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TPR appoints Front-Line Executive Director

Ref: PN16-41
Thursday 28 July 2016

The Pensions Regulator has announced the appointment of Nicola Parish as its Executive Director for Front-Line Regulation.

Nicola Parish has worked at TPR in various roles for eight years, including as Director of Legal Services and Enterprise Risk Management, and her most recent role as Director of Case Management.

As Executive Director she will be responsible for the education and enablement activities of TPR’s Customer Support and Regulatory Transactions teams, risk identification and escalation by Intelligence, and the enforcement interventions of TPR’s Case Management team. She will also be responsible for the delivery by TPR of the new approach to the regulation of master trusts.

Mark Boyle, TPR’s Chair, said: “I’m very pleased to appoint Nicola to what is a pivotal role in TPR. She will be leading a number of teams that see at close quarters the challenges facing the pensions sector. Nicola has a wealth of legal, investigative and regulatory experience, which stands her in good stead, and I look forward to working closely with her on TPR’s Board.”

Nicola Parish said: “I relish the challenge of bringing together our front-line regulatory teams, enabling TPR to use its collective resources as effectively as possible to respond to the emerging risks in the pensions sector. Having worked in regulation for 20 years, I strongly believe in the role that TPR plays supporting pension trustees, sponsoring employers and retirement savers, and I can’t wait to get on with the job.”

Editor's notes

  1. Nicola Parish’s appointment is with the approval of DWP ministers, following an open and robust competition.
  2. Previously she was appointed by TPR as Director of Case Management of TPR in November 2015, having worked as Director of Legal services and Enterprise Risk Management. She began her career in the City as a litigation lawyer for Denton Hall. In 1996 she joined the Securities and Futures Authority as a senior prosecutions lawyer. She later worked in the Enforcement Division of the Financial Services Authority for eight years before joining TPR in 2008 as a litigator.
  3. The Front-Line Regulation Directorate was created as part of a number of changes made to TPR’s structure last autumn in order to increase accountability at senior level for delivering policy and case-based regulatory interventions and improve TPR’s agility and effectiveness as an organisation. Front-Line Regulation has been overseen on an interim basis by the Chief Executive whilst TPR recruited a new Executive Director.
  4. TPR is the regulator of work-based pension schemes in the UK. We have objectives to: protect members’ benefits; reduce the risk of calls on the Pension Protection Fund (PPF); to promote, and to improve understanding of, the good administration of work-based pension schemes; to maximise employer compliance with automatic enrolment duties; and to minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of TPR’s functions under Part 3 of the Pensions Act 2004 only).

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