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Director, Risk
About the FCA
At the FCA, we’re creating a fair and more resilient financial system. We’re establishing more transparent relationships between financial services and customers, building trust in financial markets and protecting vulnerable consumers.
We’re currently on an exciting journey as we drive forward significant organisational, people, process, and technology transformation to become a more forward-thinking, proactive regulator. We will use data more effectively to drive better regulatory decisions and build greater cohesion across our broad financial services remit.
Significant improvements in digital enablement, business intelligence, market data and information management maturity are all being pursued to maintain our position as a world leader in financial services regulation.
In March 2025, the FCA launched a new 5-year strategy to deepen trust, rebalance risk, support growth and improve lives. The FCA will focus on four priorities:
Be a smarter regulator; predictable, purposeful and proportionate. The FCA will improve its processes and embrace technology to become more efficient and effective.
Support sustained economic growth, by enabling investment, innovation and ensuring the continued competitiveness of the UK’s world-leading financial services.
Help consumers navigate their financial lives by working with industry to boost trust, product innovation and ensuring the right information and support is available for people to take financial decisions.
Fight financial crime, focusing on those who seek to use the fact they are regulated to do harm. It will go further to disrupt criminals and support firms to be an effective line of defence.
The Role
The Director of Risk will lead a Directorate within Risk and Compliance Oversight and report directly to the General Counsel and Chief Risk Officer.
Risk and Compliance Oversight (R&CO) is the second line of defence for the FCA, working with each of the FCA Divisions to ensure the management of Own Risks (operational, execution and public confidence risks) and Risks of Harm is effective to enable the FCA to successfully achieve its strategy and business plan and, hence, its statutory and operational objectives.
The Director will lead their Directorate to oversee the maintenance of the Risk Management Framework, provide ongoing guidance and oversight of risk management across the FCA and oversee the effective operation of the Assurance function.
The Division works in partnership with Senior Management, members of the Board and colleagues across the organisation to manage the internal and external risks to the FCA’s strategy and Annual Workplan and, hence, its statutory and operational objectives.
This is done by:
supporting and driving effective risk management and decision making
improving and embedding FCA–wide risk and compliance awareness and understanding
promoting continuous improvement through quality assurance and lessons learned reviews.
This is an important and exciting role, at a crucial time for the FCA. It will be pivotal in enabling the organisation to rebalance risk and helping senior leadership understand and consciously act upon risk vs opportunity trade-offs.
The role holder will champion risk management at a senior level across the organisation, acting as a partner and critical friend in helping the organisation to continuously mature its approach to risk management. The incumbent will also be responsible for monitoring and reporting on the organisation’s risk profile and recommending ways for key risks to be managed.
The role will require liaison with ExCo, the Board and its sub-committees, key regulatory partners and other relevant external stakeholders. This is a visible, high-profile role with that will require great awareness and dexterity in liaising with stakeholders both internally and externally.
What will the candidate get from the role?
You will join the Senior Leadership Team at the FCA during an exciting and challenging time of great change in financial services and its regulation.
You will lead a critical function, holding a high-profile role and be at the centre of many significant issues currently facing the FCA and underpinning the transformation agenda.
You will gain exposure to not just senior stakeholders in the FCA, but in Government and fellow regulators.
What does the role involve? Key responsibilities:
Oversight of the organisation’s Risk Management Framework, including the operationalisation of its Risk Appetite Framework
Lead reporting on the organisation’s risk profile to Executive and Board Committees, including maintenance and continuous improvement of the organisation’s strategic risk registers, recommending ways to manage key risks and identifying risk vs opportunity trade-offs
Lead the provision of clear, accurate, holistic risk-based advice, guidance and oversight to the organisation, including membership of relevant committees and other forums
Help the organisation to continuously enhance its risk management capabilities, including researching, developing and utilising innovative analytical techniques / artificial intelligence
Oversight of the Risk Assurance team, delivering a risk-based assurance plan, providing clear oversight on the management of risks and effectiveness of key controls within the FCA
The responsibilities of the role may include oversight of the Compliance function and the Data Protection Officer in due course and depending on the candidate’s skills and experience.
Skills/Experience required
We’re proud to be a Disability Confident Employer, and therefore, people or individuals with disabilities and long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. In cases of high application volumes we may progress applicants whose experience most closely matches the role’s key requirements. (To learn more about the Disability Confident Scheme Click Here)
Minimum
• Extensive senior-level experience with a second line of defence function, operating at organisational or enterprise scale
• Significant experience within financial services and/or a regulatory environment, with accountability for material risk outcomes
• Proven experience of leading and developing senior professionals, including setting direction, managing complexity and building capability
• Experience exercising independent judgement and influence in high scrutiny environments, including challenge of senior stakeholders
• Demonstrable experience of operating within complex governance frameworks, with exposure to Board-level or equivalent decision-making forums
Essential
Strong problem solving, communication and influencing capabilities
Exceptional stakeholder management skills, including demonstrable ability to influence senior leaders, both inside and outside the regulatory system.
Strong analytical skills and the ability to balance creative challenge and pragmatism.
Role model strong leadership behaviours in line with the FCA values and capabilities, and delivering cross-organisational priorities.
Strong subject matter expertise in risk management and compliance, and in developing and operating associated frameworks in different contexts, including how they can support the strategy of an organisation
Experience in reporting to and working with Board and Board Risk Committees
Deep expertise in the three lines of defence model, with the ability to adapt this experience to a regulator if gained in another context
Strong experience of using insights from second line of defence functions to inform and shape continuous improvement in the first line
Desirable
Deep understanding of the political and wider external (including media) environment which the FCA is operating in
Experience of data protection and privacy issues
The FCA’s Values & Diversity
Our ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator. We serve the public and our decisions directly affect the wellbeing of people, businesses and the UK economy. So, our values matter. They represent the culture we aspire to every day, guiding our judgements, building trust and helping us to be ‘At our best’.
The FCA is committed to achieving greater diversity across all levels of our organisation. Given this, we particularly welcome applications from women, disabled, and minority ethnic candidates, as under-represented groups.
As an inclusive employer, we are open to considering flexible working arrangements, including job shares. Please inform your recruiter if you wish to apply for this role on a flexible basis.
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.
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 you application as easy as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.
Benefits
Our competitive benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can this 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:
30 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
Conflicts of interest
All applicants to the FCA are required to demonstrate that they do not have other interests likely to conflict with their responsibilities as an employee of the FCA. You should declare any potential conflict of interest as early as possible in the selection process, and also disclose information or personal connections that, if appointed, might be open to misperception.
Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) should they be successful in their application.
Useful information
The closing date for this role is 23:55 on 24th May
Selection will be via a two-stage interview and psychometric assessment
If successful, you will be required to obtain and retain SC Clearance.
This role will be based in London, Leeds, or Edinburgh.
We currently operate a hybrid working model, working a minimum of 40% in the office each month (50% for senior leaders). This way of working applies in our Stratford, Leeds and Edinburgh offices. From September 2026, FCA employees will be required to spend a minimum of 50% of their working time in the office. Our Executive Director and Directors will be expected to be in a minimum of 60% per month.
The salary range for the role is £200,000 to £260,000 for London and £180,000 to £234,000 nationally.
To apply please submit your CV and cover letter.
The FCA has retained Green Park to advise on this appointment.
To apply please submit your CV and cover letter using this link - https://app.loxo.co/job/OTUyMS15MjlybzdwcDgzbW1vNmN5?t=1776938910103
For a conversation in confidence, please contact: Kate St John Perry kate.stjohnperry@green-park.co.uk