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.

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