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Financial Conduct Authority Associate Reviews

Updated 9 February 2018
91 reviews

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Associate

3.3
StarStarStarStarStar
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Financial Conduct Authority CEO Andrew Bailey
Andrew Bailey
27 Ratings

Employee Reviews

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Pros
  • Great work life balance and lots of flexibility (in 68 reviews)

  • Interesting work, nice people, genuinely enjoyed my time there (in 26 reviews)

Cons
  • but improvement promised with the move to Stratford next year (in 15 reviews)

  • There is limited career progression (in 14 reviews)

More Pros and Cons

  1. "Senior Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Associate
    Current Employee - Senior Associate
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Financial Conduct Authority full-time (Less than a year)

    Pros

    Great friendly atmosphere and opportunity to learn. Career progression is actively encouraged within the division and organization as a whole.

    Cons

    A hierarchical structure means decision making is made up the tree with limited executive power for senior associates. Joining process took forever!


  2. Helpful (1)

    "I wonder if management reads these..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Current Employee - Associate in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Financial Conduct Authority full-time (More than 3 years)

    Pros

    Flexible working
    Great people
    Interesting and varied work
    Great HoDs

    Cons

    There needs to be clearer lines of responsibilities between the pay grades (often Reg B's are doing Reg C work etc. with no reward or recognition)

    People management is varied across the organisation

    There is a clear message from management to help career development but in practice management don't encourage staff.

    HR - good luck to anyone in the recruitment process. I had to complete 300 words, 1 case study and 3 interviews for an internal lateral move! #excessive.

    There is no consistency across the FCA

    We often hold firms to account for poor governance/oversight/systems and controls/accountability etc. but fail to implement the same standards internally.

    Advice to Management

    There is so much talent and drive in the building - don't take it for granted.


  3. Helpful (2)

    "10 year's experience - but impossible to move roles"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate - Governance in London, England
    Current Employee - Associate - Governance in London, England
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Financial Conduct Authority full-time (More than 8 years)

    Pros

    Benefits, inclusive environment, work life balance (most of the time)

    Cons

    Difficult to move jobs - competence based interviews, assessments - there seems to be little value placed on potential, experience or performance in current role.

    Advice to Management

    Make it easier for people to move departments or divisions - their experience is valuable surely. Find a way to better understand people's transferable skills. Assess people for their passion, performance in their current role, their ability to learn new things - must be better than utilising robotic competence questions which test peoples ability to answer a question but not their real skill level.


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  5. Helpful (1)

    "Enforcement Division - Old boys club"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate, Enforcement in London, England
    Current Employee - Associate, Enforcement in London, England
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Financial Conduct Authority full-time (More than 3 years)

    Pros

    High quality work, especially on the legal side
    Good work life balance -
    Talented people who make great role models

    Cons

    Lots of empty promises
    Very poor remuneration- even for public sector
    Progression much harder if you’re not a white middle class male
    No transparency around pay
    Impending move from Canary Wharf to Stratford

    Advice to Management

    Make an effort to be aware of unconscious bias
    Make pay transparent


  6. "Generally good employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Current Employee - Associate in London, England
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Financial Conduct Authority full-time (More than 8 years)

    Pros

    Flexible working, fairly good salaries, additional benefits such as private medical care, pension.

    Cons

    Lack of consistency across departments and even teams, poor talent management, difficult to progress within your own department


  7. Helpful (1)

    ""Authorisations - lending and intermediaries" - Ok but room for improvement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in London, England
    Current Employee - Associate in London, England
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Financial Conduct Authority full-time (More than 3 years)

    Pros

    Lots of opportunities for sideways moves.
    Mostly nice people.
    Good canteen.
    Lots of knowledgeable people to learn from.
    Friendly Head of Department who is easy to get along with.

    Cons

    Reg As doing the same work as Reg Bs and Reg Cs and not being appropriately rewarded for this.

    Confused risk appetite - measures have been implemented in an attempt to improve consistency. Unfortunately we now have a number of guides to assist case officers which don't always marry with each other i.e. one guide will categorise the firm's risk to our objectives on one set of criteria and another guide will categorise the firm on a different set of criteria, each with different results.

    A number of long time associates who resist any fresh input and work to undermine newer associates and managers.

    Managers openly undermining each other.

    Tiresome relationship with supervision - often feels like we're on opposite teams.

    It is too difficult to refuse authorisation to firms - the hurdles are too high. It often feels like you are pushing firms to improve processes with nothing to threaten them with if they refuse.

    Silly amounts of administration to close a case - renaming of all emails, recording of risk category, checklists, case notes, manual email confirmations etc.

    Director who doesn't seem to have a clue about how difficult the work is on the ground, just wants results!

    Advice to Management

    Stop undermining each other. While it's a source of gossip, it's not a good look.


  8. "Associate, Case Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate, Case Officer in London, England
    Current Employee - Associate, Case Officer in London, England
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Financial Conduct Authority full-time (More than 5 years)

    Pros

    Excellent benefits and flexible working pattern

    Cons

    Training and development facilities - which they are in the process of improving

    Advice to Management

    N/A


  9. Helpful (2)

    "It's ok, but could be so much better"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate In BTS in London, England
    Current Employee - Associate In BTS in London, England
    Neutral Outlook
    No opinion of CEO

    I have been working at Financial Conduct Authority full-time (More than 3 years)

    Pros

    Working in BTS (IT) can command a high salary in comparison to other colleagues in the business, but is in line with IT Industry standards. Overall benefits are good if not better than the private sector.

    Cons

    Poor leadership and management within BTS. It will be interesting to see if this changes with the new CIO, however, we have senior managers and managers who if they were working in large Corporations, would have been removed by now. There is too much micro management and old style approaches that you can feel constrained.

    Advice to Management

    Board - you need to really look and challenge the senior people you place in positions of authority. Really look into the feedback that your staff are posting as opposed to what appears to be is a slight nod to the feedback with little or no action.


  10. "Great place to work, interesting work, lots of opportunities but pay rises limited"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate - Investigator in London, England
    Current Employee - Associate - Investigator in London, England
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Financial Conduct Authority full-time (More than 3 years)

    Pros

    Lots of training, opportunity to study MSc in Financial Regulation, flexible working, variety of roles and ability to move around the organisation, scope for progression within many roles, better pay than civil service and FOS, interesting work.

    Cons

    Pay rises very limited, even when progressing upwards in a role or moving internally. Lots of bureaucracy.

    Advice to Management

    Less bureaucracy would mean work would move faster. Reward good employees when they progress.


  11. Helpful (3)

    "Good work life balance but bureaucratic"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Lead Associate in London, England
    Current Employee - Lead Associate in London, England
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at Financial Conduct Authority full-time (More than 5 years)

    Pros

    - work life balance
    - benefits package and up to 38 days holiday
    - interesting and varied work
    - lots of opportunity to move around the organisation
    - very pro minority groups and inclusive culture

    Cons

    - terribly bureaucratic
    - poor managers generally lacking in people skills that have very long tenure
    - lack of empowerment
    - very skilled and talented people often under utilised so they leave
    - general lack of industry experience means you get "experts" within industry sectors who have never worked in industry and lack commerciality
    - senior management value those that are "talking the fca language" over genuine talent creating an internal bias

    Advice to Management

    - remove burdensome process
    - do more focused and targeted recruitment externally
    - better training programmes
    - hold poor management to account or exit them
    - send staff on more external secondments
    - focus efforts on driving efficiency and better value for money. Hold people to account for poor performance