Director of Finance & Resources at Greenwich & Bexley Community Hospice (GBCH), Victor D’Arcy Smith FCCA MIoD, has been invited and has joined the Bank of England Decision Maker Panel.
Victor said: “We are really excited that the Bank of England has invited us to take part in this panel as a charity that has experienced the extremes that the pandemic has thrust on charities, businesses and the community.
“The Decision Maker Panel (DMP), first set up in August 2016 by the Bank of England, Stanford University and the University of Nottingham, provides direct insight into business expectations and uncertainty, for example, Covid-19 and Brexit. We’re excited to contribute and to provide a clear picture of the challenges experienced by those on the ground.”
The DMP draws information from Chief Financial Officers (CFO) from small, medium and large UK businesses. Their views are secured each month and the Bank of England uses this to monitor developments in the economy and to track business’ views.
Representing the Hospice movement and GBCH, it provides Victor as CFO, the opportunity to contribute to public policy. Information from the DMP is incorporated into key decisions made by the Monetary Policy Committee e.g. surrounding interest rates.
Victor added: “The inclusion of GBCH on the DMP means we answer set questions each month to provide a snapshot of the state of our industry when it comes to recovery, growth, and the challenges we face. The pandemic has hit many hard, including our community, so anything we can do to aid faster recovery of the economy is a positive.”
Victor joined GBCH in December 2020, at a time when the coronavirus pandemic was really hitting hospices and charities hard.
His significant international commercial experience gained in entrepreneurial businesses coupled with extensive experience within the charity sector at senior management level, means he is well placed to act as an agent to the panel and its aims. As European Finance Director, Victor has presided over the financial management of some leading pharmaceutical research companies in Europe during a time of substantial growth in headcount, revenue, and profitability.
He brings a wealth of experience from such bodies as Syneos Health, The Children’s Society, Médecins Sans Frontières and more.