The Financial Conduct Authority (FCA) expects to have around 200 new joiners by the end of the first quarter of 2022.

FCA executive director for markets Sarah Pritchard said the regulator is recruiting for senior leaders across supervision, competition, and policy enforcement.

Pritchard discussed the recruitment drive today (8 February 2022) at the City and financial global’s future of UK financial services regulation summit.

The move comes as the regulator faces strike action against proposed cuts to pay and conditions.

Pritchard explained 60 people joined the regulator in January. The FCA expects “similar or increased levels” in both February and March.

She says: “As we evolve to become more innovative, assertive and adaptive, we will continue to offer one of the best, if not the best, employment package of any UK enforcement agency or regulator.

“We look forward to continuing to build our people capabilities and our organisation as a whole by recruiting diverse talent, and supporting career growth of our existing colleagues.”

She also revealed a new finance director will be announced shortly.

Pritchard says: “We will be continuing to build our team of people. Job vacancies at the end of the last year in the UK were at a record high.

“We are fortunate that our turnover has remained in line with pre-pandemic levels – and with new roles created through transformation you will see us continuing to hire at pace, attracting highly talented colleagues from private sector, public sectors and other regulators too.”

Pritchard outlined the regulator is moving to recruiting “campaign style” within the broader organisation.

The FCA wants to ensure it can regularly bring in talent in London, Edinburgh, and Leeds.

“We have completed the bolstering of our authorisations team, with 95 new colleagues joining to help ensure our gateway is robust, to speed up our authorisations processes and to support new, innovative firms – the gateway plays a key role in supporting a competitive financial system,” Pritchard says.

She stresses the regulator is making “major strides” towards diversity targets.

Pritchard said 47% of the FCA’s senior leadership team (SLT) is female as of the end of January. It is up 43% compared to this time last year.

The FCA is aiming to have a 50% female SLT by 2025.

She also said that a least 15% of the SLT is now from an ethnic minority.

In the last quarter, a number of new senior leaders have joined the FCA.

Stephen Braviner Roman joined as general counsel and member of the executive committee in December 2021.

Other joiners include Miles Bake as director of governance and Amit Shanker as head of digital.