Division – Enforcement & Market Oversight
Department - Market Oversight
Team - Secondary Market Oversight
Salary - National (Edinburgh and Leeds) ranging from £72,100 to £102,100 and London £79,300 to £115,000 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.
The FCA is the UK investigating and prosecuting authority for insider dealing and market manipulation. The Secondary Market Oversight (SMO) Department sets our approach to combatting market abuse and leads in its delivery. We do this by managing some of the richest datasets and intelligence in the world, deploying state-of-the-art analytics and bringing together a diverse mix of experienced investigators, regulators, markets professionals and data scientists.
We have an exciting opportunity for a manager within SMO to lead our FICC Market Abuse team, who are dedicated to detecting and combating market abuse in non-equities.
The manager will contribute to the development of our strategy for identifying market abuse in the FICC markets. The team is responsible for identifying and prioritising market events and trading behaviours which pose the greatest risk of harm to UK non-equity markets. The team uses data and intelligence from venues, market participants and members of the public to deliver tangible outcomes to UK markets; this will include developing cases for enforcement and supporting those cases, strengthening firms’ resilience to market abuse through external engagement, and disrupting the activity of known serial offenders. The team will contribute to the FCA’s wider effort to enhance the integrity of UK financial markets.
The successful candidate will need to work closely with the other managers within Market Oversight and the wider FCA and be jointly responsible for coordinating work. As part of the SMO leadership team, the successful candidate will also be a key contributor to the wider management team and the delivery of the market abuse strategy as a whole.
What You’ll Be Doing
- Leading a team of technical specialists and associates with a range of different backgrounds and experiences
- Developing and delivering our approach to the detection, prevention and pursuit of market abuse in the fixed income and commodities markets
- Working with our in-house data scientists and data engineers to make the best use of our orderbook data, industry intelligence and analytical tools to assess what and where the FCA’s focus should be
- Making informed and timely judgements in relation to complex allegations of market abuse and ensuring the ongoing development of the team and the continuous improvement of our processes and ways of working
- Developing and maintaining strong and effective relationships with internal and external stakeholders including colleagues in MO, Enforcement, and Strategy, Policy and Competition (SPC), as well as the trading venues and firms with whom we interact
- Working closely with colleagues in the management team, contributing to the development and implementation of the department’s approach to combat market abuse and developing its people and capabilities
What You’ll Gain From The Role
- Leading and developing a motivated team at the centre of expertise regarding FICC market abuse, and collaborating with talented individuals with a variety of technical skillsets
- The opportunity to develop our fixed income and commodity data analysis and orderbook capabilities, and define the FCA’s position on misconduct and harm across these markets
- You will also support the progression of a portfolio of cases of alleged market manipulation and provide expertise and support to teams in Enforcement to progress complex and challenging investigations
- The opportunity to influence and drive forward these and other workstreams and to contribute to the FCA’s strategy to combat market abuse.
- Having a key role in ensuring we can deliver on both the department and directorate’s objectives and vision more generally
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
- Prior experience in senior roles within market abuse or surveillance functions—or in a commodities/fixed income trading—where you’ve owned strategy and delivery with clarity and conviction
- Broad, and demonstrable, knowledge of the UK market abuse legislative framework and its application
- Experience of leading teams and the development of staff, including undertaking annual performance management and appraisals
Essential
- Excellent interpersonal and communication skills and the ability to manage, prioritise and deliver across a diverse range of different cases, projects and workstreams
- Experience of using data to deliver business insight
- A proven track record of acting as a decision maker and the ability to make timely judgements
- The ability to develop, implement and improve internal processes
- The ability to support the development of staff to meet personal and corporate goals and to be able to manage talent in the team
- Effective negotiation and relationship building skills, the ability to robustly communicate difficult messages with gravitas and credibility and the ability to be able to employ a range of different influencing styles
- Ability to build strong and effective working relationships with colleagues and other stakeholders and lead and motivate a diverse team through periods of change in a way which is sympathetic to the challenges people feel but which also recognises wider corporate priorities
- Working knowledge of the fixed income and / or commodities markets and trading typologies used by market participants
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
- 28 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 Manager - Regulatory
- Advert Closing Date: 28th July
- CV Review/Shortlist: 31st July
- First Competency Based Interview: Week commencing 11th August
- Manager psychometric test: Week commencing 18th August
- Final Interview: Week commencing 25th August
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:
Recruiter –
[email protected]Please provide a cover letter with your application. Applications without a cover letter may not be considered. You must submit your application through our online portal. Applications sent via email will not be accepted.
