We are currently recruiting for Associates to join our Economics Division.
The Economics Division is expanding its Analysis, Research and Evaluation (ARE) function with a focussed programme of work. The ARE programme aims to enhance the analytical and intellectual underpinning for the FCA’s strategic decision-making, and policy and regulatory work, to support it being a proactive, evidence-driven and agile regulator. The ARE programme includes, for example, a rich programme of evaluation projects, the expansion of our horizon scanning and scenario building capability, and development of real- and near-time monitoring indicators of the macroeconomy.
The Economics Division, which is formed by a vibrant mix of nationalities, works closely with colleagues across the FCA to ensure high-quality analysis and effective decisions across all aspects of FCA regulation. For example, it is responsible for providing economic analysis for FCA’s policy making in retail and wholesale financial markets, for the quality of the FCA’s Cost Benefit Analyses (CBAs), and for the FCA’s ex-post impact evaluation framework and programme. We are currently reviewing both our CBA and evaluation frameworks in preparation for the new Financial Services Bill, to be introduced in 2023.
This is an exciting opportunity for highly- skilled individuals to help us shape and lead the FCA’s work on critical issues related to protecting consumers and promoting competition in financial markets.
What does the role involve?
As part of our team, you will play a key role contributing to our analytical work in financial markets. Drawing on your economic skills, you will contribute with analysis and economic advice on a range of issues relevant to the FCA.
You will contribute to the delivery of evaluation projects, and/or economic and/or data analysis in retail and wholesale markets, and/or macroeconomic scenario planning and analysis. The precise scope of the role will take account of your skills and interests.
As an Associate you will have the opportunity to play an integral role in contributing to our decision-making process, directly influencing our policymaking activity and our approach to regulation. Drawing on a mixture of quantitative and qualitative techniques, you will contribute to the scoping and delivering of analysis to ensure our evidence base for strategy-setting, policy-making and evaluation is robust and rigorous. You will also have access to data-sets available to the FCA, as the financial services regulator, to conduct your analyses. You will also provide advice to FCA policy teams on how their policies can best be monitored and evaluated.
The projects involve tight deadlines and varying degrees of depth and rigour.
In addition to providing robust, evidence-based analysis, you will be skilled in communicating your findings to a range of internal and external audiences (including non-technical senior stakeholders).
As part of your role, you will manage several relationships with internal stakeholders and act as an advocate for the Economics Division – seeking out ways to share your economic knowledge.
We are looking for a candidate who has some experience in one or more of the following:
- framing problems in an economic framework and in an easily digestible format and setting up analytical work to understand policy problems and identify solutions.
- experience carrying out econometric and/or data science analysis to inform policy development or evaluation or to research policy questions.
- experience delivering evaluation projects that combine both quantitative and qualitative research analysis.
What will the candidate get from the role?
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 influence senior decision makers.
You will be part of a thriving professional community and enjoy a stimulating environment with a range of opportunities for professional and personal development.
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.
- A degree in economics (or related discipline) with some relevant professional experience.
- Analytical and quantitative skills to conduct analysis in financial markets.
- Ability to provide high-quality economic and/or analytical advice.
- Ability to deliver analytical projects, including identifying and analysing different sources of information to inform analysis.
- Ability to apply economic/analytical principles to issues you are not familiar with.
- Experience in communicating and explaining complex issues with clarity, simplicity and precision to both specialist and non-specialist audiences both orally and in writing.
- Ability to make a strong personal impact, persuading with well-reasoned arguments and challenging where appropriate.
- Ability to work collaboratively and effectively with internal and external stakeholders, developing and maintaining working relationships.
- Ability to prioritise work delivering to tight deadlines.
- Being comfortable with ambiguity and uncertainty.
- Understanding of financial services regulation and knowledge of financial markets gained through professional experience or academic studies.
- Coding skills in Stata, R or Python to analyse large, complex datasets
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 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.
The FCA supports hybrid working and you will be expected to work 40% of your time over a month, in our office. We will consider other flexible arrangements, for example part time working, and you can discuss this with the recruiter.
- This role is graded as Associate - Regulatory
The FCA has a national role and is committed to a national footprint. This role can be based in London, Leeds and Edinburgh. The FCA has London and National Pay ranges to reflect regional differences. The base salary range for this role is up to £58,000 per annum in London and £52,000 in Leeds and Edinburgh, plus an additional flexible allowance. Our competitive flexible 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 top up your base salary by taking this as cash.
Core benefits that you will receive as standard are:
- 25 days holiday per year
- Private medical for yourself
- Pension contributions 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
If you are interested learning more about the role please contact:
Please note – Applications must be submitted through our online portal. Applications sent via email will not be accepted.