Lead Associate, Derivatives Team

FCA Perm
London (East)
16 Jul 2017
27 Jul 2017
Job role
Lead Associate, Infrastructure and Trading Firms Derivatives Team, Supervision Investment, Wholesale & Specialists

The salary range will be approximately GBP 60,000 to GBP 70,000 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 Infrastructure and Trading Firms Department plays a key role in supervising the UK wholesale secondary markets. This includes responsibility for supervising market infrastructure, benchmark administrators/submitters and the key trading firms within those markets. We play an important role in identifying risks across secondary markets and taking action to ensure market integrity and promote competition in the financial markets.

The Derivatives Markets team, which is in the Infrastructure and Trading Firms department, is responsible for:

  • The supervision of the UK based derivatives Recognised Investment Exchanges (RIEs) ICE Futures Europe, the London Metal Exchange and CME Europe Ltd and overseas exchanges that have a presence in the UK;
  • Implementing MiFID2 Position Reporting and Limits Regime (PRLR) arrangements and engaging on related commodities policy issues.
What does this job involve?

The key responsibilities of the post holder will be:

  • Leading the supervision of IFEU, driving the supervisory strategy and agenda, thinking strategically about the IFEU and the environment in which it operates, and calibrating the supervisory engagement with IFEU accordingly;
  • Working closely with the Benchmark Supervision Team to coordinate where necessary RIE supervision work for IFEU with benchmark supervision work for the Brent Index, Libor, ISDAFIX and GoldFix;
  • Building and maintaining constructive relationships with IFEU's senior regulatory and business personnel;
  • Working collaboratively with other UK and overseas regulatory authorities that have an interest in IFEU and its market to ensure a harmonised response to proposals that cross the markets based in the UK and overseas;
  • Proactively driving the development of, and maintaining, relationships with key players in metals market to actively address risks already known, or to identify risks not yet identified, to the IFEU and the FCA's objectives;
  • Actively contributing and helping to shape cross-team work including on exchange readiness for MiFID2 and the implementation of the MiFID2 position reporting and position limits arrangements;
  • Deputising for the Manager in his or her absence as appropriate.
What will I get from the role?

Working in the Infrastructure and Trading Firms Team, you will Lead the supervisory effort (with a small team) for ICE Futures Europe (IFEU). IFEU is a significant high impact exchange, provides contracts in fixed income derivatives, equity derivatives, soft commodity derivatives, energy derivatives, and emission allowances, and is part of one of the world's largest international organisation.

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.

  • Experience of the wholesale markets.
  • Strong analytical skills in order to deal with complex and inter-twined issues, bringing logical and reasoned thinking to address them;
  • Experience in stakeholder and relationship management and influencing in order to build and maintain effective working relationships at a senior level with the IFEU, other regulatory authorities, and market participants;
  • The ability to make independent and timely decisions based on the relevant analysis of the issues and circumstances;
  • Strong leadership skills in order to effective manage and motivate a small team;
  • Understanding of energy, interest rate, and/or softs markets;
  • Knowledge and understanding of the regulatory framework and competitive landscape within which RIEs operate;
  • Regulatory, supervisory, or compliance experience of dealing with financial market infrastructure and/or participants;
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 REG C1 and applications close on Sunday 30th July.

Selection process

Stage 1: On-line application, please submit your CV and answer to the following application question:

Why do you believe that you are suitable for this role? Please ensure that you specifically relate your answer to the criteria listed in the job advert, covering your relevant skills, technical knowledge and competencies. (Max 300 words)

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

Stage 3: Selection & assessment process (could be subject to change) 60 min competency based interview and case study.

For external applications, please contact Shazna Chowdhury 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.

This job was originally posted as www.totaljobs.com/job/75073155

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