UK regulator FCA pushing through major tech transformation, seeks Technology Director

The Technology Director will oversee a team of 350 staff in the Business and Technology Solutions Division and will need experience in working with legacy systems and simplifying data and systems architecture.

The UK’s Financial Conduct Authority is on the hunt for a director of technology as it pushes through a major transformation programme to better help it regulate the 60,000 financial services firms under its remit.

Significant improvements in digital enablement, business intelligence, market data, knowledge and information management maturity are being pursued by the regulator as it faces up to a new world of finance, disrupted by the arrival of new technology, fintech startups and the power of Big Tech firms.

The new technology chief will be expected to deliver multi-million pound vendor assisted programmes aimed at keeping the FCA at the forefront of financial innovations.

In a speech delivered yesterday, chief executive Nikhil Rathi, outlined the scale of the transformation: “The ambitious transformation programme we are working on at the FCA encompasses everything that we do – our culture, our people and our technology. We need to make further investments in a more digital and data-enabled approach. Improving our capabilities will also aid our evaluation and engagement with industry on topics like big data, model risk management and artificial intelligence.”

The technology director, reporting directly to Mr Rathi, will oversee a team of 350 staff in the Business and Technology Solutions Division and will need experience in working with legacy systems and simplifying data and systems architecture.

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.

    Web3

    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

    <