The Financial Services Authority EmployAbility Specialist Graduate Development Programme 2012

FSA EmployAbility Specialist Graduate Development Programme 2012

Start Date	September 2012
Location	London
Who	Final year students and graduates of any degree discipline
Application Deadline	6 December 2011

About the FSA

The importance of regulation has never been greater. Financial issues are front-page news and, in light of one of the biggest financial crises in history, the Financial Services Authority (FSA) has had to develop a far-reaching strategy that will change the way we work and the shape of the industry as a whole.

The FSA is the UK’s sole financial services regulator, in 2013 will divide into two new bodies. The regulatory framework will change, but the new organisations will continue to rigorously supervise all 27,000+ regulated firms and cover the four key areas of the FSA remit: to maintain market confidence; to ensure consumers are protected; to contribute to the protection and enhancement of the UK financial system; and to target and reduce financial crime.

This is an exciting time to be involved, as they implement the new regulatory regime and transition into a new era. The graduates who join the FSA at this crucial time will have a key part to play in these changes and the opportunity to develop their careers by shaping these exciting new organisations. It’s a tough job but it’s also fascinating – a constantly evolving arena in which to build a rewarding future.

Specialist programmes

Outside of the Graduate Development Programme, the FSA offer several specialist programmes:

Risk Specialist Development Programme
IT Graduate Development Programme
Economics Development Programme
Management Accountancy Programme

These allow you to apply your specialist interests and aptitudes across the organisation.

Risk Specialist Development Programme

On this programme you will develop a thorough understanding of risk management tools, techniques and what is considered to be best practice. The FSA will give you hands-on experience with rotations across their risk specialist teams, secondment to an investment or major retail bank, plus sponsor you to study towards your Professional Risk Managers or Financial Risk Managers examinations.

The Risk Specialist Division (RSD) works in partnership with supervision and policy, providing holistic risk assessment and in-depth reviews across risk types, assets, liabilities and off balance-sheet to help ensure effective regulation of financial services firms. The division is comprised of risk professionals, most of whom have extensive industry experience.

Suitable candidates will have strong academic credentials. This will be evidenced by a post-graduate qualification in a quantitative discipline. In exceptional circumstances, candidates with undergraduate degrees will be considered. In addition, candidates should be able to demonstrate strong interest in/knowledge of Financial Markets.

Rotations

Over the course of the three year programme, you will be given the opportunity to work in 3 or 4 of their specialist Risk Management teams, including Credit, Operational, Market & Liquidity, Counterparty, Architecture, Infrastructure & Capital and Insurance.

You can expect to be involved in a wide range of separate projects, covering model reviews, stress testing, and an assessment of firm’s risk management policies and procedures. There may also be the opportunity to work on industry wide thematic work.

Secondment

To further enhance your knowledge of risk management policies and procedures, you will be seconded to the Risk Management Division of an Investment Bank/Major Retail Bank, for 6 months.

IT Development Programme

Contribute to the future landscape of financial regulation on the IT Graduate Development Programme. The FSA is at the heart of pioneering initiatives that aim to enhance global financial stability and provide a more secure and ethical means of carrying out financial regulation – and you could be a part of it.

The FSA need first-rate IT support to reach their objectives of facilitating and championing fair and orderly markets, and targeting and reducing financial crime, so are looking for exceptional graduates to join their IT Graduate Development Programme.

Rotations

The IT Development programme will give you the opportunity to work in a dynamic, challenging environment and gain exposure to the latest tools and methods used in the IT industry. On this programme you will develop your stakeholder-management and communication skills on rotations in Service Management, Project Management, Business Analysis or Vendor Management. However, as the FSA rely on third-party companies for many of the technical aspects of system development, it is unlikely that the graduate position will involve coding or designing some of the more technical aspects of a system.

Secondment

To further enhance your skills and experience, you will have the opportunity to undertake a 6 month secondment in your third year either internally to another Operations function, or to a service partner externally.

Economics Development Programme

With rotations within the FSA's Macro Prudential Analysis, Statistical Analysis and Business Intelligence Team (SABIT) or Sector, Thematic and Aggregated Risk (STAR) team, this programme is designed for those who want to specialise in applied economic analysis.

As well as sponsoring you to undertake a part-time MA in Economics, you will also have the option to be seconded to an external organisation for six months. The secondment is designed to broaden your commercial experience and could be to organisations such as the Office of Fair Trading, Competition Commission, HM Treasury or an economic consultancy. While economics graduates work throughout the FSA, this programme is designed for those who want to specialise in applied economic analysis. The Economics Development Programme is based in the Risk and Financial Stability Division of the FSA which contains three specialist teams of economists.

Rotations

The Macro Prudential Analysis team takes a system-wide perspective to identify financial stability risks. The team works with key stakeholders, both within the FSA and outside, to understand the potential impact of specific macroeconomic risks. The Statistical Analysis and Business Intelligence Team (SABIT) helps the organisation make the best use of the data submitted to the FSA for Supervision and Risk Analysis. This includes analysing data from firms to identify risk (e.g. through peer and outlier analysis), producing statistical analysis for internal consumption and external publication as well as providing training, advice and guidance to users on FSA data.

The Sector, Thematic and Aggregated Risk team (STAR) is responsible for providing an integrated and dynamic view of the risk landscape and is a key part in delivering the division’s commitment to improving risk management. This involves aggregating risks across the range of FSA’s activities – firm, sector, economic, market, environmental and operational – and interpreting the collective results. It also includes working with the divisions across the FSA, to ensure that risk is managed (that is, indentified, monitored and controlled) appropriately at the various levels.

The three-year programme involves two rotations and an optional six-month secondment. The first year will involve a 12-month rotation in Macro Prudential, SABIT or STAR. The second year will include a six or twelve-month rotation between the teams or to another relevant part of the FSA.

Secondment

During the course of the programme, you will rotate between both departments and have the option to be seconded to an external organisation for six months. The secondment is designed to broaden your commercial experience and could be to organisations such as the Office of Fair Trading, the Competition Commission, HM Treasury or an economic consultancy.

Management Accountancy Programme

The Finance division at the FSA supports staff in all Business Units with their financial and operational decision-making. This three-year programme will expose you to a broad range of finance and accounting work as you work towards your Chartered Institute of Management Accountants (CIMA) qualification. So, by the end of the programme, you’ll have a wealth of experience behind you and a bright future ahead.

Rotations

You’ll spend time in their central Finance department and Revenue area before moving on to a series of rotations. You can expect to be involved in a range of work from planning and reporting, month-end accounting, budgeting and forecasting, financial controls and procurement, as well as the management of related projects.

Secondment

In the final year of the programme your in-house training will be supplemented by an external secondment to an organisation of your choice, possibly to an investment bank, an insurance firm or a major retail company.

What the FSA look for

You will need to have gained, or be expecting, a 2.1 or above in any subject. You will be analytical and results-driven, combining a genuine interest in the work of the FSA with the desire to make a positive difference to financial-services firms and consumers. However, if there are extenuating circumstances which may have affected your grades, please state this clearly in your application and/ or contact EmployAbility for further information.

As well as having a strong commercial awareness, the ideal candidate will be a proactive team player with the confidence and people skills to build effective working relationships and make a real impact on those around you. Above all, you will have the drive and ambition to make the most of these attributes in an environment where you'll have your wits tested, but not your hand held.

Rewards & benefits

The graduate starting salary is £29,000, with a £2,500 joining bonus and further performance-related awards. 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. But it's the choice on offer that will really whet your appetite.

Their flexible benefits allowance lets you opt for extra holiday, dental cover, childcare vouchers or travel insurance, or top up your pension contributions. And because they want you to enjoy your time in the office, they've paid just as much care and attention to creating an appealing work environment.

The FSA is an organisation that’s always focused on achieving the right outcomes and getting the job done. It’s hard work. And with their incredibly responsible and high-profile roles, they expect a lot from their people – namely professionalism, self-sufficiency and effort. In return, they’ll support you throughout your working life, with ongoing training and development opportunities to match the changing nature of the industry, as well as mentoring by experts.

Outside of work they've fostered a strong social network with a variety of sports teams as well as an on-site gym and a staff restaurant – all of which will make your life at the FSA even more enjoyable. Their graduate network is extensive and there to provide you not only with social interaction, but also support. What's more, their active Community Affairs programme gives all employees the chance to get involved in valuable voluntary work, such as helping out in schools or on environmental projects, making them as socially responsible as they are sociable.

How to apply

Please register or login to your profile, and complete the application online.

Apply as soon as possible - we review applications as soon as they are received and positions will get filled quickly.

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

This programme is now closed for applications.