Critical Third Parties Oversight Associate

4 weeks ago


London, United Kingdom Financial Conduct Authority Full time

Salary: National ranging from £49,700-£65,500 and London from £53,300 -£75,000
- Would you like to play a central role protecting consumers and markets from the impact of technological disruption and cyber attack? Are you interested in joining a high performing team in designing and implementing the FCA’s new oversight of Critical Third Parties and the services they provide to the UK financial services industry?_

We are looking for a talented and committed senior associate, with strong prior supervisory experience, excellent judgement and good stakeholder skills, to join the Technology, Resilience and Cyber Department and shape and implement our approach to Critical Third Parties (CTPs). You will help develop our new regulatory framework for CTPs and then take forward the implementation of our oversight of these third parties. This is an extremely high profile area of work that is central to the FCA’s strategic commitment to minimise the impact of operational disruptions on the financial services industry. You will work very closely with PRA (Prudential Regulation Authority), HMT (His Majesty's Treasury) and a range of stakeholders across the FCA, liaising also with a number of industry bodies and international partners, to minimise the systemic risk posed by UK Financial Service (FS) firms’ reliance upon the services provided by CTPs.

What you will be doing
- Work within a strong and close-knit team of FCA specialists in developing the FCA and PRA’s new joint rules and expectations around Critical Third Parties and the services they provide to the FS sector, including where appropriate AI services
- Put into practice the FCA’s supervisory oversight of Critical Third Parties’ compliance with our rules and expectations, conducting ongoing supervision of your CTPs’ operational resilience and the wider systemic risk they pose to the UK Financial Sector
- Contribute to meetings with senior managers from CTPs on the resilience of their services
- Act as an SME (Subject Matter Expert) on CTPs across the department, the FCA, and externally. This includes leading TRC’s engagement with specific portfolio supervision teams and leading strategic analysis of incidents and operational resilience within your CTPs
- Work closely with a range of stakeholders, including across HM Treasury, the Bank of England, PRA and National Cyber Security Centre
- Produce briefings, internal papers and contribute to speeches for FCA seniors, and external reports for public and regulated firms

What you will get from the role
- This is an opportunity to make a significant difference. Your work will play a key part in the FCA delivering its strategic commitment to minimise the impact of operational disruptions
- At a time of rapid technology change and increasing cyber threats, you will have the opportunity to influence the FCA’s, firms’ and the international regulatory agenda on both operational resilience and the regulation of Artificial Intelligence

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 purchase additional 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:

- 25 days holiday per year plus bank holidays
- Private healthcare with Bupa
- 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)
- Life assurance of eight times your basic salary
- 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
- Significant experience supervising financial services firms to meet regulatory expectations
- Strong teamworking skills - evidence of having worked in collaborative teams, including supporting or mentoring colleagues, to deliver against challenging objectives

Essential
- Strong judgement, supported by good analytical skills and high levels of diligence; can demonstrate making challenging, risk-based judgements including in a complex and changing landscape
- Strong oral and written communication skills including clear and effective presentation to both internal and external audiences, with the ability to explain complex issues succinctly and with clarity
- Highly developed capability to interact effectively with a range of stakeholders including senior executives at firms, within the FCA and in government
- Good at pushing forward progress against a range of competing tasks and issues, prioritising appropriately and escalating where necessary
- A keen desire to learn more and support others’ learning in the fields of cyber, technology risk, Artificial In



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