Why Every FCA-Regulated Firm Needs a Strong Head of Regulatory Reporting

Welcome to the FD Capital Leadership Podcast, where we explore the people, regulations, and leadership trends shaping financial services today.

I’m your host, and in today’s episode we’re discussing one of the most critical — and increasingly high-risk — leadership functions inside FCA and PRA-regulated firms:

The Head of Regulatory Reporting.

As regulatory scrutiny intensifies across banking, fintech, investment management, insurance, and payments, firms are discovering that regulatory reporting is no longer just a finance process. It’s now a strategic risk function.

And getting it wrong can be extremely expensive.

Today we’ll explore:

•  What a Head of Regulatory Reporting actually does 
•  Why the role has become strategically important 
•  The growing pressure from FCA and PRA reporting expectations 
•  The talent shortage in this market 
•  And how FD Capital helps regulated firms recruit specialist regulatory reporting leaders. 

SEGMENT 1 — THE CHANGING ROLE OF REGULATORY REPORTING

HOST:

Traditionally, regulatory reporting sat quietly within finance operations.

It was viewed as a technical process:
 Compile the returns, validate the numbers, submit them on time.

But today the environment has changed dramatically.

The UK regulatory framework has become far more data intensive and far more intrusive.

Regulators expect firms to demonstrate:

•  Accurate prudential reporting 
•  Strong governance 
•  Complete audit trails 
•  Timely escalation of errors 
•  And robust controls around reporting infrastructure. 

According to FD Capital’s Head of Regulatory Reporting guide, the role now sits at the intersection of finance, compliance, risk, and technology. 

That means firms increasingly need professionals who understand:

•  COREP 
•  FINREP 
•  MIFIDPRU 
•  EMIR 
•  Solvency II 
•  ICAAP and ICARA frameworks 
•  And the systems and data architecture underpinning those returns. 

This is no longer a “back-office reporting role.”

It’s a strategic control function.

SEGMENT 2 — WHY FIRMS ARE UNDER PRESSURE

HOST:

The pressure on regulated firms has intensified significantly over the last few years.

We’ve seen:

•  EMIR Refit implementation 
•  Operational resilience regulation 
•  DORA requirements 
•  Enhanced scrutiny under SMCR 
•  More complex prudential reporting under MIFIDPRU 
•  And increasing FCA enforcement around governance failures. 

When reporting goes wrong, regulators pay attention quickly.

Late submissions, inaccurate returns, missing disclosures, or poor reconciliations can trigger:

•  Supervisory intervention 
•  Section 166 reviews 
•  Remediation programmes 
•  Increased capital scrutiny 
•  Or reputational damage with the FCA and PRA. 

That’s why firms are investing heavily in experienced Heads of Regulatory Reporting who can:

•  Build scalable reporting frameworks 
•  Improve controls 
•  Lead transformation projects 
•  Manage regulator interactions 
•  And oversee reporting change programmes. 

SEGMENT 3 — THE TALENT SHORTAGE

HOST:

One of the biggest challenges in the market today is the shortage of truly experienced regulatory reporting leaders.

The skillset is highly specialised.

A strong candidate often needs:

•  Accounting qualifications 
•  Deep regulated-firm experience 
•  Technical reporting expertise 
•  Systems transformation capability 
•  And strong stakeholder management skills. 

Importantly, experience is highly regime-specific.

Someone with deep MIFIDPRU expertise may not have COREP experience.
 A Solvency II specialist may not understand investment firm reporting requirements. 

That’s why generic finance recruitment approaches often fail in this market.

Firms need recruiters who genuinely understand:

•  FCA regulation 
•  PRA frameworks 
•  Prudential reporting structures 
•  SMCR accountability 
•  And the operational realities of regulatory reporting teams. 

SEGMENT 4 — HOW FD CAPITAL SUPPORTS REGULATED FIRMS

HOST:

This is where FD Capital has developed a strong specialist position.

FD Capital recruits senior finance, compliance, and regulatory leadership roles across UK FCA and PRA-regulated firms. 

The firm works across:

•  Banks 
•  Investment firms 
•  Wealth managers 
•  Fintech businesses 
•  Insurance firms 
•  Payment institutions 
•  And challenger banks. 

What differentiates FD Capital is the technical understanding behind the recruitment process.

The firm specifically assesses candidates against:

•  Reporting regime experience 
•  Regulatory frameworks 
•  Prudential expertise 
•  Systems exposure 
•  And transformation capability. 

And because regulatory change projects often move quickly, FD Capital also supports interim and contract hiring for:

•  EMIR Refit 
•  Regulatory remediation 
•  Reporting transformation 
•  ICAAP and ICARA delivery 
•  And operational resilience programmes. 

SEGMENT 5 — MARKET TRENDS FOR 2026

HOST:

Looking ahead, we expect several trends to continue shaping the regulatory reporting market.

First:
 Automation and data governance will become increasingly important.

Heads of Regulatory Reporting are now expected to understand not just finance — but data lineage, reporting technology, and control frameworks.

Second:
 Regulatory accountability will continue increasing.

Even where the role itself is not an SMF function, firms still expect senior accountability and stronger governance oversight. 

Third:
 Demand for experienced professionals will remain extremely strong.

The market remains candidate-short, especially for individuals with:

•  Banking prudential reporting experience 
•  MIFIDPRU expertise 
•  EMIR and transaction reporting knowledge 
•  And regulatory transformation experience. 

CLOSING

HOST:

If your organisation is building or strengthening its regulatory reporting capability, working with a specialist recruitment partner can make a major difference.

You can learn more about FD Capital’s specialist regulatory reporting recruitment services here:

Head of Regulatory Reporting Recruitment

And for broader FCA-regulated recruitment support:

FD Capital FCA Regulated Firms Practice

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Until next time.