UK FSA recruiting credit risk head

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LONDON – The UK’s Financial Services Authority is shopping for a new head of credit risk, to take charge of a new credit risk team.

In a recruitment advertisement in the Financial Times on October 2, the regulator says: “At this uniquely challenging time, there are unprecedented changes ahead for our complex, high-profile organisation, including the creation of a new credit risk team.”

The new executive will be part of the prudential risk division’s senior management team, and will manage the credit risk resources across corporate credit, retail credit and structured finance. The executive will also be responsible for recruiting, coaching and managing a 25-member team, and developing their skills.

The FSA has been accused in some of the UK’s mainstream media of having too light a touch in regulating financial services firms, and not having enough intimate knowledge of their business practices.

The FSA’s website is advertising at least 15 posts in a variety of areas, including market abuse, counterparty risk supervision and corporate credit model review.

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