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.

Prudential Policy Directorate are responsible for designing, negotiating internationally and implementing effective prudential regulation in order to remove or reduce systemic risks, promote the safety and soundness of PRA-regulated firms and ensure appropriate protection for insurance policyholders. PPD supports both the Prudential Regulation Committee and Financial Policy Committee in fulfilling their objectives.

Department Overview

The Prudential Policy Directorate are responsible for designing, negotiating internationally and implementing effective prudential regulation in order to remove or reduce systemic risks, promote the safety and soundness of PRA-regulated firms and ensure appropriate protection for insurance policyholders. PPD supports both the Prudential Regulation Committee and Financial Policy Committee in fulfilling their objectives.

The Prudential Policy Directorate is one of the key policy functions within the Bank of England, reporting to the Deputy Governor for Financial Stability and the Deputy Governor in charge of the Prudential Regulation Authority.

Within this, you would take up a role in the Strategy and Policy Approach Division. We work to set the overall strategy and approach for prudential policymaking in line with the PRA’s vision for accountable, dynamic and accessible regulation, as well as supporting PPD on the identification, selection and implementation of policy priorities and delivering PPD’s broader international strategy and co-ordination (including around equivalence and Memoranda of Understanding).

Job description

Now that the UK has left the European Union, the UK has regained powers to design prudential policy. Under the Government’s proposals for the Future Regulatory Framework, the PRA will be responsible for setting the details of the prudential policy regime. The Policy Vision and Approach team is responsible for designing the PRA’s new approach to policymaking. It is an exciting opportunity to consider how the PRA designs, implements and communicates policy. This includes shaping how the PRA pursues its objectives and takes into account its ‘have regards’, as well as how the PRA influences and implements international standards. There isn’t a ‘set answer’ for this work, so there is plenty of scope to shape how the UK approaches prudential policy for years to come.

The successful applicant will be joining a collaborative, friendly supportive team with interests ranging across all the key aspects of prudential policy. Our work is ground-breaking, high profile and exciting.

You will:

• Support work to design the PRA’s approach to policy making under the Future Regulatory Framework, leading on specific workstreams within the wider work programme. This will include contributing to the drafting of a planned consultation paper.
• As a lead policy analyst, you will be responsible for leading work to update internal processes, and practises, to reflect our new approach to policy. The team works on a range of high profile and new workstreams. There is significant scope for the successful applicant to shape the PRA’s new approach to policy-making. This includes supporting the establishment of a new senior committee session focussed on policy prioritisation, by working with colleagues across policy and supervision. It also includes evaluating and updating the PRA’s approach to its ‘have regards’ legal requirements to reflect the Future Regulatory Framework, including by delivering training.
• Stand ready to work flexibly to progress wider team priorities, including work to transfer the European ‘acquis’ into PRA rules and horizon scanning of future risks.
• Across these workstreams, work collaboratively both internally and externally, and provide verbal and written advice to senior management to support decision making.

The role would suit someone who is:

• comfortable picking up new topics quickly;
• comfortable challenging how things are currently done;
• proactive and collaborative;
• able to work constructively with specialists and provide appropriate challenge; 

The role is based in Threadneedle Street and your job title will be Lead Policy Analyst.

Role Requirements

Minimum Criteria

• Good knowledge or experience of financial services or public policy gained through role(s) held in the financial services industry, regulators, government, or third sector.

Essential Criteria

• Demonstrates strong written and verbal communication.
• Able to build and maintain positive relationships.
• Able to balance and prioritise between multiple demands.
• Strong analytical skills.
• Proactive, taking ownership for outcomes.
• Collaborative, working with others to deliver.
• Strong communicator, able to explain technical material in an accessible way.
• Committed to advancing the Bank’s work to become a more diverse and inclusive workplace.

Desirable Criteria

• Understanding of the financial services regulatory framework

You should not be put off from applying if you do not meet or do not have all of these criteria. We have extensive support and training for team members, particularly new joiners, to support development.

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.

Our commitment to diversity and inclusion

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.  This is something we strongly endorse and encourage in Prudential Policy, and all colleagues in our team have specific and actionable objectives related to promoting diversity and inclusion.

This role is open to job shares, flexible and part time working patterns. 

We are also committed to making adjustments for candidates and employees where possible, and we have partnered with external expert organisations to support us in this.  We are a member of the Disability Confident scheme, summarised. 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

Reward Package

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.  

The salary range for this vacancy is approximately Â£45,900 to £59,000, 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.