Financial Services Authority EmployAbility Graduate Development Programme 2011

Please note the closing date has been moved forward to the 24th of June 2011

About the Financial Services Authority

As the UK’s main financial services regulator, the Financial Services Authority (FSA) tackles regulation from both a prudential and consumer angle – what better starting point for a career in financial services?

Their remit covers five key areas: to maintain market confidence; to raise public awareness of the financial system; to ensure consumers are protected; to contribute to the protection and enhancement of the UK financial system and to target and reduce financial crime.

Working for a world-leading financial regulator means having the remit and the scope to safeguard the interests of consumers, to influence the way financial institutions operate, to facilitate and champion fair and orderly markets and to contribute to the success of the country. A career in regulation will give you an invaluable insight into the complex, diverse and continually evolving financial services sector. There has never been a more exciting time to join the FSA – you will be stretched and challenged constantly.

About the Graduate Development Programme

The carefully constructed Graduate Development Programme will give you maximum benefit from the FSA’s broad based expertise. Based at their Canary Wharf office in London, it will give you in-depth exposure to the work within the UK’s financial services industry.

Rotations

After an intensive induction to introduce you to the organisation, the work, their aims and your peers, it’s straight down to business. As part of the programme, you will be allocated to one of the FSA’s business areas. You will also have the opportunity to experience different areas of the business on rotation. Here is an overview of some of the types of work on offer:

1. Supervision

Supervision is a core part of the work and an essential rotation for graduates looking to develop their communication, stakeholder management and analytical skills. Their supervisory work covers both retail and wholesale financial institutions. This includes major financial services groups, investment banks, insurance firms as well as 15,000 small firms. You could expect to develop a full understanding of all aspects of supervision including strategy, risk analysis and assessment – regularly liaising with stakeholders – and possibly also get involved in thematic work.

2. Risk

Generally, Risk roles are either related to FSA Strategic Risk or dealing with Risks that the firms we regulate are exposed to.

Internal risk roles involve providing macroeconomic and top-down market analysis so an FSA ‘house view’ can be established on the economic outlook. Internal Risk also covers policymaking in risk management.

As part of the programme, you will also undertake a six-month placement in a different business unit to give you breadth of experience.

External Risk roles cover areas such as Prudential Risk and Conduct Risk and involve working with the teams in firms responsible for risk frameworks/modelling. These roles also encompass thematic work on industry-wide issues.

3. Policy

Policy is about formulating, delivering and implementing clear policy on conduct and standards that can be easily understood by consumers and firms. Policy teams act as a centre of excellence for risk management, accounting and auditing issues, providing advice and guidance on emerging issues to frontline supervisors and senior management – the work could also involve an international or EU element.

4. Enforcement and Financial Crime

Enforcement departments carry out administrative, civil and criminal proceedings in the enforcement of the Financial Services and Markets Act, FSA rules and other regulatory requirements. This includes investigating people who are carrying on regulated activities without authorisation. The Division also works with other regulatory bodies and law enforcement agencies in the UK and abroad.

The Financial Crime and Intelligence Department helps the FSA to reduce the extent to which it is possible for a business to be used for financial crime. The department enables the organisation to increase the regulatory focus in this area. The department comprises policy, intelligence, sector and operations teams who together deal with any issues involving money laundering, fraud or dishonesty, or market abuse.

5. Market Monitoring and Listings

Market Monitoring identifies and investigates possible market abuse cases. Teams look at market activity and ensure the timely disclosure of information, liaise with listed companies and conduct preliminary enquiries when breaches have occurred. It also sets policies on headline-making market abuse issues such as short selling.

Within Market Listings, Transactions teams ensure listing particulars and circulars sent to shareholders by listed companies comply with the Listing Rules. The Listing Applications team admits, suspends and cancels securities to the Official List.

Secondment

Later on in the programme (usually your third year) you’ll go on an external secondment, giving you the opportunity to view the industry from a different perspective, while building on your knowledge of financial services. Graduates have previously been seconded to investment banks, law firms, fund managers and professional services firms.

The rewards

Flexibility and choice are FSA’s guiding principles when it comes to benefits. So whether you want to pick your own or stick with their standard package, there’ll be a competitive rewards package with your name on it. The starting salary for graduates is £29,000 – plus you also get a £2,500 joining bonus, as well as further performance-related rewards. The basic package also includes 23 days’ holiday, non-contributory money purchase pension scheme, life assurance, private medical insurance, health screening and the ever-handy interest-free season ticket loan.

The flexible benefits allowance lets you to opt for extra holiday (up to a maximum of 35 days), dental cover, childcare vouchers or travel insurance, or you could simply top up your pension contributions.

What’s more, they have created a strong social network, with a variety of sports teams, an on-site gym, and voluntary work, which will add even more to your job satisfaction.

Requirements

In addition to a 2.1 in any subject, 300 UCAS tariff points and the unrestricted right to work in the UK, you’ll need to be a decisive, results-driven, highly analytical team player with excellent people skills and initiative.

However, if there are extenuating circumstances which may have affected your grades, please state this clearly on the form and/ or contact EmployAbility for further information.

How to apply?

To apply for the FSA EmployAbility Graduate Development Programme intake for September 2011 or March 2012 please download and complete an application form and send it to applications@employ-ability.org.uk

Deadline: Friday 24th June 2011.

Please submit your application for the Graduate Development Programme as soon as possible. Places become filled very quickly, so to avoid disappointment ensure you send your application to us as soon as possible.

Don’t wait for the closing date. APPLY NOW!

Please contact Justin Penney on 07776 090 508, info@employ-ability.org.uk should you require the form in an alternative format or have any questions.

Don’t forget to contact EmployAbility should you have any questions or require further information regarding the FSA Graduate Development Programme. We can provide additional information about this programme and can give you useful advice and tips on how to make a successful application.