Head of Innovation

About Us

The Financial Conduct Authority (FCA) is the UK’s financial regulatory body responsible for ensuring markets work well for consumers, businesses, and the economy. We aim to create a fair, transparent, and innovative financial services sector. Financial services play a critical role in the lives of everyone in the UK, so our strategic objective is to make sure relevant markets function well, you can find out how we’ll achieve this in our 3-year strategy.

Innovation is a department that is part of the Intelligence and Digital division which itself is a function within Data, Technology and Innovation, where it’s essential that teams work collaboratively to deliver value-add technology solutions. Our Innovation Department promotes effective competition and growth in Financial Services, informs the broader FCA strategy, and through our suite of Innovation services we intervene to support beneficial and responsible innovation. The department scans the FinTech and RegTech market and evolution of tech and helps the FCA consider how this may impact the firms it regulates and whether future policies may be needed in this space including areas of emerging technology such as blockchain, AI, and tokenisation. This, in turn, supports the FCA's further development as an innovative and digital regulator.

The Role

We are seeking a Head of Innovation to join the FCA’s senior leadership team and lead the FCA’s efforts in advancing FinTech innovation, fostering competition, and ensuring consumer protection in the UK financial services sector. As Head of Innovation, reporting into the Director of Intelligence and Digital, you will take full strategic responsibility for the Innovation Department, setting the direction for the team and embedding innovation-focused processes and services that promote beneficial and responsible innovation in Financial Services.

You’ll use your excellent communication and engagement skills to build and maintain relationships with stakeholders from across the financial services and regulatory sectors, and also chair the Global Financial Innovation Network with over 80 regulators as members. You’ll use these relationships to help the FCA understand current and future developments in FinTech, and in turn understand how these will impact the sector and whether future policy changes are needed.

This is an incredibly unique and exciting role, offering an unrivalled opportunity to impact and shape the future of financial regulation in the UK and internationally. Our Innovation Department is genuinely world-leading, with many of our products and services adopted by regulators across the world. The next Head of Innovation will build on this legacy, keep the FCA at the forefront of regulatory innovation, and play a lead role in our pro-growth and innovation ambitions.

Key Responsibilities

• Develop and implement strategies that promote a pro-innovation mindset within the FCA.
• Provide inspirational leadership, promoting sound judgment aligned with the FCA’s objectives.
• Lead the recruitment, development, and management of a high-performing team, ensuring alignment to the FCA capability framework.
• Quality assure departmental work, offering feedback and coaching for continuous improvement.
• Oversee the effective, economic, and efficient operation of Innovation Department.
• Set the strategic direction for the Innovation Department, embedding innovation-focused processes and services that promote beneficial and responsible innovation in Financial Services.
• Influence and contribute to the wider FCA organisation’s understanding of innovation trends, risks, and opportunities.
• Represent the Innovation Department and the FCA in key decision-making committees and forums, both nationally and internationally.
• Listen to and influence key public and private sector stakeholders on financial innovation matters.
• Collaborate with the Innovation Senior Leadership Team and the Director of Innovation.
• Build and maintain credible relationships across the FCA and with external stakeholders.
  
  

What You Will Gain

Join the FCA’s senior leadership team during an exciting period of regulatory change.

Lead a department of talented and committed individuals, working on significant projects and programs.

Gain exposure to a wide range of issues and contribute to shaping the FCA’s strategy.

Required Skills & Experience

We are 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.

Minimum

• Extensive experience in regulation, whether as a regulator, consultant, or entrepreneur.
• Advanced understanding of UK and international FinTech ecosystems and financial markets.
• Strong public speaking skills and ability to engage and enthuse diverse audiences on technical matters, representing the organization credibly in high-profile settings.
• Proven experience in a leadership role with significant internal and external visibility. Strong diplomatic, negotiation, and influencing skills.
• Experience managing risks, headcount, budget, and people/finance processes. Experience addressing wellbeing, diversity, equity, and inclusion.
• Significant experience in policy design, stakeholder engagement, and strategy implementation.
• Ability to adapt to and drive change, manage competing priorities, and deliver through periods of transformation.
• Understanding of the political and policy context in which the FCA operates.
• Strong problem-solving abilities with a balance of creative challenge and pragmatism.
  
  

Essential

• Direct experience in open finance, cryptoassets, AI, Synthetic Data, tokenisation and Distributed Ledger Technology and digital transformation.
• Proven experience of managing and influencing challenging and complex stakeholder relationships, building and leading multi-disciplinary teams.
• Collaborative leadership skills to engage people in the FCA’s Transformation programme, whilst supporting and engaging teams working remotely.
  
  

Desirable

• Conflict Resolution: Ability to handle conflict and contentious issues diplomatically and empathetically, while effectively negotiating to achieve desirable outcomes.
• Ability to adapt style to build strong relationships with senior leaders, collaborate across the organisation and use various techniques to facilitate change
• Self-motivated, thorough, diligent and quality orientated.
• Good chairing skills, an ability to speak to a range of audiences, an ability to listen, and personal authority in dealings with colleagues
• Understands and able to drive results through others
  
  

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. We serve the public and our decisions directly affect the wellbeing of people, businesses and the UK economy. So, our values matter. They represent the culture we aspire to every day, guiding our judgements, building trust and helping us to be ‘At our best’.

We particularly welcome applications from women, disabled, and minority ethnic candidates, as under-represented groups.

As an inclusive employer, we are open to considering flexible working arrangements, including job shares. Please inform your recruiter if you wish to apply for this role on a flexible basis.

Useful information

• The closing date for this role is 23.55 on 5 August 2024
• This role can be based in any of our office locations- London, Leeds, or Edinburgh
• Salary range between £130K - £160K benefits and up to 12% non-contributory pension.
• If successful, you will be required to obtain and retain SC Clearance.
• We operate a hybrid working policy with an expectation all colleagues are in the office a minimum of 40% of their time. We expect senior leaders to spend a minimum of 50% of their working time each month in the office.
  
  

The recruitment process is being managed by Global Resourcing on behalf of the FCA.

Global Resourcing recruitment for The Prince's Trust - Head of Innovation (global-resourcing.com)

For further information or to apply please email FCA-HoI@global-resourcing.com Alternatively contact Dave Flynn or Adam Davidson on 020 8253 1806 to arrange an informal conversation.

Conflicts of interest

All applicants to the FCA are required to demonstrate that they do not have other interests likely to conflict with their responsibilities as an employee of the FCA. You should declare any potential conflict of interest as early as possible in the selection process, and also disclose information or personal connections that, if appointed, might be open to misperception.

Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) should they be successful in their application.