Senior Benchmarks Supervision Associate

Job Title: Senior Benchmarks Supervision Associate

Division: Supervision, Policy & Competition (SPC)

Department: Infrastructure and Exchanges

• Salary: National (Edinburgh and Leeds) ranging from £53,800 to £67,200 and London £59,200 to £73,800 (salary offered will be based on skills and experience)

• This role is graded as: Senior Associate - Regulatory

• Your external recruitment contact is Steve Christopher via [email protected].
• Your internal recruitment contact is Iona Magee via [email protected].
• Applications must be submitted through our online portal. Applications sent via social media or email will not be accepted.

About the FCA and team

We regulate financial services firms in the UK, to keep financial markets fair, thriving and effective. By joining us, you’ll play a key part in protecting consumers, driving economic growth and shaping the future of financial services in the UK.

We are currently seeking a skilled individual to join the Benchmarks and Credit Rating Agencies Supervision team within the Capital Markets Department. The Capital Markets Department sits within SPC division at the FCA and is responsible for both benchmark and credit rating agencies supervision and policy.

SPC oversees firms and individuals (supervision), creates and reviews the rules by which they operate (policy) and identifies and remedies ineffective competition in markets (competition).

The Benchmarks and Credit Ratings Supervision Team is responsible for supervising UK-regulated benchmark administrators and CRAs in line with the applicable regulatory requirements and the FCA’s Approach to Supervision. Benchmark administrators produce benchmarks that are used across financial markets. Where they perform this role effectively, market participants can rely on accurate and representative measures of underlying market activity. CRAs play a key role in providing an assessment of the creditworthiness of governments, corporates and other issuers of securities. Where they perform this role effectively, investors are well-informed on the risks of investing in these assets and hence, capital is more efficiently allocated. These outcomes contribute particularly to the FCA’s statutory objective for market integrity and its consumer protection objective.

Role responsibilities

• Build trusted supervisory relationships with benchmark administrators, using constructive challenge and direct engagement to bring about positive change and effective regulatory outcomes
• Oversee strategic supervisory initiatives and engage with senior executives to improve governance, controls, methodologies and risk management practices
• Develop specialist expertise across a diverse portfolio of benchmarks, from globally significant indices to those supporting key sectors of the UK economy
• Identify, assess and respond to emerging market risks, applying sound judgement to deliver proportionate interventions that enhance market integrity and confidence
• Partner with colleagues across the FCA to bring together diverse insights, shape supervisory priorities and inform key regulatory decisions
• Collaborate with UK and international regulatory partners to address complex market issues and help deliver fair, effective and resilient financial markets
• Share expertise, present insights and contribute to a collaborative learning culture, enhancing the FCA’s supervisory effectiveness while building skills and experience for future leadership opportunities

Skills required

Minimum:

• Prior experience of working in a regulatory and/or financial services sector with professional experience related to indices and benchmarks
• Prior experience of working with the key risks related to indices and the wider financial ecosystem
• Prior experience in applying diagnostic skills, whether gained in industry, legal and/or financial services

Essential:

• Good understanding of benchmark administrators’ business models, core processes and the potential risks associated with benchmark administration activities
• Demonstrated ability to lead and deliver projects effectively within agreed timelines while managing multiple priorities
• Effective verbal and written communication skills, with the ability to present clear, concise and well-reasoned arguments to a range of stakeholders
• Ability to make informed and timely decisions, acting on own initiative to identify key issues, navigate complexity and escalate matters where appropriate
• Well-developed organisational skills, with the ability to balance competing priorities and manage changing demands effectively
• Flexible and responsive approach, with the ability to adjust to changing requirements and adapt working styles to meet evolving business needs
• Ability to work collaboratively, supporting colleagues and contributing to the successful delivery of shared objectives

Benefits

• 25 days annual leave plus bank holidays
• 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.
• Non-contributory pension (8-12% depending on age) and life assurance at eight times your salary
• Private healthcare with Bupa, income protection and 24/7 Employee Assistance

• 35 hours of paid volunteering annually

• A flexible benefits scheme designed around your lifestyle

For a full list of our benefits and our recruitment process as a whole visit our benefits page.

Our values and culture

Our colleagues are the key to our success as a regulator. We are committed to fostering a diverse and inclusive culture: one that’s free from discrimination and bias, celebrates difference and supports colleagues to deliver at their best. We believe that our differences and similarities enable us to be a better organisation - one that makes better decisions, drives innovation and delivers better regulation.

If you require any adjustments due to a disability or condition, your recruiter is here to help - reach out for tailored support.

We welcome diverse working styles and aim to find flexible solutions that suit both the role and individual needs, including options like part-time and job sharing where applicable.

Disability confident: our hiring approach

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.

Useful information and timelines

Timeline:

• Job advert close: 11th October 2026 at Midnight

• CV Review/Shortlist: 13th October 2026

• Interviews: w/c 19th October 2026

• Your Recruiter will discuss the process in detail with you during screening for the role, therefore, please make them aware if you are going to be unavailable for any date during this time