Lead Associate

London (Greater)
60,000 to 75,000 GBP plus a competitive benefits package and non-contributory pension.
12 Nov 2017
18 Nov 2017
Contract Type
Full Time

Lead Associate, Infrastructure and Trading Firms Investment Exchange Supervision Investment, Wholesale & Specialists

The salary range will be approximately 60,000 to 75,000 GBP plus a competitive benefits package and non-contributory pension.


At the FCA, we're creating a fairer 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.

The Infrastructure and Trading Firms Department plays a key role in supervising the UK wholesale financial markets. This includes direct responsibility for supervising market infrastructure, benchmark administrators/submitters and the key trading firms within those markets. As such, we play an important role in identifying risks across markets and taking action to protect market integrity, promote competition and protect consumers.

Within the department, our equities and derivatives supervision teams lead our oversight of UK "recognised investment exchanges" (RIEs). The markets operated by RIEs enable market participants to access capital and liquidity, and manage risk, across a broad spectrum of asset classes. The UK is in the process of implementing new rules, set out in MIFID 2, which aim to increase trading of financial instruments on transparent, multilateral venues. These will further deepen the role of RIEs in financial markets, and are supported by an enhanced regulatory framework placing emphasis on pre- and post-trade transparency and control of electronic and algorithmic trading, among other things.

The teams work closely with specialists from across the organisation, including in the areas of markets policy, competition, market surveillance and technology & resilience. They also liaise regularly with colleagues at the Bank of England (which is responsible for supervision of central counterparties) and, given the global nature of market infrastructure groups, with counterparts at regulatory authorities across the EU and internationally. We also use a range of tools to carry out our supervision, from proactive engagement with firms to market-wide work on themes spanning the RIE sector.

We are now recruiting for a talented Lead Associate to help shape and implement our supervisory agenda for exchanges in the teams' portfolio.

What does the role involve?

The team's role is to:

  • Supervise RIEs' compliance with specialist obligations designed to ensure that exchanges offer fair, orderly and transparent markets, supported by resilient technology;
  • Analyse new market initiatives proposed by exchanges (for example, to launch new markets, functionalities or products)
  • Set and oversee appropriate regulatory capital requirements for RIEs;
  • Assess new applications for recognition as an investment exchange;
  • Develop the teams' risk maps;
  • Support industry and FCA preparedness for MiFID 2 and contribute to projects to advance delivery of MIFID 2's policy objectives; and
  • Support work on priorities and risks across the capital markets sector

The role will be at the forefront of our program of proactive supervisory engagement in relation to exchanges in the teams' portfolio, and help foster effective working relationships with our supervised firms and broader set of stakeholders.

What will I get from the role?

This is an excellent opportunity to understand and shape the workings of the financial sector and wholesale markets at a time of considerable change. You will contribute to the FCA's wholesale markets work in a high profile way.

You will enjoy the opportunity to work with and understand the functioning of investment exchanges and their role in the financial landscape, whilst also developing working relationships with a number of important and overseas regulatory authorities, trade associations, and market participants. You will develop significant knowledge of markets, market infrastructure, EU financial services legislation, and related policy issues.

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?


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

  • Experience of exchange-traded financial markets.


  • Knowledge and understanding of the regulatory framework and competitive landscape within which RIEs operate.
  • Leadership - an ability to deliver through others by motivating, inspiring and supporting colleagues.
  • Influence & relationship building an ability to build effective relationships with a wide range of stakeholders, and the impact and authority to influence at senior levels.
  • A strategic and outcomes-focused approach an ability to identify current and emerging risks and generate effective and practical solutions.
  • Flexibility and teamwork - openness to new approaches, supporting colleagues and working collaboratively with others to achieve tasks and deliver desired outcomes.
  • Sound judgement an ability to make clear decisions and recommendations based on appropriate stakeholder input and use of data and intelligence, escalating where necessary.
  • Organisational ability - capability to manage a variety of competing tasks and issues by prioritising effectively.


  • Knowledge of EU financial services legislation and its impact on wholesale markets.

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.

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)