Salary: National £65,200 to £98,000 and London £67,900 to £108,000
Are you interested in playing a key role in supervising wholesale banks operating in the UK? If you are, then this could be the role for you.
The Team/Department
The Wholesale Banks Sector Team is responsible for supporting the supervision of the Wholesale Banks portfolio. We identify risks in the sector, undertake analysis of firms’ business models, identify market trends and perform proactive supervisory work to identify the breadth and depth of issues.
We respond to risk events, such as market disruption or political events, by assessing the impact on firms and identifying appropriate strategies to reduce the impact on consumers and markets. We also work to imbed new policy or regulatory initiatives and ensure that firms are meeting the ever-evolving expectation on them.
We place a high priority on open and cooperative working, both with our internal and external stakeholders.
What you will be doing
We are looking with candidate with a solid analytical understanding of wholesale banking business models and the markets in which they operate, including their relationships with other financial services firms and market structures. You should understand the conduct regulations that apply to wholesale banks and how they impact our goals.A strong knowledge of wholesale banking business activities and products is required as well as practical market experience and the ability to analyse risks in the sector.
The key responsibility will include
1. Continuous monitoring of wholesale banking market trends and developments
2. Reacting to market events with ability to work under pressure, engaging with firms at a senior level and reporting senior stakeholders on developments
3. Undertaking analysis firms’ business models and using that analysis to anticipate where risks may be building in the sector
4. Leading multi-firm projects that investigate and diagnose conduct risks in wholesale banks
5. Building constructive working relationship with other authorities in the official sector (UK and international) and industry stakeholders to understand and resolve challenges
6. Representing the team in a professional manner with internal and external stakeholders, providing an effective and constructive liaison point within the department, across the FCA and externally
7. Contributing to and overseeing the preparation of internal and external communications to ensure our messages are conveyed clearly and well-understood by our audience
What will you get from the role
8. Be at the centre of wholesale markets events and the response from UK authorities to those mitigate the impact of events
9. Represent FCA externally to industry leaders including regulated firms, trade bodies, overseas regulators and industry standard setters
10. Use your analytical skills to identify key trends in wholesale banking and wholesale financial markets and build strategies that can mitigate the risks to consumers and markets
11. Using leadership skills deliver against the department’s goals, and ultimately deliver against the FCA’s strategy and business plan commitments and core objectives
Our competitive flexible benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can use this allowance to purchaseadditional benefits such as dental or cycle to work or you have the option top up your base salary by taking this as cash.
Core benefits that you will receive as standard are:
12. 28 days holiday per year plus bank holidays
13. Private healthcare with Bupa
14. A non-contributory Pension of at least 8% of basic salary each month (there are several contribution levels that increase depending on your age – up to 12% a month once you reach age 35)
15. Life assurance of eight times your basic salary
16. Income protection
We support hybrid working which means you will be able to work from home up to 60% of the time over a month with the remainder of your time in one of our three office locations.
The skills and experience you will have
Minimum
We are 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.
17. Experience of how UK wholesale markets operate with in-depth understanding of equities, fixed income, rates, derivatives or commodities markets and the services that support them, such as prime broking
18. Previous experience of analysing and understanding market developments and complex wholesale markets issues and communicating the key facts and recommended actions to stakeholders
Essential
19. In-depth knowledge of the wholesale banking business model
20. Experience of leading projects and oversight of colleagues’ contributions and performance markets
21. Good understanding of the UK and EU regulatory architecture
22. Strong analytical skills, with the ability to quickly get the heart of complex issues
23. Able to gain knowledge and understanding of new subject areas quickly and independently
24. Able to build strong relationships and influence colleagues, senior management and external stakeholders
25. Excellent communication skills and the ability to draft complex written communications
26. Able to plan and execute projects and longer-term workstreams
27. Work effectively as part of a team and motivate colleagues by working inclusively
About the FCA
The FCA regulates the conduct of 50,000 firms in the UK to ensure our financial markets are honest, fair and competitive. We do this to make sure markets work well for individuals, businesses and the economy as a whole. For more information on what we do, our three-year strategy can be found here.
The FCA's Values & Diversity
Our ambition is to cultivate a culture of inclusion for all employees that respects their individual strengths, views, and experiences. 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.
The FCA is committed to achieving greater diversity across all levels of the organisations. Given this, we particularly welcome applications from women, disabled and minority ethnic candidates for our Technical Specialist role.
Flexible working
We welcome applications from candidates who are looking for flexible arrangements. Many of our staff work flexibly including working part-time, staggered hours, and job shares. We can’t promise to give you exactly what you want but we won’t judge you for asking.
Multi-location
As part of the FCA’s on-going commitment to develop our national presence, most of our vacancies are now open to working in our Edinburgh, Leeds, or London offices. This means that as part of the application process you will be able to select your preference of which office location you would like to work from.
Useful information
28. Applications for this role close at on 6th May 2024
29. This role is graded as Technical Specialist - Regulatory
Got a question?
If you are interested in learning more about the role please contact:
For internal applicants, please contact Linda Bradley at k
For external applicants please contact Aaron Ward at k
What to expect from our interview process
If your application is successful you will be invited to a 1 hour competency based interview. Interviews will take place on the 15th and 16th May 2024.
Application support
We want to remove any possible barriers and are committed to providing a wide range of reasonable adjustments so that you can keep the focus on your conversations and be at your best.
If you have an accessibility requirement, disability, or condition that means you might require changes to the recruitment process, please contact your recruiter to discuss this further. Our aim is to make your application as easy and comfortable as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.