Salary:  National £41,800 up to £47,800 and London £46,000 up to £54,000 per annum – Salary offered will be based on skills and experience

Are you interested in joining a team that will help shape and deliver a redress and compensation framework is fair to consumers and firms and promotes confidence in financial services markets?

The Team/Department

The Redress and Prudential department sits within the Cross Cutting Policy and Strategy Division. The Redress and Claims Management Company (CMC) policy team plays a critical role by owning and advising across the Financial Conduct Authority (FCA) on the policy requirements which ensure that firms put things right for financial services consumers when things go wrong, whether that’s making a complaint or claiming compensation in the event a firm goes under owing redress liabilities. As part of this role the team owns the FCA’s relationship with the Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS). Major projects include introducing a price cap for claims management companies (CMCs), the consumer redress scheme for former members of the British Steel Pension Scheme, and the Wider Implications Framework Annual Report.

The team manages the strategic oversight of FOS and FSCS, and coordination of shared projects on key areas of common interest and information/intelligence sharing between the wider FCA and the regulatory family (FOS, FSCS, Money and Pensions Service and The Pensions Regulator). The team are also policy-owner of the Handbook regulatory reporting requirements.

What you will be doing

• Supporting the development of policy proposals, and helping preparing high-quality policy papers for senior management and Board approval, and for public consultation, and the communication of these proposals externally

• Providing quality input, advice and support to supervisors, firms, consumers and trade and consumer bodies on redress issues (such as handling of complaints, approach to redress, role of FOS and/or FSCS) to develop and maintain a coherent approach to consumer redress and/or compensation

• Support the Oversight Committee and the Board in ensuring effective and robust oversight of FOS in line with our statutory duties

• Improving coordination and sharing of data between the regulatory family to advance shared objectives and ensuring that redress and complaints data is available to inform FCA decision-making

What will you get from the role?

The work of Redress and CMC policy is critical to the FCA’s Business Plan. The redress and compensation rules are a critical part of the consumer protection framework, helping consumers when things go wrong. By ensuring that the regulatory family can carry out their necessary public functions, there is effective coordination of information and intelligence, and the FCA is equipped with accurate firm data we are enabling the FCA to reduce harm to consumers.

The Redress and CMC policy associate will have the opportunity to:

• Work on challenging issues, in an intellectually stimulating environment, where creative thinking and problem solving are essential

• Interact with a wide range of internal and external stakeholders including government, industry and consumer representatives

• Help support firms and the compensation framework put things right for consumers when things go wrong

Our competitive flexible benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can use this allowance to purchase additional benefits such as dental or cycle to work or you have the option top up your base salary by taking this as cash. 

Core benefits that you will receive as standard are: 

• 25 days holiday per year  

• Private healthcare with Bupa 

• A non-contributory Pension of at least 8% of your basic salary each month (there are several contribution levels that increase depending on your age – up to 12% a month once you reach the age of 35)

• Life assurance of eight times your basic salary 

• Income protection 

We support hybrid working which means you will be able to work from home up to 60% of the time over a month with the remainder of your time in one of our three office locations.

The skills and experience you’ll have 

We are a signatory to the Government’s Disability Confident scheme. This means that we will offer an interview to disabled candidates entering under the scheme, who best meet the minimum criteria for a role. 

Minimum 

• Previous experience of dealing with policy issues relevant to consumer protection in regulated industries

• Experience of data analysis and/or data governance

Essential

• A collaborative and flexible approach, and the ability to think creatively about new regulatory approaches

• Strong analytical skills

• Good written and oral communication skills, including the ability to:

  • Distil complex issues into succinct messages; and

  • Present confidently to a variety of internal and external stakeholders

  • Act as a credible representative for FCA externally

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. We do this to make sure markets work well for individuals, businesses and the economy as a whole. For more information on what we do, our three-year strategy can be found here. 

The FCA's Values & Diversity 

Our ambition is to cultivate a culture of inclusion 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.

The FCA is committed to achieving greater diversity across all levels of the organisations. Given this, we particularly welcome applications from women, disabled and minority ethnic candidates for our associate role.  

Flexible working  

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 won’t judge you for asking. 

Multilocation

As part of the FCA’s on-going commitment to develop our national presence, most of our vacancies are now open to working in our Edinburgh, Leeds, or London offices.  This means that as part of the application process you will be able to select your preference of which office location you would like to work from.  

Useful information  

Applications for this role close at midnight on 17th November

This role is graded as Associate – Level 8 - Regulatory

What to expect from our interview process  

The process will involve the below stages:

• A case study followed by a competency based interview

Your Recruiter will discuss the process in detail with you during screening for the role.

Recruitment Timetable   

Advert closing Date: 17th November

First Round interviews & Assessment: 28th November – 4th December

Please make the recruiter aware if you are going to be unavailable for any date during this time.

Got a question?   

If you are an external candidate and you are interested in learning more about the role, please contact Chhavi Bartaria on [email protected]

If you are an internal candidate and you are interested in learning more about the role, please contact Lucy Matthews on [email protected]

Please note that all applications must be submitted through our online portal before the closing date, applications sent via email will not be accepted.

Application support

We want to remove any possible barriers and are committed to providing a wide range of reasonable adjustments so that you can keep the focus on your conversations and be at your best.   

If you have an accessibility requirement, disability, or condition that means you might require changes to the recruitment process, please contact your recruiter to discuss this further. Our aim is to make your application as easy and comfortable as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.