Senior Associates – High Impact Investment Banks & other Overseas Banks – Overseas and Investment Banks Division recruitment

The FSA is the single regulator of UK Financial Services and as announced by the Chancellor in 2012 the FSA's activities will be divided into two new authorities the Prudential Regulatory Authority (PRA) that is part of the Bank of England and a new and powerful Financial Conduct Authority (FCA). While the regulatory framework will change, our regulatory philosophy and need for high calibre individuals will not. The organisations in the new structure will carry forward our philosophy of outcomes-based regulation, intensive supervision and credible deterrence. 

This rigorous approach demands more high-quality staff with industry knowledge with the will and ability to robustly challenge firms, often at Senior Executive level, where potential threats to consumers or the wider market are identified. 

The unique nature of our organisation means that we can offer you a valuable insight into the financial services world and the opportunity to advance your career prospects. Being part of the FSA, and the subsequent authorities, will give you excellent experience of the complex, diverse and continually evolving financial services sector. You will be constantly stretched and challenged and we offer a diverse range of career opportunities-enabling you to broaden and deepen your existing experience. It also offers a rare opportunity to be part of the implementation of the new regulatory structures. 

A number of opportunities have arisen for Senior Associates in the area responsible for the prudential supervision of the UK operations of high impact investment banks and other overseas banks.We supervise a range of banks from different countries, including some of the largest and most recognised global banks.  

In addition to the role of supervising individual institutions through the aftermath of the financial crisis, as a Senior Associate you will also gain exposure to the debate on global regulatory developments. 

What does this job involve? 

• Supervision of banks - being part of a small team responsible for the supervision of a large complex institution.  

• Challenging and influencing the Senior Management of firms to deliver good regulatory outcomes 

• Proactively identifying risks within firms and devising strategies to mitigate them; this includes

leading and shaping our regular programme of risk assessment;

regularly analysing and assessing firms business models and their key financial indicators to identify areas of risk;

developing, implementing and monitoring risk mitigation strategies  

• Establishing and maintaining strong relationships with senior management at the firms, both nationally and internationally, and with counterpart regulators 

• Sharing expertise with and coaching more junior members of staff 

Which Essential Desirable skills are required? 

We are looking for high calibre professionals with significant experience of working in or dealing with the financial services industry. You will be looking to advance your career and have experience of how control functions operate i.e. Risk, Finance, Treasury, Internal Audit. 

Essential 

• A speciality area e.g. Liquidity which we would look to use where possible across a range of firms. 

• Strong interpersonal skills - ability to influence and challenge as well as building and maintaining relationships with senior management at firms and with International regulators 

• Outcome focussed - able to make decisions and devise strategies that deliver desired outcomes combined with a practical and commercially aware approach 

• Strong written and oral communication skills - ability to clearly and concisely articulate key messages to senior management 

• Strong analytical and financial skills, together with a good understanding of the retail, commercial, or investment banking sectors 

• Flexibility and resilience to work under pressure in an environment where priorities may change at short notice 

• Experience of coaching and developing more junior members of staff 

• An understanding of risk management concepts, such as credit risk or operational risk management 

• Track record of managing and delivering projects to time and quality 

Desirable

• It is also desirable that candidates have a good understanding of business and regulatory risks including those detailed in our Prudential Risk Outlooks which can be found at www.fsa.gov.uk/Pages/Library/Corporate. 

Training and support will be provided to help new supervisors gain a thorough understanding of regulation but candidates are expected to have a broad understanding of the above.  

What will I get from the role? 

• A unique and unrivalled insight across markets and the financial services industry. 

• The opportunity to influence and build relationships with senior executives and exposure to a wide range of financial institutions 

• Comprehensive training and ongoing learning and development opportunities. We will provide a significant training programme and induction during your first few months. 

• Exposure to a wide range of career opportunities and an opportunity to learn from experts across different sectors of Financial Services (Retail, Commercial and Investment Banking, Insurance) and specialist areas (Credit Risk, Market Risk, Liquidity) 

• A chance to be part of the changing regulatory approach and structure both domestically and internationally and to gain first hand exposure to how important issues such as capital and liquidity are shaped and delivered. 

• The opportunity to make a real difference in the financial services industry by changing behaviour in firms to improve outcomes 

• Opportunity to understand how firms operate across a range of sectors and products through supervising firms of varying size and quality.  

Additional Information 

This role falls in the REG C Job Family. 

In order to apply for this position you will need to answer the following question: 

Why do you believe that you are suitable for this role? Please ensure that you specifically relate your answer to the ESSENTIAL criteria listed in the job advert, covering your relevant skills, technical knowledge and capabilities. (no more than 300 words)    

Please "Apply Online". 

Applications close on 2 August 2012 (midnight).