The Financial Conduct Authority (FCA) has begun advertising for case officers as it looks to tackle its authorisations backlog.
A job advert from the City watchdog said the regulator is recruiting for associate roles in its new authorisation, variation of permission, change in control and cancellation teams.
The job involves considering the business models of firms, including peer-to-peer lenders, that are seeking authorisation and assessing any potential harm that a business could cause.
The advert said successful applicants will be joining at a “critical time” as the authorisations team implements a wide range of regulatory changes.
The role pays £42,000 to £45,000 in London and £38,000 to £41,000 nationally.
“Authorisations is the first point of contact for firms and individuals who want to undertake regulated financial services in the UK,” the FCA said in its job listing.
“We make decisions about applications for authorisations, variations of permissions and change in controls, ensuring firms and individuals meet our standards.
“The applications we review cover a range of different situations and include applications from firms or individuals who are new to regulation or are requesting to vary permissions from existing firms. The department also assesses and makes decisions on firm cancellations. Our primary focus is to protect consumers and proactively prevent harm to consumers and markets.”
It was revealed in February that the City regulator had hired consultants to help fight the backlog in authorisations, while it recruits for new staff amid criticisms of delays.
Chief executive Nikhil Rathi (pictured) has previously said the regulator is working hard to address this by hiring more staff and digitalising the approval process.