xxx

Lucy McClements

  • Board Systems & Effectiveness
  • Building Societies
  • Chartered Certified Accountant
  • Payment Services & e-money
  • Regulation
  • Regulatory Authorisation & Approval
  • Senior Management Systems & Controls
  • SMCR

Beginning her career at the Bank of England, Lucy has over two decades of experience in UK financial services. She has undertaken supervisory oversight of thousands of regulated firms across all sectors (banking, insurance, investment firms, payment services/e-money, and consumer credit), and was a senior decision maker on applications for regulatory authorisation and Approved Person/ Senior Manager status. Since leaving the FCA in 2016 she has built a portfolio of consulting and Non-Executive positions requiring diplomatic yet robust challenge on matters of regulatory interest specifically:

  • Senior management arrangements, systems and controls (including organisation of three lines of defence, adequacy of management information and reporting, approach to risk management, conflict management etc)
  • Board Effectiveness
  • Fitness, propriety, competence, and capability of individuals (Senior Managers & Certifications Regime etc)
  • Assessment of a firm against the FCA/PRA Threshold Conditions

Currently Lucy provides consulting advice to individuals seeking PRA/FCA approval, and financial services firms on the adequacy of their governance and high-level control frameworks. An independent NED at a Building Society and E-money institution she is a Fellow of the Association of Chartered Certified Accountants (ACCA) and qualified Executive Coach.