Recruitment experts criticised the extremely brief advertising period from 30 October to 5 November 2022, saying senior roles should typically be advertised for 4-6 weeks to attract suitable external talent.

Managing director of Compliance Recruitment Solutions David Symes told The Times that such a role should be advertised for a minimum of three weeks. Other recruitment experts echoed a typical advertisement period of four to six weeks.

An ex-FCA worker alleged it was “common knowledge” the regulator would “on occasion rig a recruitment process to stack the odds in favour of a preferred internal candidate”.

While the FCA claimed over 40 applied and four external candidates interviewed, auditors were surprised the candidate, Robin Jones, got the senior oversight role with no relevant qualifications after over 20 years at the FCA overseeing areas he’d now audit.

Despite public sector rules mandating professional auditor qualifications, the FCA said it was exempt. Mr Jones is now working towards an unspecified “specific” qualification.