Senior Lawyer – Credit team in London

Senior Lawyer – Credit team

Division - Legal Division

Department - Payments, Credit, Competition and Claims Management

Salary - National (Edinburgh and Leeds) ranging from £68,900 to £86,000 and London £75,700 to £95,500 per annum

About the FCA

The FCA regulates the conduct of 45,000 firms in the UK to ensure our financial markets are honest, fair and competitive. Follow this link to find out more About the FCA .

This vacancy is based in Credit Team 2, part of our collaborative Credit Hub. As our work continues to evolve, candidates from this recruitment round may also be considered for future opportunities across the wider Department.

Credit Team 2 sits within the Payments, Credit, Competition and Claims Management Department in the Regulatory and Corporate Legal Directorate of the FCA. Credit Team 1 and Credit Team 2 collectively form a Credit “hub” and share responsibility for the provision of advice on the regulation of consumer credit, mortgages and claims management. This covers advice on lending and credit broking (including high-cost lending and credit cards), mortgage lending, arranging and intermediation, debt-related activities (including debt collecting and debt advice) and credit information services (including the operation of credit reference agencies).

The credit hub’s work is closely aligned with the FCA’s commitment to supporting the government’s growth agenda and several of the hub’s projects feature in the CEO’s recent letter to the Prime Minister.

Current projects include:

• Proposals to simplify the responsible lending and advice rules for mortgages that have been in place since the 2008 financial crisis

• Drafting new rules and guidance in the credit handbook for Deferred Payment Credit (also known as unregulated Buy Now Pay Later lending) shortly to become regulated

• Working closely with HM Treasury on wider reform of the Consumer Credit Act 1974

• Improving credit information with changes to industry governance and introducing new rules and guidance following the Credit Information Market Study

• Advising on high profile motor finance commissions work, investigating harm that may have been caused by the use of commission arrangements in the motor finance sector. The programme comprises of different workstreams which include advising on senior court litigation and redress.

The Credit hub is part of the Payments, Consumer Credit, Claims Management and Competition Department in the Legal Division. There are 33 lawyers in the Department.

What will you be doing?

You will be providing legal advice on a variety of matters across the FCA’s portfolio of credit, mortgages, debt and claims management work, in particular:

• Advising policy on the regulatory regimes and providing legal support in respect of policy project, including drafting rules and guidance

• Advising on the regulatory perimeter, for example in respect of authorisation and regulatory sandbox cases

• Providing legal support in respect of the supervision of retail firms, including consumer credit and mortgage lenders, credit brokers, mortgage intermediaries, appointed representatives, and CMCs

• Developing knowhow resources and delivering training

What will you get from the role?

• You will work at the forefront of financial regulation and consumer protection on a range of matters including those that involve difficult, complex and often high-profile legal issues

• Be fully involved in the FCA’s policy development, and draft rules and guidance in the FCA Handbook

• Interact with colleagues across the FCA and with government departments and bodies and other organisations engaged in financial services such as the Bank of England and HM Treasury on significant legislative changes

• Develop problem-solving and project management skills

• Have a high level of ownership and responsibility for your actions

• Work in a diverse, inclusive and supportive environment

Which skills are required?

We are a Disability Confident Employer; therefore, disabled people or individuals with long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. (To learn more about the Disability Confident Scheme Click Here )

Minimum

• Applicants must be a qualified Lawyer with a minimum of 5 years PQE (in house, public sector or private practice) or equivalent experience

• Proven experience in a role that has required strong technical legal skills, with proven ability to manage a varied workload

Essential

• Strong analytical skills and the ability to deliver good and clear analysis of issues

• Ability to learn about new or novel legal issues quickly and with enthusiasm, with the necessary oversight and support of colleagues

• Ability to create solutions and deliver pragmatic outcome-focused judgments

• Ability to advise in a confident and reasoned manner and to challenge appropriately

• Ability to build and sustain positive relationships and good communication skills

At Lead Associate level, some further relevant experience for the team role applied for will include experience in one or more of the following:

• Financial Services law

• Litigation, in particular public law litigation

• Public law

• Working within a legal function in a financial services context such as banking, funds, markets, insurance or advising listed companies

• Working within a legal function in a government department or other regulatory or public body

Our Values & Diversity

We are proud to be an inclusive employer, and our ambition is to cultivate a culture for all employees that respects their individual strengths, views, and experiences. 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.

Within the workplace you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions.

Benefits of working at the FCA

• 25 days holiday per year plus bank holidays

• Hybrid working (work from home up to 60% of your time)

• 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

We also have a competitive flexible benefits scheme which gives you the opportunity to create a personalised benefits package, tailored to suit your lifestyle.

We welcome applications from candidates who are looking for flexible arrangements. Many of our staff work flexibly including working part-time, staggered hours, and job shares. We can’t promise to give you exactly what you want but we can explore what might work best for both sides.

Follow this link to see what life is like at the FCA - Life at the FCA

Application Support

We are dedicated to removing barriers and ensuring our application process is accessible to everyone. We offer a range of adjustments to make your application experience as comfortable and straightforward as possible.

If you have an accessibility need, disability, or condition requiring changes to the recruitment process, please contact your recruiter using the details below and they will be happy to discuss this further with you.

Useful Information and Timeline

• This role is graded as Lead Associate – Practicing Legal

• Advert Closing Date: 14th August

• CV Review/Shortlist: 15th-18th August

• Interviews: w/c 18th and w/c 25th August

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.

Got a question

If you are interested in learning more about the role, please contact Raimonda at

Applications must be submitted through our online portal. Applications sent via email will not be accepted.