Senior Associate

Senior Associates, Banking Authorisations (Authorisations Division)

The Role

The Banking Authorisations Team sits in our Authorisations Division and works closely with the Prudential Regulation Authority (PRA) in assessing whether potential new banks, both domestic and international, meet the standards to operate in the UK market.

It is an exciting time for the team as we continually adapt to new and varied banking 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.

You will make use of sound project management disciplines to ensure that the transactions you are accountable for are progressed effectively, co-ordinating resource and prioritising/re-prioritising effectively where necessary.

This role will interest and suit individuals who are driven by the following:
- The opportunity to think strategically and influence the future shape of the Department and the wider Authorisations Division;- The opportunity to positively influence new bank business models through regular engagement with the Executive and Board of new banks;- 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 operating models including cutting edge fin-tech propositions and firms operating in the cryptoasset market;- Challenging others constructively on sensitive issues around suitability and delivering difficult messages;- Demonstrating clear and logical thinking though oral and written work;

What does the role involve? What are the key responsibilities?- Leading and/or contributing to the development of risk-based and outcome focussed strategies for the gateway assessment of new banks;-
- Delivery of assessments to time and quality expectations;- Demonstrate a deep understanding of banking and/or payments 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;- Escalating risks, issues and other points of note (e.g. trends) in a timely manner;- Communicating confidently and influencing senior individuals at applicant banks including delivering difficult messages in a composed and constructive manner;- Participating in or leading projects that impact Authorisations and the FCA as a whole;- Promoting a culture of continuous improvement and efficiency gains;- Looking for opportunities to share knowledge and actively coach/train fellow team members;- Owning the relationship with key internal and external stakeholders on behalf of the Team/Department.

Skills/Experience Required

Minimum- Knowledge of banking and/or payments business models or significant experience of analysing business models and identifying risks facing firms or their customers;- Experience of the UK regulatory framework.

Essential- Ability to assimilate and analyse information to form judgments and mitigate potential risks;- 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 approaches;- Ability to manage competing workloads across a broad portfolio, thrive under pressure and deliver to tight deadlines;- Evidence of building and maintaining professional relationships with stakeholders;- Ability to contribute to and provide effective challenge to senior management;- Excellent verbal and written communication skills demonstrable through the writing of papers and / or presentation at committees- Excellent time and workload management, demonstrating the ability to manage and prioritise different tasks effectively;- Comfortable with responsibility and managing ambiguity.

Desirable-
- Experience of assessing the robustness of financial crime control frameworks gained from time spent working in a financial crime function/financial regulator or consultancy.

Useful Information- This role is graded as Senior Associate - Regulatory- The FCA has a national role and is committed to a national footprint. This role can be based in London or Edinburgh.- The FCA has London and National Pay ranges to reflect regional differences. The salary for this role will be:
- London - The salary will be £50,000 - £60,000 plus a competitive- benefits package
- and non-contributory pension.-
- National The salary will be £47,000 - £57,000 plus a competitive- benefits package
- and non-contributory pension.-
- Applications for this role close on 4t