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Job description

The Retail Banking and Payments Supervision Division's primary purpose is to reduce harm to consumers and markets through the oversight of firms (and of individuals controlling firms) operating in the retailing banking and payments sector. The Division is responsible for supervising the largest and most complex retail banking groups in the UK, as well as over 1700 payment and e-money firms.

Sitting within the Division and reporting to its Director is the Retail Banking & Payments Sector Team. The Sector Team plays a key role in helping to ensure the Division delivers on its strategic priorities, operates effectively and continuously improves.

Purpose of the role

We are now recruiting for a Senior Associate to join the Sector Team. Working alongside other team members, Supervisors and key internal stakeholders, the successful candidate will play a key role in delivering against the Team's core responsibilities:
  • Providing effective oversight of sector and portfolio-level risks of harm and in turn, helping to inform prioritisation decisions within the Division;
  • Maximising the use of data and intelligence to produce firm-specific, portfolio and sectoral analysis and insights that add value;
  • Helping Supervisors and other stakeholders to better understand the Sector and acquire the level of sector-specific knowledge they need through the delivery of effective knowledge sharing interventions;
  • Aligned to the Division's priorities, undertaking targeted communication and engagement activities with key internal and external stakeholders; and
  • More broadly, providing guidance, support and challenge that helps the Division operate effectively.

Key responsibilities
  • Proactively contributing to the identification, measurement and on-going monitoring of risks of harm relevant to the RB&P Sector, including horizon scanning for emerging risk.
  • Performing regular and bespoke analysis (including detailed Business Model Analysis focused on firms' financial performance) on individual firms and firm cohorts. Providing sector support and insights into Firm Evaluations, Interim Reviews, Annual Strategy Meetings and Portfolio Strategy Meetings.
  • Gathering data and intelligence on firms operating in the sector from a range of information sources, including Supervision's core operating system (INTACT), regulatory returns, firms' financials, analyst reports, trade publications and external consultancy research.
  • Influencing the Division's strategy and helping to inform prioritisation decisions through the identification of emerging themes, market trends and hot topics and where appropriate, working with frontline teams to develop proposals and strategies to address them.
  • Establishing and maintaining strong working relationships with colleagues in the division and other internal stakeholders, appropriately influencing them to help achieve our objectives.
  • Supporting the delivery of the Division's external communications plan through attendance at various industry events, providing briefings to our Senior Leadership Team and drafting speeches.
  • Helping Supervisors to build their knowledge and understanding of the Sector and related topics through the design and delivery of local learning interventions (e.g. presentations and webinars).
  • Maintaining and continuously building the level of skills and knowledge necessary to be effective in the role as Senior Associate on the team.

Skills/Experience Required

Minimum Criteria

We're a signatory to the Government's Disability Confident scheme. This means that we will offer an interview to disabled candidates entering under the scheme, should they meet the minimum criteria for a role. A minimum criterion needs to be measurable from reviewing a candidate's CV.

Exceptions may apply if due to the volume of applications we are not able to interview all eligible candidates who qualify under the scheme.
  • Experience of analysing information/MI (including financial information) from a range of sources.
  • Proven ability to think critically about the different sides of complex issues, to identify themes, weigh up options and arrive at appropriate judgements.
  • Proven written language skills
  • Experience of building and managing relationships with a range of stakeholders, including senior management
  • Experience of successful teamwork and working with others

Essential Criteria
  • Judgement: Able to quickly identify key insights from a range of information (both qualitative and quantitative), clarify the nature of the problem, scope and arrive at well-balanced decisions. Engage in collective problem solving, sharing own expertise and insights to help develop the best way forward. Curiosity and motivation to continually learn about and investigate issues within the firms and industry we supervise.
  • Engagement: Strong written and verbal communication skills, including the ability to present complex information & analysis to senior stakeholders in a clear, concise and compelling way. Ability to flex style to communicate effectively, build relationships and build consensus to get buy-in.
  • Delivery: Ability to maintain focus on achieving desired outcomes. Strong planning, prioritisation and organisational skills, including proven ability to work under pressure on a diverse set of competing priorities, tasks and issues. Attention to detail, taking pride in work and ensuring it is of the highest standard.
  • Self-management: Ability to work independently with minimal oversight. Ability to manage your energy and demonstrate resilience when under pressure. Self-aware and willing to learn and develop yourself and others, taking on new responsibilities and adopting a flexible and pragmatic approach to your work committed to on-going learning and development.
  • Technical know-how: knowledge and understanding of the financial services sector, how firms in the sector operate and make their money and subsequently, the risks of harm posed by these firms to consumers and markets. Excel skills and proficient in using other MS Office applications (including PowerPoint).

Desirable Criteria
  • Experience in the Payments and/or Retail Banking Sector gained through working in an industry, regulatory or consultancy setting.
  • Experience in financial analysis, research and/or data analytics
  • Experience of formal project management and continuous improvement disciplines.
  • Working knowledge of the FCA's approach to supervising firms and related risk management processes and systems
  • Knowledge and understanding of Salesforce (INTACT) and key MI visualisation tools (e.g. Tableau).

What will the candidate get from the role?
You will enjoy a unique perspective on the Retail Banking and Payments Sector and broader financial services industry, with the opportunity to do meaningful work that makes a real difference. The firms we supervise and the issues we deal with touch the lives of virtually every person in the UK. Making payments safe and accessible is one of the FCA's four consumer priorities and receives focus at the highest levels within the organisation as well as attracting significant media, political and public interest.

The role will provide exposure to a challenging and varied portfolio of work. You will also have the opportunity to work alongside, learn from and influence a wide range stakeholders, both internally and externally.

As an Academy business, we place great value on your learning and we offer world-class development opportunities which will assist you in achieving your career aspirations. Our Academy offers you a range of opportunities for personal and professional development, including our MSC in financial regulation, Future Managers Programme, sponsored study and more.

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.

As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

Useful Information
  • Therole is gradedatSeniorAssociate REG C
  • The salary range is approximately£46-60k
  • Applications for this role close on25thOctober2021

Selection Process (Subject to Change):
  • Stage 1 - Please submit your CV via the online portal
  • Stage 2 - Screening - Your application will then be forwarded to the recruiting manager
  • Stage 3- Written case study assessment
  • Stage 4 - Interview with recruiting manager

If you are interested in learning more about the role, please contact Demi Scarsella on [email protected]

Learn more about Financial Conduct Authority

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