Location: UK: London

Opportunity: Supported hiring, with flexible working

Start date: ASAP

Apply by: 8 October 2021

Applications are now closed

The Bank of England is the UK’s central bank. Its mission is to deliver monetary and financial stability for the British people.

The Bank is recruiting for a Senior Associate to join the Central Information and Strategy Team (CIS), within the Supervisory Risk Specialists (SRS) Director’s Office. The Bank of England welcomes professionals who have taken an extended career break to apply for this permanent role. A successful hire who has taken a career break of 2+ years will receive coaching support through the transition period from Women Returners. The Bank is absolutely committed to having an inclusive environment. Improving the diversity and depth of experience of staff is something that the Bank is passionate about. They support their staff in structuring their working arrangements to balance their work-life needs. This role is open to job shares, flexible (including working from home days) and part-time working patterns. The Bank also offers many opportunities for training and career development.

The Bank has hired a large number of returners over the last few years. Read Melissa’s story here. Learn more about working at the Bank here.

About the Central Information and Strategy Team

On 1 April 2013 the Prudential Regulation Authority (PRA) became responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. The PRA was created by the Financial Services Act (2012) and is part of the Bank of England. As a directorate of the PRA, the Supervisory Risk Specialists (SRS) provide deep technical expertise and applies judgement in specific risk disciplines as part of the PRA’s integrated supervisory approach, in order to identify, analyse and mitigate material risks to the safety and soundness of PRA regulated firms. These material risks can arise within and across firms and from the market environment. SRS is split into four main divisions: Credit Risk; Operational Risk & Resilience Division (ORRD); Risk Analytics, Liquidity and Capital (RALC); Traded Risk.

The Central Information & Strategy team is part of the SRS Director’s office. The team has been recently restructured to take a more influential role in developing SRS strategy and deliver against the Bank’s strategic objectives, to improve SRS engagement with its key partners, maintain good communication channels and facilitate the management of the Directorate through the provision and analysis of high quality MI. The team currently consists of 2.5 FTE and a senior manager. The Bank is creating 2 new roles to deliver on the team’s new role and responsibilities.

About the Role

The role will offer a wide range of opportunities given the large breadth of responsibilities of the team from a mix of project coordination to more focused analytical work. The jobholder will benefit from high visibility and exposure to SRS senior management including its Director and Executive Director. The role involves working closely with each division of SRS but also with other parts of the Bank.

Core responsibilities of the role:

  • Support the senior manager of the team to develop and implement SRS strategy and delivering the Bank’s strategic priorities.
  • Coordinate efforts of the Directorate to effect the strategic changes required and take forward the implementation of those recommendations in SRS.
  • Support engagement with Supervision including participating actively to improving the processes around the relationship.
  • Support rest of the team to respond to punctual requests.

Role Requirements

Minimum Criteria

  • Experience of supervision or supervising

Essential Criteria

  • Good analytical skills, including having proven track record to form a judgment based on a wide array of inputs;
  • Ability to understand business needs and translate them into effective solutions;
  • Excellent prioritisation, multitasking, time management, and organisational skills;
  • Effective communication skills and a high standard of written and oral English;
  • Work autonomously and with attention to detail;
  • Work with others and flexibly.

Desirable Criteria

  • Project management and planning skills;
  • Good knowledge of risks at the firms the PRA supervise;
  • An understanding of, or interest in learning more about risk management and SRS activities more broadly;
  • Ability to use data analytic and visualisations solutions such as Tableau.

Reward Package

The Bank of England is a distinctive institution and its rewards are one of the things that set it apart. As well as enjoying a competitive salary, you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.

The salary range for this vacancy is approximately £45,900 to £57,300, dependent on relevant skills and experience. In addition, the total reward package also includes:

  • A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through the Bank’s flexible benefits programme each year.
  • A discretionary performance award based on a current award pool.
  • A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
  • 25 days annual leave with option to buy up to 13 additional days through flexible benefits.
  • Private medical insurance and income protection.

About the Bank of England

As a place of work, the Bank feels different from most other organisations. The atmosphere is relaxed but professional, research-driven and also very much connected to real events in the economy. While organisations in the private sector are focused primarily on profits, the ultimate objectives for the Bank are always the quality of thinking and the rigour of analysis. This makes for an unusually satisfying place to develop your career. Whichever area of the Bank you join, you will almost certainly be working on high-profile and high-impact projects. The issues they deal with on a daily basis are often in the news headlines, and have implications for everyone in the country. For many of their people, this sense of contributing to the public good is one of the most rewarding aspects of working there.

They have a strong culture of support that exists within each of their teams and across the organisation as a whole.

The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability. The Bank values diversity and inclusion – they want to reflect the society they serve better, they want the best people to work for them and they want their workplace to be inclusive. They value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way they support diversity and inclusion is through their staff-run networks, which are summarised here.

The Bank is fully committed to having a diverse and inclusive working environment, and is open to considering how the role might be carried out with flexible working. This role is therefore open to flexible working patterns.

They are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support them in this. They are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

To apply

Please apply here, ensuring that you answer the application questions, complete the work history and submit your CV, as per guidance below.

Apply ASAP. The closing date for applications is 8 October 2021.

IMPORTANT: When completing your application:

  • For the ‘Source name‘ question it is essential you select ‘Women Returners’ so the Bank can identify you as a returner and know you are applying on a supported hiring basis.
  • Due to the anonymised application process followed by the Bank (detailed below) it is essential to include your career break with dates in your work history, in the area of online free form text.

The Bank anonymises applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete the application form questions as requested because incomplete submissions will not be reviewed.