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Martin Coppack, Development Manager Financial Capability, Independent Watchdog the Financial Services Authority (FSA), London

What are the central elements involved in your role?

I am a development manager in the Financial Capability department and also have a technical specialist role - advising senior management on the consumer sector and financial capability. I am currently responsible for the management of the FSA Innovation Fund. This is a pot of money which exists to encourage voluntary and community organisations to implement innovative ways to help people become more financially capable and to help them with making ends meet; keeping track of finances; planning ahead; choosing financial products; and staying informed about financial matters. To help ensure the best conditions for reaching larger numbers of people, the FSA development team continuously works with each project on monitoring and to help make links with relevant national bodies to ensure good practice and toolkits are shared nationally, wherever possible.

Does the Innovation Fund apply in Northern Ireland?

Several of the Fund’s first round projects are now reaching maturity and are likely to be taken up nationally, including one in Northern Ireland. This local scheme created a new self-help booklet and website (http://www.dealingwithcancer.co.uk/) for cancer sufferers, their carers and the advice community, and has been created by the Omagh Independent Advice Services (OIAS). We are about to begin work to promote uptake of this information across the UK, so other cancer charities can make use of this initiative. We will also be investigating synergies with other illness charities to promote uptake in the non-cancer field and therefore make optimum use of the outputs from this project. In October 2006, the website and booklet were successfully launched in Omagh and by the end of their first month OIAS had 1,668 hits on their website.

How did your educational path lead to your current post?

I decided to pursue a career in consumer sciences after realising as a child that, for me, home economics was the most useful subject at school because it was relevant to everyday life. Following my A levels, I studied human ecology and then went on to complete a postgraduate Certificate in Further Education; before teaching at Newcastle College and studying part time for a diploma in special education and a certificate in teaching basic skills. A stint in the USA allowed me to complete an MSc in consumer studies and work at various organisations before returning to the UK and taking up a role at the National Consumer Council (NCC). I had a brilliant time at NCC where a mixture of guidance and autonomy allowed me to develop policy development skills and to move up the promotional ladder to become a senior member of policy staff. After four years I moved to the FSA and joined the Financial Capability team in January 2004.

What key qualities are beneficial in doing your job?

Absolute focus on getting results for people in the real world and making a real difference to everyday people. Flexibility is key to everything my team and I do. I need to understand the needs of consumers, which we target via different sectors and their intermediaries, such as social housing workers, offender management workers and Mencap clients. I must then communicate and broker relationships so that their needs are met and addressed – mainly regarding education, information and generic advice. Working for a regulator it is important to understand both sides of the consumer/provider arguments too.

Do you think financial providers should take more responsibility for the current debt issues?

I think both consumers and financial providers have a responsibility here.  In the secured credit market, for example, there are strict rules and regulations and the financial services sector has a duty to meet these rules. It's in the interest of all to treat customers fairly.

What aspect of your job do you find most challenging/enjoyable?

I absolutely love my job. I love the variety and autonomy that I have. I enjoy the fact that I can see real outcomes – making a real difference to communities that need help to become more financially capable. The breadth of sectors I work across makes learning and working effectively with them all a challenge, but this also adds to the excitement. I enjoy working with dedicated staff and helping them develop too; I think it’s the ex-teacher in me! I also enjoy the fact that my work is about creating ‘bottom-up’ policy change rather than ‘top-down’.

Does FSA and the Consumer Council have collective objectives?

Absolutely. We are both interested in getting a fair deal for the consumer.

Plus the financial capability department has a very close relationship with the Consumer Council and we are currently working with them to fund a post in Northern Ireland to champion and co-ordinate financial capability across the country.

What major goals do you have for the future?

Well, at the moment I have an extremely challenging job. I have new staff to mentor and develop and am fully engaged with this. However, I want to continue to develop myself and am interested in gaining more knowledge and experience of the private sector approach to areas like corporate social responsibility and grant-giving. I am also looking for opportunities to increase my knowledge and expertise in general community project development and influencing policy from the bottom up. I think I'd like to get more involved in university curriculum design and validation too, within consumer studies if the opportunity came up.

And outside of work?

I enjoy walking, going to coffee shops and eating good food with good company. I really enjoy the more bohemian areas of London but also like to travel abroad too. I am a consultative board member of Young Scot, the national youth information agency for Scotland; a peer reviewer for an international consumer research journal and also take time out of work to do the odd bit of consultancy, if interesting opportunities come up. The last two consultancy jobs had me advising the national consumer agency for Lithuania and more recently the Bank of Trinidad and Tobago.