An exciting opportunity has arisen for a highly motivated individual to join the Market Data Infrastructure Supervision (MDIS) team as a Senior Associate
. In this role you will have a unique insight to Trade Repositories (TRs), Swap Repositories (SRs) and Data Reporting Service Providers (DRSPs).Responsibilities:
What will the successful candidate get from the role?
- Leading on supervisory engagement with TRs, SRs and DRSPs to assess and ensure compliance with UK regulations.
- Owning and developing supervisory strategy throughout the supervisory lifecycle e.g. from new applicant to portfolio analysis and strategy setting in line with the FCA supervisory model.
- Managing relationships with key internal stakeholders to ensure team objectives are met and understood e.g. Authorisation, Policy, FCA market data users, Project and Technology. Representing MDIS on project teams and attendance at project boards as required.
- Representing MDIS in discussion with external regulators e.g. The Bank of England, Her Majesty's Treasury , ESMA (European Securities & Markets Authority).
- Providing input into proposed policy initiatives which relate to our area.
- Owning and improving team procedures and processes related to the efficient delivery of the team functions.
- Coaching and supporting team members.
This is a challenging, interesting and varied role in one of the most high-profile and dynamic areas of the FCA. It will give you:
- Opportunity to help shape and deliver our supervisory approach to UK data infrastructure providers post the UK's exit from the EU.
- Opportunity to gain a detailed understanding of the UK's market data reporting regimes, FCA data ingestion systems and the FCA's wider uses of the data.
- Opportunity to develop and share professional expertise and knowledge through exposure to a wide range of complex and challenging situations.
- Opportunity to engage with supervised firms and represent MDIS with key internal FCA and external stakeholders.
- Opportunity to lead on supervisory engagement with firms.
- Experience in a wholesale financial markets role e.g. in a compliance or regulatory policy role at a data infrastructure provider, trading venue or similar market infrastructure provider.
- Professional exposure to EMIR (European Market Infrastructure Regulation), SFTR (Securities Financing Transactions Regulation), Securitisation Regulation and MiFID.
- Demonstrable experience in manging internal and external stakeholders.
- Excellent analytical, written and oral communication skills, with the ability to assess and clearly and succinctly explain complex, technical matters.
- Strong interpersonal skills with ability to build and influence a wide variety of both internal and external stakeholders including senior management at data infrastructure firms.
- A team player with a "can do" attitude, drive, enthusiasm, flexibility and proactivity to acquire new skills and knowledge at a fast pace and support team colleagues as required.
- Proven track record in anticipating issues and problem-solving.
- Ability to manage several workstreams at once ensuring issues are prioritised effectively and progressed on a timely basis.
- Experience delivering as part of complex projects and demonstrable ability to own and drive workstreams through to a conclusion.
About the Team
- Experience in relation to market data reporting or wholesale market infrastructure regimes.
- Ideally the above experience will have been gained via practical market experience at a data infrastructure firm, trading venue or other wholesale market infrastructure firm.
Market Data Infrastructure Supervision (MDIS) is a specialist supervision team responsible for oversight of market data infrastructure providers such as Trade Repositories (TRs), Securitisation Repositories (SRs) and Data Reporting Service Providers (DRSPs) which include Approved Publication Arrangements (APAs) and Approved Reporting Mechanisms (ARMs).
Data infrastructure firms provide key market data e.g. EMIR, SFTR, securitisation and market data submitted under the UK MiFID framework, to market data users such as regulators, market participants and investors.
This market data is key in enhancing the transparency and integrity of the UK financial markets, aiding investor protection and enabling the FCA to discharge its public functions e.g. to combat market abuse or monitor for systemic risk in derivative markets.
The MDIS team's key functions are:
- Overseeing FCA regulated data infrastructure firms to ensure compliance by these firms with the applicable regulatory frameworks.
- Engaging with other regulators and market data users to ensure the effective discharge of the market data functions undertaken by the data infrastructure firms.
- Working collaboratively with FCA internal stakeholders e.g. Authorisation, Policy, FCA market data users, Project and Technology colleagues to support the efficient operation of the relevant regulatory reporting regimes
- This role is graded REG C - Senior Associate
- The approximate salary range for this role is £46,000.00 - £60,000.00 plus a competitive benefits package - part of which can be taken as cash, and a generous pension contribution from the FCA.
- Applications close on Sunday 20 June at 23.59 - Please note we may close applications earlier than stated.
- Applications must be made via the online system, applications made via email will NOT be accepted.
- Contact Julia Coe for more information (Julia.Coe@fca.org.uk)
- There is no need to attach a cover letter or answer any questions as part of the application process, however please do ensure that the CV you submit meets the criteria set out above.