Applications have now closed

Location: London, UK

Start Date: Early 2021

Programme: Supported hire into permanent roles with flexible working

Closing date for applications: 9 November 2020

The Bank of England’s Legal Directorate is partnering with Women Returners to seek qualified barristers or solicitors who would be interested in a permanent opportunity as a Legal Counsel with the Bank. There are two vacancies available in the Insurers & Deposit Takers Division (IDT) and the Central Banking Legal Division (CBL) of the Legal Directorate.

The Bank of England welcomes professionals who have taken an extended career break to apply for these permanent roles. Successful hires who have taken a career break of 2+ years will receive coaching support through the transition period from Women Returners. You may have taken time out for childcare or eldercare, for relocation, or for other reasons. You may have been working on a small-scale basis to fit around your other commitments or have not done any paid work for a number of years.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. Flexible working options are available, including part-time working

The Bank has hired a large number of returners over the last few years. Read Melissa’s story of returning to law at the Bank here.

About the Legal Directorate

The Legal Directorate performs a wide-ranging legal advisory and support role for the Bank of England. It works closely with business areas across the Bank and the Prudential Regulation Authority on a wide range of key UK and international issues, covering areas such as current and prospective UK and EU legislation, banking and market operations, financial stability, prudential regulation and supervision, financial market infrastructure supervision, resolution, enforcement and litigation.

The Legal Directorate usually provides legal advice in-house, but engages external counsel as necessary.  It comprises a General Counsel and approximately 140 other staff; and is fully supportive of part-time and flexible working. For a closer look at the work of the Legal Directorate, take a look at their Careers Brochure.

About the Roles

Working in the Bank’s Legal Directorate is quite different from working in a law firm. Not only will you be working as part of an in-house legal team, but you will need to develop a firm understanding of effective decision making in a public law context. The Bank recognises that new joiners will not have direct experience of many of the legal issues which they span on a daily basis and they will provide training and support for unfamiliar areas. Rather than seeking legal experience within a specific discipline, what matters most is a willingness to learn quickly, engage openly and rise to the challenge.

  • As a Legal Counsel in the Insurance and Deposit Takers (IDT) division, you will help provide legal advice to supervisors in relation to supervisory decision-making, and to policy-makers in the PRA on capital, liquidity and other prudential requirements of banks, insurers and investment firms. For this role the Bank is seeking someone who is a qualified barrister or solicitor with typically 1 to 4 years’ PQE, although all suitably qualified applicants will be considered. You will also have some experience of advising on public law in a regulatory context or financial services law, and awareness of the legal issues faced by financial institutions.
  • As a Legal Counsel in the Central Banking (CBL), which provides legal advice on the Bank’s constitution and governance; Markets and Banking operations; commercial contracts, procurement and intellectual property; notes procurement, production and distribution; data and information management; and the Bank’s financial and funding arrangements. For this role the Bank is looking for someone who is a qualified barrister or solicitor, ideally with at least 5 years’ PQE. Experience from a variety of subject areas such as finance, regulatory, commercial, corporate, tax, commercial litigation, insolvency or restructuring will be considered.

Roles will in normal circumstances be located in the Bank’s London offices at Threadneedle Street and Moorgate, however due to Covid-19 most staff are currently working remotely. This is being kept under review as the situation evolves.

Salary and Benefits

As a unique institution, the Bank of England offers a competitive reward package. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. The Bank also offers a working environment which fully supports individuals through flexible working, as well as wellbeing initiatives including an on-site medical and dental unit.

Recruiting at two levels of experience, the respective opportunities offer a base salary of either £45,900 – £60,300 for the vacancy in IDT or £59,400 – £81,000 for the vacancy in CBL, depending on your level of skills and experience.

In addition, the total reward package also includes:

  • A non-contributory, career average pension
  • 25 days annual leave with option to buy up to 13 additional days through flexible benefits
  • Private medical insurance and income protection insurance

About the Bank of England

The Bank of England is the UK’s central bank and a diverse organisation. Each of its 4,000 plus employees are committed to public service and dedicated to deliver the Bank’s mission to promote the good of the people of the United Kingdom through maintaining monetary and financial stability. Protecting the nation’s insurance policyholders is a vital job.

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. 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.

The environment is extraordinary too: a historic building located in the heart of the City, which combines rich tradition with up-to-date technology and facilities. Just as importantly, they have a strong culture of support that exists within each of their teams and across the organisation as a whole.

How to Apply

For more information on each role and to apply, please access the links below:

Legal Counsel – Insurance & Deposit Takers

Legal Counsel – Central Banking Legal

Application deadline is Monday 9 November 2020.

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 work history and the application form questions as requested because incomplete submissions will not be reviewed.