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Financial Conduct Authority Reviews

Updated 14 February, 2018
184 reviews

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3.4
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Financial Conduct Authority CEO Andrew Bailey
Andrew Bailey
60 Ratings

184 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. "Great work-life balance"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Financial Conduct Authority full-time

    Pros

    Interesting, topical work. Great learning environment - the grad scheme is excellent. Very generous annual leave entitlement. Leave work most days at 5pm if you want.

    Cons

    Salary could be higher - many good people leave for higher salaries in industry. Pension is ok, but not great. All in all though, not many cons.


  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 (UK)
    Current Employee - Associate in London, England (UK)
    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. "Technical Role"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Member of Technical Staff in London, England (UK)
    Former Employee - Member of Technical Staff in London, England (UK)
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Financial Conduct Authority (More than 5 years)

    Pros

    Great group of individuals in a friendly and generally supportive environment.

    Cons

    Teams are often driven by their own agendas and objectives, a more collaborative approach of working is required to achieve greater success. Roles and organisational reporting lines are generally flat which can limited opportunities to progress.

    Advice to Management

    Look for opportunities to promote internal talent, going to market is not only costly, but prevents good talent from progressing, leading to them moving elsewhere.


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  5. Helpful (1)

    "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 (UK)
    Current Employee - Associate - Governance in London, England (UK)
    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.


  6. Helpful (2)

    "Very good place to work. High profile and meaningful work on offer."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Good training and opportunities available for progression.

    Cons

    Not many but could do more on the diversity front.

    Advice to Management

    N/A


  7. "Enforcement Division - Old boys club"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate, Enforcement in London, England (UK)
    Current Employee - Associate, Enforcement in London, England (UK)
    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


  8. "People friendly, varied and interesting work."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Enforcement Manager in London, England (UK)
    Former Employee - Enforcement Manager in London, England (UK)
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Financial Conduct Authority full-time (More than 10 years)

    Pros

    Makes a difference to people's lives. Flexible working is encouraged and you have a lot of control over your working day and projects.

    Cons

    Limited promotions and face has to fit once you get more senior. Salaries and headcount are restricted more and more. The move to Stratford is not liked by the majority of staff.


  9. "Generally good employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in London, England (UK)
    Current Employee - Associate in London, England (UK)
    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


  10. 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 (UK)
    Current Employee - Associate in London, England (UK)
    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.


  11. "Fantastic Place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Paralegal in London, England (UK)
    Former Employee - Paralegal in London, England (UK)
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Financial Conduct Authority full-time (Less than a year)

    Pros

    Interesting work, nice people, genuinely enjoyed my time there.

    Enforcement and Market Oversight seems to be the best place for paralegals to get some legal experience!

    Cons

    Low base salary and difficult progression if you’re not placed in the right team at the outset. Management has changed so hopefully for the best in terms of giving opportunities to younger employees


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