Technology Risk Specialist
Technology Risk Specialist - Associate - Technology, Resilience and Outsourcing (TRO)
There are few jobs where you can make a real difference to the 2 million people who work in the UK Financial Services industry, the 40 million consumers of financial products and the stability of our economy as a whole.
From regulating Consumer Credit to driving action on Foreign Exchange manipulation or helping strengthen accountability in the banking sector, the FCA is working with industry to protect consumers, ensure the integrity of the UK financial system and promote fair and effective competition. Our remit has expanded significantly since our creation in 2013, with the number of firms we regulate growing from 23,000 to over 56,000. We oversee conduct across the full span of the financial sector from global investment banks to high street payday lenders, and are now preparing to implement a new strategy that will sharpen our focus to face the regulatory challenges ahead.
The Technology, Resilience & Outsourcing (TRO) team sits within the Specialists Supervision Division. The team is a center of excellence within the FCA and supports the Supervision department and various other teams across the FCA (such as Authorisations and Markets) with IT and operational resilience expertise.
The team interfaces regularly with a number of other regulatory bodies in the UK such as the Bank of England (BoE), the Prudential Regulation Authority (PRA), Her Majesty's Treasury (HMT) as well as Pan-European and global regulatory colleagues on a range of IT and operational resilience supervisory topics.
Opportunities have become available for Technology Risk Specialists within the TRO team to work as part of a project team exclusively reviewing applications from firms requiring new permissions under the Markets in Financial Instruments Directive (MiFID II).
The successful candidates will be involved specifically in technology risk assessments and will gain in-depth knowledge of both MiFID II regulatory technical standards and the FCA's expectations for firms' Technology Risk management capabilities.
What does this job involve?
This role supports delivery of departmental and FCA objectives through delivery of a challenging and varied portfolio of work, covering the remit of MiFID II permissions. The job is an ideal position to demonstrate your specialist expertise in Technology Risk management, leverage this expertise to support the FCA objectives.
Your role will involve:
- Analysing, assessing and investigating high-risk/complex applications from wholesale firms and making robust risk based judgements
- Managing a large case portfolio ahead of statutory deadlines as well as taking on additional responsibilities eg project work
- Liaising with internal and external stakeholders to progress applications
- Communicating with firms to resolve any issues, which are followed through to a timely resolution
- Delivering difficult messages to applicant firms and/or external stakeholders
- Drafting clear and concise documentation
- Presenting information to Senior Management and/or Committees
- Sharing your knowledge and expertise with colleagues
Which minimum, essential & desirable skills are required?
- Experience of assessing technology risk across one or more sectors regulated by the FCA (Banking, Insurance, Investment Firms, Asset Managers and Market Infrastructure Providers) and its impact on business and FCA objectives;
- Experience across all technology risk management domains (strategy; governance and risk management; security, data, change management; service delivery; resilience and business continuity);
- An industry recognised qualification eg QiCA, CISA, CISM, CISSP, MBCI etc.
- Good analytical capability with appropriate application of judgement; can demonstrate taking pride in work and ensuring it is of the highest standard.
- Strong oral and written communication skills including clear and effective presentation to both internal and external audiences.
- Experience of project management including developing and delivering against plans, managing risks and issues along the way.
- Good interpersonal skills with evidence of team working, confidence and credibility, ability to interact effectively with a range of stakeholders
- Knowledge of European Directives (in particular MIFID and CRDIV) and of the FCA Handbook (COND, COBS, MAR, SYSC, IFPRU, BIPRU)
What will I get from the role?
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 get involved in identifying technology compliance with respect to the MIFID II framework across the breadth of the financial sector.
You work with and influence a wide range of industry professionals, both internally and externally to the FCA and to gain exposure to senior executives both within the industry and the FCA.
This is a 6 - 11 month Fixed Term Contract role.
The job family for the role is Risk C.
The salary range is 65,000 - 75,000 GBP pro-rata.
Applications for this role close at midnight on 18th December 2016.
Stage 1. On-line application, please submit your CV and answers 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: Competency Interview - testing analytical and investigative skills, decision making and judgement, personal accountability (in particular, being proactive in identifying issues or ways to improve process and to take responsibility for personal development), oral and written communication skills and team working..
This role will be based in London, Canary Wharf, with a planned move to Stratford in 2018.