Economists

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Organisation
Financial Conduct Authority
Locations

London, United Kingdom

Application Deadline
Salary
£46,000 to 65,000

Location: 12 Endeavour Square, London, E20 1JN

Division: Strategy & Competition

The Role

We are looking to recruit Senior Associate Economists to join our Competition and Economics Division.

Our Division – the Competition & Economics Division - is home to economists, lawyers, accountants, data scientists and competition practitioners who are dedicated to working closely with colleagues from across the FCA to ensure high-quality analysis and effective decisions across all aspects of FCA regulation.

These opportunities are available in both the Competition Department and our Economics Department so we welcome applications from both Competition Economists and Economists with broader experience. We will use the interview process to understand which department and team in the FCA you are best suited to.

The Economics Department is responsible for providing economic and financial analysis for FCA’s policy making and market studies, and for the quality of the FCA’s Cost Benefit Analyses (CBAs). It also leads the FCA’s ex-post impact evaluation programme.

What does the role involve? What are the key responsibilities?

As a Senior Associate you will lead economic economic analysis on our projects. You will work alongside colleagues to scrutinise markets and firm behaviour. Your work will include:

  • Scoping economic analysis to address problems, including how certain market features may be causing poor outcomes for consumers
  • Leading on the delivery of high quality economic and/or competition economic analysis, including quantitative economic analysis. Your analysis will be used to make evidence-based decisions and recommendations
  • Providing economic and/or competition economic advice on a range of issues relevant to the FCA
  • Presenting insights and findings clearly and effectively in written work and verbally
  • Develop and support more junior economists within the Competition and Economics Division. For example, you will have the opportunity to work manage junior team members for some projects.
  • (For Competition Economists in particular) 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 and Economics Division, you will get to investigate whether and why financial services markets might not be working well for consumers. You will also help work out what the FCA could do to make those markets work better.

The work will allow you to apply your economic skills to real world problems in financial service markets. You will be asked to scope hypotheses and produce high quality economic analysis to test your hypotheses. You will have access to market-wide data and information to allow you to conduct analysis.

You will be encouraged to present your insights in innovative ways and to a range of audiences including senior colleagues.

You will be part of a thriving professional community and enjoy a challenging environment with a range of opportunities for professional and personal development. You will also have the chance to develop further your economic and/or econometric skills, as well as professional skills, through both formal and informal opportunities, such as online training and multi-day courses.

And ultimately you will get to make a difference – your problem solving will help consumers get access to better financial service markets.

Skills/Experience Required

Minimum

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 qualification in Economics at a Bachelor/Masters/PhD level
  • Proven experience of working with data sets, developing models and performing statistical analysis using software packages (e.g. Excel, Stata, R, Python, SQL)
  • Experience scoping and delivering relevant economic analysis

Essential

  • An interest in solving complex regulatory problems
  • Ability to deliver and thrive in a fast-moving environment, maintaining pace and quality of delivery
  • Ability to apply economic and/or competition principles to issues you are not familiar with
  • Experience of analysing complex information about the behaviour of consumers and firms to inform analysis of markets
  • Experience of producing useful insights based on the pragmatic application of economic principles
  • Ability to work collaboratively and effectively as part of a multi-disciplinary team
  • Experience of working with data sets to produce accurate and thorough analysis
  • (For non-Competition Economists) An interest in and/or experience of cost benefit analysis in remedy design and assessment, and ex post impact evaluation in effective regulation
  • Experience in communicating and explaining complex economic issues impactfully and with clarity and simplicity, orally and in writing, for executive and non-specialist audiences

Desirable

  • Depending on which team you are most suited to, the following skills could be advantageous:
  • Understanding of the UK competition regime and competition powers, including the economics that underpin competition policy.
  • Experience of applying economic thinking to regulatory problems, including cost-benefit analysis, causal chain analysis, ex-post impact evaluation and economic strategic thinking

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.

Divisional Information

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.

Our Division – the Competition & Economics Division - is home to economists, lawyers, accountants and competition practitioners who are dedicated to ensuring the FCA has access to best possible analysis as part of its mission to protect consumers, financial markets and competition.

Much of our analysis is focused on ensuring financial service markets are working well, protecting consumer, promoting competition in the interest of for consumers and enhancing the integrity of the UK financial system.

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, POL C
  • The salary range will be approximately 46,000 to 65,000 GBP plus a competitive benefits package and non-contributory pension
  • Applications for this role close on 7th March at 23:55

If you are interested learning more about the role please contact Julia Coe on Julia.coe@fca.org.uk

Please note – Applications must be submitted through our online portal. Applications sent via email will not be accepted.


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