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Cryptoassets – Senior Associates Authorisations

Cryptoassets – Senior Associates Authorisations The Role (multiple vacancies) We are looking for talented, motivated and outcome-focused individuals in Edinburgh and London with varied experience an

Cryptoassets – Senior Associates Authorisations
The Role (multiple vacancies)
We are looking for talented, motivated and outcome-focused individuals in Edinburgh and London with varied experience and backgrounds to join our diverse and inclusive Cryptoassets team, which forms part of the Banking, Payments and Insurance Department.
The Cryptoassets team is responsible for assessing cryptoasset firms’ compliance with the Money Laundering Regulations (MLRs). The team’s assessments of firms primarily focus on the adequacy of firms’ financial crime systems and controls. These assessments include reviews of complex business models, consideration of cryptoasset activities being planned, and testing the knowledge, experience and fitness and propriety of individuals undertaking key functions. The team is also responsible for identifying, managing and mitigating risks of potential harm arising in firms and identifying where firms are at risk of being used as a conduit for illegal activity.
What does the role involve? What are the key responsibilities?
  • Progressing and assessing applications for registration with different levels of complexity to make confident, consistent and timely regulatory decisions and judgements, based upon accurate consideration of all relevant factors, and in adherence to agreed service levels.
  • Effectively managing internal and external stakeholder relationships to ensure timely and appropriate decisions are made.
  • Escalating risks, issues and other points of note (e.g. trends) in a timely manner.
  • Promoting a culture of continuous improvement and efficiency gains.
  • Looking for opportunities to share knowledge and actively coach/train fellow team members.
  • Leading strategies to deal with complex or novel firm issues, recommending the most appropriate course of action.
  • Providing critical thinking relating to your sector and helping to build the skills and knowledge of your colleagues.
  • Leading meetings with firms, educating them on their regulatory responsibilities and delivering difficult messages constructively and effectively.
  • Proactively building excellent networks and relationships to facilitate understanding of risks and issues in the sectors and sharing knowledge to achieve good regulatory outcomes.
  • Coaching, mentoring and supporting colleagues in technical knowledge and interactions with firms/other stakeholders.
  • Using project/case management discipline to ensure delivery of assessment strategies to time and quality expectations.
  • Role modelling the FCA’s Values and Core Capabilities.
What will the candidate get from the role?
  • Developing a more in-depth knowledge of the cryptoasset sector and the opportunity to assess a wide variety of business models including cutting edge fin-tech propositions and firms operating in the cryptoasset market.
  • Interacting with senior level individuals at firms and key industry stakeholders as the key FCA representative.
  • Building a wide network of contacts across the organisation and representing the department/division in discussions with FCA senior management.
  • Demonstrating clear and logical thinking through oral and written work.
  • The opportunity to contribute towards the future shape of MLR regulation in the cryptoasset space.
Skills/Experience Required
Minimum
We’re a signatory to the Government’s Disability Confident scheme. This means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.
  • Experience of taking a project-based approach to complex problems.
  • A detailed understanding, gained through regulatory or industry experience, of regulatory requirements and how they apply specifically to firms
Essential
  • Knowledge of the UK regulatory framework
  • Experience of assessing firms’ control environments, personnel and compliance with key regulatory requirements
  • Leading challenging engagements with stakeholders
  • Experience of formulating case strategies
  • Experience of assessing risks arising in complex business models
  • Ability to investigate and then analyse complex information, reaching well-informed judgements and identifying and presenting relevant issues and recommendations in a timely manner
  • Strong report writing, communication and reviewing skills, with an ability to describe complex issues concisely
  • Excellent relationship and stakeholder management skills to enable credible engagement and challenge senior internal and external stakeholders
  • Ability to work with pace and under pressure, use sound judgement and escalate issues appropriately
  • Ability to balance and manage competing priorities, working independently and in a team, and manage several work streams simultaneously
  • A sound understanding of good governance and risk management practices and frameworks
  • Comfortable with responsibility and managing ambiguity
  • Quick learner/keen learner – to acquire MLRs and cryptoasset knowledge
Desirable
  • Knowledge of MLRs, financial crime investigations, policy or compliance, money laundering typologies or ML risks
  • Experience of assessing the robustness of financial crime control frameworks gained from time spent working in a financial crime function/investigations, financial regulator or consultancy
  • Knowledge of cryptoasset business models and the blockchain
  • Understanding of the business models and typical risks facing cryptoasset firms
  • Experience of legal proceedings, for example, refusal cases, including for complex cases/firms
  • Experience of delivering interventions in complex reactive cases (including OiREQs, referrals, fines, injunctions)
  • Experience of applying new rules, guidance or policy in Supervision or Authorisations cases, particularly when precedents are being set
  • Knowledge of payments / e-money business models (PSRs, EMRs etc also helpful)
  • Knowledge of wholesale business models including Multilateral Trading Facilities
  • Experience of assessing interactions between regulated and unregulated activities
  • Experience of other FSMA areas, particularly the interaction between regulated and unregulated activities
About the FCA
At the FCA, we’re creating a fair and more resilient financial system. We’re establishing more transparent relationships between financial services and their customers, building trust in financial markets and protecting vulnerable consumers.
The FCA’s Values & Diversity
Our ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator.

As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

The FCA’s Values & Diversity
Our ambition is to create a diverse and inclusive workplace that reflects the society we serve, helping us to be a better regulator.

As an inclusive employer, we are open to considering flexible working arrangements. Please contact our recruiter if you wish to apply for this role on a flexible basis.

Useful Information
  • This role is graded Senior Associate – Regulatory
  • The FCA has a national role and is committed to a national footprint. This role can be based in London or Edinburgh.
  • The FCA has London and National Pay ranges to reflect regional differences. The salary for this role will be:
    • London – The salary will be £50,000 – £60,000 plus a competitive

      benefits package

      and non-contributory pension.

    • National – The salary will be £47,000 – £57,000 plus a competitive

      benefits package

      and non-contributory pension.

  • Applications for this role close on Wednesday 29th of June
  • CV’s will be reviewed 30th June onwards.
Please note, applications must be submitted through our online portal. Applications sent via email will not be accepted.
Additional Information
The FCA is currently trialling a new hybrid way of working, requiring colleagues to spend 40% of their time in the office each month until the end of July. This trial period will allow us to identify the most appropriate balance of hybrid working, enabling us to benefit from the best of both working in an office environment and remotely.
The Financial Conduct Authority (FCA) has recently set out a

new employment offer

designed to reward strong, consistent performance, aid career development and close pay gaps.

This follows an extensive, wide-ranging and comprehensive consultation with all FCA colleagues and the FCA’s Staff Consultative Committee. The changes, including updates to the proposals consulted upon, will mean that the FCA continues to provide one of the best reward packages of any regulator or enforcement agency in the UK.
If you have any questions about this role please reach out to Chhavi on chhavi.bartaria@fca.org.uk
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