, and independence.
• Internal Audit Function: Provide oversight of the internal audit function, including strategy, resourcing, reporting, and findings.
• Risk and Controls: Assess the effectiveness of internal controls, compliance, and risk management systems.
• Whistleblowing and Ethics: Oversee the bank’s whistleblowing framework, ensuring that concerns are raised and managed appropriately.
• Board Reporting: Report regularly to the Board on the committee’s activities, issues, and recommendations.

Qualifications

Candidate Profile

• Professional Expertise: Qualified accountant (ACA, ACCA, CIMA or equivalent) or significant experience in financial oversight roles within banking or financial services.
• Regulatory Understanding: Deep knowledge of UK financial regulation, particularly PRA, FCA, and UK Corporate Governance Code requirements.
• Independence and Integrity: Demonstrated independence, sound judgement, and a commitment to high ethical standards.
• Board Experience: Previous experience as a Non-Executive Director or Committee Chair in a financial institution or regulated environment.
• Leadership Skills: Strong communication and leadership abilities, capable of fostering open dialogue and effective challenge.

Desirable Experience

• Experience in cyber risk, ESG reporting, or digital banking transformation is advantageous.
• Familiarity with international regulatory standards and cross-border operations.

Job Benefits

Term and Remuneration

• Appointment is for 24 days per year
• Competitive remuneration commensurate with experience and regulatory expectations for non-executive roles.

Contacts

FD Capital are leading NED recruiters.