• Job Description

  Req#: 23899
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  The Bank of England is the UK resolution authority and is responsible for both the execution of resolutions when necessary and developing policy to make banks more resolvable both within the UK and internationally and to implement the resolution part of the post financial crisis agenda. The Resolution Directorate (RD) is a team within the Bank that performs that function.

  RD is responsible for carrying out the Bank’s function as the UK resolution authority to prepare for and, if needed, manage the failure of banks and/or other financial institutions. We are looking for a highly motivated, proactive and analytically minded person to join us and support the delivery of our work. If this sounds like you, please read on for more detail!

  RD is a dynamic area of about 100 people from a broad range of personal and professional backgrounds. We are fully committed to RD being a diverse and stimulating place to work, with plenty of opportunities to learn from colleagues and a wide range of situations. This commitment to diversity is also central to our recruitment process. This role can accommodate job shares and flexible working patterns. We also offer many opportunities for training and career development.

  Role Description

  We are recruiting a Lead Policy Analyst (Scale F) to work in RD’s CCP Resolution team, which is part of the Resolution Policy Division.

  The Central Counterparty (CCP) Resolution Policy team leads on the development, enhancement and implementation of the UK’s resolution regimes for CCPs. CCP resolution is a relatively new area of policy, and the team has a busy agenda implementing a new CCP resolution regime that came into effect in the UK at the end of last year. We also contribute to the development and implementation of international standards for CCP resolution (primarily through participation in Financial Stability Board workstreams) and perform resolution planning for UK CCPs.

  The role will be largely policy focused but there will also be opportunities for engagement with regulated firms (CCPs). The role will involve extensive opportunities for engagement with stakeholders internally within the Bank and with other UK and overseas authorities.

  RD works on an agile basis, with lots of working across Divisions at all times and potential opportunities for all RD staff to join contingency planning activities for the possible resolution of a given firm. RD staff therefore need to be flexible in their approach and open to taking on tasks and challenges outside of their immediate role description.

  Key responsibilities for this role will include:

  · Analysing/researching complex issues and developing proposals to present to senior decision-makers

  · Building relationships with internal (eg supervisors) and external stakeholders (eg HM Treasury, overseas authorities, firms) to understand their views and explain our positions

  · Supporting cross-RD work on the development and testing of CCP contingency planning material and arrangements

  · Responding to market and other developments so that our approach to ensuring readiness for resolution is kept up to date

  · Engaging with overseas authorities through Crisis Management Groups for CCPs (both UK and overseas) and in other internal policy for a

  · Engaging with firms to research and assess resolvability risks

  Role Requirements

  Minimum criteria:

  · Strong analytical skills evidencing ability to digest complex and potentially ambiguous information from a several sources to develop robust conclusions.

  · Ability to gain a good level of detailed technical knowledge and be able to apply this in practice in your day-to-day work.

  · Ability to work as part of a team and with internal and external stakeholders; building relationships, challenging constructively and understanding and managing diverse (and potentially conflicting) views and perspectives.

  · Ability to present information clearly and effectively both verbally and in writing and adapt communication to the appropriate audience, including at senior level.

  · Good organisational and time management skills, with ability to manage own time and prioritise effectively.

  · An interest in the UK resolution frameworks, and the aims and objectives of their implementation.

  Desirable criteria:

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

  · Relevant financial services experience, including an understanding of resolution regimes or CCP business models, operations and risk and control environments.

  · Existing technical knowledge in any of the following areas would be an advantage but is not essential for the role: clearing (or broader FMI activity); wholesale derivatives or capital markets; accountancy/auditing; crisis management; financial regulation.

  Subject to your consent, we may also consider your application for future roles across the directorate for a period of six months from when the job advert closes and share your details with the hiring teams accordingly.

  #LI-CF1

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  Our Approach to Inclusion

  The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.

  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.

  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 - £60,000 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 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. (Note that from April 2023 and for the Benefits year 2023/24, this will increase to 8%)
  • 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 23 March 2024.

  The assessment process will comprise of two stages.

  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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