Experienced graduates: Why work at the regulator?

Continuing with our series on experienced graduates working within the financial services, David-James Marker looks at the benefits of working for a public body such as the FCA or PRA.

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We recently discussed the benefits of working at professional service firms, and also the reasons for working in industry based roles. However, it would be impossible to ignore the case for working at the regulators.

So much of the work that is performed by consultants and industry professionals alike has a level of interaction with the regulator, and for many, is the sole focus of their employment.

 

What can an experienced graduate get from working for a public body such as the FCA or the PRA?

At the heart of the issue

One of the main benefits, undoubtedly, is getting the regulator on your CV. Working for a body that has so much influence over the financial services industry will put you at the heart of an ever changing landscape and industry.

Consultants and industry professionals often work in a reactive capacity in regards to directives from the FCA, with horizon scanning providing a useful but not always accurate forecast and recommendation.

When working for the FCA/PRA, you will be involved in some level of the decision making or directive issuing process, giving you insider foresight and also the capacity to look at how directives will affect the industry as a whole.

Network, network, network

The FCA works in a strong liaison capacity with many FS providers; with all registered firms having consistent interaction with the regulators. Many of those who work at the FCA/PRA have interaction with financial service firms, acting in a supervisory or liaison capacity.

Not only does this level of interaction also show you first hand how the FCA impacts a business, it also gives you the opportunity to meet industry professionals and expand your knowledge and professional base.

International standards

London is undoubtedly a leading, global financial centre and as such has plenty of interaction with the international finance community. With a rise in global trading, and as a reflection of the recent global recession, international stringency has increased in relation to regulatory standards.

The FCA and PRA deal extensively with other foreign bodies such as CESR. Liaison between various firms ensures competitiveness and commerciality of regulations that will have a global impact, and also influence global credit agencies in assessing market confidence and financial stability of individual nations.

Money, money, money

For a public body, the regulators are renowned for paying competitively. They look to seek out articulate and methodical individuals who can process complex directives and policies and communicate this out to the wider financial services community. As a result of this, they pay competitively.

The nature of the regulator also has longevity and can therefore also be reflected in their long term career progression from associate level up to director.

If you’re interested in a career within financial services, get in touch to see how Grovelands can help.

– David-James Marker

This page was last updated on 5th September 2018

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