Manager – Custody & Bank Owned Asset Managers Team
Salary: National ranging from £67,100 to £85,000 and London £73,700 to £95,000 per annum – Salary offered will be based on skills and experience
Do you want to lead a collaborative team, making a real impact on a critical sector?
We’re recruiting for a manager for the Custody & Bank Owned Asset Managers team. The team sits in the Asset Management & Funds Department, which is responsible for the supervision of the buy-side sector.
The team/department
The department supervises both the regulated firms (asset managers, custodians, depositaries, and other fund service providers) and the fund products that these firms in buy-side are involved with. The department works collaboratively across the FCA as well as engaging other external stakeholders and authorities such as domestic and international regulators and industry bodies to advance our objectives.
The successful candidate will lead a team of supervisors supervising over 100 custody and fund service providers and bank owned asset managers. The team’s role involves the assessment of a varied and interesting set of supervisory and market issues. The team works to set and deliver strategies to mitigate key risks in the sector as well as reacting to emerging issues and market events. The work is varied, interesting and can be high-profile and market sensitive. The successful individual will lead a team of associates with a range of skills and experience.
What you will be doing
* Leadership - Driving forward our supervision priorities within the team, to ensure we identify the firms posing the highest risk to our priorities and develop relevant supervision strategies to address key risks.
* Strategy - Ensuring the creation and delivery of the strategy for Custody & Fund Services firms within the sector, taking an outcomes focused approach to supervision.
* People - Supporting and developing the team to achieve its goals and to apply our risk appetite and control framework, including through effective line management.
* Assertive Supervision – set clear expectations and exert positive influence across key stakeholders, including in delicate and complex situations using the full range of regulatory tools to advance the FCA’s priorities.
* Departmental management - Helping run the wider Department and deliver the strategy as part of the management team, including through helping establish a healthy culture.
What will you get from the role?
* The opportunity to make a real difference to standards in a key sector by influencing a wide range of stakeholders across the value chain.
* The opportunity to contribute to work which relates directly to the FCA's priorities, for example on building operational resilience and market excellence in the UK.
* Management of a diverse, skilled, and motivated team.
* The chance to build connections across key senior stakeholders in financial services.
Our competitive flexible benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can use this allowance to purchase additional benefits such as dental or cycle to work or you have the option to top up your base salary by taking this as cash. Core benefits that you will receive as standard are:
* 28 days holiday per year plus bank holidays.
* 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 support hybrid working which means you will be able to work from home up to 60% of the time over a month with the remainder of your time in one of our three office locations.
The skills and experience you will have
Minimum
* Experience of working in financial services at a senior level, this could be from working at a regulated firm, supervising one or working as an advisor to regulated firms.
* A manager or team leader with experience of driving complex projects or people and of managing multiple projects on time.
* Experience of supporting, coaching and developing others.
Essential
* Ability to support and guide a team including delegating effectively and motivating team members to achieve high standards through empowerment and trust.
* Ability to build a strong network across the organisation and have confidence in working at all levels across the FCA to deliver and provide advice and challenge on a range of matters.
* Sound judgement, including being prepared to make reasoned decisions in circumstances of limited or inconclusive information.
* Credible, persuasive communicator, able to communicate views positively and effectively to all levels of staff and stakeholders inside and outside the organisation.
* Ability to work at pace and drive delivery.
* Ability to demonstrate a good understanding of how the UK regulatory framework operates in the buy-side / for UK wholesale markets participants.
* Ability to assimilate technical and legal issues quickly, knowledge of the business models and operations of buy-side firms would be helpful.
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. We do this to make sure markets work well for individuals, businesses and the economy as a whole. For more information on what we do, our three-year strategy can be found here.
The FCA's Values & Diversity
Our ambition is to cultivate a culture of inclusion 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.
The FCA is committed to achieving greater diversity across all levels of the organisations. Given this, we particularly welcome applications from women, disabled and minority ethnic candidates for our manager role.
Flexible working
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 won’t judge you for asking.
Multi-location
As part of the FCA’s on-going commitment to develop our national presence, most of our vacancies are now open to working in our Edinburgh, Leeds, or London offices. This means that as part of the application process you will be able to select your preference of which office location you would like to work from.
Useful information
Applications for this role close at midnight on 10th November.
This role is graded as Manager - Regulatory.
What to expect from our interview process
The process will involve the below stages:
* Candidates will complete a competency based interview.
* If successful in the first round interviews you will be asked to complete a Management assessment.
* Then following the assessment you will have a final round interview.
Your Recruiter will discuss the process in detail with you during screening for the role.
Recruitment Timetable
Advert closing Date: 10th November.
First Round interviews: 20th & 22nd November.
Assessments: 28th & 29th November.
Final Interviews: 4th-6th December.
Please make the recruiter aware if you are going to be unavailable for any date during this time.
Got a question?
If you are an external candidate and you are interested in learning more about the role, please contact Aaron Ward on aaron.ward@fca.org.uk.
If you are an internal candidate and you are interested in learning more about the role, please contact Lucy Matthews on lucy.matthews@fca.org.uk.
Please note that all applications must be submitted through our online portal before the closing date, applications sent via email will not be accepted.
Application support
We want to remove any possible barriers and are committed to providing a wide range of reasonable adjustments so that you can keep the focus on your conversations and be at your best.
If you have an accessibility requirement, disability, or condition that means you might require changes to the recruitment process, please contact your recruiter to discuss this further. Our aim is to make your application as easy and comfortable as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.
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