Technical specialist

Are you interested in a role that places you at the heart of the UK’s capital markets, providing a unique insight into market developments and helping to ensure our markets are trusted and orderly?

We are looking for a Technical Specialist to join our Primary Market Monitoring team. The team sits within the FCA’s Primary Market Oversight Department and is responsible for ‘real time’ surveillance of the UK’s primary markets, helping to ensure compliance with the Market Abuse Regulation and responding to live market issues affecting listed and traded companies. The team also oversees compliance with a wide range of disclosure obligations under the UK disclosure and transparency regime.

The individual will work alongside the team manager to support the team in performing its key functions. This includes providing specialist advice and support on how the Market Abuse Regulation and the other disclosure obligations of the UK regime apply to listed firms. Given the live market nature of the role, some out of hours work will be necessary.

Background

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 ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator.

Market Oversight is the part of the FCA responsible for overseeing primary and secondary market activity through its role under the listing, market abuse and short-selling regimes. Market Oversight aims to discharge these responsibilities in a way which is proportionate, risk-focused and forward-looking, through education of the market, and using a range of tools and techniques. Our work protects consumers and delivers market integrity by ensuring high standards of market practice and appropriate disclosure so our markets will function well.

Primary Market Oversight is a department within Market Oversight focused on ensuring trusted and orderly primary securities markets in the UK. We do this through market surveillance and by monitoring the compliance of market participants with their obligations under the applicable UK and (including the FCA’s Listing, Prospectus and Transparency Rules along with the primary market aspects of the UK Market Abuse Regulation (MAR)) and also via the specialist supervision of Sponsor firms and Primary Information Providers. The work is market-facing, often high-profile, and places the FCA at the centre of the UK’s securities market. 

What does the job involve?

As a technical specialist within the Primary Market Monitoring team, the individual will provide support to the team across a wide range of activity, including:

  • Acting as a specialist on MAR and other relevant aspects of the UK disclosure regime as they relate to issuers
  • Engaging with and challenging listed and traded issuers and their advisers in relation to market events, to determine the appropriate response by the company or by the FCA
  • Providing responses to guidance requests from listed issuers and advisors, finding appropriate solutions to often complex regulatory issues
  • Acting as a decision maker for the team
  • Participating in stakeholder engagement meetings and providing appropriate support to the manager in preparation for these events
  • Attending cross FCA and Market Oversight meetings on behalf of the team, to recognise and identify disclosure issues and ensuring that these are understood and escalated
  • Working closely with our legal colleagues in the FCA’s General Counsel Division to gain legal views on more complex disclosure issues
  • Working closely with colleagues on the application of MAR to internal policy and supervision matters
  • Assisting policy teams within the FCA in responding to queries and requests for opinions and briefs which will be used to communicate our view to other relevant regulatory bodies and potentially to the wider market
  • Working closely with the PMM manager to develop the team’s strategy
  • Providing expert support to other teams on disclosure matters
  • Contributing to the overall development and strategy of the Primary Market Oversight Department
  • Specialism

    The individual will also focus on the following areas:

  • Being an interface between FCA teams to develop FCA positions on cases involving inside information and disclosure considerations
  • Working closely with Market Oversight colleagues to provide input and advice to other regulators where there is a market disclosure angle
  • Ensuring succession planning within the team, identifying and developing team members, and providing them with opportunities to “grow” on the job
  • Ensuring the team’s knowledge management and business procedures are up to date and fit for purpose
  • What will the candidate get from the role?

  • An excellent opportunity to use your knowledge of MAR to improve the integrity of UK primary markets 
  • A chance to further develop your expertise in MAR and the disclosure requirements that apply to listed and traded companies and contribute to the learning of others in the team and the wider FCA
  • You will be able, and expected to, interact and represent the FCA with very senior external stakeholders from firms and other regulatory bodies
  • You will work with senior stakeholders at the FCA and have opportunities to understand and support the wider work of the organisation
  • Skills/Experience Required

    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.

    Minimum

  • Professional experience of applying the Market Abuse Regulation
  • Worked in a role with exposure to listed Issuers where there has been a need to provide advice on the UK disclosure regime
  • Ability to work ad hoc out of normal business hours (including early morning, evenings and weekends) if the circumstances require
  • Essential

  • Strong analytical and communications skills honed at a senior level – up to and including external c-suite stakeholders
  • Strong team player with prior experience of mentoring and developing a team
  • The ability to make sound, evidence-based judgments and decisions alongside a flexible and adaptable approach, in a fast paced and pressurised environment
  • Self-starter with proactive approach to acquiring skills and getting the job completed.
  • Curiosity with an enthusiasm for learning and sharing knowledge
  • Desirable

  • Experience of supporting listed issuers who are also regulated by the PRA and FCA
  • Useful Information

  • The job family for this role is REG D1
  • The salary range will be approximately £70,000- £118,000 plus a competitive benefits package and non-contributory pension. 
  • Applications close on 30th November 2021 at 23.59  – Late applications will not be accepted. 
  • Applications must be made via the online system, applications made via email will NOT be accepted.
  • Contact Ian Burton for more information
  • We do not require you to submit a cover letter or answer a suitability question so please ensure that you CV demonstrates how you are eligible for this role.
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