APPOINTMENT OF CEO June 2021 - Saxton Bampfylde
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Global Open Finance Centre of Excellence: CEO APPOINTMENT OF CEO June 2021
Global Open Finance Centre of Excellence: CEO
CONTENTS
1. Introduction
2. About the Centre
3. The role
4. The person
5. Terms of Appointment
6. How to apply
“We improve
people’s lives by
safely unlocking the
potential of financial
data to enable
research, innovation
and talent
development in FS
and FinTech.”
Global Open Finance Centre of Excellence: CEO
Global Open Finance Centre of Excellence: CEO Welcome! Thank you for showing interest in taking up this vital post at the Global Open Finance Centre of Excellence. The University of Edinburgh is excited to be a partner in this new Centre to unlock financial data for research, innovation, skills development and to help drive the successful adoption of Open Finance globally. The opportunities are vast, exciting and largely untapped. The Covid pandemic has highlighted the importance of near real-time economic analysis to support Government policy, and the post pandemic economic recovery will need Financial Services and FinTech to remain a strong part of our economy as highlighted by the recent Kalifa review. We are committed to working with the successful candidate to build on the strong foundations already in place to deliver the mission and ground-breaking societal and economic impacts including addressing the Poverty Premium and improving financial inclusion amongst young people, women and disadvantaged communities. This appointment is timely and important as the Centre evolves from being hosted as a start-up within the University to spinning-out into a Not for Profit company. The Centre is vital to us not just for the normal reasons you might expect of a leading research-intensive university – enabling exemplary research and enabling acquisition of new skills in the workforce - important though those factors are. It goes further than that to the global mission and impacts the Centre can deliver, and our role as a global University to help make that happen. The Centre is seeking someone who can create a highly interdisciplinary and skilled team capable of working across many different areas of social, economic and environmental challenges and engaging with industry, government, regulators, charities and academics in the process. We believe the intersections of finance with health and the environment will deliver significant challenges in the next decade, with data driven innovation being the key to unlocking this. The University is a strong partner offering support from a range of major data-related research institutes, for example offering opportunities for collaborative working with machine learning and Artificial Intelligence (AI) technologists as well as sciences relating to the environment and sustainability, business, law, policy, the social sciences and health. Similarly, we can offer analysis and commentary on contemporary issues relating to data, AI and ethics which will be important to build public trust in Open Finance and beyond, as this evolves to Smart Data. We believe the Centre can play an active role in the development of new national and global ethical and regulatory frameworks for the future of AI in Open Finance. Work to address these challenges is already underway and many foundation stones are in place – cornerstone funding, an initial set of market propositions, financial data supply, safe & secure data infrastructure, and relationships with Financial Services, FinTechs, government and charities. Your role will be to build on these foundations to take the Centre to the next level of delivering on its mission and secure financial sustainability. You will contribute to the strategic direction, ensuring strong governance, management and market focus. If these challenges motivate you, if you have ideas and experience to bring to the table, and if you would relish engaging with stakeholders including businesses, entrepreneurs, consumers, governments and regulatory experts, as well as working with my academic colleagues, on these agendas, we want to talk with you. We’re not expecting any one person to address these issues alone; you would be joining a multidisciplinary team in the Centre and the wider academic community with strong expertise and passion for helping the world tackle these challenges and deliver practicable solutions. The Centre will be located in the Edinburgh Futures Institute which will be a stunning and invigorating environment in which to lead this work to make a difference in the world. I hope that we will have the opportunity to share thinking and ideas with you. Peter Mathieson Principal and Vice-Chancellor, University of Edinburgh
Global Open Finance Centre of Excellence: CEO ABOUT THE CENTRE Our mission is to improve people’s lives by safely unlocking the potential of financial data The Global Open Finance Centre of Excellence (GOFCoE) is a collaboration between the University of Edinburgh, Financial Data and Technology Association (FDATA) and FinTech Scotland to build a data innovation environment serving public, private and third sectors. Currently hosted by the University of Edinburgh, the Centre is in the process of becoming an independent not for profit entity. GOFCoE aims to unlock financial data to develop and deliver world-class research, innovation and education that will enhance financial services and deliver social and economic benefits. It will provide a trusted environment to address pressing societal challenges and research around Open Finance, working to build innovation in financial markets in the interest of consumers and deliver long-term research insights into public earning, spending and saving. GOFCoE provides leadership, coordination, research, and capability to develop the benefits of Open Finance and to help safely unlock the potential of appropriate consumer financial data as a force to improve lives. Through its close collaboration between the University of Edinburgh, FDATA and Fintech Scotland, the Centre will provide the foundation for projects operating at local, national and global levels, focusing on areas of the market that can only be really solved through collaboration. Whilst the medium-term ambition of the Centre is to operate internationally, in its start-up phase it will build upon expertise from across Scotland’s universities, financial services and financial technology sectors. It will establish responsible and ethical research & innovation capabilities, train new talent to expand the sector, and build local, national and international partnerships. GOFCoE also helps businesses, universities, public bodies, and charities to share data safely. The facilities and services provided by the centre help partners work together on projects while keeping data safe and
Global Open Finance Centre of Excellence: CEO
protecting their privacy. By creating a safe haven, the Centre enables financial services companies and their
customers the confidence to share data securely.
The Centre will deliver on its goals, through its work on six key areas:
• An Open Finance Innovation environment that will enable faster, richer, and more collaborative
innovation cycles to unlock the power of open finance and open data at an accelerated pace.
• A Global Economic Observatory, powered by The University of Edinburgh Financial Data Safe Haven,
that allows for the longitudinal study of how people spend, save, and earn their money and creates
collaborative space for deep exploration of economic and societal trends. The observatory has
already helped the UK government to study financial behaviour during the coronavirus pandemic,
informing UK policy development.
• A Technical Standards capability that encourages global collaboration and advancement of standards
in API security, digital identity, and other technical infrastructure.
• A Customer Data Protection Research Unit that explores how to better protect consumers from harm
and advances the removal of algorithmic bias to ensure the benefits of open finance are available to
all.
• An Economic Crime Research Unit that encourages international collaboration to identify and fight
economic crimes such as fraud, identity theft and money laundering through large-scale data pattern
recognition.
• Designing and enabling a series of Talent Programmes that enable the skills needed to help UK
Fintech and Financial Services advance innovation in Open Finance.
Global Open Finance Centre of Excellence: CEO
Finances and Staff
The Centre has received £22.5m in funding
from the Strength in Places fund (SIPF) to
develop and grow over the next 5 years,
FDATA is a not for profit global association for financial services companies
building on the early seed funding it received operating in Open Banking and Open Finance.
from the Data Driven Innovation programme
and the City Region Deal. Its mission is to open up the worldwide financial sector to allow every
customer to leverage the benefits of financial data and technology and, to
GOFCoE’s team brings together experts from ensure that financial services are delivered in a fair, ethical, compliant, and
robustly competitive landscape.
a variety of fields, including financial services,
fintech, consultancy, and academia with a In leading the campaign for Open Finance, FDATA advocates for the end
high level of entrepreneurialism, academic consumer’s absolute choice to select their service provider and in doing so,
excellence and commercial ability. advocates on behalf of its members as it works with government, policy
makers, and regulators to implement best practices to promote healthy
Kevin Collins is currently the interim CEO and competition.
will step back to The University of Edinburgh
upon the appointment of his successor. Kevin FDATA’s members are committed to improving the speed, security, and
is supported by an interim Management team scale of service. From technical standardisation to access to data, to fair
processes that encourage innovation and customer choice, FDATA is
including representatives from FDATA and
committed to promoting customer-centric regulation built on fair and ethical
Fintech Scotland. The Centre currently has
Open Finance for both the consumer and those organisations delivering
35 core staff and 15 seconded staff from its financial services.
partner organisations.
The current strategic plan will see the Centre
grow to a permanent full time team and a
target for a £13 million annual turnover by
2025. The ambition is for the Centre to be FinTech Scotland is an independent not for profit body established by the
financially sustainable through a mix of financial services sector, universities and Scottish Government to ensure
that Scotland seizes the FinTech opportunities and achieves positive
different private and public sector funding
economic and social outcomes by encouraging financial innovation,
purposes.
collaboration and inclusion as part of the country’s broader digital economy
objectives. The organisation acts as a strategic enabler and cluster
management body focused on leveraging the potential economic (i.e.
productivity, business creation, employment) and social (i.e. financial
inclusion, well-being and accessibility) benefits arising from becoming a
leading global centre focused on FinTech innovation.
FinTech Scotland’s objectives are to develop an innovative community of
FinTech firms, generate impactful collaborations between firms of all sizes
and foster an inclusive cluster which is globally recognised.
In January 2020, FinTech Scotland was formally recognised for the
development for the FinTech cluster in Scotland and accredited with the
bronze label for Cluster Management Excellence by the European
Secretariat for Cluster Analysis.
FinTech Scotland was initially founded in January 2018 as a joint initiative
by Lloyds Banking Group, HSBC, University of Edinburgh, Scottish
Government and Scottish Enterprise. The organisation is now supported by
a broad range of global financial services, technology and professional
services firms as well as The University of Edinburgh and University of
Strathclyde, the Financial Conduct Authority, Scottish Government and
Scottish Enterprise.
Global Open Finance Centre of Excellence: CEO
Early Successes
Infrastructure Social Impact Research
• Physical and virtual workplace • Building coalition and
• Edinburgh Parallel Computing programme design around
Centre (EPCC) data haven Poverty Premium
• Built robust set of data • Innovative research in Saving
ingestion and governance and Ageing
controls • Unlocking new projects at
• Built new organisation during intersection of Finance/Health
lockdown
• Commercial orientation to
match this funding and become
self-sustaining
Finance / Climate GEO MVP
• Exploring user-cases beyond • GOFCoE have delivered an
financial data economics insights dashboard
• Delivered project with to GOV.UK
Icebreaker One, University • Covid-19 insights to tackle
College Dublin (UCD), United issues around policy
Nations Environment interventions supporting
Programme (UNEP) economic recovery
• Support cities, regions and • Delivered Citizen-focused
countries to recover from insights, now addressing
Covid-19 and Build Back Better SME’s
Global Open Finance Centre of Excellence: CEO
THE ROLE
Job Purpose
The Chief Executive Officer will have responsibility for the overall strategic leadership of the Executive
Committee and operational management of the Global Open Finance Centre of Excellence. The role of the
CEO will be to develop the vision and build on existing partnerships and resources to rapidly deliver financial
sustainability for the Centre. This will be achieved through high levels of engagement with the financial
services industry, governments, regulators, academics and charities. Success will be reflected in associated
increases in direct income and indirect benefits including global visibility, public trust, economic impact and
societal impact. The CEO will be required to provide exemplary leadership in managing risk and ethical
assessment of the Centre’s work.
Reporting directly to, and working with, the Chair and the Board of Directors, the CEO will be accountable for
setting, planning and delivering strategic objectives which will ensure the Centre develops a global footprint
and brand.
Main responsibilities
The CEO will be responsible for:
Mission and Purpose
• The CEO will be the visionary leader and inspiring custodian of the GOFCoE mission and
vision, ensuring robust implementation and development towards Open Life.
Global Open Finance Centre of Excellence: CEO
Optimising Business Plans and Operational Delivery
• Ensure the Centre’s long term financial sustainability through the development of a robust
business plan and programme of work that can secure appropriate funding contributions
from across the private public and philanthropic sources.
• Building the organisational and management structure to ensure effective operation of the
business.
• Lead the GOFCoE team to ensure focus on achievement of the objectives of the Strength in
Places Fund grant and alignment with the University of Edinburgh Data Driven Innovation
Programme.
• Ensure the Centre’s credibility with respect to ethics, public trust and delivery of mission &
vision with regard to social and environmental impact.
• Ensure via the executive committee, efficient, effective and appropriate governance,
compliant with the requirements of public funding including the Strength in Places fund
grant and stakeholder agreements.
• Provide leadership to the Centre’s team, including direct line management of the senior
management team, provide oversight of the management of all other staff and ensure a
collaborative, high performance workplace culture.
• Ensure the performance and training of every member of staff is actively managed to
strengthen both the Centre’s effectiveness and the individual’s personal development.
Leading External Partnerships
• Build and maintain external strategic relationships locally, nationally and globally to ensure
GOFCOE builds credibility in the financial services and fintech markets, including wider
relationships with governments, regulators, academics and charities.
• Meet the Strength in Places Fund grant requirements through impactful collaborations with
partner organisations that drive innovation and lead to growth of Edinburgh and Scotland’s
Financial Services and Fintech sectors.
• Develop and nurture the relationships between GOFCoE and its partners the University of
Edinburgh, Fintech Scotland and FDATA.
Equality Diversity and Inclusion
• Create an inclusive environment that fully harnesses the benefits of a diverse team and
encourages all members to contribute and constructively challenge assumptions and
perspectives. Set the Equality, Diversity and Inclusion tone across the organisation by
keeping it on the Management team agenda, asking the right questions and monitoring the
relevant data.Global Open Finance Centre of Excellence: CEO
Global Open Finance Centre of Excellence: CEO
THE PERSON
Candidates invited to interview will need to evidence that they meet the following essential criteria:
Skills and Experience
Experience – sectors and levels
The ideal candidate will have diverse experience, including significant business experience in a senior
position in Financial Services and supported by demonstrable expertise in data driven innovation, research,
trust, and associated governance controls. Business experience is likely to include:
• Management of substantial collaborations within the data driven economy, ideally well versed in data
science including the interface between academia, industry and government.
• A good understanding of the connection between financial services innovation and the future policy
agenda.
• Aware of the political and economic landscape with the ability to cultivate relationships and convene,
facilitate, influence and build consensus among diverse individuals.
• The ability to adapt to economical and societal changes and to reprioritise or initiate GOFCoE
capability to meet changing demands.
• Successful working within regulatory environments with governance controls.
• Working across sectors and/or geographies with the ability to establish effective stakeholder
relationships to achieve significant outcomes and impacts.
• Excellent communication and networking skills with the ability to build trust and credibility at all levels.
• Experienced in managing uncertainty and change.
Leadership
• Strong leader with proven ability to lead and motivate people, with a positive and resilient attitude.
• Commitment to public trust, privacy and high ethical standards.
• Commitment to equality and diversity in the workplace.
Commercial
• Demonstratable evidence of leading a team to build a credible business plan which delivers impactful
business outcomes.
• Direct experience of obtaining significant private or public sector funding.
• Experience of generating demonstrable impact from research and promoting the impact of research
beyond academia.
Comms/networking/stakeholders
• Excellent communication and interpersonal skills with ability to build trust and credibility at all levels.
• Strong networker (with a good existing network in Financial services, Fintech and/or Academic
community) who recognises the importance of making connections and building relationships.
• Media and press experience.Global Open Finance Centre of Excellence: CEO
Personal Attributes
Ideal candidates will also have the following personal attributes:
• A passion for open finance and its capacity to improve people’s lives.
• Motivated by the opportunity to ambitiously grow the Centre and maximise its impact.
• Critical thinking and problem-solving skills with experience of strategy formulation.
• Personal qualities of integrity, credibility, independent judgement and a passion for improving lives
through innovation.
• The ability to build connections, influence and persuade at a senior level, building consensus with a
range of internal and external stakeholders.
Dimensions
The Global Open Finance Centre of Excellence will be temporarily accommodated in the Bayes Centre,
University of Edinburgh and will move to the Edinburgh Futures Institute, University of Edinburgh in the longer
term.
Additional Information
Further additional information is available to potential candidates on the GOFCoE website:
www.globalopenfinance.comGlobal Open Finance Centre of Excellence: CEO
Global Open Finance Centre of Excellence: CEO TERMS OF APPOINTMENT Reports: Independent Chair and Board of Directors Remuneration: Competitive HOW TO APPLY Saxton Bampfylde Ltd is acting as an employment agency advisor to Global Open Finance Centre of Excellence on this appointment. Candidates should apply for this role through our website at www.saxbam.com/appointments using code XAEUF. Click on the ‘apply’ button and follow the instructions to upload a CV and cover letter, and complete the online equal opportunities monitoring* form. The closing date for applications is noon on 21st July 2021. * The equal opportunities monitoring online form will not be shared with anyone involved in assessing your application. Please complete as part of the application process.
Global Open Finance Centre of Excellence: CEO Saxton Bampfylde LONDON 9 Savoy Street London WC2E 7EG EDINBURGH 46 Melville Street Edinburgh EH3 7HF saxbam.com Partners in Panorama - Search around the world panoramasearch.com
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