Lead Associate- AI & Model Risk

Lead Associate- AI & Model Risk

Division - Risk and Compliance Oversight

Salary – National – ranging from £59,100 – £80,000 and London from £64,900 – £90,000 per annum (salary offered will be based on skills and experience)

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.

The Risk and Compliance Oversight Division (R&CO) performs the second line of defence function in the FCA. R&CO helps the FCA identify, assess, and report risks that threaten the FCA's ability to deliver its statutory objectives. The Division is responsible for:

• Defining and owning the FCA Risk Management Framework

• Providing ongoing guidance and oversight of risk management across the FCA Enterprise-wide risk reporting

• Delivery of Regulatory Investigations and Assurance

• Compliance Oversight

• Complaints

We are recruiting for a talented individual to help shape the FCA’s approach on AI & Model Risk. You will play a pivotal part in model risk assessments for some of the most exciting data science projects across the FCA. You will get a wide-ranging view of the modelling landscape across the organisation and help mould the FCA approach whilst also being able to dive deeply into the technical details of some models through leading on Model Reviews.

We are looking for a driven and high calibre colleague to work as part of a small team and  grow both your data and risk management skills.

What will you be doing?

The key responsibilities of the post holder will be:

• Model Risk Strategy: Helping shape the strategy to embed model risk management- the training and communication to model developers and creators and embedding the module across the FCA.

• Model Team Engagements: Providing oversight, advice, and credible support to first line of defence (1LOD) model development and governance. Through working with modelling teams; introducing them to Model Risk Management, risk assessing models, testing risk controls, advising on validation activities, and finalising inventory details

• Model Reviews: Managing assurance activities including model performance reviews, process assurance, technical validation, and thematic reviews

• Model Reporting: Owning the FCA Model Inventory and accompanying activities, including data exploration and board-level reporting

• R&CO Coordination: Collaborating with R&CO colleagues to keep abreast of developments across risk and provide general updates on internal AI & model risk

• Community Engagement: Developing network of contacts across key 1LOD areas (e.g., Advanced Analytics, Data Management, AI governance) and keeping abreast of key developments in the field of AI & Model Risk Management Values: Adhere to the FCA values and ways of working in the delivery of the work

What you will get from the role?

• Playing a leading role on AI & Model Risk, you will benefit from:

• Working and helping manage a varied set of tasks and deliverables, some technical in nature. You will experience interesting and extremely wide-ranging work

• Working on important data science projects, shaping the second line view and input into the executive and the board, and helping drive the organisational approach to model risk management

• Having a pivotal role and numerous opportunities where you’ll be empowered to shape the approach and outcomes of work across the organisation

• Working continuously with colleagues both within R&CO and across the FCA to deliver these projects

• The opportunity to be a pivotal part of a high-performing team, and to develop and enhance your inter-personal, technical and risk management skillset

• The chance to work at the centre of the FCA and gain a unique overview of all the major priorities

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

• Experience of modelling, machine learning or data science projects

• Experience in helping deliver a model risk framework and embedding risk frameworks through training and communication

• Experience in coding (Python, SQL, or R)

Essential

• Knowledge of various modelling and machine learning techniques

• Strong interpersonal skills, with the ability to provide advice and opinions with confidence

• Evidence of strong stakeholder management with professional credibility and gravitas to be able to deal with a broad spectrum of stakeholders

• Team player who is able to build rapport and work well with others to achieve goals

• Strong organisational ability, including capability to manage a variety of competing tasks and issues, prioritising appropriately

• Proven ability to understand situations and use problem-solving to make informed recommendations and judgements

• A flexible approach to ways of working and the ability to work in a changing environment including delivering at pace to tight deadlines

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.

Did you know? 50% of our Executive Committee were the first in their family to attend university.

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

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, Regulatory

• Advert Closing Date: Thursday 3rd April (midnight)

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 careers@fca.org.uk.

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