Senior Associate - Projects Team, Market Analysis & Policy, Insurance, Supervision

Title - Senior Insurance Supervision, Market Analysis and Policy Associate

Department - Market Intervention and Policy

Team – Projects

Salary - National (Edinburgh and Leeds) ranging from £59,000 to £69,000 and London £65,000 to £75,000 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.

We are recruiting for a Senior Associate to join our Insurance Projects team, which sits in the Market Intervention and Policy (‘MAP’) department. The team designs and delivers thematic and project work focussing on key issues identified within the UK insurance market. This work is varied and high-impact and makes a real difference to the lives of consumers. We work closely with a range of expert colleagues, including firm supervisors, our policy team, economists and lawyers.

The primary role of the Projects team is to scope and perform pieces of multi-firm project and thematic work considering key conduct risks and issues manifesting in the insurance sector. Our work helps to build our understanding of the insurance sector, identifying conduct which may pose a risk to our statutory goals or cause harm to customers. We also support and contribute effectively to multi-disciplinary FCA work focussed on the sector and work collaboratively with the other Insurance MAP and Market Intervention teams to proactively assess and mitigate key conduct risks presented by firms operating in the UK insurance market.

This work involves interacting effectively with a wide range of internal and external stakeholders, analysing complex information, performing focussed engagements with firms, identifying issues and shortcomings and reporting findings clearly and concisely. The findings of our project and thematic work are often proactively shared with the UK insurance sector as appropriate to shape the activities of market participants. The Projects team plays a key role in developing communications and interventions to influence the functioning of the market and drive changes in behaviour where conduct is not consistent with our rules and expectations.

What will you be doing?

• Assisting in the scoping and planning of multi-firm project and thematic work to address market and sector issues on a proactive and effective basis

• Leading and participating in firm interactions and visits required as part of multi-firm and thematic projects and managing the co-ordination and delivery of these activities

• Keeping appropriate records of firm meetings and forming & documenting clear and concise conclusions from the information received and interactions with firms and other stakeholders

• Providing appropriate internal and external reporting and feedback (both verbal and written) to FCA management, firms and other stakeholders following multi-firm work

• Helping to devise and implement appropriate mitigation strategies and actions for thematic projects, including both internal and external actions using the range of regulatory tools available as appropriate

• Helping to manage stakeholder relationships and deliver communications in relation to multi-firm projects and thematic work, whilst collaborating effectively with FCA colleagues across the organisation to deliver our work

What will you get from the role?

Your work will be both varied and challenging with an opportunity to interact with a wide range of colleagues, firms and stakeholders. You will work as part of a supportive and collaborative team on high profile pieces of work that identify and diagnose some of the key issues facing the insurance sector. Within the role you will be given a significant degree of responsibility and empowerment and the chance to gain real insight into the workings of the insurance sector and how it impacts upon customers.

The role also provides significant scope for learning and development, particularly given the level of regulatory and sectoral experience of your colleagues in the team. You will have the opportunity to interact with senior and executive level management both internally and in firms in the insurance sector.

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 of the insurance sector, either working in an industry, regulatory or consultancy setting

• Prior experience of managing relationships with internal and external stakeholders at all levels

• Prior experience of analysing information from various sources, making decisions based on the results and presenting the results in a concise and compelling manner

Essential

• A strong team player who has the capacity to integrate quickly into the department, working effectively with colleagues at all levels

• You will be adept at summarising information received from a variety of sources, drawing out key points and communicating them clearly orally and/or in writing, including in relation to technical matters

• A self-starter and autonomous thinker with a flexible and risk-based approach to decision making, including the ability to make practical decisions and prioritise appropriately

• You will have proven your ability to work proactively and independently to meet deadlines, whilst being able to motivate both yourself and others

• Ability to challenge and influence others’ views while building and supporting good relationships, both within the FCA and externally

• You will have a strong understanding of the business models and conduct harms in the general insurance sector

• Highly developed self-awareness - willing to give and receive feedback, learn and develop, confident in taking on new responsibilities and adopting a flexible pragmatic approach to your work

• A good understanding of the regulatory framework, the FCA's approach to supervision and the key threats posed to the FCA's statutory objectives by the insurance sector

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.

The FCA is committed to achieving greater diversity across all levels of the organisation. Given this, we particularly welcome applications from women, minority ethnic, disabled, and neurodivergent candidates for our Senior Associate – Regulatory role.

Benefits of working at the FCA

• 25 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 Senior Associate – Regulatory

• Advert Closing Date:  Sunday 18th May  - Midnight

• CV Review/Shortlist: Tuesday 20th May

• First Round Interview: Week Commencing 26th May

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 Cameron Nunn at [email protected] 

Applications must be submitted through our online portal. Applications sent via email will not be accepted.