The Role  

Are you interested in identifying potential sources of harm to both consumers and markets?  Are you interested in limiting the potential for harm?  The Financial Resilience Department (FRD) are seeking individuals who whilst developing their financial analysis skills, will help the department’s assessment of financial resilience through to comparing the financial resources and controls in firms to the risks inherent in their business models.  FRD’s mission is to provide high quality financial analysis of the firms we regulate, and support the FCA more broadly, to meet its objectives.  

There are five teams in the department who work closely together to provide high quality assessments of the firms and markets regulated by the FCA. Two teams focus on assessing portfolios of firms and addressing financial resilience issues as they arise. Two teams focus on the financial resilience of a cohort of significant firms.  The fifth team is responsible for our data, analysis and structured finance work.

We have roles available in the four teams focussed on the financial resilience of firms.  All roles will involve financial analysis, assessing business models and controls and influencing firms to lessen the potential for harm.

We are open to considering flexible working arrangements. 

What does the role involve? What are the key responsibilities?  

Senior Associates in the department are responsible for:

• Leading and supporting financial resilience assessments and/or analyses of FCA solo-regulated firms.  FCA solo-regulated firms represent a wide variety of business models across a wide array of financial products and services.
• Role modelling Judgement, Engagement, Delivery and Self-Management and the FCA values
• Ensuring we are efficient in delivering high quality assessments/analyses on time.
• Dealing with queries from firms and supervisors.
• Providing coaching and support to other associates in the department.

What will I get from the role?  

This is an incredibly interesting time to join the FCA’s team of prudential experts. You will get the opportunity to:

• Help shape the post-Covid, post-Brexit regulatory and supervisory framework for 49,000 financial services firms in the UK.
• Contribute to a challenging and varied portfolio of work, working on high-profile issues, in an intellectually stimulating environment where creating thinking and problem solving are essential.
• Work with and influence a range of industry professionals both within and outside the FCA.
• Work in a stretching environment, to grow your expertise at Europe’s largest prudential regulator.

About You

Minimum

We’re a signatory to the Government's Disability Confident scheme. This means that we will offer an interview to disabled candidates entering under the scheme, should they meet the minimum criteria for a role. A minimum criterion needs to be measurable from reviewing a candidate’s CV. Exceptions may apply if due to the volume of applications we are not able to interview all eligible candidates who qualify under the scheme.

• Experience of at least one business model of the firms we regulate
• Experience analysing the risks within at least one business model in the financial services industry

Essential

• Ability to explain how the risks impact the financial resources of the firm
• Proven experience of:
• Risk management
• Supporting the delivery of projects to time and quality
• Analysing and assessing information  and providing a considered view both orally and in writing.
• Working in a team.
• Ability to manage key stakeholders, building rapport and constructive relationships

Desirable

• Influencing individuals at firms with integrity and ensuring consistent outcomes across firms with similar business models
• Understanding the FCA's approach to the regulation of financial institutions.
• Stress-testing experience

About Us

At the FCA, we’re creating a fair and more resilient financial system. We’re establishing more transparent relationships between financial services and their customers, building trust in financial markets and protecting vulnerable consumers.

The FCA is the prudential regulator of 49,000 financial services firms. We want resilient firms who have financial resources that are commensurate to their activities and that minimise the potential for harm – both in life and in failure. Firms will fail, but firm failure should not be unexpected and should be orderly. 

The Financial Resilience Department (FRD) is one of the specialist departments in the FCA. FRD’s mission is to provide high quality prudential expertise across all sectors, and support the FCA more broadly, in seeking to assess and mitigate the prudential causes of harm. Through this we deliver public value.

We deliver on our mission by focussing on firms with the greatest potential for harm, high risk portfolios and firms close to failure. We do this through using data and analysis to identify risks across the 49,000 firms and by assessing the adequacy of firm's financial resources – both through individual firm assessments and cross firm work.

The FCA's Values & Diversity  

Our ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator.

As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

Useful Information  

• The job family for this role is Senior Associate - Regulatory
• The FCA has a national role and is committed to a national footprint.  This role can be based in London or Edinburgh 
• The FCA has London and National Pay ranges to reflect regional differences.  The salary for this role will be:
• London – up to £75,000
• Edinburgh – up to £67,5000
• Applications for this role close on 30th May 2022
• If you are an internal candidate and interested in learning more about the role please contact Linda Bradley.
• If you are an external candidate and interested in learning more about the role please contact chhavi.bartaria@fca.org.uk