Civil Aviation Authority
Principal/Associate Principal (depending on level of experience).

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Principal/Associate Principal (depending on level of experience)
Salary: £65,000 - £75,000 dependent upon experience
Contract Type: Full Time Permanent
Security Level: BPSS
Location: London / Hybrid (min 2 days per week in office)
Visa Restrictions: This position does not currently offer visa sponsorship
Closing Date: 05 Oct 2026
Interview Date: WC 19 Oct 2026 (teams 1st int/ 2nd in person if required)
We are the UK's aviation and aerospace regulator and recognised as a world leader in its field. Our activities are diverse, enabling the aviation industry to meet the highest safety standards, and we pride ourselves on our ability to adapt to the constantly evolving aviation environment.
The Role
We are looking for a portfolio manager with excellent credit analysis skills and strong communication and problem-solving capabilities to join our team of finance experts in aviation and travel.
The ATOL Finance Licensing (ATF) function’s activities are diverse and broad in scope in regulating c1,600 ATOL holders. Primarily, this role is concerned with the financial sustainability of the aviation and travel businesses that CAA regulates, in this case the financial supervision and regulatory compliance of the 100 leading tour operators under the ATOL consumer protection scheme.
In addition, the team may assist in the financial oversight of UK-registered airlines and companies operating in the space industry. The CAA also manages the Air Travel Trust (“ATT”) fund, set up to repatriate and refund ATOL protected customers in case of failure of an ATOL protected tour operator.
The UK travel and aviation markets are constantly evolving and subject to various short and longer-term challenges and opportunities. This role provides the exciting opportunity to be at the forefront helping shape our regulatory approach as operators seek to deal with the impact of these events.
As a Principal portfolio manager, you will be responsible for assessing and monitoring your portfolio of companies (up to 15) by conducting both qualitative and quantitative in-depth analysis and maintaining oversight of compliance against the legislative and policy framework.
The outcome of which you will use to advise the credit committee and/or CAA senior management on the financial sustainability of the companies in your portfolio, outlining key issues or concerns and making recommendations on setting licensing conditions that are appropriate for the company’s risk profile.
The goal is to ensure travel businesses meet the necessary requirements under the respective legislation and regulations for the benefit of the consumers.
In addition to the above you will also be responsible for:
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- Conducting regular reviews, monitoring trends in the market, and identifying early licensing actions, especially if there are indicators of deteriorating credits
- Taking a leading role in handling complex cases (e.g. companies in financial distress, complex changes to financial or corporate structures)
- Creating and maintaining relationships with CEO's, CFO's and other senior management of licence holders within your portfolio
- Collaborating with our regulatory policy experts to identify and mitigate non-compliance issues and risks
- Supporting the management team, including undertaking ad-hoc projects as requested
- Coaching and developing junior team members to achieve the team’s objectives effectively
- Developing a solid understanding of policy and regulatory framework affecting UK airlines and travel industries, which underpin the team’s decision-making process
- Identifying policies, processes and practices that do not achieve their stated aim, making recommendations for improvements and acting upon these recommendations.
About You
You will need to be dedicated and think creatively to improve analytical methods and monitoring tools to address issues raised by a dynamic and developing industry. You are a strong communicator who can take complex problems and analysis and present your findings and recommendations clearly and concisely.
You also possess strong influencing skills and the ability to carry conviction with external stakeholders, including those at senior levels.
This role would suit a ‘self-starter’ with a growth attitude and desire to learn, who also displays a strong resilience and ability to defend their view when challenged.
Essential:
- Strong experience in credit risk management and/or a financial qualification (e.g. ACA, ACCA, CFA or equivalent) or other relevant experience.
- Knowledge and experience in accounting and economics; corporate finance; debt and equity financing; corporate restructuring; or strategic analysis would be an advantage.
- Ability to manage your own workload effectively and maintain quality and accuracy.
- Good data and modelling skills, including ability to synthesis large datasets to draw out conclusions and develop or interrogate financial models.
Desirable:
- An understanding of policy and regulatory issues affecting UK airlines and travel industries is helpful but not essential.
- Solid experience in understanding of lending facilities and loan documentation.
Additional Information
For many appointments within the CAA, these roles require access to operationally sensitive infrastructure and/or Nationally Protected information. For these roles the post holders must undergo National Security Vetting and achieve the appropriate level of clearance. To be vetted you must have the right to work in the UK so that meaningful checks can be undertaken. If you do not meet these requirements, we may not be able to accept your application.


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For more information on BPSS clearance please visit - [BPSS clearance](BPSS clearance)
The CAA values high ethical standards and personal integrity among employees. If invited for interview you will be asked to complete a declaration of interest.
Relocation & Property
The CAA will be relocating from Aviation House (Our Gatwick Office) to new premises in a few years’ time. Our move is driven by strategic, operational and environmental considerations.
We will be moving to a new local home, up to a 15-mile radius of Aviation House, to minimise disruption for our valued colleagues and customers.
We are now working with colleagues and visitors to understand what we need in our new office, before we start our property search. We will sell Aviation House and land, vacate the site and move to new premises, but we do not expect to move before 2028
Inclusive Recruitment
We are committed to building a diverse and inclusive workforce and welcome applications from all backgrounds. As a Disability Confident employer, candidates who meet the minimum requirements will be guaranteed an interview. Find out more about the Disability Confident Scheme. If you require any adjustments during the recruitment process, please let us know.
Use of Artificial Intelligence by candidates in the CAA recruitment process
We recognise that many of our candidates find Artificial Intelligence to be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be rejected on that basis.
Working With Us
Explore What We Offer section on our careers website to find out about our benefits and how we support work-life balance.
Our Values: Do The Right Thing, Never Stop Learning, Build Collaborative Relationships, Respect Everyone – For more information please [Click Here](Click Here)
Closing Date: 05 Oct 2026
Interview Date: WC 19 Oct 2026 (teams 1st int/ 2nd in person if required)
We reserve the right to close this vacancy early if we receive sufficient applications for the role. Therefore, if you are interested, please submit your application as early as possible.
No recruitment agencies please.
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