Senior Wholesale Brokers Supervisor

4 months ago

London, United Kingdom Financial Conduct Authority Full time

Senior Wholesale Brokers Supervisor

Location

London / Leeds / Edinburgh

Salary

National ranging £51,200 - £68,000 and London £56,400- £75,000 - depending on experience
- Are you interested in joining a dynamic team supervising the UK’s wholesale brokers?_

The Team

We are recruiting for a Senior Supervisor (Senior Associate) to join the Wholesale Brokers Supervision Team at the FCA, in a department that is at the forefront of the FCA’s work to supervise wholesale intermediaries. As a senior associate in the team, you will play an important role delivering the FCA’s supervisory strategy for this important portfolio of firms.

If you have experience within wholesale financial markets, can demonstrate strong use of judgement and have excellent communication skills, this could be the role for you

The Wholesale Brokers Supervision team supervises around 300 small to medium-size wholesale broker firms with the objective of ensuring market integrity and protecting consumers. The current priorities for the portfolio include: dealing with ‘bad actor’ firms, assessing the governance and culture at the firms, scrutinising and improving firms’ market abuse and financial crime systems and controls and prudentially supervising firms in the portfolio.

The team sits within the Market Interventions
- Market Intermediaries department at the FCA. The department plays a key role in supervising UK secondary markets.

What you will be doing

As a senior supervisor in the team, you will be working closely with the wider team and the manager, designing and delivering the supervisory strategy for the portfolio. This includes designing workstreams that help to advance the supervisory priorities for the portfolio, seeking senior level agreement for their execution and steering them through to completion. Recent examples of work by the team include a multi-firm exercise to assess the effectiveness of brokers’ liquidity risk management and an exercise to scrutinise governance and controls brokers have in place to prevent them being used to facilitate financial crime.

You will also directly supervise a range of firms active in the sector, taking responsibility of supervisory cases and decisions across a range of topics, including around financial crime and market abuse, as well as other broker conduct issues and matters impacting their prudential resilience. In addition, you will support other team members by providing input to their supervision strategies, and develop their supervision skills and technical know-how, using your skills and experience.

The supervisory issues that you will deal with cover, amongst others, allegations of serious misconduct, concerns about the business activities of firms, the potential failure of firms and whether firms are meeting the FCA’s threshold conditions. To resolve these issues, you will work closely with internal and external stakeholders, including senior individuals at wholesale broker firms and internal colleagues in Policy, Market Monitoring, Operational Risk, Prudential and Financial Crime Supervision, Enforcement and Legal. In your work, you will also commonly use supervisory tools and take supervisory action against firms, including through FCA requirements, skilled person reviews or through making referrals to Enforcement as appropriate.

What you will get from the role

The role offers a challenging, interesting and varied portfolio of work, collaborating with colleagues from across the FCA. It will suit an ambitious individual with wholesale markets and/ or regulatory experience, who is looking for an opportunity to take responsibility for the supervision of an important portfolio. In the role, you will gain in-depth experience and insight of wholesale brokers and the wholesale financial markets they operate within, and you will have significant senior level exposure both across the FCA and with regulated firms.

The department where the role sits forms an integral part of the FCA’s wholesale firm supervision directorates and provides a supportive environment that continually seeks to develop individuals to perform at their best.

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- Prior experience of wholesale financial markets and regulation- Prior experience exercising judgement in complex situations- Prior experience in a role which has required excellent written communication skills

Essential- Know

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