Job Title: Custody Banks & Asset Management Supervision Associate
Division: Supervision, Policy and Competition (SPC)
Department: Market Interventions - Alternatives
1. Salary: National (Edinburgh and Leeds) ranging from £43,100 to £50,266 and London from £47,300 to £55,116 per annum (salary offered will be based on skills and experience)
2. This role is graded as: Associate level 8 – Regulatory
3. Your recruitment contact is Shafika via k. Applications must be submitted through our online portal. Applications sent via social media or email will not be accepted.
About the FCA and team
We regulate financial services firms in the UK, to keep financial markets fair, thriving and effective. By joining us, you’ll play a key part in protecting consumers, driving economic growth, and shaping the future of UK finance services.
SPC oversees firms and individuals (supervision), creates and reviews the rules by which they operate (policy) and identifies and remedies ineffective competition in markets (competition).
Sitting within the Buy-Side Directorate, the Market Interventions (MI) – Alternatives Department supervises a broad range of alternative investment firms, from private equity to real estate and infrastructure, using data-driven supervision and collaboration with industry to address key harms and support sustainable market growth.
Our team supervises over 100 bank-owned asset managers, standalone custody banks, depositaries and fund service providers. These include some of the world’s largest asset managers by AUM and global systematically important banks (G-SIBs).
The team’s role involves the assessment of a diverse and interesting set of supervisory and market issues. We develop and deliver assertive supervision strategies that have a meaningful impact on mitigate key risks in the sector, reacting to emerging issues and market events, preventing serious harm to consumers and financial markets, as well as promoting competition and growth. The work is challenging, rewarding and impactful.
Role responsibilities
4. Analyse firms’ business models and strategies to identify key risks of market and consumer harm, demonstrating clear analytical insight through informed assessments
5. Support the design and delivery of supervision strategies by applying a broad suite of supervisory tools to deliver effective regulatory outcomes
6. Engage with diverse stakeholders to communicate expectations, gather market insights and encourage better conduct through sound judgement and clear communication
7. Contribute to thematic reviews and sector-wide projects that address emerging and priority risk areas across the industry
8. Collaborate with internal groups across policy, authorisations, financial resilience, technical and enforcement functions to improve supervisory insight and operational impact
9. Build relationships with domestic and international regulators, including major global supervisory bodies, to enhance cross‑market understanding and regulatory coordination
10. Gain deep sector knowledge and exposure to rapidly evolving wholesale markets, developing skills through direct involvement in high-profile supervisory work
11. Shape outcomes related to market modernisation, operational resilience, cyber resilience and change management while working within a collaborative team that oversees firms central to UK and global financial markets
Skills required
Minimum:
12. Demonstrable experience of reviewing, investigating, and assessing information from various sources to make sound judgements
13. Experience in managing engagements, communicating with a broad range of stakeholders and delivery against challenging targets
14. Familiarity with wholesale market issues either through direct work experience or interest
Essential:
15. Solid understanding of the FCA’s role in maintaining fair and effective financial markets, paired with a commitment to the organisation’s purpose and the motivation to contribute effectively
16. Awareness of the legal, regulatory and organisational environment in which asset management, custody and fund services firms operate, enabling informed and context‑driven decisions
17. An engaged, proactive and collaborative colleague who takes ownership of tasks, works effectively with others, delivers purposeful output at pace, and remains comfortable operating both on their own and collaboratively to reach shared objectives
18. Demonstrated ability to acquire necessary knowledge, fill knowledge gaps, develop new capabilities and take on additional responsibilities as required
19. Interpersonal skills and the ability to build and sustain trusted relationships with a broad range of internal and external stakeholders, supported by effective verbal and written communication that explains complex issues clearly, influences decisions purposefully and delivers strong/sensitive messages appropriately
20. Solid problem-solving capability, disciplined self-management, good listening skills and sound judgement to explore options, make timely well-reasoned decisions, deliver practical solutions and offer constructive challenge where appropriate
21. Confidence to operate and advocate clearly in an environment characterised by uncertainty, complexity and frequent shifts, managing competing priorities while supporting and responding to challenge in a constructive and outcome-focused manner
Benefits
22. 25 days annual leave plus bank holidays
23. Hybrid model where employees work a minimum of 40% in the office each month (expectation of 50% for senior leaders). Changing from September to a minimum of 50% in the office each month (expectation of 60% for Directors and Executive Directors)
24. Non-contributory pension (8–12% depending on age) and life assurance at eight times your salary
25. Private healthcare with Bupa, income protection, and 24/7 Employee Assistance
26. 35 hours of paid volunteering annually
27. A flexible benefits scheme designed around your lifestyle
For a full list of our benefits, and our recruitment process as a whole visit our benefits page.
Our values & culture
Our colleagues are the key to our success as a regulator. We are committed to fostering a diverse and inclusive culture: one that’s free from discrimination and bias, celebrates difference, and supports colleagues to deliver at their best. We believe that our differences and similarities enable us to be a better organisation – one that makes better decisions, drives innovation, and delivers better regulation.
If you require any adjustments due to a disability or condition, your recruiter is here to help - reach out for tailored support.
We welcome diverse working styles and aim to find flexible solutions that suit both the role and individual needs, including options like part-time and job sharing where applicable.
Disability Confident: our hiring approach
We’re proud to be a Disability Confident Employer, and therefore, people or individuals with disabilities and long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. In cases of high application volumes, we may progress applicants whose experience most closely matches the role’s key requirements.
Useful information and timeline
28. Advert Closing: 21st April 2026
29. CV Review/Shortlist: 23rd April 2026
30. Screening Call: 30th April 2026
31. First Stage Interviews W/C: 4th May 2026
32. Your Recruiter will discuss the process in detail with you during screening for the role, therefore, please make them aware if you are going to be unavailable for any date during this time.