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
We’re looking for a talented and influential Head of Department to lead and play a key leadership role as we transform into a more innovative, adaptive and assertive regulator.
The Wholesale Buy-side Directorate is responsible for the regulation of the UK’s vibrant and important asset management sector, including supervision of firms managing £14.1trn and their funds, authorising new UK funds, and setting policy that leads to successful markets, provides protection to consumers, and promotes competition.
Within the directorate, this HoD will lead on the supervision of firms and their funds and the authorisation of funds, focusing on those asset managers that can serve retail investors. This will involve setting specific strategies for the strategies for the largest fund managers in the market, analysing risks and determining data-led strategies for identifying areas of harm. The department will take action to prevent harm occurring or stop harm where it has been identified, making effective use of a wide range of tools and powers.
The successful candidate will be empowered, and expected, to take strategic decisions in the interest of the market, department, and FCA, including in respect of design of supervision, strategy and risk appetite.
The role will report to Wholesale Buy-Side Director and is a key role within the wider Wholesale senior leadership team. You will work alongside the HoD Private Markets Asset Management and HoD Wholesale Buyside Policy.
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 department of talented and committed people through significant projects whilst also delivering on business-as-usual objectives
Exposure to strategic issues and key players in finance, both nationally and internationally
Key responsibilities:
Building on and delivering a long-term supervisory strategy for the retail-facing asset management sector, including developing and demonstrating measures of success.
Developing and delivering appropriate structures, processes and strategies for the department, aligning to broader divisional and organisational strategies, in areas such as funds, model portfolios, and firm supervision.
Setting risk appetite, identifying connections with other areas of the asset management value chain and wholesale markets, and ensuring that supervisors have the confidence and support to intervene using the full range of FCA tools.
Leading on performance, capability, and culture within the department, with a strong focus on operational excellence.
Consistent with the FCA’s Transformation, the department has an opportunity to invest in data and technology, particularly in the relation to the systems and processes for fund authorisations. The successful candidate will play an important role in delivering that project, ensuring that it delivers benefits to regulatory outcomes and the change process is a positive experience for the team.
Building and managing a strong and inclusive department that attracts and develops diverse talent. The department currently has approximately 40 team members.
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
Experience and exposure to the regulation and risks in the asset management and related services sector
Proven track record in leading, organising and delivering on a broad portfolio of complex and politically sensitive work on highly topical issues
Ability to drive change and process efficiency/improvements, delivering value for money and innovation, and encouraging capacity building and continuous improvement
Experience managing large teams
Demonstrated understanding of asset management products, business processes (including compliance, sales, operations and investments), service providers, and drivers of business performance
Essential
Experience with dealing with industry groups and both small and large asset management firms in the UK
Knowledge and awareness of the FCA supervisory and policy approaches.
Ability to identify and manage stakeholders at CEO level in supervised firms, building rapport and constructive relationships, and to be an influential representative for the FCA
Excellent communication, verbal and written, including use of evidence and data
Collaborative and flexible approach
Resilience in the face of challenge, with an ability to adjust course in the light of evidence to make balanced decisions/judgements
Ability to deal with a wide range of issues and manage competing priorities effectively
Experience and desire to support the development of department colleagues, and tackle any performance issues, to build a high performing department
The ability to inclusively lead a group of talented individuals with a wide variety of professional expertise, experience, and backgrounds
Desirable
Strong understanding of the FCA’s regulatory powers, responsibilities, operations, and supervisory frameworks
Strong proficiency with data management and visualisation tools such as Tableau and Excel
Experience setting strategy for a significant function
Understanding of the financial services market in the UK and how firms operate within it
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 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:
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 Wednesday 21 January.
Selection will be via a two-stage interview and psychometric assessment
If successful, you will be required to obtain and retain SC Clearance.
We operate a hybrid working policy with an expectation that senior leaders spend a minimum of 50% of their working time each month in the office.
The salary range for the role is London £130,000-£165,000 and National £118,000-£148,500
To apply please submit your CV and cover letter.
For further information about the role, please contact tara.cassar@fca.org.uk