FSCS's governance and strategic direction is the responsibility of its Board of Directors. Under the Financial Services & Markets Act 2000 (FSMA), the UK regulators (the Financial Conduct Authority and the Prudential Regulation Authority) appoint the directors on terms that ensure they run FSCS independently of the UK regulators. The Chair and Chief Executive Officer's appointment (and removal) are subject to Treasury approval.
FSCS is independent of the UK regulators, although accountable to them.
The FSCS Board carries out formal and rigorous evaluations of its own performance, and that of its committees, usually once a year. These evaluations are externally facilitated every three years. Here is a summary (pdf 0.1MB) of the external evaluation.
The Board also has a formal schedule of matters reserved (pdf 0.1MB) for its decision and has delegated certain responsibilities to committees of the Board.