Director – Infrastructure and Exchanges

Financial Conduct Authority

Regulating financial services firms and financial markets in the UK, https://www.fca.org.uk/careers


Requirements of the role

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.

 

The work of the Supervision, Policy and Competition (SPC) division has a significant impact on UK and international wholesale markets and UK consumers.  We use a range of regulatory tools to ensure firms have the interests of their clients and the integrity of the market at the heart of how they run their business.  This includes setting the standards we expect firms to meet, exploring and analysing identified risks within firms in our sectors through firm specific and multi-firm work as well as developing greater insight on market risk, informed by data and horizon scanning activities.

 

Now is an exciting time to join the FCA as we are engaged in a programme of significant regulatory reform which will set standards for UK wholesale markets for years to come.

 

The Role

 

We are looking for a talented and influential Director to lead our Infrastructure & Exchanges Directorate and play a key leadership role within the Supervision, Policy and Competition Division, and the wider FCA, as we transform into a more innovative, adaptive, and assertive regulator.

 

The Director of Infrastructure & Exchanges is an important senior leadership role which has significant influence in UK financial markets. In addition to leading a directorate of over 100 people, covering three departments, the Director will work alongside the Director Leadership Team within the SPC Division, and report directly to the Executive Director of Markets and International.

Infrastructure & Exchanges (I&E) is a key area of focus for the FCA, and the Directorate is responsible for ensuring the integrity of a key part of the UK wholesale market. The I&E directorate is responsible for:

  • Policy on and supervision of trading venues, including recognised investment exchanges and multilateral trading facilities (MTFs), as well as corporate finance firms and other important service providers to financial markets.
  • Policy on primary markets for issuing financial instruments on regulated markets, the secondary market rules that apply to trading of instruments like shares, bonds and derivatives, and post-trade arrangements including settlement and reporting, plus developing policy for wholesale crypto markets.
  • Policy on wholesale cross-market conduct issues in areas such as market abuse, short selling, investment research and best execution.
  • Policy and supervision of benchmarks providers, credit rating agencies, ESG ratings providers, securitisation markets and regulated covered bonds.
  • Market analysis and risk identification across wholesale financial markets, to support supervision and policy work, including via global standard-setting bodies.

 

The role holder is responsible for identifying and implementing the FCA’s strategic outcomes for these markets. They are responsible for ensuring there are appropriate policy standards for the market, for the supervisory oversight of activities and for regulatory interventions to prevent harm.

 

To deliver their responsibilities the role holder and their division will work in very close collaboration with the wider FCA Senior Leadership Team (SLT) and other FCA divisions.

 

What does this job involve?

  • Participating in and contributing to the Supervision, Policy and Competition (SPC) Division and the wider FCA Director team, helping shape and influence the strategy for the division and the FCA as a whole.
  • Ensuring there are strategies and plans in place that deliver agreed FCA outcomes.
  • Building a strong, diverse and inclusive directorate through attracting talent and developing existing talent.
  • Accountable for the supervision of firms within the I&E directorate.
  • Leading and executing a data led strategy to systematically assess firms and implement appropriate tools in the delivery of agreed outcomes, in line with the wider FCA strategy.
  • Accountable for the policy development and implementation within the I&E directorate.
  • Working closely with internal, external and international partners ensuring appropriate policy framework and standards are in place and effective in relation to I&E firms.
  • Promoting and representing the FCA perspective both internally and externally.
  • Working jointly with other SPC Directors and Market Oversight to deliver market-specific and cross-SPC outcomes, playing a significant role in delivering cross-FCA projects.
  • Ensuring an operating model that delivers the desired market outcomes in the sector to an agreed budget and within deadlines, with a focus on continuous improvement and delivering at pace.
  • Maintaining constructive and effective relationships with firms and trade bodies.

 

What will the candidate get from the role?

  • Joining the Senior Leadership Team at the FCA during an exciting and challenging time of great change in financial services and its regulation.
  • Leading a directorate of talented and committed people through significant projects and programmes whilst also delivering on business-as-usual objectives.
  • Exposure to strategic issues and key players in the world of finance, both nationally and internationally.


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 Location

London

 Contract type

Full time, Permanent

 Profession

Director, Exchanges, Infrastructure


 Working pattern

Flexible working, Hybrid

 Closing Date

29/07/2024