Senior Supervisor – Benchmarks Supervision - #1703716

Senior Benchmark Supervisor

Division – Supervision, Policy and Competition SPC

Salary - National (Edinburgh and Leeds) ranging from £52,400 to £65,000 and London £57,700 – £71,700 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.

We are currently looking to recruit a Senior Benchmark Supervisor to join the Benchmarks Supervision team within the Capital Markets Department. The Capital Markets Department is within the Supervision, Policy and Competition Division at the FCA and is responsible for both benchmarks supervision and policy.

The role is in a team which is responsible for supervising benchmark administrators whose products price trillions of pounds of financial contracts and a significant portion of the allocation of assets through investment funds. We work to protect consumers and investors by ensuring that our firms administer their benchmarks in a transparent way with good governance and controls, avoid and manage conflicts of interest and have robust input data and methodologies. We supervise firms against the requirements of the UK Benchmarks Regulation.

What will you be doing?

• As a dedicated benchmarks supervisor, you will be responsible for the FCA’s supervisory relationship with individual benchmark administrators, driving engagement with the view of influencing conduct behaviour
   




• You will drive, deliver and/or oversee the delivery of projects within the supervision strategy to mitigate or reduce harm to consumers and enhance market integrity
   




• You will be responsible for exercising expert judgement to reduce and mitigate risks of harm emanating from the benchmark administrator business model and strategy
   




• The role involves communicating effectively with internal stakeholders, including at a senior level
   




• You will be asked to present and share knowledge with colleagues, including the wider Capital Markets Department and colleagues within the team
   




• You will work with others across the FCA to harness expertise and knowledge from other departments, including the General’s Counsel Division, Market Oversight, Policy and Competition division (CD) & Economics

What will you get from the role?

Joining the Benchmark Supervision team, you will have the opportunity to implement and influence the FCA’s supervision strategy for Benchmark Administrators. This role provides exposure to both a breadth and a depth of issues, including with senior management at benchmark administrators.

In this role, you will play an important part in supporting the FCA to achieve its strategic goals through delivering on our supervisory priority to support firms in mitigating risks of harm from poor disclosures and controls in benchmarks.

You will have the opportunity to work with and learn from colleagues covering wide ranging issues including, but not exclusive to, technology and resilience, CD, benchmarks policy, authorisations and enforcement. You will have the opportunity to engage with a wide variety of stakeholders, including other regulatory authorities. You will enjoy a unique perspective on the financial services industry, with the opportunity to do meaningful work that makes a real difference. 

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

• Direct experience of working in a regulatory and or financial services sector with professional experience related to indices and benchmarks




• Proven experience of working with the key risks related to indices and the wider financial ecosystem




• Proven experience in applying diagnostic skills whether gained in industry, legal and/or financial services

Essential

• A collaborative approach and ability to think creatively about new and emerging supervisory issues




• Experience of taking a project-based approach to complex problems




• Ability to manage a broad range of stakeholders: you will need to flex your style to build consensus and influence a range of diverse stakeholders




• Strong written and oral communication skills, including the ability to distil complex issues into succinct messages




• Draft findings and present recommendations confidently to a variety of internal and external stakeholders




• Good self-management skills to plan and drive forward work to meet deadlines, while also having the flexibility to change priorities when required




• A problem-solving mind-set and a risk-based approach to decision making and judgements

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.

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% of basic salary each month (there are several contribution levels that increase depending on your age – up to 12% a month once you reach age 35)  




• Life assurance of eight times your basic salary  




• 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: Wednesday 21st May




• CV Review/Shortlist: Friday 23rd May




• First Round Case Study Assessment: Week Commencing: 26th May




• Competency Based Interview: Week Commencing 9th June

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 Cameron Nunn at ************@fca.org.uk 

Applications must be submitted through our online portal. Applications sent via email will not be accepted