The Financial Conduct Authority is a key part of the regulatory structure in financial services, together with the Prudential Regulation Authority and the Bank of England. We work to make financial markets work well for consumers of financial services.
This role is in the Competition Division (CD). CD leads the FCA's competition mandate and much of our work is focused on ensuring competition in the markets FCA regulates are working well for consumers, with economists, lawyers, accountants and competition practitioners working together to achieve this.
Within CD sits the Competition Economics Department. Our aim is to apply our unique mix of expertise in competition, economics, and quantitative analytical frameworks, working together to:
- Describe what we mean by poor outcomes or harm, and how these could stem from ineffective competition;
- Identify where competition issues might exist currently or in future, and which to prioritise;
- Build robust evidence on those issues and advise on the best way to remedy or mitigate issues by taking proportionate action where appropriate.
As a Senior Associate, you will be a key member of the Competition Economics team, leading on and carrying out the competition and economic analysis to support our projects in a variety of financial services markets. You will play a crucial role in designing and delivering high quality competition economic analysis of markets and firms including to inform remedies, competition law infringement actions and solutions for a positive change.
What does the role involve?
You will work alongside colleagues to scrutinise markets and firm behaviour. Your work will include:
- Scoping problems that require economic and competition investigation, including market failures that may be causing poor outcomes for consumers
- Lead on the delivery of high quality economic and competition analysis, including quantitative economic analysis. Your analysis will be used to make evidence-based decisions and recommendations
- Presenting insights and findings impactfully in interesting and clear formats including written, PowerPoint and verbally
- Advocating for competition with internal stakeholders, helping other parts of the FCA to achieve our competition objective
What will the candidate get from the role?
As part of the competition team, you will get to investigate whether and why financial services markets might not be working well for consumers. You will also help work out how financial services markets could be improved.
The work will allow you to apply your economic skills to real problems in financial service markets. You will be asked to scope hypotheses and produce high quality economic analysis to test your hypotheses.
You will also get to present your results in interesting ways and to a range of audiences including senior colleagues.
Ultimately you will get to make a difference – your problem solving and the crucial role you will play in competition economic analyses will help consumers get access to better financial services markets.
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 Criteria
- An academic background in economics, including a qualification in Economics at a Bachelor/Masters level
- Experience of working with data sets, and performing statistical analysis using software packages (e.g., Stata, R, Python)
- Experience scoping and delivering relevant economic work, ideally in a leading role
Essential Criteria
- Ability to scope and investigate complex issues, ideally issues in markets that require economic and competition analysis
- Ability to analyse complex information on markets and firm behaviour to inform analysis
- Ability to work collaboratively and effectively as part of a multi-disciplinary team.
- An interest in working with economic data sets to produce accurate and thorough analysis
- Ability to communicate powerfully orally, in writing and visually
Desirable Criteria
- Understanding of the UK competition regime and competition powers. At interview you will be expected to demonstrate an understanding of the economics that underpin competition policy
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.
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.
Useful Information
- This role is graded as Senior Associate, Regulatory
- Applications for this role close on Sunday 19th March
The FCA has a national role and is committed to a national footprint. This role would be based in London, but we are open to applications by strong candidates for our Edinburgh and Leeds offices.
The FCA has London and National Pay ranges to reflect regional differences. The salary for this role will be:
- London – £50,000 - £80,000
- National (roles in Edinburgh and Leeds) – £47,000 to £72,000
Please note – Applications must be submitted through our online portal. Applications sent via email will not be accepted.
The FCA currently operates a hybrid way of working, requiring colleagues to spend 40% of their time in the office each month.
If you have any questions please speak to your recruiter or visit the FCA website (or intranet for internal colleagues).
