The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people. 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 Banking Supervision directorate is 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 UK Deposit Takers Supervision Directorate (UKDT) supervises UK firms. The Authorisations, Regtech and International Supervision Directorate (ARTIS) supervises the international headquartered firms.

Department Overview

Within UKDT, the advertised roles sit across the following divisions:

1. The Large Mutual and Supervisory Specialists Division (LMASSD) which has three units with different responsibilities:

1. The Supervision Teams conduct prudential supervision of the largest Building Societies.
2. UKDT Specialists has three teams responsible for supporting supervision of Non-Systemic firms with specialist risks assessments in Capital, Liquidity & Asset Liability Management and Credit.
3. Technical Analysis and Supervisory Support look at UKDT-wide analytics, peer group data and industry communication.

1. The UK Mid-Tier to Large Banks (UMLB) Division which conducts front-line prudential supervision. The Supervision Teams conduct prudential supervision of the large Retail & Corporate banks that the PRA supervise, with the support of a wide network of technical specialists across the PRA.

As an organisation we strive to be approachable, pragmatic and outcomes-focused in our dealings with internal and external stakeholders. We foster an open, inclusive culture and working environment.

Job Description

Several exciting Senior Supervisor opportunities have arisen for those wanting to develop their expertise in the capital regime as it applies to the UK retail banking sector. Other similar roles may exist in ARTIS for which candidates may also be considered.

The roles provide good opportunities to produce high quality technical capital analysis on some of the highest profile large and small firms in the UK retail banking sector!

For example, the LMASSD Capital Assessment Team carry out SREP assessments by reviewing firms’ ICAAPs, run thematic stress test analysis, support potential new bank authorisations and engage on policy developments. UMLB capital supervisors analyse the capital position of the bank they supervise, develop and execute the supervisory strategy toward that firm and engage with senior personnel at the bank on capital issues.

Role Requirements

The successful applicants will work collaboratively across the Bank’s directorates to provide well-informed technical assessments. For example the jobholders will work on some or all of the following:

• Capital-SREPs which typically include a review of ICAAP and supporting materials, leading onsite or virtual visits, production of reports assessing the material risks to firms' capital positions, using quantitative and qualitative analysis and communicating findings to internal panels;
• Stress testing is an exciting thematic exercise! This may include work on large systemic firms’ annual cyclical scenario stress tests. Or it may be through internally developed tools to apply judgements and stress scenarios to the balance sheets of smaller firms. The work involves improving model methodologies, supporting key assumptions going into models and communicating key findings to senior Bank committees.
• Providing support to the newest banks seeking authorisations through specialist reviews of new business models, capital planning and treasury management. This involves preparing and/or giving constructive feedback to potential new banks to enable them to establish appropriate policies and procedures to operate as an authorised bank.
• Analysis of policy developments to identify potential consequences for firms before proposing and implementing solutions where risks are identified.

Minimum (Essential) Criteria

• Good prudential skills with supervision, banking capital and /or credit knowledge
• A good understanding of the broader macro environment and risks to banks' business models
• Ability to utilise analysis of firms’ financial risk management to form judgements and support the team to deliver potentially difficult messages to senior executives and directors
• Ability to produce clear and appropriate oral or written communication tailored to circumstances e.g. briefing colleagues to present or directly presenting at team meetings, senior managers meetings and directorate cascades
• Well organised, comfortable setting targets and delivering under own initiative, whilst ensuring the needs of key stakeholders are met
• Considerable drive, tenacity and focus with a track-record of delivering on objectives
• Good judgement and the ability to cover a wide variety of issues, focusing on key issues

Desirable Criteria

• A degree and / or relevant professional qualification
• Competence and curiosity about data skills and analysis e.g. R coding and Tableau (which can also be developed on the job)
• A proven track record of building relationships, influencing and working collaboratively with others

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.

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

Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. From 6 June 2022, we expect colleagues to spend a minimum of 40% of their working time in the office per month.  Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this.  We 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.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The Bank of England is a distinctive institution and our rewards are one of the things that set us 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.  

This specific role offers a base salary of £45,900 - £59,040 per annum, along with our comprehensive benefits package as follows:

•    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.
•    25 days annual leave with option to buy up to 13 additional days through flexible benefits.
•    Private medical insurance and income protection.