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 steve.christopher@fca.org.uk.
• Your internal recruitment contact is Iona Magee via iona.magee@fca.org.uk.
• 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 Minimum Skills required
• 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 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. 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