Head of Risk Advisory – 2LOD

The FCA have a clear vision to create a fair and more resilient financial system. They are establishing more transparent relationships between financial services and customers, building trust in financial markets and protecting vulnerable consumers.

The FCA are on an exciting journey as they drive forward significant organisational, people, process, and technology transformation to become a more forward-thinking, proactive regulator. Already significant improvements in digital enablement, business intelligence, market data and information maturity are all being pursued to maintain their position as a world leader in financial services reputation.

We are partnering with the FCA to help appoint a new Head of Risk Advisory, a key role in the FCA’s Second Line of Defence (2LOD), reporting to the Director of Risk and Compliance Oversight.

The Role

We’re looking for a talented and influential Head of Department to join us on a permanent basis. You will be accountable for providing high-quality, trusted risk advice and oversight across the FCA. This will be accomplished through the leadership of a team of risk experts specialising in risks of harm as well as operational, execution, and public confidence risks.

As a key pillar of the FCA’s 2LOD, the team’s remit includes offering authoritative guidance, challenge and oversight of risk management across the FCA. Cultivating strong partnerships with the First Line of Defence (1LOD) is key to ensuring risks are appropriately managed and the trade-off between risk and opportunity is carefully considered in decision making, in line with organisational risk appetite.

Key deliverables include the development, implementation and maintenance of risk appetite statements, continual scrutiny of the risk and control environment, and support for comprehensive risk assessment activities across major change programmes and business-as-usual operations. The team will regularly provide clear, evidence-based opinions to senior management, the Executive Committee, and the Board Risk Committee, evaluating the effectiveness of risk management and balance between risk and opportunity, and recommending targeted improvements where necessary.

What will you get from the role?

• Joining the Senior Leadership Team at the FCA during an exciting and challenging time of great change in financial services and its regulation
• Leading a department of talented and committed people through significant projects whilst also delivering on business-as-usual objectives

Key Responsibilities

• Act as a senior leadership team member of the Risk and Compliance Oversight Division (R&CO), with collective responsibility for formulating and delivering R&CO’s annual business plan and operating the Risk Advisory Department in a way that is commensurate with the R&CO Vision.
• Deliver insightful, impactful risk advisory services into 1LOD that challenge thinking and enrich 1LOD consideration of risk, enabling 1LOD to make informed, risk-conscious decisions that balance risk and opportunity in line with organisational risk appetite.
• Ensure that risk activities for the Risk Advisory team are strategically aligned with the FCA’s overarching objectives and business plan, with a focus on continuous improvement to achieve an optimal, effective risk and control environment.
• Provide expert advice and guidance on risk and the organisational approach to risk management, providing feedback and support on how this is reflected in the risk management system, ensuring consistent organisation-wide understanding and adoption.
• Identify, develop and maintain strong relationships with key stakeholders across 1LOD, enabling robust, constructive risk discussions that ensure good understanding of key risks being faced and identification of emerging risks.
• Deliver meaningful, evidence-based insights, which add tangible value to stakeholders and enable the balanced management of risk and opportunity to optimise the success of the organisation. Produce practical, usable opinions and reporting on key risks to senior management, the Executive Committee and Board Risk Committee, which demonstrate a clear understanding of business strategies and risks, and constructive challenge of risk management measures.
• Champion transparency in all risk reporting and communications, ensuring clarity and accountability, overseeing the quality and accuracy of divisional risk and control profiles on CoreStream, the organisation’s Risk Management System.
• Work collaboratively with the Enterprise Risk Framework Team to support the refinement and maintenance of the risk framework, policies, and standards, ensuring these are practical, value-enhancing, and embedded across the FCA.
• Chair the R&CO Strategic Risk Forum, on behalf of the Director, ensuring agendas meet terms of reference requirements, focus on the key risks facing the organisation and deliver meaningful insight and outputs.
• Deliver designated projects such as refining the FCA’s risk appetite, conducting in-depth analysis of thematic risks, and driving initiatives to optimise the risk and control environment.
• Recruit, develop, and manage staff in accordance with the FCA capability framework, fostering a high-performing, professional, and engaged team culture.
• Act as an exemplar of the FCA’s core values, nurturing a culture of openness, integrity, and continuous professional development where all colleagues are empowered to achieve their potential.

Skills and Experience

FCA are 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

• An expert in risk management practices and Second Line of Defence, with significant experience in risk management within complex and regulated environments, ideally within financial services or the public sector.
• Exceptional analytical and critical thinking abilities, with a proven capacity to interpret complex information and deliver cogent, actionable and innovative reports and recommendations.
• Superior stakeholder management and communication skills, with the ability to influence and challenge senior leaders effectively.
• Experience in the development and implementation of risk and control frameworks, policies, and risk appetite statements.

Essential

• Proven ability in optimising the risk and control environment, including facilitating robust risk and opportunity assessments and supporting organisational change initiatives to balance risk and opportunity, making risk-conscious decisions.
• Sound judgment, with deep understanding of risk trade-offs and opportunity cost, a strategic mindset, and a strong commitment to ongoing professional growth.
• Demonstrable experience in leading and developing high-performing teams of subject matter experts.
• Demonstrable experience of leading a second line team/function and presenting to senior leadership.
• Must demonstrate resilience and energy in navigating challenge and complexity.
• Comprehensive understanding of industry best practice and emerging trends in risk management.

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 any possible barriers and are committed to providing a 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.

Conflicts of interest

All applicants to the FCA are required to demonstrate that 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 also disclose information or personal connections that, if appointed, might be open to misperception. Any potential conflicts of interest will not prevent candidates going forward to interview but may, if appropriate, be explored during the interview to establish how the candidate would address the issue(s) should they be successful in their application.

The FCA has retained Green Park Executive Search to advise on this appointment.

Useful information

• Selection will be via a two-stage interview and psychometric assessment
• This role can be London, Edinburgh or Leeds based. If the successful applicant is based in Edinburgh or Leeds, regular travel to the London office will be required as the team is primarily London based.
• Salary range between £130,000 - £165,000 (London) £118,000 - £148,500 (National) + comprehensive benefits and up to 12% non-contributory pension.
• If successful, you will be required to obtain and retain SC Clearance.
• We currently operate a hybrid working model, working a minimum of 50% in the office each month.

How to Apply

Please submit your CV and cover letter in the link below.

For an informal conversation about the role please contact Jack Montague-Nelson from our dedicated executive search partners Green Park on jack.montague-nelson@green-park.co.uk  

For more information, please view our candidate pack HERE

Deadline for applications: 23:59 Monday 11th May 2026.