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Lucy McClements

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

Lucy McClements began her career at the Bank of England and 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 firm authorisation and had Approved Person/Senior Manager status. Since leaving the Regulators 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 reporting, approach to risk management, conflict management, etc)

• Board Effectiveness

• Fitness, properness, competence, and capability of individuals (Senior Managers & Certifications Regime etc)

• Assessment of a firm against the FCA/PRA Threshold Conditions

An independent NED at a Building Society and Board Member of the Isle of Man Financial Services Authority, she is also a Fellow of the Association of Chartered Certified Accountants (ACCA) and qualified Executive Coach.