Director Wholesale Buy-side

Director of Wholesale Buy - side

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.

The work of the division has a significant impact on millions of consumers as well as UK and international wholesale markets. We use a range of regulatory tools to ensure firms have the interests of their clients and the integrity of the market at the heart of how they run their business. This includes setting the standards we expect firms to meet, exploring and analysing identified risks within firms in our sectors through firm specific and cross-firm work; ensuring firms behave appropriately when detriment arises.

We also work closely with trade bodies and other third parties to help determine and communicate trends, forward views and gauge the horizon of risks in the market.

Asset Management is a core part of UK financial markets, helping to invest money on behalf of individuals and institutions and identifying opportunities to fund businesses and sovereigns.

We’re looking for a capable and influential senior leader to help lead our engagement with the sector at a really important time. They will join us as we implement our five-year strategy and continue to harness opportunities in rule making, engagement and use of data to be an ever smarter regulator.

The role holder will lead and deliver work that changes people’s lives for the better, working with others to tackle big questions including the provision of income for later life, and the industry’s potential to contribute to the UK’s economic growth. They will also have a significant opportunity to help build our new culture and shape the FCA into the organisation that we want to be.

The role

The Director of Wholesale Buy-Side is an important senior leadership role which has significant influence in UK financial markets. In addition to leading a directorate of over 100 people, comprising three departments, the role holder will work alongside the Director Leadership Team within the Supervision, Policy and Competition (SPC) Division, and report directly to the Executive Director of Markets.

Wholesale buy-side is a key area of focus for the FCA, and the Directorate is responsible for ensuring the integrity of a key part of the UK wholesale market, for example by monitoring and providing strategic advice on opportunities and risks to UK wholesale markets. The Directorate needs to work closely with other areas within the FCA to ensure that our approach is proportionate and coherent across the entire value chain – from wholesale markets to distribution to consumer. The Wholesale buy-side directorate is responsible for the authorisation of funds, regulation of asset management and alternative investment firms, and their funds, custody banks, research firms as well as the development of policy in these areas, including funds policy.

The role holder is responsible for identifying and implementing the FCA’s strategic outcomes for this market. They are responsible for ensuring there are appropriate policy standards for the market, for the supervisory oversight of activities and for regulatory interventions to prevent harm. The Director will also play a key role in shaping and delivering the organisation’s transformation into a forward looking, data-led and proactive regulator.

What does this job involve?

• Playing a key role as an active member of the Supervision, Policy and Competition (SPC) Division and the wider FCA senior leadership team, helping implement the five-year strategy for the FCA, and driving forward key interventions to support the development of our people in the division and the FCA as a whole.
• Ensuring there are strategies and plans in place that support growth in the markets, and deliver agreed FCA outcome, including being a smarter regulator.
• Work effectively across organisational boundaries to achieve outcomes.
• Building a strong, diverse and inclusive directorate through attracting talent and developing existing talent.
• Accountable for the authorisation of funds and supervision of firms within the Wholesale buy-side directorate.
• Leading and executing a data led strategy to systematically assess firms and implement appropriate tools in the delivery of agreed outcomes, in line with the wider FCA strategy.
• Working closely with internal, external and international partners ensuring appropriate policy standards are in place and effective in relation to Wholesale buy-side firms.
• Promoting and representing the FCA perspective both internally and externally.
• Working jointly with other SPC Directors, in particular Wholesale sell-side, Infrastructure & Exchanges, Consumer Investments and Sustainable Finance, to deliver market-specific and cross-SPC outcomes, playing a significant role in delivering cross-FCA projects.
• Ensuring an operating model that delivers the desired market outcomes in the sector to an agreed budget and within deadlines, with a focus on continuous improvement and delivering at pace.
• Maintaining constructive and effective relationships with firms and trade bodies.

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 directorate of talented and committed people through significant projects and programmes whilst also delivering on business-as-usual objectives.
• Exposure to strategic issues and key players in the world of finance, both nationally and internationally.

Skills/Experience required

The FCA are 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. For example, ‘Experience of employment law’ is measurable from looking at someone’s CV but ‘Knowledge of HR practices’ is not.

Minimum

• Extensive experience of leadership and people management, demonstrating commitment to diversity & inclusions and empowering leadership.
• Strong track record of delivering strategies and problem-solving.
• Strong operational delivery skills and experience of driving effective operational performance across diverse teams.
• Experience of role modelling strong leadership behaviours in line with organisational values.
• Experience of using data strategically to systematically assess market and/or firm outcomes.
• Experience of driving change and process efficiency/improvements, delivering value for money and innovation.

Essential

• Strong stakeholder management and communication capabilities.
• Commercial thinker able to lead strategic planning of resources, budgets and capability strategies to deliver an effective value for money operation aligned to strategic market outcomes.
• Experience/knowledge of the regulatory environment and/or the Wholesale buy-side market.
• Understanding of the financial services market in the UK and how firms operate within it.
• Understanding of new or technology-led business models within financial services, or a proven track record of being able to get up to speed with associated risks.
• Ability to lead significant multidisciplinary projects and programmes which embody effective teamwork.
• Experience of using MI strategically to assess outcomes and measure performance.
• Ability to influence and work effectively and collaboratively with peers.
• Ability to learn quickly about relevant regulatory issues.
• Ability to role-model the FCA values.

Desirable

• Knowledge and awareness of the FCA supervisory and policy approaches.

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 ongoing 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 your 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 close date for this role is midnight on Tuesday 20 May 2025.
• This role can be London, Edinburgh or Leeds based.
• Salary range- London £200 K to £255 K, and National £180 K to £230 K.
• If successful, you will be required to obtain and retain SC Clearance.
• We operate a hybrid working policy with an expectation all colleagues are in the office a minimum of 40% of their time. We expect senior leaders to spend a minimum of 50% of their working time each month in the office.
• Please submit a CV and covering letter via below Odgers link.

The FCA has retained Odgers to advise on this appointment.

For further information about the position and additional details on qualifications, requirements, terms and conditions of service and how to apply, please contact:

Cara Wood - Cara.wood@odgersberndtson.com

Melisa Costinea - Melisa.costinea@odgersberndtson.com and apply using the link below:

https://www.odgers.com/93689