Senior Prudential Policy Associate

2 weeks ago

London, United Kingdom Financial Conduct Authority Full time

The Role

We are recruiting for two Senior Associates to join our Prudential Policy team.

The FCA’s Prudential Policy team develops, implements and maintains the FCA’s prudential regimes. This places us at the forefront of developing prudential standards for non-banks and non-insurers. These regimes cover a wide variety of business models, from some of the world’s most well-known investment firms through to non-bank lenders, mortgage and insurance intermediaries, and financial advisers.

We work with our supervisory colleagues to improve internal and external understanding of the regimes, and the importance of financial resilience to driving the FCA’s mission. This reduces the risk of harm to consumers and to market integrity. It does this by reducing the risk that firms are incentivised to engage in poor conduct to drive returns, that firms do not have capacity to pay redress, or that in failure they cause disruption to market functioning.

The FCA is the largest prudential regulator in Europe by the number of firms authorised. We recently introduced a new prudential regime for MiFID investment firms. We are currently working on introducing new prudential regimes such as for firms that undertake certain activities involving stablecoin.

The Prudential Policy team sits in the Prudential & Redress Policy department, within the FCA’s Supervision, Policy and Competition function.

What does the role involve? What are the key responsibilities?- Contributing to the development and introduction of regulatory rules applicable to firms undertaking certain activities involving stablecoin in line with expected forthcoming Government legislation in this area.- Supporting our implementation of the UK Investment Firms Prudential Regime, a major new prudential regime that is transforming the prudential regulation of investment firms and will act as a flagship as we update our other regimes in the coming years- Developing and updating our other prudential regimes to reflect the organisation’s mission and business priorities, market developments, changes in the regulatory perimeter, and/or stakeholder feedback on the effectiveness of the regimes- Supporting the work of supervision as they look to address specific financial resilience challenges and prepare for and undertake firm-specific assessments- To represent and promote the FCA and its prudential objectives and standards in relevant domestic and international groups and forums

This is an incredibly interesting time to join the FCA’s Prudential Policy team. You will get the opportunity to:
- Gain exposure to new FCA prudential rules, such as the Investment Firms Prudential Regime and for the treatment of certain stablecoin activities- Help shape the post-Covid, post-Brexit regulatory framework for over 46,000 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 creative thinking and problem solving are essential- Work with and influence a range of industry professionals both inside and outside the FCA- Work in a stretching environment, to grow your expertise at Europe’s largest prudential regulator

Skills/Experience Required

Minimum- Proven analytical skills with experience of rapidly assimilating new facts, understanding complex issues, and conveying their implications in a concise manner- Experience of dealing with policy issues relevant to regulated industries

Essential- A self-starter with the ability to work independently to deliver key workstreams with limited oversight- Experience in managing a variety of competing high profile tasks with challenging targets under pressure, prioritising appropriately and escalating where necessary- Experience in financial services policy development and/or analysis at a UK or international level and/or experience in accounting/auditing/actuarial or balance sheet assessment

Desirable- Proven understanding of the FCA processes, regimes or rule-making, or those of other financial services regulators- Capability to develop strong working relationships with internal and external stakeholders at all levels, and to provide constructive challenge to such stakeholders- A proven ability to work effectively as part of a team and to support and assist others- Experience of presenting key messages to senior leaders clearly and succinctly through both oral and written channels

About the FCA

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'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.

Useful Information- This role is graded as Senior Associate, Regulatory- Applications for this role close

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