Prudential Policy Associate

The Role

We are recruiting an Associate 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 market integrity, for example 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 Prudential Policy team sits in the Strategy and Cross-Cutting Policy department, within the FCA’s Wholesale & Markets Policy function. This department provides cross-sectoral policy support on areas such as governance and remuneration, sustainable finance, the future of regulation, onshoring and the FCA handbook.

The FCA is the largest prudential regulator in Europe by the number of firms authorised. As we introduce new prudential regimes and respond to the changing business environment facing firms amid Brexit and Covid,.

What does the role involve? What are the key responsibilities?

This includes:

- Supporting our delivery of the UK Investment Firms Prudential Regime as we move from rules drafting through to implementation
- 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:

- Help develop and implement the new Investment Firms Prudential Regime, a major new prudential regime that will transform the prudential regulation of investment firms and act as a flagship as we update our other regimes in the coming years
- 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 creating thinking and problem solving are essential
- Work with and influence a range of industry professionals both within and outside the FCA
- Work in a stretching environment, to grow your expertise at Europe’s largest prudential regulator

Skills/Experience Required

Minimum
Analytical skills with experience in rapidly assimilating new facts, understanding complex issues, and conveying their implications
- Stakeholder management and written communication skills
- A proven ability to work effectively as part of a team, undertaking team-based problem-solving, and to support and assist others

Essential
- An ability to work proactively and to prioritise effectively when managing multiple deliverables, escalating where necessary
- Capability and experience of evaluating the pros and cons of different options when making recommendations and decisions
- Some knowledge of the UK financial services industry

Desirable
- Knowledge and experience of working with the FCA and/or other relevant prudential regulators
- Knowledge of financial services regulation and FCA-regulated firms
- Experience of presenting key messages 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 Associate, Regulatory
- Applications for this role close on 8th May

The FCA has a national role and is committed to a national footprint. This role can be based in London & Edinburgh.

The FCA has London and National Pay ranges to reflect regional differences. The salary for this role will be:
London - up to £55,000

National (roles in Edinburgh) - up to £52,000

The FCA is currently trialling a new hybrid way of working, requiring colleagues to spend 40% of their time in the of