**Applications are now closed**

Location: London, Threadneedle Street

Opportunity: Supported hiring, with flexible working

Apply by:  26 July 2021 

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

The Bank is recruiting for a number of supervisors and senior supervisors, without line management responsibilities, across the UK Deposit Takers Supervision (UKDT) Directorate in the Prudential Regulation Authority (PRA).

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. 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.  These roles are 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 roles

The PRA has a statutory objective to ensure the safety and soundness of firms and to avoid disorderly failure which has systemic consequences. One of the ways they do this is through judging whether firms are safe and sound, and whether they meet, and are likely to continue to meet, the PRA’s Threshold Conditions. Supervisors therefore need to reach judgements on the risks that a firm poses to the PRA’s objectives and how to address any shortcomings.

UK Deposit Takers Supervision (UKDT) is responsible for the supervision of over 600 banks, building societies and credit unions. The firms they supervise are varied and result in different types of supervision; from some of the world’s highest profile banks which would typically have a team of supervisors for one firm, to large numbers of smaller banks, building societies and credit unions which are supervised on a portfolio basis with one supervisor typically responsible for several firms.

They are recruiting for a number of supervisors and senior supervisors, without line management responsibilities, across the Directorate.

What does the job involve?

Delivering the supervisory strategy and implementing the PRA’s approach to firm assessment, which includes the continuous assessment programme. Identifying risks within the firm and devising strategies to mitigate them typically includes:

  • Working with the manager to shape a programme of risk assessment work
  • Dealing with a portfolio of issues ensuring progress by the firm on specific risks and issues that have been identified through our review work
  • In partnership with the PRA’s risk specialists, deliver assessment of the firm’s capabilities
  • Assessing the viability and sustainability of a firm’s business model and the risk profile it presents
  • Assessing a firm’s risk management and controls

As a Supervisor you will:

  • Prepare for, participate in and often lead firm meetings, which are regularly at senior management level
  • Use your analysis to make forward-looking judgements and recommendations
  • Scope, plan and implement a programme of on-site assessment work, often leading the review or meeting
  • Analyse regulatory data and a firm’s own management information
  • Produce clear and concise briefings to senior managers on key issues
  • Take clear and concise minutes at meetings to a high standard
  • Ensure proactive use of, and compliance with, our internal information management systems
  • Build and maintain effective relationships with the firm, overseas regulators and the FCA to achieve firm-specific and thematic aims
  • Contribute to the development and implementation of policy, for instance by joining local networks or working groups

Role Requirements

Essential:

  • Pro-active and well organised – able to identify issues, come up with solutions and run multiple workstreams
  • Strong analytical skills – able to analyse complex issues, including operational and financial information, and to pull out key drivers quickly
  • Excellent communication skills – able to produce clear and appropriate written communication tailored to the circumstance
  • Good judgment and an analytical mind-set
  • Strong stakeholder management
  • Be comfortable handling, interpreting, and drawing conclusions from complex data
  • Good judgement and ability to work under pressure
  • Able to work both as part of a team and autonomously
  • Able to prioritise and to challenge constructively

Desirable: (please do not be put off from applying if you do not have experience in the below)

  • Financial experience is an advantage with a basic understanding of banks’ operations and risk and control environments
  • An understanding of the relevant business areas and an interest or background in risk management would be helpful but is not critical

Reward Package

As a unique institution, the Bank has a reward package which sets them apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. They also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.

These roles offer a FTE base salary of between £35,000 and £57,000 (depending on the role and skillset) plus benefits.

The total package includes:

  • A non-contributory, career average pension
  • A discretionary performance award
  • A 7% benefits allowance
  • 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

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.

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.

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.

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 26 July 2021.

If you have any questions, please email Jo Ogilvie on Jo.Ogilvie@bankofengland.co.uk

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

The Bank continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Their focus on inclusion is intended to build greater diversity in order to reflect the society they serve and be an employer of choice.