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For Companies At a Glance
- Tasks: Analyse consumer lending data and ensure fair treatment of customers.
- Company: Join the FCA, a leader in regulating UK financial services.
- Benefits: Competitive salary, 25 days annual leave, and opportunities for professional growth.
- Why this job: Make a real difference in protecting consumers and shaping UK finance.
- Qualifications: Experience in retail lending and strong analytical skills required.
- Other info: Collaborative team environment with a focus on continuous improvement.
The predicted salary is between 43100 - 50267 £ per year.
Overview
Division: Supervision, Policy & Competition
Department: Market Intervention - Consumer Lending
Salary: National (Edinburgh and Leeds) ranging £43,100 to £50,266.67 and London from £47,300 to £55,166.66 (salary offered will be based on skills and experience)
This role is graded as: Associate, Regulatory
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 UK finance services.
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). Within the Consumer Finance directorate, we are recruiting Supervisors for our Consumer Lending Department - specifically in the High-Cost Lenders and Mainstream Lenders teams. These roles work collaboratively to address market harms through frontline supervision, informed by diverse regulatory and industry knowledge.
Role responsibilities
- Review and analyse data and information from mainstream lenders and high-cost credit firms to assess their business models, identifying and mitigating risks that could harm UK consumers.
- Support work to address problems identified within firms and across the consumer credit market, ensuring compliance and fair treatment of customers.
- Draft clear and concise correspondence to firms and stakeholders.
- Develop constructive relationships with senior stakeholders to communicate progress on supervisory actions and secure positive outcomes.
- Contribute ideas to improve internal processes and encourage wider divisional improvements for more effective supervision.
- Oversee continuous improvement and monitoring of Consumer Duty within mainstream lending and high-cost credit firms, ensuring good customer outcomes.
- Challenge practices that risk poor consumer outcomes, focusing on affordability and treatment of customers in financial difficulty, ensuring firms take corrective action where necessary.
Skills required
- Minimum: Prior experience of retail lending, consumer finance and financial services regulatory framework.
- Demonstrable experience of assessing and analysing information and presenting work to others.
- Essential: A demonstrated ability to prioritise your workload, manage your time effectively, and apply acumen to navigate challenges in a demanding setting.
- Effective communication skills: you will need to demonstrate an ability to communicate effectively with a diverse audience, including working collaboratively with stakeholders.
- Demonstrated sense of accountability: you should be able to show that you initiate pragmatic action-based solutions to problems.
- Ability to prepare documents and briefing notes ahead of firm meetings, engaging effectively with firms in writing to support delivery of good consumer outcomes.
- Experience of identifying the business model, financial or regulatory risks posed by firms, the consumer harms which might result from these risks and appropriate tools for mitigation.
- An understanding and experience in dealing with issues impacting consumers in vulnerable circumstances.
- An extensive understanding of regulatory finance and consumer protection, including an understanding of the regulatory framework including handbook rules and guidance.
Benefits: 25 days annual leave plus
Consumer Lending Associate in Edinburgh employer: Financial Conduct Authority
Contact Detail:
Financial Conduct Authority Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Consumer Lending Associate in Edinburgh
✨Tip Number 1
Get to know the company inside out! Research the FCA's values and recent initiatives in consumer lending. This will help us tailor our conversations during interviews and show that we're genuinely interested in making a difference.
✨Tip Number 2
Network like a pro! Connect with current employees on LinkedIn or attend industry events. Building relationships can give us insider info about the role and even lead to referrals, which can be a game-changer in landing that job.
✨Tip Number 3
Prepare for those tricky interview questions! Think about how our past experiences relate to the skills needed for the Consumer Lending Associate role. Practising our responses will help us feel more confident and articulate during the actual interview.
✨Tip Number 4
Don’t forget to follow up! After an interview, send a quick thank-you email to express our appreciation for the opportunity. It’s a nice touch that keeps us on their radar and shows our enthusiasm for the position.
We think you need these skills to ace Consumer Lending Associate in Edinburgh
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your application to highlight how your experience aligns with the Consumer Lending Associate role. We want to see how you can contribute to our mission of protecting consumers and driving economic growth.
Showcase Your Skills: Don’t just list your skills; demonstrate them! Use specific examples from your past experiences that showcase your ability to analyse data, communicate effectively, and manage your workload. This will help us see how you fit into our team.
Be Clear and Concise: When drafting your application, clarity is key. We appreciate straightforward language that gets to the point. Avoid jargon unless it’s relevant, and make sure your writing reflects the effective communication skills we’re looking for.
Apply Through Our Website: Remember, applications must be submitted through our online portal. We won’t accept applications via social media or email, so make sure you head over to our website to get your application in!
How to prepare for a job interview at Financial Conduct Authority
✨Know Your Stuff
Make sure you brush up on your knowledge of retail lending and the financial services regulatory framework. Familiarise yourself with the key issues affecting consumers, especially in vulnerable circumstances. This will help you demonstrate your expertise and show that you're genuinely interested in the role.
✨Showcase Your Analytical Skills
Prepare to discuss how you've assessed and analysed information in previous roles. Think of specific examples where you've identified risks or proposed solutions. Being able to articulate your thought process will impress the interviewers and highlight your problem-solving abilities.
✨Communicate Effectively
Practice your communication skills by explaining complex concepts in simple terms. You might be asked to present your ideas to a diverse audience, so being clear and concise is key. Consider doing mock interviews with friends or family to refine your delivery.
✨Demonstrate Accountability
Be ready to share instances where you've taken initiative to solve problems or improve processes. Highlight your sense of accountability and how it has led to positive outcomes in your previous roles. This will show that you’re proactive and committed to delivering good consumer outcomes.
