Regulates the financial services industry, including markets, exchanges and firms.
The financial regulator regulates the financial services industry including markets, exchanges and firms. They typically work for government bodies or independent standards organisations to ensure financial services meet industry-specific regulations.
Financial regulators can work in different departments to ensure financial service companies are compliant with the law and financial regulations. Regulators also provide information to consumers to protect them from improper practices. In the Republic of Ireland, regulation is the responsiblity of the Irish Financial Services Regulatory Authority of Ireland (known as the Financial Regulator), a division of the Central Bank and Financial Services Authority of Ireland (CBFSAI); this incorporates areas such as economic analysis, customer protection, regulation of markets and financial institutions and payment and currency. The UK is regulated by the Financial Services Authority (FSA), with main offices in London.
You will regulate/analyse firms and financial markets and implement regulatory policy. Starting out, you may supervise a small bank or be involved with the development of policy. Regulation also requires functions such as accountants, legal representatives and IT, HR and marketing professionals. The FSA has annual recruitment and offers a number of graduate training schemes. To work for the Financial Regulator, you apply to the CBFSAI. Recruitment is ongoing and you may work across their banking, regulating or support functions. Financial firms such as hedge fund managers often have compliance functions within their finance departments.
Travel: may feature.
Working hours: mainly 9.00 am to 5.00 am with some longer hours around deadlines; freelance financial regulators manage their own hours.
Location: the Central Bank of Ireland is based in Dublin.
A degree in a related subject such as law, accountancy or finance is generally required. A postgraduate qualification specialising in a related field is advantageous for applications. Prior relevant experience is generally a prerequisite.