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.

Join our award-winning legal team and work at the frontier of financial services to help maintain monetary and financial stability in the UK!  We are looking for new colleagues who are willing to learn quickly, engage openly and rise to the challenge. We share information and insights freely. The work we do here is challenging and sometimes demanding, but always rewarding! This – together with the commitment of our lawyers, paralegals and dedicated support staff - is what why The Lawyer and LexisNexis both named our Legal Directorate the In-House Legal Team of the Year 2022!

Department Overview

ELD leads on enforcement, contentious matters and litigation, serving the whole Bank. Our work includes high-profile enforcement cases, attracting national media coverage, crafting the Bank’s agenda on accountability and regulatory standards in a unique way. We are at the sharp end of some of the most challenging legal and reputational risks the Bank faces. The Division is also home to the Bank’s Intelligence & Whistleblowing Function (IAWB). ELD’s responsibilities include:

• Leading investigations and the imposition of any enforcement sanction within the Bank. It runs the investigative process from inception to recommendations concerning the appropriate sanction. It also runs any ‘settlement’ process and litigation should the matter be contested;
• Leading on all litigation (Courts or Tribunals) involving the Bank and the PRA, as well as third party civil litigation issues, assisting other prosecuting authorities, e.g. the Serious Fraud Office, with requests for information which the Bank may hold, and statutory investigations under the Financial Services Act 2012 or otherwise;
• Supporting the Bank more broadly in the development of policy and the potential use of formal supervisory powers in a contentious setting; and developing Bank enforcement policy.

Inclusive of ELD, the Legal Directorate is split into five main teams:

• Central Banking, 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; employment policy and employee relations matters; and the Bank’s financial and funding arrangements.
• EU & International, which provides legal advice on a range of trade and financial regulatory matters affecting the Bank including in connection with the UK’s withdrawal from the European Union.
• Enforcement & Litigation, which leads investigations and the imposition of any enforcement sanction within the PRA. It runs the investigative process from inception to recommendations concerning the appropriate sanction. It also runs any settlement process, and any litigation should a matter be contested.
• Financial Stability, which provides legal advice on the regulation and supervision of Financial Market Infrastructure (such as central counterparties, payment systems and securities settlement systems), on macro-prudential policy and regulation and associated legal framework for the Bank’s Financial Policy Committee and on the Bank’s role as the UK’s resolution authority.
• Insurance and Deposit Takers, providing legal advice to supervisors in relation to supervisory decision-making, and to policymakers in the PRA on capital, liquidity and other prudential requirements of banks, insurers, and investment firms.

We are also supported by a Strategy and Operations team, who work with Champions across the Legal Directorate to organise a rich and regular programme of legal training and ensure that we share our knowhow through our bespoke in-house legal wiki.

Job description

We currently have two permanent vacancies for Deputy Heads of Legal (DHOL) in the Enforcement and Litigation Division (ELD).

This is a people management role. You will contribute to management of the team and for defining roles and responsibilities. You will develop your team by sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated, including setting clear goals and stretching objectives. You will also be responsible for managing all staff-related matters that may arise including performance, absence, and sickness.

The focus of the DHoL is to contribute effectively and significantly to Divisional management, helping to shape and implement the Division’s priorities, ensuring the Division is positioned to support the Bank’s strategic priorities effectively. Another aspect will be to deputise for the Head of Legal contributing to the effective management of the Directorate. You will also act as a senior legal adviser in relation to the Division’s work and provide high-quality, dedicated line management to up to 4 lawyers.

Responsibilities include:

• Providing, and ensuring the team provides, high quality legal advice to relevant client areas.
• Acting as an alternate for the Head of Legal at senior committees and senior internal/external meetings. Acting as the lead legal adviser at Executive Director chaired committees/meetings.
• Assisting the Head of Legal in providing budget oversight and ensuring budget discipline.
• Using strong technical knowledge and judgement to input and guide on the full range of workstreams, including advice to business from stakeholder Directorates to General Counsel (including working with external counsel and other authorities).  
• Working together with the Managers in ELD to provided leadership in the management of the Division (a team of c. 30 colleagues) and contributing to developing a strong, focussed, involved, inclusive and in-step Legal Directorate.
• Maintaining, and seeking opportunities to enhance relations with relevant business areas.
• Directly line managing a team of up to four lawyers/investigators, demonstrating effective delegation whilst providing support and guidance to team members.
• Observing the Bank's record management protocols within effective legal risk management.

Number of direct reports: up to four

Role Requirements

Minimum Criteria

• An experienced and qualified lawyer.
• Experience in providing advice to senior internal decision-makers.
• Ability to provide concise, client-focused advice while managing legal risk, particularly under time pressure, constrained resource and in the context of fast moving events.
• Experience effectively representing a team/division, building relationships with stakeholders.
• Experience with providing team leadership and successful people management.
• Experience of mentoring, coaching or supporting team members and other colleagues.

Essential Criteria

• Proven ability to deliver through people.
• Excellent legal analytical skills.
• Excellent legal risk awareness, evaluation and management skills including a firm grasp of the institutional and context in which we operate.
• Proven ability to act as a trusted legal adviser for senior executives and officials.
• Strong project and budget management skills.
• Demonstrable commitment to role-modelling the Bank’s values in all aspects of behaviour.
• Demonstrable commitment to ensuring that the legal advice and outputs of your team meet the appropriate standards of excellence.
• Self-awareness identifying areas for personal development, addressing them proactively.
• Excellent oral and written communication skills.
• Ability to engage effectively with colleagues from Bankwide, both on the policy and legal side.
• Ability to develop expertise in new technical areas, seamlessly, and to a high standard.
• Enforcement and/or litigation experience.

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.

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.

We are also committed to making workplace adjustments for all of our employees as needed, and also for candidates throughout all stages of the selection process. We are a member of the Disability Confident scheme, summarised, 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.

Reward Package

The salary range for this vacancy is approximately Â£90,000, dependent on relevant skills and experience. In addition, the total reward package also includes: 

• 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.