We are looking to recruit a talented Associate with experience of the regulatory environment, particularly in relation to insurance. You’ll help ensure authorisation functions provide firms with a coherent and consistent regulatory journey.
The insurance sector continues to evolve in response to technological innovation, changing market dynamics and increasing customer demands. Your role will be to lead and support assessments against the Threshold Conditions, thereby identifying and mitigating the Risks of Harm that manifest in applicant insurers, especially from a Conduct perspective.
You will be working on complex and high profile assessments. Your engagement with stakeholders in the FCA and PRA will be extensive and you will need to escalate matters regularly and influence firms and stakeholders well.
What does the role involve? What are the key responsibilities?
What will the candidate get from the role?
Working in the Insurance team and Retail department, you will benefit from:
We’re a signatory to the Government’s Disability Confident scheme. This means that we will offer an interview to disabled candidates entering under the scheme, should they meet the minimum criteria for a role. A minimum criterion needs to be measurable from reviewing a candidate’s CV. Exceptions may apply if due to the volume of applications we are not able to interview all eligible candidates who qualify under the scheme.
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 their customers, building trust in financial markets and protecting vulnerable consumers.
Our division is the first point of entry for firms and individuals entering the financial services industry and is responsible for protecting consumers by ensuring that firms who do not meet the required standard cannot enter the financial services market.
The team assesses applications for authorisation, variation of permission and transfers of business from insurers. For insurance applications, the team form part of the New Insurer Start-up Unit (see https://www.bankofengland.co.uk/prudential-regulation/new-insurer-start-up-unit) which is a joint venture between the FCA and the PRA.
Our work also involves a number of Brexit-related applications from existing retail and wholesale insurers, creating a unique opportunity to assess these firms at the gateway.
The applications that we deal with are high profile and often very complex. Our assessment is focused on whether the applicant meets the Threshold Conditions in consideration of the FCA’s overall objectives.
The team leads on the assessment of these applications for the FCA and we liaise with a range of internal stakeholders in deciding whether or not to provide the FCA’s consent for the PRA to authorise the firm.
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.
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.
Selection process (subject to change)
Stage 1: On-line application, please submit your CV
Stage 2: Screening – your application will then be forwarded to the recruiting manager
Stage 3: Selection & assessment process will consist of one or more technical case studies, a role play and competency based interview.
If you would like to know more about this role, please contact Aaisha Sheikh on [email protected] or for internal applications please contact Michael Boer.
Please note Applications must be submitted through our online portal. Applications sent via email will not be accepted.
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