Senior Supervisor, Custody Banks & Bank Asset Management Subsidiaries

at  Financial Conduct Authority

Division - Wholesale Buy-Side
Department - Market Interventions - Asset Management & Funds
Salary - National (Edinburgh and Leeds) ranging from £51,200 to £64,000 and London £56,400 to £70,400 per annum (salary offered will be based on skills and experience)
About the FCA
The FCA regulates the conduct of 45,000 firms in the UK to ensure our financial markets are honest, fair and competitive. Follow this link to find out more
About the FCA
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We have an exciting opportunity for someone to join the Custody Banks and Bank Asset Management Subsidiaries team within the FCA Wholesale Buy-Side Supervision Directorate.
The department supervises both regulated firms (asset managers, custodians, depositaries, and other fund services providers) and the fund products that these buy-side firms are involved with. The department works collaboratively across the FCA as well as with other external stakeholders and authorities, such as domestic and international regulators and industry bodies, to advance our objectives.
The successful candidate will join a team that supervises over 100 bank-owned asset managers, standalone custody banks, depositaries and fund service providers. These include some of the world’s largest asset managers by AUM and global systematically important banks (G-SIBs).
The team’s role involves the assessment of a diverse and interesting set of supervisory and market issues. We develop and delivery assertive supervision strategies that have a meaningful impact on mitigate key risks in the sector, reacting to emerging issues and market events, preventing serious harm to consumers and financial markets, as well as promoting competition and growth. The work is challenging, rewarding and impactful.

What will you be doing?

• Reviewing firms’ business models and strategies (particularly those at the intersection of banking and asset management) and identifying the key risks of market and consumer harm
• Design and implement outcomes-focused supervision strategies for firms to address and mitigate key risks. This includes application of a broad range of supervisory tools to achieve the desired outcomes
• Senior stakeholder engagement to set clear expectations, exert positive influence, understand market practices and shape key decisions through application of sound judgement and effective communication
• Engage in, and lead where suitable, thematic work and projects on key risk areas for the sector
• Work collaboratively and build strong relationships with a diverse group of internal and external stakeholders

What will you get from the role?

• This role will put you at the forefront of important supervisory work relating to market modernisation and transformation (including the digitisation of financial markets and other technological innovations, growth of private markets and financial product developments)
• You will contribute to work which relates directly to the FCA’s priorities. Specifically, you will have the opportunity to perform analysis and drive engagements to influence positive change at firms across the asset management sector as well as the custody and fund services sector
• Working in the team will help you develop key insights into two dynamic and critically important sectors at a time of rapid and fundamental change. You will gain broad exposure to the wholesale financial markets and important regulatory issues that firms in the sectors face
• You will also support and learn from experienced professionals on high profile projects and develop your skills in delivery and regulation. You will work with and influence a wide range of professionals, both inside and outside the FCA
• We place great emphasis on learning and offer world-class development opportunities to assist you in achieving your career aspirations
• You will be part of a diverse and dynamic team responsible for supervising firms that play pivotal roles in the UK financial markets and beyond

Which skills are required?
We are a Disability Confident Employer; therefore, disabled people or individuals with long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. (To learn more about the Disability Confident Scheme
Click Here
)

Minimum

• Industry, consultancy or regulatory experience within asset management, custody or banking sector
• Demonstrable experience of reviewing, investigating, and assessing information from various sources to make sound judgements
• Proven experience of managing internal and external stakeholders at all levels

Essential

• Commitment to the work of the FCA and a desire to make a difference
• A great team player who works effectively with others to achieve positive outcomes
• Strong interpersonal skills and the ability to build and maintain relationships with senior management and stakeholders
• A good communicator, who explains issues clearly, concisely and can influence others. Offering constructive challenge, delivering strong messages, and responding to challenge effectively
• Ability to operate with confidence in an environment of uncertainty, complexity, and rapid change
• Experience in manging a wide range of issues and competing priorities effectively
• Ability to learn, develop and take on new responsibilities, quickly filling gaps in your understanding

Our Values & Diversity
We are proud to be an inclusive employer and our ambition is to cultivate a culture for all employees that respects their individual strengths, views, and experiences. We believe that our differences and similarities enable us to be a better organisation – one that makes better decisions, drives innovation, and delivers better regulation.
Within the workplace you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions.
Did you know? 50% of our Executive Committee were the first in their family to attend university.
The FCA is committed to achieving greater diversity across all levels of the organisation. Given this, we particularly welcome applications from women, minority ethnic, disabled, and neurodivergent candidates for our senior associate role.

Benefits of working at the FCA

• 25 days holiday per year plus bank holidays
• Hybrid working (work from home up to 60% of your time)
• Private healthcare with Bupa
• A non-contributory Pension of at least 8%
• Life assurance
• Income protection

We also have a competitive flexible benefits scheme which gives you the opportunity to create a personalised benefits package, tailored to suit your lifestyle.
We welcome applications from candidates who are looking for flexible arrangements. Many of our staff work flexibly including working part-time, staggered hours, and job shares. We can’t promise to give you exactly what you want but we can explore what might work best for both sides. Follow this link to see what life is like at the FCA -
Life at the FCA
Application Support
We are dedicated to removing barriers and ensuring our application process is accessible to everyone. We offer a range of adjustments to make your application experience as comfortable and straightforward as possible.
If you have an accessibility need, disability, or condition requiring changes to the recruitment process, please contact your recruiter using the details below and they will be happy to discuss this further with you.

Useful Information and Timeline

• This role is graded as: Senior Associate - Regulatory
• Advert Closing Date: 2nd February
• Screening calls: W/C 10th February
• Case study & competency-based interviews: W/C 17th February

Your Recruiter will discuss the process in detail with you during screening for the role, therefore, please make them aware if you are going to be unavailable for any date during this time.
Got a question?

If you are interested in learning more about the role, please contact:

• For external applicants, please contact Aaron Ward at

Aaron.ward@fca.org.uk

• For internal applicants, please contact Lucy Matthews at

Lucy.matthews@fca.org.uk
Applications must be submitted through our online portal. Applications sent via email will not be accepted

What will you be doing?

• Reviewing firms’ business models and strategies (particularly those at the intersection of banking and asset management) and identifying the key risks of market and consumer harm
• Design and implement outcomes-focused supervision strategies for firms to address and mitigate key risks. This includes application of a broad range of supervisory tools to achieve the desired outcomes
• Senior stakeholder engagement to set clear expectations, exert positive influence, understand market practices and shape key decisions through application of sound judgement and effective communication
• Engage in, and lead where suitable, thematic work and projects on key risk areas for the sector
• Work collaboratively and build strong relationships with a diverse group of internal and external stakeholder

What will you get from the role?

• This role will put you at the forefront of important supervisory work relating to market modernisation and transformation (including the digitisation of financial markets and other technological innovations, growth of private markets and financial product developments)
• You will contribute to work which relates directly to the FCA’s priorities. Specifically, you will have the opportunity to perform analysis and drive engagements to influence positive change at firms across the asset management sector as well as the custody and fund services sector
• Working in the team will help you develop key insights into two dynamic and critically important sectors at a time of rapid and fundamental change. You will gain broad exposure to the wholesale financial markets and important regulatory issues that firms in the sectors face
• You will also support and learn from experienced professionals on high profile projects and develop your skills in delivery and regulation. You will work with and influence a wide range of professionals, both inside and outside the FCA
• We place great emphasis on learning and offer world-class development opportunities to assist you in achieving your career aspirations
• You will be part of a diverse and dynamic team responsible for supervising firms that play pivotal roles in the UK financial markets and beyon

If you are interested in learning more about the role, please contact:

• For external applicants, please contact Aaron Ward at