30+ years of financial services experience (28 years in financial regulation)
MiFID II, investor protection, governance and compliance and conduct expert
Supervised banks and investment, insurance and mortgage firms
Led large complex change programmes and managed large teams
MBA and Prince 2 qualified, based in London and Amsterdam
+44 207 863 4704
Regulation is highly technical and always evolving. You need to be able to adapt effectively and interpret requirements pragmatically.
Jeremy Heales, is a Senior Director with Alvarez & Marsal in the Regulatory Advisory Services Division in London.
He has over 28 years experience in Financial Services Regulation at the Bank of England, the Financial Services Authority (FSA) and Financial Conduct Authority (FCA). He was formerly Head of Regulatory & Supervisory Change at the FSA and Head of Retail Banks at the FCA.
Mr. Heales led the programme to establish the FCA working closely with the CEO and Board, and included work on organizational design, risk appetite, competition, people strategy, and the interfaces (Memorandum of Understanding) with the Prudential Regulatory Authority (PRA). He also oversaw the development of FCA's new 3 pillar conduct supervision model which included the development of a new prudential approach for those firms not regulated by the PRA. Mr. Heales was credited by the FCA Director of Supervision, Clive Adamson, as being “pivotal in transforming the supervision approach and implementing the new conduct supervision model.”
Mr. Heales has supervised UK and overseas firms, mostly notably Retail Banks, Investment firms, as well as Mortgage and General Insurance firms (where he was involved in Solvency 2 and the review of with-profits business known as Project Chrysalis). He also has experience in the new conduct supervision model including chairing of risk committees, leading visits to firms and dealing with issues on complaints handling, payment protection insurance, financial crime, as well as enforcement cases.
In addition to his wide supervision experience, Mr. Heales has previously worked in Internal Audit, Finance (where he redesigned fees policy and operations), HR (where he introduced a new performance management framework), Authorizations (where he successfully led a project to approve 90,000 individuals) and Integrated Regulatory Reporting (where he introduced a new tailored reporting regime including mandatory electronic reporting for firms).
Mr. Heales has led transformational change programmes involving complex IT development (including the managing of overseas suppliers), along with a track record in motivational leadership and delivery. He has a MBA and is experienced in project management (Prince 2 qualified).