She is the Chairman of the EU Financial Affairs Sub-Committee in the House of Lords.Prior to her ennoblement as a life peer with the title Baroness Falkner of Margravine, of Barons Court in the London Borough of Hammersmith and Fulham on 2 June 2004, Falkner worked in a variety of jobs for the Liberal Democrats in the House of Commons and the party headquarters including as Director of International Affairs and Director of Policy.
She has also worked at the Commonwealth Secretariat and as Chief Executive of Student Partnerships Worldwide.
In February 2008 she was appointed as the inaugural chancellor of The University of Northampton.