• Job Description

  Req#: 23539
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  The PRA’s Banking Supervision directorates are responsible for the supervision of over 600 banks, building societies and credit unions. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision. The Authorisations, RegTech and International Supervision (ARTIS) directorate supervises the international headquartered firms.
  
  The ARTIS directorate comprises of the following divisions:

  · Authorisations – which deals with regulatory transactions with firms applying to carry out PRA regulated activities, or make changes to the activities they current undertake;

  · RegTech, Data and Innovation (RDI) – charged with enabling the PRA to harness the full power of its data; and

  · International Banks Supervision - four divisions responsible for the supervision, as a host regulator, of the UK activities of international banks, custodians and designated investment firms headquartered in over 50 overseas jurisdictions – including some of the world’s highest profile firms.

  We are hiring for a role within one of the four supervisory divisions, the Cross-Firm Analysis and Supervision Division (CFAS). CFAS plays a central role within ARTIS: engaging with the development and implementation of prudential policy; leading on risk identification and thematic work; providing specialist expertise, training, data, and peer analysis; supporting and delivering in-depth capital, liquidity, and credit reviews; and supervising of Japanese, Australian and Canadian firms.

  
  Job Description

  We are looking for someone to join the Policy Implementation & Engagement (PIE) team primarily to support ARTIS in its engagement with, and implementation of, data-related prudential policy.

  Data Risk is a PRA 2024 priority for international banks supervision. Key among the long-term reforms the PRA is making are changes in how we collect data as part of the Transforming Data Collection Programme, and on which data we collect as part of the Banking Data Review (BDR).

  The BDR will see the PRA consult on a review of banking data collections, through regulatory reporting, with a view to: (i) better alignment of reporting with supervisory needs; (ii) better integration and streamlining of reporting; (iii) ensuring we have the data we need for future policymaking under the FRF. This is a multi-year review, broken down into different phases and modules, some of which are currently going through the ‘design’ stage before ‘consultation’ with industry.

  We are looking for an enthusiastic member of staff with experience or willingness to learn the detailed technical aspects of relevant prudential policy and data issues in financial regulation. The role will require effective engagement with a wide range of stakeholders within ARTIS and the PRA more broadly (including UKDT, Prudential Policy, and Supervisory Risk Specialist directorates).. The jobholder will help influence change within the directorate, supporting improvements to supervisory processes and their implementation, by acting as a representative at intra- and inter-directorate working groups.

  The role will also see the successful candidate support the PIE team in its broader mission of engaging across the prudential policy pipeline at all stages of the policy making process. This will include staying informed of the evolving banking policy landscape, providing high quality briefings and advice to senior leadership, and maintaining a strong network of policy contacts across the Bank.

  Role Requirements

  The successful candidate will likely demonstrate most of the essential attributes and experiences. But please don't be put off applying if you don't think you have everything on the list, we still want you to apply!

  Minimum (Essential) Criteria

  · Experience of in at least one of: financial regulatory supervision, public policy development and implementation, or project management of complex business/IT processes.

  · Able to build and maintain effective relationships with internal stakeholders. Including ability to manage conflicting views, build consensus and challenge where necessary.

  · Able to present complex technical information (verbal and written) clearly and effectively across seniority levels, and to adapt communication to the audience.

  · Track record of managing and delivering complex workstreams under time pressure.

  · Curiosity about data and analysis, and a drive to develop related skills.

  
  Desirable Criteria

  · Combined experience and/or understanding of financial regulatory supervision, public policy development and implementation, and/or project management.

  · Experience with and/or understanding of regulatory capital requirements, credit and market risk measurement, and the data used to monitor it.

  · Knowledge of, and experience working with, financial regulatory returns.

  · A degree and / or relevant professional qualification.

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  Our Approach to Inclusion

  At the Bank of England we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.

  We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.

  For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.

  The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

  Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

  Salary and Benefits Information

  This specific role offers a base salary of circa £52,730 - £60,840 per annum (depending on skills and experience) on a full-time basis. We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.

  In addition, we also offer a comprehensive benefits package as detailed below:

  • 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 our flexible benefits programme each year.
  • A discretionary performance award based on a current award pool.
  • A 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
  • 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
  • Private medical insurance and income protection.

  National Security Vetting Process

  Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice

  The Application Process

  Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

  The closing date for applications is 15th March 2024.

  The assessment will comprise two stages: a written exercise and an interview. We expect to conduct interviews across February and March and can discuss in person / online requirements.

  Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.

• About the company

  The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based.

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