Senior Competition Policy Associate - London, United Kingdom - Financial Conduct Authority

Financial Conduct Authority

Verified Company

London, United Kingdom

4 days ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

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.

The Competition 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.
Much of our analysis is focused on ensuring financial service firms are competing in the interests of consumers. Our General Insurance Market Study, for example, found evidence of firms gradually increasing the price of different types of insurance upon renewal. This 'pricewalking' was a result of complex and opaque pricing techniques used by firms. It meant loyal customers were paying significantly higher prices and were sometimes being discouraged from shopping around. The analysis carried out in the Competition Division supported an intervention to ban differential pricing between new and existing customers and introduced remedies to make it easier for customers to get out of policies that renew automatically.
We are looking to recruit two Senior Associates to work as competition policy practitioners within the Competition Division. As a Senior Associate within the Competition Division, you will advise on how better outcomes for consumers can be achieved through effective competition. You will help to embed competition thinking within our developing approach and will work to ensure that we are equipped to identify harms that are likely to crystalise as a result of competition not working to the benefit of consumers.
What does this job involve?
You will work alongside colleagues to consider the impact of the FCA's interventions and approach on competition and competitiveness

Your work will include:

Developing contacts across the organisation to gather intelligence that helps us to develop competition theories of harm
Scoping problems that require economic and competition investigation, including market failures that may be causing poor outcomes for consumers
Deciding how to undertake economic and competition investigation, working with economists, accountants, lawyers and data scientists
Contributing to project management, working with the project manager to ensure work is coordinated and on track
Undertaking your own enquiry into economic and competition problems, which could include designing requests for information and evaluating firm responses
Presenting insights and findings in interesting and clear formats including written, PowerPoint and verbally
Advocating for competition with internal stakeholders, helping colleagues to achieve our competition objective
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 improvedYou will also get to present your results in interesting ways and to a range of audiences including senior colleagues.
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

Experience of or a proven understanding of regulation or consumer and/or competition policy
Proven experience of scoping and solving complex problems, ideally problems in markets that require economic and competition investigation
Proven experience of project managing complex projects, including coordinating evidence produced by colleagues working on different parts of the project
Essential
Ability to communicate powerfully orally, in writing and visually
Good outreach and stakeholder management skills
Ability to work collaboratively and effectively as part of a multidisciplinary team
Experience advising and influencing internal and external stakeholders
Desirable
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.

Useful Information

This role is graded as Senior Associate
Regulatory
Applications for this role close on 1st March
The FCA has a national role and is committed to a national footprint. This role can be based in London. Leeds or Edinburgh.
The FCA has London and National Pay ranges to reflect regional differences. The salary for this role