The new chief executive of the single financial guidance body can expect a salary of £175,000 a year, according to a job advert posted online.
The advert, posted on the Cabinet Office website says applications will close in mid-May with final interviews held in early July. The date for announcing the successful candidate has not been set.
Today, pensions minister Guy Opperman said he hopes the new body, which will combine the Money Advice Service, The Pensions Advisory Service and Pension Wise, will be operational by winter.
The £175,000 packet will be slightly lower than pay for MAS chief executive Caroline Rookes in 2016/17, when she received £185,000.
The panel assessing applicants is Department for Work and Pensions director Charlotte Clark, Treasury director Gwyneth Nurse, public appointments assessor Peter Spencer and the chair of the single financial guidance body, who is yet to be appointed.
The job advert says the chief executive will initially work on setting up the organisation and will work closely with the chair.
Once the guidance body is launched, the chief executive’s responsibilities include leading the transition from three bodies to one, working on strategy, and building relationships with ministers and the DWP.
In the candidate pack, Opperman says the job requires “strong leadership” to establish a new body.
He says: “There are two key challenges for the incoming chief executive. In the short-term, the successful candidate will lead the dissolution of the three existing government-sponsored guidance providers and the transition to a single financial guidance body. In the longer term, the chief executive will lead on the body’s business as usual activity as it delivers on its functions and objectives.”
The government announced in October 2016 it planned to replace the three current guidance organisations with a single body, hoping to achieve efficiency savings.