Director Wholesale Buy-side

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 division has a significant impact on millions of consumers as well as UK and international wholesale markets. 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 cross-firm work; ensuring firms behave appropriately when detriment arises.

We also work closely with trade bodies and other third parties to help determine and communicate trends, forward views and gauge the horizon of risks in the market.

Asset Management is a core part of UK financial markets, helping to invest money on behalf of individuals and institutions and identifying opportunities to fund businesses and sovereigns.

We’re looking for a capable and influential senior leader to help lead our engagement with the sector at a really important time. They will join us as we implement our five-year strategy and continue to harness opportunities in rule making, engagement and use of data to be an ever smarter regulator.

The role holder will lead and deliver work that changes people’s lives for the better, working with others to tackle big questions including the provision of income for later life, and the industry’s potential to contribute to the UK’s economic growth. They will also have a significant opportunity to help build our new culture and shape the FCA into the organisation that we want to be.

The role

The Director of Wholesale Buy-Side is an important senior leadership role which has significant influence in UK financial markets. In addition to leading a directorate of over 100 people, comprising three departments, the role holder will work alongside the Director Leadership Team within the Supervision, Policy and Competition (SPC) Division, and report directly to the Executive Director of Markets.

Wholesale buy-side 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, for example by monitoring and providing strategic advice on opportunities and risks to UK wholesale markets The Directorate needs to work closely with other areas within the FCA to ensure that our approach is proportionate and coherent across the entire value chain – from wholesale markets to distribution to consumer . The Wholesale buy-side directorate is responsible for the authorisation of funds, regulation of asset management and alternative investment firms, and their funds, custody banks, research firms as well as the development of policy in these areas, including funds policy.

The role holder is responsible for identifying and implementing the FCA’s strategic outcomes for this market. 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. The Director will also play a key role in shaping and delivering the organisation’s transformation into a forward looking, data-led and proactive regulator.

What does this job involve?

Playing a key role as an active member of the Supervision, Policy and Competition (SPC) Division and the wider FCA senior leadership team, helping implement the five-year strategy for the FCA, and driving forward key interventions to support the development of our people in the division and the FCA as a whole

Ensuring there are strategies and plans in place that support growth in the markets, and deliver agreed FCA outcome, including being a smarter regulator

Work effectively across organisational boundaries to achieve outcomes

Building a strong, diverse and inclusive directorate through attracting talent and developing existing talent

Accountable for the authorisation of funds and supervision of firms within the Wholesale buy-side 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

Working closely with internal, external and international partners ensuring appropriate policy standards are in place and effective in relation to Wholesale buy-side firms

Promoting and representing the FCA perspective both internally and externally

Working jointly with other SPC Directors, in particular Wholesale sell-side, Infrastructure & Exchanges, Consumer Investments and Sustainable Finance, 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

View on member website