City regulator recruiting for senior roles to oversee credit sector
The City watchdog is looking to make a number of senior hires who will oversee the peer-to-peer lending sector and the wider credit space.
The Financial Conduct Authority (FCA), which is currently battling the unions over pay, is ramping up its recruitment drive and is on the hunt for a director of consumer finance and a lead supervisor for credit and debt services.
In the job advert for the director of consumer finance, the regulator called the role “an important senior leadership role which has significant influence in UK financial markets”.
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The watchdog said the role involves being responsible for the regulation of 36,000 non-bank retail lending firms, leading around 125 to 150 people and working with the director leadership team within the supervision, policy and competition division. The applicant would report directly to the executive director of consumers and competition.
The FCA is also advertising for a lead supervisor for credit and debt services for its retail lending department within its supervision, policy and competition division, which is in charge of developing and delivering strategies to prevent harm to consumers whilst promoting competition.
The job advert said that the lead associate will support the management team in running the department and supervise firms by building supervisory cases.
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The FCA is also advertising for a number of other roles regarding supervisions, interventions and authorisations.
The regulator is expecting 200 staff to join in the first quarter of this year.
This comes as the FCA has come under fire from angry staff who have threatened strike action over new chief executive Nikhil Rathi’s transformation plans, which include changes to pay.
The consultation on the proposed changes to the pay structure opened on 21 September and closed on 20 December 2021. This month the regulator is finalising the changes ahead of implementing them from 1 April 2022.