Strategic Innovation Director
Role: Strategic Innovation Director
Company: FinTech Scotland
Reporting to: The Chief Executive Officer
Thank you for your interest in this new and vital position at FinTech Scotland. We are at an exciting stage in the evolution of fintech in Scotland and across the UK. Our work at FinTech Scotland plays an important role, helping the financial services industry unlock the potential from fintech innovation, and by creating an environment that enables fintech innovators and entrepreneurs to flourish.
This role will be responsible for leading and evolving the innovation strategy outlined in the FinTech Research and Innovation Roadmap. The immediate focus is to establish the Financial Regulation Innovation Lab, working with fintech leaders, financial services and professional services institutions, and regulators, to accelerate fintech innovation in financial regulation.
This appointment is important. It will drive the strategic direction of fintech innovation in Scotland, working across all priority stakeholders and alongside FinTech Scotland’s CEO to advance the fintech opportunity in Scotland and the UK.
FinTech is shaping the future of financial services radically changing the way people and businesses engage with money.
It’s a permanent, technological revolution that is changing the way finance is done across the UK and across the world.
It includes both new innovators developing fast growing fintech companies, as well as the investment and adoption of technology in the established financial institutions and finance brands we’re familiar with across the world.
FinTech is about change! It’s about asking how the future of finance should be.
And most importantly fintech is about delivering better financial outcomes for customers, especially consumers and SMEs. It enables us to build a future of finance that empowers citizens and businesses well as developing new financial products that help address societal issues such as climate change and financial inclusion.
It also includes the future of how we regulate, working to set the standards needed for a confident financial system that includes new applications of technology.
FinTech presents a significant progressive force for the future digital economy.
FinTech Scotland, is an independent cluster body, established in 2018 through a joint agreement with the Financial Services sector, Universities in Scotland, and Scotland’s Enterprise agency to work as a strategic leadership organisation working to ensure Scotland and the UK effectively seizes the opportunities FinTech presents for positive economic and social outcomes.
Our purpose is to bring together an ecosystem of committed participants, including entrepreneurs, financial and professional service industry, academia, consumers, and policy makers to enable greater collaboration and accelerate opportunities from fintech innovation.
FinTech Scotland’s strategic aim is to support Scotland and the UK economies to benefit from fintech innovation through the development of a globally recognised fintech cluster of excellence that drive collaborative initiatives that embrace diversity to advance a future of finance that serves the wider digital and a sustainable economy.
This is delivered through three strategic objectives:
- Support fintech SMEs to grow and scale, enabling entrepreneurial business development.
- Accelerate fintech adoption across financial services, through impactful collaboration with the large financial institutions.
- Build an inclusive and internationally recognised FinTech Cluster
Underpinning this is FinTech Scotland’s innovation strategy, which is driven by industry priorities, incorporating the views across the cluster, and outlined in the FinTech Research and Innovation Roadmap. The strategic objectives and the innovation strategy shape and catalyse a range of initiatives and collaboration across a wide range of stakeholders, all committed to supporting and accelerating fintech innovation.
FinTech Scotland’s work to date has supported the development of a growing and vibrant fintech cluster, with committed strategic partners contributing to a range of strategic initiatives that continue to benefit the economy through employment, entrepreneurship, innovation and international development.
The leadership and progress were recognised in the Kalifa Review of UK FinTech with Scotland identified as one of the top three fintech clusters in the UK.
The cluster is also internationally accredited, formally recognised by the European Secretariat for Cluster Analysis since 2020, and currently recognised with its silver accreditation for cluster excellence, a first for Europe and the UK.
The Role – Strategic Innovation Director
We are at an important phase in the development of the FinTech Scotland Cluster and are looking for a Strategic Innovation Director to join the leadership team, playing a critical part in the future development of the cluster, building on successes so far and leading the cluster’s innovation strategy and its implementation.
Specifically, the Strategic Innovation Director will initially be responsible for successfully establishing a new fintech centre for innovation that focuses on innovation in Financial Regulation – The Financial Regulation Innovation Lab.
This is a critical project. It is supported by UK Government, large financial and professional service institutions, regulators, fintech entrepreneurs and universities.
The successful candidate will be responsible for
- Leading and implementing a demand led strategy with a sustainable revenue plan for the Financial Regulation Innovation Lab,
- Establishing an industry led programme of work, that will help advance responsible innovation and technology adoption in financial regulation,
- Developing and growing strategic relationships with professional and financial services, regulators and academia, managing multiple stakeholders’ interest with a consensual approach to relationship building
- Leading collaborative cross sectoral actions to advance common opportunities and challenges,
- Supporting delivery of the broader FinTech Scotland strategy
- Working as part of the FinTech Scotland senior leadership team, driving continued fintech cluster excellence
- Working alongside the CEO to shape the future evolution of the FinTech Scotland cluster.
The Candidate Profile
The right candidate will be able to implement an industry led strategy, bringing leadership, and business skills along with the ability to work in partnership with leaders across the cluster to enable the success of the Financial Regulation Innovation Lab.
Given the strategic and action-orientated nature of this role, there are certain characteristics and experiences that will be necessary in potential candidates:
- An understanding and passion for financial innovation, with experience in working within the financial services, technology and/or innovation sectors.
- Experience in moving strategy into implementation, delivery and successful outcomes.
- An experienced track record in building strong relationships with a collaborative style that gains commitment and investment.
- Comfortable in an external-facing leadership role, and a proven communicator.
- Proven negotiator at highest levels, with experience working in an environment where multiple stakeholder interests are managed.
- Strong EQ with maturity, credibility and an engaging, positive personality
- Exposure, and a natural curiosity for the role technology and innovation can play in developing the future of financial regulation.
- A demonstrable understanding of the challenges and trends in the UK fintech and/or financial services sector.
- Excellent networking skills
- Experience of public/private partnerships would be advantageous.
FinTech Scotland is an equal opportunities and inclusive employer. This is a full-time role, with an initial 2-year fixed term contract.
First and second interviews are planned for w/c 15th and w/c 22nd of May. We hope to identify the successful candidate no later than the end of May.
If you’re interested in applying to help us influence the future of fintech innovation click here
Closing date for applications is Thursday 11th of May.