Model Risk - Senior Associate
Division: Risk and Compliance Oversight
Department: Enterprise Risk Management
1. Salary: National (Edinburgh and Leeds) ranging from £53,800 to £67,200 and London from £59,200 to £73,800 (salary offered will be based on skills and experience)
2. This role is graded as: Senior Associate, Regulatory
3. Your external recruitment contact is Raimonda at k.
4. Your internal recruitment contact is Fizah via k.
5. 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.
The Risk & Compliance Oversight Division (R&CO) is the FCA’s second line of defence, responsible for the Risk Management Framework, organisation‑wide risk oversight and reporting, regulatory investigations, compliance oversight and complaints.
Role responsibilities
6. Contribute to the development and embedding of the model risk management framework, supporting training, communication and adoption across the FCA
7. Provide oversight, guidance and constructive challenge to first line of defence (1LOD) model development and governance activities
8. Work closely with modelling teams to support model risk assessments, evaluate controls, advise on validation approaches and help ensure model inventory data is accurate and complete
9. Support assurance activities such as independent model validations and thematic reviews
10. Support the maintenance and ongoing development of the FCA Model Inventory, including contributing to data analysis and reporting for senior stakeholders
11. Work collaboratively with R&CO colleagues to stay informed on developments across risk and contribute to updates on internal AI and model risk
12. Build and maintain a network across key 1LOD areas Advanced Analytics, Data Management, AI Governance) and stay up to date with developments in AI and Model Risk Management
13. Adhere to the FCA values and ways of working in the delivery of outcomes
Skills required
Minimum:
14. Experience delivering modelling, machine learning, or data science projects
15. Experience contributing to the implementation of a model risk framework, including supporting training, guidance, or communications
16. Practical coding experience in Python, SQL, or R
Essential:
17. Good knowledge of a range of modelling and machine‑learning techniques
18. Interpersonal skills, with the ability to provide clear, balanced and practical advice
19. Experience working with stakeholders, with the confidence to engage effectively across different teams
20. A collaborative approach, building positive working relationships to reach shared outcomes
21. Good organisational skills, with the ability to manage competing priorities and deliver high‑quality work to deadlines
22. Problem-solving ability, applying sound judgement and making evidence-based recommendations
23. Able to adjust and work effectively in a changing environment
Benefits
24. 25 days annual leave plus bank holidays
25. Non-contributory pension (8–12% depending on age) and life assurance at eight times your salary
26. Private healthcare with Bupa, income protection and 24/7 Employee Assistance
27. 35 hours of paid volunteering annually
28. 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)
29. 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 and 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 timelines
Timeline:
30. Job advert close: midnight, 15th June 2026
31. CV Review/Shortlist: 17th June 2026
32. Interview: w/c 22n June 2026
33. 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.