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Prudential Risk Specialist (Senior Associate)
Prudential Risk Specialist - Senior Associate, Prudential Specialists Department
The salary range will be approximately 60,000 to 85,000 GBP plus a competitive benefits package and non-contributory pension.
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 Prudential Specialists Department (PSD) is one of the specialist departments in the FCA. We work in partnership with supervisors on prudential risks. Our aims are to identify prudential strain and to minimise the risk of disorderly failure. We primarily do this by providing technical support to supervisors on capital and liquidity assessments. We also collaborate with teams from across the FCA to identify and mitigate sector wide themes.

We are recruiting for a talented Prudential Risk Specialist (Senior Associate). This role provides a great opportunity to broaden and deepen your technical and regulatory expertise, as well as gaining exposure to a range of sectors. This is also an exciting time to join the department as you will be able to influence our approach to prudential regulation and how this helps deliver the FCA\'s mission.
What does this job involve?
Within a tightly knit team, the specialist is responsible for the assessment of capital and liquidity adequacy (Financial Resource Requirements) of all of the FCA\'s prudential category 1 and 2 firms, and category 3 firms where they are subject to the Capital Requirements Regulation; specifically, this involves assessing via desk-based work and/or firm visits the adequacy of a firm\'s capital and liquidity assessment (ICAAP and ILAA, or equivalent under non-IFPRU regimes) and opining on Pillar 2, bearing in mind that:
  • FCA solo-regulated firms are subject to a wider range of prudential regimes than IFPRU
  • Due notice must be paid to Financial Resource Requirements in relation to firms\' wind-down plans
  • Most FCA firms\' capital requirements will be driven by the Pillar 2 component
  • PSD specialists operate with firms spanning different sectors and business models

Specialists within the team are expected to acquire mastery over time of both the FCA\'s liquidity regime as well the various capital regimes.

Finally, PSD specialists assist during crisis management in the event of a firm entering distress.
What will I get from the role?
Working in the Prudential Specialists team, you will have a rare opportunity to understand and shape the workings of the financial sector at a time of considerable change. You will enjoy a unique aerial view of the financial services industry, with the opportunity to do meaningful work that makes a real difference.

You will have the opportunity to work with and influence a wide range of industry professionals, both internally and externally to the FCA.

As an Academy business we place great value on your learning and we offer world-class development opportunities which will assist you in achieving your career aspirations. Our Academy offers you a range of opportunities for personal and professional development, including our MSC in financial regulation, Advanced Managers programme, sponsored study and more.
Which minimum, essential & desirable skills are required? Minimum
We\'re a signatory to the Government\'s Disability Confident scheme. This means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.
  • A university degree or significant experience in a subject related to risk management, finance, or another quantitative topic.
  • Previous experience leading complex projects.
  • Knowledge: Experience of relevant prudential risk and regulatory frameworks.
  • Knowledge: Hands-on experience in determining capital and/or liquidity requirements.
  • Judgements: The ability to make logical and timely decisions, cutting through complexity and seeing the big picture.
  • Professional excellence: Ability to interact appropriately with individuals at firms whilst maintaining the integrity of messages that may need to be conveyed, and ensuring consistency of outcomes.
  • Communication: Can demonstrate the ability to explain complex issues succinctly and with clarity to both internal and external audiences; both orally and in writing.
  • Collaboration: A good team player demonstrating respect for others and the impact and influence to generate shared goals for the Department.
  • Collaboration: The ability to identify and manage key stakeholders, building rapport and constructive relationships. Ability to make a strong personal impact, persuading with well-reasoned arguments and challenging where appropriate.
  • Understanding the FCA\'s approach to the regulation of financial institutions.
  • Good knowledge of the Basel framework and its implementation in the EU and UK
  • Familiarity with non-IFPRU prudential regimes
  • Risk background
  • Stress-testing experience
  • An advanced university degree in a subject related to risk management, finance, or another quantitative topic
  • A further professional qualification (ACA, ACCA, FRM, CFA, etc)
Additional Information
As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

The job family for this role is Risk C and applications close on 18th March 2018.
Selection process
Stage 1: On-line application, please submit your CV and answer to the following application question:

Please describe a prudential issue that you identified in a firm or that you have been involved in. Why was it important, what actions did you propose, and what was the outcome?

(Max 500 words)

Stage 2: Screening - your application will then be forwarded to the recruiting managers

Stage 3: Selection & assessment process (could be subject to change) - Technical and competency based interview, followed by a second stage interview.

For internal applications, please contact Tim Dent on if you have any questions about the role.

For external applications, please contact Kavi Vadera on if you have any questions about the role.

This role will be based in London, Canary Wharf, with a planned move in 2018 to a new site in The International Quarter, Stratford .

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Job Details
Job Ref: 363163152
Start Date: Thu, 01 Mar 2018 19:00:00 EST
Hours: Not Specified
Location: London, United Kingdom
Working Term: Permanent
Salary: British Pound . GBP British Pound . GBP - Annual Annual

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