Karen CroxsonHead of Research and Social Data Science at Financial Conduct Authority (FCA)
Karen lead’s the FCA’s scientific research program and co-heads the FCA’s Economics Department, where she has built an Economic & Social Data Science function for the regulator. Her teams integrate economics, behavioural science and data science to uncover how markets work, detect consumer harm as well as risks to market functioning and stability. They also inform the design of policy interventions and test their impact, often through randomised controlled trials or other causal analysis (“what works”). Some of their work assesses the opportunities and risks from technology, big data and AI in financial services to inform the regulatory approach to digital markets and Karen has led recent FCA joint work on algorithmic processing/AI with the UK’s Digital Regulation Cooperation Forum and with the Bank of England. She also represents the FCA on the Financial Stability Board’s Analytical Group on Vulnerabilities, which assesses systemic risks to the global financial system.
Before joining the FCA Karen worked for McKinsey & Co. as a strategy consultant in Europe and the US. She later led data science work at QuantumBlack, McKinsey’s specialist data science agency. Her early career was focused on academic research as a postdoctoral fellow at the University of Oxford and lecturer specialising in game theory and applied econometrics. She serves on the advisory board for the Social Data Science Masters and PhD programs at Oxford and is an Honorary Professor in Economics at the University of Nottingham. She is also a Non-Executive Director at FinRegLab and has advised other “AI for good” initiatives.