Understand the key responsibilities of our Chief Executive.
Andrew Bailey, Chief Executive
Andrew Bailey became Chief Executive in July 2016.
The Chief Executive is responsible for implementing the strategy agreed by the Board, in the formulation of which he will have played a major part. He is also responsible for the leadership of the organisation and managing it within the authorities delegated to him by the Board.
Andrew's key responsibilities include:
- reporting regularly to the Board with appropriate timely and quality information so the Board can discharge its responsibilities effectively
- informing and consulting the Chair on all matters of significance to the Board so that the Chair and the Board can properly discharge their responsibilities
- developing and delivering the strategic objectives agreed with the Board
- recommending to the Board significant operational changes and major capital expenditures where these are beyond the Chief Executive’s delegated authority
- assigning responsibilities clearly to senior management and overseeing the establishment of effective risk management and control systems
- recruiting, developing and retaining talented people to work at the FCA and, in particular, establishing a strong management team which is fairly and fully evaluated
- communicating throughout the FCA the strategic objectives and the values of the FCA agreed with the Board, and ensuring that these are achieved in practice
- sharing with the Chair and with other members of the FCA senior management the responsibility for communicating the FCA’s messages externally
- representing the FCA on particular national and international financial institutions
- taking such steps as are necessary to ensure that the Payment Systems Regulator is, at all times, capable of exercising its statutory functions
All FCA staff other than the Chair’s immediate staff, the Director of Internal Audit and the Company Secretary, ultimately report to the Chief Executive.