Division - Wholesale Sell Side

Department - Wholesale Conduct & Credit

Salary - National (Edinburgh and Leeds) ranging from £51,200 to £72,000 and London £56,400 to £80,000 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.

Wholesale Conduct & Credit: The Wholesale Conduct & Credit team focuses primarily on non-equity markets. We look at policy issues in fixed income markets, including government debt, corporate bonds, derivatives and structured markets - such as covered bonds and securitisation. We also develop policy for wholesale conduct, addressing issues such as unbundled research and trading surveillance. We work closely with HMT, the PRA and international regulators. We have a wide reach across industry, both here and outside the UK.

What you will be doing

We have an exciting opportunity for a Senior Associate in Structured Finance to work in our Wholesale Conduct & Credit Team. The team’s role is to supervise structured finance markets which includes the securitisation and regulated covered bond markets. The role also involves working closely with policy colleagues on the development of regulation. The team is based in our Markets Analysis & Policy Department.

• Supervision of the Structured Finance Market including evaluation of market trends as well as firm specific securitisations

• Monitoring the development of the UK STS (Simple, Transparent, Standardised) securitisation market, the non-STS UK market and the UK Collateralised Loan Obligation (CLO) market

• Performing analysis on key issues/risks to the supervisory strategy, including making recommendations on their materiality and whether they pose a risk to FCA’s objectives

• Working as part of a team to undertake proactive thematic projects relating to risks present across a segment(s) of the market.

• Ad hoc review of prospectus documents, cash flow models, investor reports and regulatory submissions

What will you get from the role?

• You will have a rare opportunity to understand and shape the workings of the financial sector at a time of considerable change. You will enjoy a unique view of the financial services industry, with the opportunity to do meaningful work that makes a real difference.

• You will have the opportunity to work with and influence a wide range of industry professionals, both internally and externally to the FCA.

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  

• Proven experience working in financial markets as an industry participant (financial institution/rating agency), or regulator.

• Working experience of structured finance markets such as RCB, securitisation and/or CLO credit analysis or related fields. A proven understanding of the products’ features and risks.

• Experience working in an analytical role

Essential

• Proven ability to deliver work unsupervised

• Excellent communication skills, with demonstrated ability to tailor communication to less technical audiences

• The ability to synthesise and interpret large amounts of both numerical and written information

• Understanding of wholesale funding models and the role of key market participants

• Ability to evaluate the credit, legal and structural risks of securitisations and CLOs, including cash flow models.

• Understanding of the regulatory regime which applies to the UK RCB, securitisation and CLO markets

• Ability to use sound judgement alongside a flexible and adaptable approach

• Relationship management skills and the ability to influence stakeholders

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 Senior Associate – Regulatory
• Advert Closing Date:  15th December 2024
• CV Review/Shortlist: 17th December 2024
• First Round Case Study and Interview Assessment: W/C 30th December 2024

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 internal applicants, please contact Linda Bradley at [email protected] 
• For external applicants, please contact Aaron Ward at [email protected]​

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