Lead Associate

Lead Associate - Authorisations

Location - Edinburgh and London

The Role

The Insurance Authorisations Team sits in our Authorisations Division and works closely with the Prudential Regulation Authority (PRA) in assessing whether potential new insurers (dual regulated), and insurance intermediaries (solo regulated) both domestic and international, meet the standards to operate in the UK market. We also play a key role in assessing Part VII transfers of business.

It is an exciting time for the team as we continually adapt to new and varied insurance business models, the increasing use of digital channels that introduce new and innovative customer offerings whilst simultaneously implementing the FCA’S Approach to International Firms following the UK’s departure from the European Union.

We are recruiting a talented Lead Associate to lead a sub-team in the assessment of a portfolio of Part VII Insurance business transfers and new insurance authorisations from both domestic new entrants and overseas firms seeking to establish operations in the UK.

You will offer both technical and strategic leadership to the associates in your sub-team, co-ordinating the development of clear, risk conscious case assessment strategies for each transaction for agreement with senior management and will be responsible for managing your sub-team’s execution of these strategies on time and to the right level of assurance.

You will make use of sound project management disciplines to ensure that the transactions in your portfolio are progressed effectively, co-ordinating resource and prioritising/re-prioritising effectively where necessary. You will escalate operational challenges and risks and issues within your team’s case portfolios to management and show creativity and drive in working with management and your team to resolve them.

You will take a key role in developing the talent and capability within your sub-team and the wider department.

This role will interest and suit individuals who are driven by the following:
- The opportunity to take a leading role in creating and maintaining a high performing, outcomes focussed culture in your team.- The opportunity to think strategically and influence the future shape of the Department and the wider Authorisations Division.- Developing and maintaining excellent relationships and networks across the FCA, the PRA and various other stakeholders.- Freedom to exercise and display sound judgement and initiative, using various sources of information and intelligence.- The opportunity to develop the knowledge and skills of others.- The opportunity to engage with the challenges of managing different and often innovative business and operational models.- Challenging others constructively on sensitive issues around suitability and delivering difficult messages.- Demonstrating clear and logical thinking though oral and written work.- Valuable people and organisational management experience

What does the role involve? What are the key responsibilities?- Be able to lead the development of clear, risk-based and outcome focussed strategies for the gateway assessment of new firms.- Be able to use project management discipline to ensure team delivery of assessment strategies to time and quality expectations.- Demonstrate a deep understanding of insurance business models, keeping abreast of developments in the market impacting on the work of the team.-
- You think strategically to ensure key risks/issues/project work are joined up- Strong people management, project management or coaching experience.- The ability to lead and coach colleagues with both technical issues and career development conversations to improve delivery and capability.- Excellent communication and influencing skills with key internal stakeholders and with applicant firms.- Ability to take a broader role within the division, owning change delivery across a number of teams or departments.- Excellent time and workload management, demonstrating the ability to manage and prioritise different tasks effectively.- Strong operational experience, overseeing diverse portfolios of work to rigorous time and quality standards.

Skills/Experience Required

Minimum- Experience of managing people and operations.- Knowledge of insurance business models including Part 7 business transfers; or significant experience of making regulatory decisions on the appropriateness of either or both.- Experience in delivering of a number of long-term projects (assessments) concurrently.

Essential- Ability to assimilate and analyse information to form judgments and mitigate potential risks.- Evidence of leading, supporting and assisting colleagues with both technical issues and career development conversations.- Proactive approach to work including the ability to use your own initiative to identify potential issues.- A strong team player with the ability to be flexible and pragmatic. Able to adapt to changing circumstances, positively embracing new app