Co-Director of Market Oversight - FICC

The FCA has retained Odgers to manage this role; please send your application directly to Odgers.

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 customers, building trust in financial markets and protecting vulnerable consumers. 

We’re currently on an exciting journey as we drive forward significant organisational, people, process, and technology transformation to become a more forward-thinking, proactive regulator. We will use data more effectively to drive better regulatory decisions and build greater cohesion across our broad financial services remit.  

Significant improvements in digital enablement, business intelligence, market data and information management maturity are all being pursued to maintain our position as a world leader in financial services regulation. 

In March 2025, the FCA launched a new 5-year strategy to deepen trust, rebalance risk, support growth and improve lives. The FCA will focus on four priorities:

• Be a smarter regulator; predictable, purposeful and proportionate. The FCA will improve its processes and embrace technology to become more efficient and effective.
• Support sustained economic growth, by enabling investment, innovation and ensuring the continued competitiveness of the UK’s world-leading financial services.
• Help consumers navigate their financial lives by working with industry to boost trust, product innovation and ensuring the right information and support is available for people to take financial decisions.
• Fight financial crime, focusing on those who seek to use the fact they are regulated to do harm. It will go further to disrupt criminals and support firms to be an effective line of defence.

The Role  

Few roles offer the opportunity to influence markets that matter so directly to the UK economy, financial services industry and millions of consumers.

As one of the world’s leading financial centres, the UK’s reputation depends on markets that are resilient, competitive, clean and transparent. Strengthening UK wholesale markets and protecting market integrity are central to the FCA’s strategy, and the co-Director of Market Oversight, with responsibility for FICC markets, will play a critical role in delivering these ambitions.

Working alongside the co-Director responsible for equity markets, the role will help lead the FCA’s oversight of wholesale markets, strengthening our ability to anticipate, understand and respond to emerging risks and periods of significant market volatility.

This is a rare opportunity to shape and lead the continued evolution of the FCA’s FICC market oversight capability. The co-Director will bring deep understanding of market dynamics and data flows, alongside the leadership to strengthen teams, develop the operating model and enhance how insight is used across the FCA. Working in close partnership with the co-Director for equity markets, colleagues across the FCA and UK and international regulatory partners, they will strengthen the sharing of data and intelligence and cross-agency and cross-border co-ordination.

What will the candidate get from the role? 

• Strategic influence: Shape the FCA’s approach to FICC markets and wider markets strategy.
• Meaningful impact: Strengthen the resilience and integrity of some of the UK’s most important financial markets.
• Exceptional reach: Work with senior leaders and key stakeholders across UK and international financial markets and regulation.

Key responsibilities:

• FICC strategy and oversight: Lead the FCA’s strategic approach to FICC market oversight, supporting strong, trusted and effective UK wholesale markets.
• Market Oversight Technology Transformation: Lead using technology solutions optimising the surveillance of markets and automation of workflows increasing pace of outcomes.
• Data and analytics: Strengthen the FCA’s market data and analytical capabilities to deepen understanding and oversight of FICC markets.
• Collaboration and operating model: Work with the co-Director for equity markets and across the FCA to deliver an integrated and effective approach to market oversight.
• Leadership and capability: Lead and develop high-performing teams, strengthening the specialist capabilities required to meet evolving market and regulatory priorities.
• External influence and senior leadership: Represent the FCA with UK and international stakeholders and contribute to the FCA’s wider strategy, governance and senior leadership. 

Skills/Experience Required  

We’re proud to be a Disability Confident Employer, and therefore, people or individuals with disabilities and long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. In cases of high application volumes we may progress applicants whose experience most closely matches the role’s key requirements. (To learn more about the Disability Confident Scheme Click Here)

Minimum

• Significant senior-level experience of FICC (Fixed Income, Currencies, and Commodities) markets, with strong knowledge of secondary market trading, market dynamics and risk management.
• Senior leadership experience, including leading teams and delivering significant organisational or strategic change.
• Significant experience operating with senior external stakeholders across financial markets, regulatory bodies or other relevant institutions.

Essential

• Strategic leadership: Sets clear direction, leads through complexity and change, and translates strategic priorities into delivery.
• Judgement and decision-making: Uses evidence, market insight and a risk-based approach to make sound judgements, including in complex or time-critical situations.
• People leadership: Builds inclusive, high-performing teams, develops capability and creates clarity, engagement and accountability.
• Collaboration and influence: Builds strong relationships and influences effectively across organisational boundaries and with senior external stakeholders.
• Data and transformation: Uses data, technology and analytical insight to drive better outcomes and lead improvements in organisational capability.
• Communication and external leadership: Communicates complex issues clearly and credibly, adapting effectively to senior, external and potentially high-profile audiences.

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. We serve the public and our decisions directly affect the wellbeing of people, businesses and the UK economy.  So, our values matter. They represent the culture we aspire to every day, guiding our judgements, building trust and helping us to be ‘At our best’.

The FCA is committed to achieving greater diversity across all levels of our organisation. Given this, we particularly welcome applications from women, disabled, and minority ethnic candidates, as under-represented groups.

As an inclusive employer, we are open to considering flexible working arrangements, including job shares. Please inform your recruiter if you wish to apply for this role on a flexible basis.

As part of the FCA’s on-going commitment to develop our national presence, most of our vacancies are now open to working in our Edinburgh, Leeds or London offices. This means that as part of the application process you will be able to select your preference of which office location you would like to work from.

Application Support

We want to remove any possible barriers and are committed to providing a wide range of reasonable adjustments so that you can keep the focus on your conversations and be at your best.

If you have an accessibility requirement, disability, or condition that means you might require changes to the recruitment process, please contact your recruiter to discuss this further. Our aim is to make you application as easy as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.

Benefits

Our competitive benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can this this allowance to purchase additional benefits such as dental or cycle to work, or you have the option to top up your base salary by taking this as cash.

• Core benefits that you will receive as standard are:
• 30 days holiday per year plus bank holidays
• Private healthcare with Bupa
• A non-contributory Pension 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

Conflicts of interest 

All applicants to the FCA are required to demonstrate that they do not have other interests likely to conflict with their responsibilities as an employee of the FCA. You should declare any potential conflict of interest as early as possible in the selection process, and also disclose information or personal connections that, if appointed, might be open to misperception.  

Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) should they be successful in their application.  

Useful information 

• The closing date for this role is 23:55 on 13th December
• Selection will be via a two-stage interview and psychometric assessment  
• If successful, you will be required to obtain and retain SC Clearance.  
• Colleagues spend a minimum of 50% of their working time in the office each month (60% for Directors and Executive Directors) across our London, Leeds and Edinburgh offices
• The salary range for the role is £200,000 to £275,000 (London), and £180,000 to £248,000 (National)
• The FCA has retained Odgers to manage this role; please send applications directly to Odgers