A job advert for the role states that “effective regulation requires a realistic understanding of consumer and firm behaviour”.
The new recruit would be working in the Economics of Financial Regulation (EFR) team in the Risk and Research Division (PRR), which provides research on key implications for conduct regulation in financial markets from a behavioural science perspective.
The advert goes on to say: “Join us and you will have the chance to help shape how behavioural insights get used at a rapidly developing public body – one which has the power to make a profound impact on many people’s lives. Excel and you’ll find there are extensive development opportunities in applied economics, financial services and broader professional skills.”
The role will involve producing analysis on which the FSA, and the incoming Financial Conduct Authority (FCA), can base their approach by undertaking detailed work on behavioural issues alongside traditional market failures and competition problems.
“There will also be the opportunity to assist with the design of regulatory remedies, contribute to FCA competition studies and provide advice on behavioural economics across the FCA,” according to the advert.
It continues: “This particular role is likely to involve researching, analysing and testing insights from consumer (and firm) psychology. Your efforts will play an important role in helping us design more effective regulatory interventions.”
The salary for the role is between £40,000 and £70,000.