Technical Specialist, Wholesale Investment Management

FCA Perm
London (East)
From £65,000 to £80,000 per annum plus benefits
29 Sep 2017
03 Nov 2017
Contract Type
Full Time
Technical Specialist, Wholesale Investment Management, Wholesale (Investments) Team, Wholesale Authorisations

The salary range will be approximately 65,000 to 80,000 GBP plus a competitive benefits package and non-contributory pension.


At the FCA, we're creating a fair and more resilient financial system. We're establishing more transparent relationships between financial services and their customers, building trust in financial markets and protecting vulnerable consumers.

Authorisations ensures that only firms and individuals in key roles that are fit and proper may enter and remain in the market. It does this via the gateway, which includes the essential role played by the Customer Contact Centre (CCC).

At various times Authorisations interacts with 56,000 firms and more than 130,000 individuals authorised and approved by the FCA as well as a constant stream of new entrants to the market. Through interactions with firms, whether already authorised or new entrants, the Division helps to shape how firms operate or propose to operate in the market.

Within the Authorisation Division, the Wholesale Department is responsible for the authorisation of solo regulated wholesale firms which are new to the regulated environment, as well as variation and cancellation of permissions of existing solo regulated firms. It also considers sensitive business name and waiver applications and is home to Authorisation's central support team.

Teams within the Wholesale Department assess firms' applications against the Threshold Conditions and other regulatory standards (e.g. fit and proper test), using a risk-based and outcome-focused approach. While gathering the information and analysing potential risks presented by the applicants and/or their proposed businesses, we liaise with other divisions (such as Supervision and Enforcement and, in the case of cancellations, with external stakeholders such as the Financial Ombudsman Service).

The overarching aim of the assessment process at the gateway is to protect consumers and ensure stability of the financial sector, while promoting competition and minimising perceived barriers to entry.

We are now recruiting for a talented Wholesale Investments Management technical specialist to work within our Wholesale Department to further develop our gateway approach to these types of firm applications and deliver on regulatory change projects affecting Wholesale Markets. While the role sits within one of the Wholesale Permissions teams, the successful candidate will work across the department and division.

What does this job involve?

The role requires in-depth Wholesale Investment Management firm knowledge in order to provide expert advice to managers and other colleagues and to apply that knowledge to highly complex applications and projects.

  • Recommending and providing technical input to strategy/operating models for Investment Management firms including input on risk tolerance; operating models; new business model threshold conditions; new FCA competition objective; conduct assessment approach and supervisory issues.
  • Where required responsible for reviewing and advising on complex Investment Management Firm applications - particularly on the highest risk and innovative applications.
  • Responsible for interviewing & holding pre & post application meetings with Investment Management Firms when requested
  • Using process expertise to deliver FCA outcomes for Investment Management work
  • Coaching and mentoring members of the Wholesale Department and inputs to the technical development of colleagues
  • Advising management in the field of expertise
  • Building and maintaining diverse relationships including with FCA Supervision, Policy and Risk and Research divisions and relevant external stakeholders such as Trade Associations
  • Assessing regulatory changes, challenging existing procedures/ways of working, identifying improvements to increase efficiency and effectiveness of business processes and working with process owners to implement changes
  • Working closely with relevant internal and external stakeholders to obtain necessary information to make forward-looking judgement- based decisions. Producing detailed reports on support of decisions and recommendations.
  • Presenting to various Committees.
What will I get from the role?

Working in the Wholesale Department, you will benefit from the:

  • Opportunity to be in the front line of development of the FCA approach to authorising investment management firms at a time of considerable regulatory change both domestically and internationally
  • Exposure to a range of different and innovative business models and other complex cases
  • Exposure to high profile initiatives, and interaction with external bodies and stakeholders
  • Varied work and opportunity to express opinions, concerns, suggestions and to challenge processes
  • Operating in a high profile (internally and externally) area

As an Academy business we place great value on your learning and we offer world-class development opportunities which will assist you in achieving your career aspirations. Our Academy offers you a range of opportunities for personal and professional development, including our MSC in financial regulation, Advanced Managers programme, sponsored study and more.

Which minimum, essential & desirable skills are required?Minimum

We're a signatory to the Government's Disability Confident scheme. This means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.

  • Expert knowledge of the Wholesale Investment Management sector, financial products and services.
  • Proven understanding of the regulated environment and legislation
  • Experience of successful implementation of regulatory initiatives/change or other operational projects
  • Excellent relationship management skills to enable credible engagement and challenge with the most senior internal and external stakeholders, including influencing the thinking and behaviour of others.
  • Sound analytical judgment and ability to make informed, bold and forward thinking decisions that are delivered promptly and in line with FCA strategy.
  • Ability to identify opportunities for process improvements, ensuring plans and initiatives are aligned with other teams and maintaining the drive to deliver outcomes with passion and enthusiasm.
  • Experience of coaching and/or training others in regulatory/ technical areas
  • Ability to present highly technical information and conclusions in a way that takes account of different audiences and styles and ensures that the message is conveyed and bought in to
  • Ability to keep up with sector changes and trends, assessing implications on the department and organisations approach to regulating.
  • Good understanding of conduct risks associated with the wholesale sector
  • Knowledge of the FCA Handbook (COND, COBS, SYSC, IPRU, IFPRU, GENPRU, BIPRU, MAR).
  • Knowledge of European Directives (in particular AIFMD, UCITS, MIFID)
Additional Information

As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

The job family for this role is Reg D1 and applications close on Monday 9th October.

Selection process

Stage 1: On-line application, please submit your CV and answer to the following application question:

Why do you believe that you are suitable for this role? Please ensure that you specifically relate your answer to the criteria listed in the job advert, covering your relevant skills, technical knowledge and competencies. (Max 300 words)

Stage 2: Screening - your application will then be forwarded to the recruiting managers

Stage 3: Selection & assessment process (could be subject to change) Candidates called for interview will be required to make a 10 minute presentation on the following topic:

'What do you believe to be the impact of Brexit on asset management?'

The remainder of the interview will cover technical and behavioural competencies - testing analytical and investigative skills, decision making and judgement, personal accountability (in particular, being proactive in identifying issues or ways to improve process and to take responsibility for personal development), oral and written communication skills and team working. Final stage interview to follow, if necessary.

This role will be based in London, Canary Wharf, with a planned move in 2018 to a new site in The International Quarter, Stratford.

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