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Financial Conduct Authority Reviews

Updated 19 February 2018
186 reviews

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186 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. Helpful (3)

    "A complex organisation trying to make a difference"

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

    I have been working at Financial Conduct Authority full-time (More than 10 years)

    Pros

    Interesting and challenging work
    Great people, working hard in the interests of consumers
    Great work life balance and lots of flexibility
    Competitive salary, and good benefits package including bonus
    Exciting opportunity to have a brand new office, and finally some investment in technology

    Cons

    Challenging culture, can be slow to get things moving, lots of committees and everyone wants to have a say
    Some of the basics don't work well; wifi, conference calls, toilets. ... but improvement promised with the move to Stratford next year.

    Advice to Management

    Be clear about expectations of managers, reward and recognise those who role model good leadership - rather than promoting technical skills


  2. "Great sense of purpose and job satisfaction"

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

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

    Pros

    Supportive culture
    People believe in what they do
    Good working hours and work culture
    Great quality of colleagues
    Good senior leadership team for the most part
    Good benefits and salary isn't too bad
    Great work life balance

    Cons

    Sometimes people are too wrapped up in their job and their view to seek help and give support elsewhere.
    Has a strong silo culture, sometimes even in departments. Overall it seems to be known to be an issue but tackling it will be challenging.

    Advice to Management

    Continue to get the whole building working together


  3. "it has been greatly awesome"

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

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

    Pros

    great but could be better especially salary

    Cons

    work load and salary not the best

    Advice to Management

    do better


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (2)

    "Great pay but such a waste of human potential"

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

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

    Pros

    Great pay - above market rates for public policy professionals
    Great people - serious expertise and intelligence on display. I've rarely met anyone I didn't feel was not pulling their weight and most colleagues have impressed me

    Cons

    It is very demotivating that subject matter experts are banned from presenting on their work externally - unless they are at Head of Department level or above.

    More generally the regulator is incredibly inward focused - easily 90% of my work is inward looking and there is very little reflection in the organisation about whether this is the right approach.

    The Governance process is atrocious. From the moment a subject matter expert knows what they need to do, it usually takes a month to formalise the decision and another month to put it in writing.

    Seniors' time is so scarce it is impossible to benefit from their knowledge and experience.

    The organisation has an amazing ability to waste employee time - months' worth of work can be binned overnight.

    Advice to Management

    Some of our Senior Associate roles could easily be split


  6. Helpful (3)

    "Senior Associate"

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

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

    Pros

    * There is a much better work/life balance than in industry - as a former consultant, my hours were 07:00 to 19:00; here, my hours are more like 08:00 to 17:00.
    * The benefits package - when you consider the work-life balance - is good.
    * Opportunity to contribute to some significant pieces of work, and feel like you're making a real difference to customers. Also opportunities to get involved in various extra-curricular projects.
    * (Current) location of offices is good - London and Edinburgh, though the London office is moving from Canary Wharf to Stratford from April 2018 (see 'cons').

    Cons

    * It is difficult to get promoted - when more senior vacancies arise, there is a great deal of competition for the places, which can leave you pretty disappointed.
    * Further, promotions are not merit-based - you are promoted based on how visible you are. So, you can have no idea what you're doing, but as long as you *behave* the right way and do lots of extra (but meaningless) project work, you'll go far.
    * The organisation often confuses 'judgements' with 'opinions' - failing to recognise the need to get a sound evidence base before reaching a judgement.
    * The move to Stratford in April 2018 is significant, but it doesn't feel as though management are recognising these concerns.
    * Getting people to make a decision is painful - everything has to be deferred to a committee.

    Advice to Management

    Be more trusting of your employees. Stop confusing 'judgement' and 'opinion'. Stop deferring everything to committees. And (biggest of all) start to promote and recognise employees on the basis of MERIT, rather than personality/likability/visibility.


  7. "FCA"

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

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

    Pros

    Important work, family friendly, good for CV

    Cons

    Management promote in their own image


  8. "Review"

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

    Pros

    Diverse range of people and work

    Flexible Benefits

    Pension Scheme

    Cons

    - Lack of transparency
    - Lack of accountability
    - Lack of trust
    - Very difficult to get an answer sometimes, you often have to go through several channels of communications to get an answer when in fact speaking to that one person will get you the answer straight away.
    - Too bureaucratic
    - Move to Stratford
    - Politics get in the way too often to get things done
    - Some rules tend to only apply for Managers and not at all / very limited to direct reports.
    - Not many opportunities to move up. Limited career progression. Most tend to be sideways moves which prove no benefit to personal development, so you end up doing the same thing for several years
    - Antiquated IT systems
    - Not making use of the right people with the right skills from internal candidates.

    Advice to Management

    Put trust in what your employee's do and be more transparent with things that are going on. People talk, and you're not doing your team / department any favours by hiding this from them.


  9. "Great organisation in the main, excellent packages and opportunities, progressive and inclusive culture."

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

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

    Pros

    Fantastic salaries, comprehensive benefits, great staff services like canteen, doctor, gym, counseling. A performance based bonus program exists, and there is a focus on continuing training and education.

    Cons

    The performance bonus program is not consistently applied and varies widely from manager to manager and team to team. Progression and career development opportunities are plentiful until associate to manager level and above.

    Advice to Management

    Foster a more joined up culture between managers and develop mutually beneficial team objectives.


  10. "Good culture"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    good work life balance, support diversity

    Cons

    not everyone is passionate about their work


  11. Helpful (1)

    "Fantastic learning experiences but impossible to progress even if a consistent high performer"

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

    I have been working at Financial Conduct Authority part-time (More than 10 years)

    Pros

    Excellent exposure to supervision, rule making, great to work for an organisation who are genuinely trying to do something good for the public good. New CEO Andrew Bailey a positive force in the organisation and well liked and respected.

    Cons

    The HR competency framework makes it impossible for talented associates to make management as there are always questions which you can only demonstrate competency in if you have recent management experience. Other organisations rate your potential not your actual experience, as such lots of talented staff leaving and replacements may not be as good but somehow have an external management job title allowing them to tick the box.

    Advice to Management

    Sadly the competency framework for associate promotion to manager isn't fair or fit for purpose as talented staff with potential can't move ahead and leave. This needs to be addressed quickly to stop the brain drain.


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