Competition Economics Lead

The Financial Conduct Authority is a key part of the regulatory structure in financial services, together with the Prudential Regulation Authority and the Bank of England. We work to make financial markets work well for consumers of financial services.

This role is in the Competition Division (CD). CD leads the FCA's competition mandate and much of our work is focused on ensuring markets are working well for consumers.

Within CD sits the Competition Economics team. Our aim is to apply our unique mix of expertise in competition, economics, and quantitative analytical frameworks, working together to:

• Describe and diagnose poor outcomes or harm, and how these could stem from ineffective competition


• Identify where competition issues might exist currently or in future, and which to prioritise


• Build robust evidence on those issues and advise on the best way to remedy or mitigate issues by taking proportionate action where appropriate


As a Lead Associate economist, you will lead on and carry out the competition and economic analysis to support our projects in a variety of financial services markets. You will be a key member of the team, demonstrating leadership, supporting the team managers in developing team strategy and leading on relationships with stakeholders. This role may also involve formally line managing up to two other team members.

What you will be doing

You will work with and support colleagues to scrutinise markets and firm behaviour. Your work will include:

• Scoping problems that require investigation, including market failures that may be causing poor outcomes for consumers


• Supporting the manager in overseeing the activity of team. This might include allocating tasks, supporting and developing more junior colleagues, and planning project delivery


• Supporting, line and / or work-managing colleagues


• Driving the delivery of high quality findings, including quantitative economic data, which will be used to make evidence-based decisions and recommendations


• Influencing and developing the team and department's strategy, helping to define priority outcomes and measures of success, using your judgement to advance the FCA's goals, and presenting on behalf of the team


What will you get from the role?

As part of the team, you will get to investigate whether and why financial services markets might not be working well for consumers. You will also help propose economically sound remedies for how financial services markets could be improved.

The work will allow you to apply your economic skills to real problems in financial service markets. You will be asked to scope hypotheses and produce high quality economic analysis to test your hypotheses.

As a key and supportive member of the team, you will contribute to setting priorities, planning and driving the delivery of / contribution to complex and high-profile projects.

Ultimately you will get to make a difference - your problem solving and the crucial role you will play in competition economic analyses will help consumers get access to better financial services markets., Our ambition is to cultivate a culture of inclusion 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.

The FCA is committed to achieving greater diversity across all levels of the organisations. Given this, we particularly welcome applications from women, disabled and minority ethnic candidates for our lead associate role.

Flexible working

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 won't judge you for asking.


• Previous experience of working as an economist at a regulator, government department, consultancy, industry or academia


• An academic background in economics, including a qualification in Economics at undergraduate or above


• Experience of working with data sets, and performing statistical reviews using software packages such as, R, Stata, Python


Essential

• Experience of driving forward, scoping and delivering relevant economic work, making judgements and presenting key issues and recommendations to senior stakeholders


• Strong management capability (e.g., project management) to help plan, prioritise and allocate work within the team


• Ability to review complex information on markets and firm behaviour to form judgments


• Previous experience with or exposure to competition economics


• Ability to work collaboratively and effectively as part of a multi-disciplinary team


• An interest in working with economic data sets to produce accurate and thorough findings


• Excellent drafting and oral communication skills


• Experience with and understanding of the economics that underpins competition policy - candidates will be tested on this at interview
  
  The FCA regulates the conduct of 50,000 firms in the UK to ensure our financial markets are honest, fair and competitive. We do this to make sure markets work well for individuals, businesses and the economy as a whole. For more information on what we do, our three-year strategy can be found here.
  
  £57.600 to £79,100


Salary: National ranging from £57.600 to £71,900 and London £63,300 to £79,100 per annum - Salary offered will be based on skills and experience

Are you interested in joining a team that will help shape and deliver the future of Competition Regulation at the FCA?, Our competitive flexible benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can use this allowance to purchase additional benefits such as dental or cycle to work or you have the option top up your base salary by taking this as cash. Core benefits that you will receive as standard are:

• 25 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