Head of Capital Markets Department

About the FCA 

At the FCA, we’re creating a fair and more resilient financialsystem. We’re establishing more transparent relationships between financial services and customers, building trust in financial markets and protecting vulnerable consumers.  

We’re currently on an exciting journey as we drive forward significant organisational, people, process, and technology transformation to become a more forward-thinking, proactive regulator. We will use data more effectively to drive better regulatory decisions and build greater cohesion across our broad financial services remit.   

Significant improvements in digital enablement, business intelligence, market data and information management maturity are all being pursued to maintain our position as a world leader in financial services regulation.  

In March 2025, the FCA launched a new 5-year strategy to deepen trust, rebalance risk, support growth and improve lives. The FCA will focus on four priorities:  

• Be a smarter regulator; predictable, purposeful and proportionate. The FCA will improve its processes and embrace technology to become more efficient and effective.  

• Support sustained economic growth, by enabling investment, innovation and ensuring the continued competitiveness of the UK’s world-leading financial services.  

• Help consumers navigate their financial lives by working with industry to boost trust, product innovation and ensuring the right information and support is available for people to take financial decisions.  

• Fight financial crime, focusing on those who seek to use the fact they are regulated to do harm. It will go further to disrupt criminals and support firms to be an effective line of defence. 

The Role  

An exciting opportunity has arisen to take on the role of Head of Department for Capital Markets in SPC

The Capital Markets Department plays a pivotal role at the heart of the UK’s wholesale financial markets. The department ispart of the Infrastructure & ExchangesDirectoratewithinthe wholesale markets area ofSupervision,Policy and Competition(SPC).In broad terms our role is to set rules that govern how financial marketsoperateand alsoto supervise firms that are active in those markets. Specifically, the Capital Markets departmentis responsible forsupervision of benchmark administrators and credit rating agencies; andpolicy in respect of primary markets, post-tradearrangements, market abuse, short selling, wholesale crypto,benchmarksand credit ratings 

The Departmentisplayinga central roleindelivering the FCA’s strategic priorities, particularlytosupport economic growth and be asmarter regulatorThe UK occupies a pivotal position in globalfinancialmarkets, being the second biggest global financial hub and first in the world for international debt issuance and foreign exchange trading. As part of our work to strengthen UK markets, we have been delivering an exciting programme of capital markets reforms, including the biggest listing rule changes for decades, major shifts in prospectus rules and a new public offer regime. This high-priority work to enhance UK capital markets will continue into the FCA’s new Strategy, as it plays a key role in supporting innovation and growth.

Theopportunity has arisen to work as the Head of Capital MarketsCritical aspects of thisimportant rolearetoassess how tocontinuebuildingUKcapital markets’capability;find the right balance between risk and growth;andhow togrow digital capabilities. This will require UK capital marketexpertiseand strong leadership skills as we build out our teams and capabilities.

The Head of Department will also work collaboratively across the FCAandengage closely with otherregulatoryagenciesand with a broad range ofstakeholders across industry

This is a unique opportunity to feed directly into the FCA’s strategic priority to strengthen

UK wholesale markets and support innovation and economic growth at a critical time.

What will the candidate get from the role? 

• Joining the Senior Leadership Team at the FCA during an exciting and challenging time ofgreat changein financial services and its regulation 

• Leading adepartmentof talented and committed people through significant projects whilst also delivering on business-as-usualobjectives 

• Exposure to strategic issues and key players in the world of finance, both nationally and internationally

Key responsibilities: 

• Leading the continued development and delivery of the FCA’scapital market priorities through a period ofsignificant changeanddevelopment.Thiscouldinvolveassessing relativeprioritiesin light ofexternal events.

• Lead the further development anddelivery ofour supervisorystrategiesfor credit rating agencies and benchmark providers, includingin light oftheon-goingevolution in the FCA’s supervisory approach

• Developing our capabilitiesand understanding of marketsthrough use of data analysis andtools,includingchampioning new ways of workingwhereappropriate

• Forging andmaintainingstrong and collaborative partnerships with key internalstakeholders to ensure a coordinated,effectiveand forward-looking FCA approachtocapital markets.

• Representingthe FCA externally with credibility and authority, forging andmaintainingrelationships with external stakeholders (including domesticinternational regulatory authoritiesandindustry representatives), and driving astrong FCA narrativeonUKcapital markets

• Leadingthe Department’s management teamand Technical Specialiststo ensurethatwe work effectivelyandthere is a positive and inclusive cultureTheHoDwill need tomakesure we recruit andretainhigh-quality staff andbeontop ofoperational effectiveness andpotentialrisks

• Representingthe Department at relevant FCA boards,committeesand working groups.And playing an active role as a member of the FCA senior leadership team,includingcontributingto the success of the new FCA strategy.

• Delivering through othersviacoaching,influencingand negotiating skills with a range of internal and external stakeholders 

Skills/Experience Required  

We’re proud to be a Disability Confident Employer, and therefore, people or individuals with disabilities and long-term conditions who best meet the minimum criteria for a role will go through to the next stage of the recruitment process. In cases of high application volumes we may progress applicants whose experience most closely matches the role’s key requirements. (To learn more about the Disability Confident Scheme Click Here) 

Minimum  

• Experience of managing and influencing key stakeholders, including senior decision makers internally and externally

• In-depth experienceand expert knowledge of UK capitalmarkets,ideally with some market facing experience

• Experience in leadingteams with multiple deliverables, ideallyrelated to policy and/or supervision of financial market activities

Essential  

• Role modelling strong leadership behaviours in line withFCAvalues

• The ability to inclusively lead a group of talented individuals with a wide variety of professionalexpertise, experience, and backgrounds – in line with our DEI goals.

• An open and flexible management style and the ability to communicate effectivelyto a wide-ranging audience with different skills and perspectives

• An analytical mind-set and a risk-based approach to decision making, including theability to make effective judgments and decisions often in a time criticalenvironment.

• Ability to act confidently within the legal framework under which key decisions aremade and toidentifylegal risk.

• Excellent oral and written communication skills

• The ability to deal with several competing priorities and work-streams, often undersignificant timepressure.

• A strong senseof the value of teamwork

Desirable

• Good awareness of both the political and media interest in the FCA’s work and theability to manage communications and relationships in these spheres sensitively.

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’. 

The FCA is committed to achieving greater diversity across all levels of our organisation. Given this, 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. 

As part of the FCA’s on-going commitment to develop our national presence, most of our vacancies are now open to working in our Edinburgh, Leeds or London offices. This means that as part of the application process you will be able to select your preference of which office location you would like to work from.

Application Support

We want to remove anypossible barriersand are committed toprovidinga wide range of reasonable adjustments so that you can keep the focus on your conversations and be at your best.

If you have an accessibility requirement, disability, or condition that means you might require changes to the recruitment process, please contact your recruiter to discuss this further. Our aim is to make you application as easy as possible, and your recruiter will be happy to work with you to make any necessary arrangements where possible.

Benefits 

Our competitive benefits scheme gives you the opportunity to create a personalised benefits package, tailored to suit your lifecycle. You can this this allowance to purchase additional benefits such as dental or cycle to work, or you have the option to top up your base salary by taking this as cash. 

Core benefits that you will receive as standard are: 

• 30 days holiday per year plus bank holidays  

• 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 

Conflicts of interest 

All applicants to the FCAare required todemonstratethat 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 alsodiscloseinformation or personal connections that, if appointed, might be open to misperception.  

Any potential conflicts of interestwill not prevent candidates going forward to interview but may, ifappropriate, be explored during the interview toestablishhow the candidate would address the issue(s) should they be successful in their application.  

Useful information 

• The closing date for this role is 23:55 on Sunday 21stJune 2026

• Selection will be via a two-stage interview and psychometric assessment   

• If successful, you will be required to obtain and retain SC Clearance.   

• This role will be based in London, Leeds, or Edinburgh.

• We currently operate a hybrid working model, working a minimum of 40% in the office each month (50% for senior leaders). This way of working applies in our Stratford, Leeds and Edinburgh offices.  From September 2026, FCA employees will be required to spend a minimum of 50% of their working time in the office. Our Executive Director and Directors will be expected to be in a minimum of 60% per month. 

• The salary range for the role is £140,000 to £170,000 in London, and £126,000 to £153,000 nationally 

• To apply please submit your CV and cover letter. 

For further information about the role, please contactLuciBines–luci.bines@fca.org.uk