Consumer Finance Policy Specialist

Requirements of the role

The team

The Consumer Finance Policy team sits in the Market Analysis and Policy Department within the Consumer Finance Directorate. Our team plays a critical role in protecting consumers, promoting competition and enhancing market integrity through the design and ownership of regulatory standards for a wide range of credit products used across the UK.
As we respond to the changing economic and political environment, our work has never been more important. Our current activities include working with government on a new regime for ‘buy now pay later’ products, delivering a new regulatory framework following the FCA market study into credit information services, and ensuring debt advice markets work well for consumers.  One of the most exciting and significant pieces of work currently underway is our role in delivering a major government review of the Consumer Credit Act 1974.
More broadly we support our supervisory and authorisations teams in addressing harm & risks to consumers from credit products, e.g., through helping to embed the new Consumer Duty. We work closely with external stakeholders, including the Treasury, industry and consumer groups.
The successful candidate will play a vital role in the critical work the Consumer Finance Policy team. Our work is frequently concerned with issues facing the most vulnerable in society. As a Consumer Finance Specialist you will play a leadership role in supporting the team on a number of high-profile workstreams alongside the team manager & two other highly experienced technical specialists.

What you will be doing

In this role you will:

• Provide expert advice and insight on technical aspects of credit products and our regulation to support the team’s wider programme of work, including on the Consumer Credit Act, the FCA’s Handbook, and key consumer and industry trends.
• Collaboratively work with colleagues to develop policy proposals and take them through internal and external processes
• Draft briefings and papers to explain complex issues
• Present recommendations to the FCA Board and Executive Committee
• Stay aware of developments in consumer credit to identify areas which could impact the teams responsibilities and areas where we should be acting, as well as helping manage the team’s reactive workload (supporting other teams, responding to MPs letter & queries)
• Work with external stakeholders (e.g., the consumer credit industry, HM Treasury, consumer bodies) to promote our objectives
• Share your knowledge and best practice with more junior colleagues

For this role we would welcome applications from individuals with significant experience in consumer credit and policymaking. In addition, we’d welcome those with a curious, supportive and collaborative approach to resolving complex issues, excellent stakeholder & communication skills and the confidence to drive work forward.

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