Directorate Overview

The Bank of England is the UK's central bank.  We 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 issues we deal with every day are often in the news headlines, and have implications for everyone in the country. For many of us, this sense of contributing to the public good is one of the most rewarding aspects of working here. The atmosphere is both friendly and professional and you can expect lots of support from your colleagues.

About FSSR 

The Bank’s Financial Stability Strategy and Risk (FSSR) Directorate works towards a financial system that serves households and businesses.  We are responsible for helping the Financial Policy Committee (FPC) identify cross-cutting risks to UK financial stability, assess the resilience of the UK financial sector and develop policy solutions to ensure UK financial stability. To find examples of our past work and what we are currently focused on, have a look at the most recent Financial Stability Reports.

Sitting within FSSR, the Macroprudential Strategy and Support Division (MSSD) supports the Financial Policy Committee (FPC) in making and communicating its decisions. 

MSSD’s work is structured into three areas: developing the macroprudential framework and providing advice on policy strategy to the FPC; providing Secretariat support to the FPC, and advising external FPC members; and authoring the FPC’s flagship quarterly publications, including the Financial Stability Report.  Our work therefore is at the heart of helping the FPC to maintain financial stability in the UK.

Job description

As the successful applicant you will work alongside the other Senior Manager* in leading the FPC Secretariat as it supports every aspect of the Committee’s work.  Together, you’ll ensure the FPC process is seamless (no matter what unexpected issues arise), that the Committee has everything it needs to make its decisions and that your colleagues around the Bank (and at the FCA and HMT) are supported and guided as they deliver their analysis.  There is lots of scope at the moment to innovate and improve how the FPC operates so your creativity, practical nature and problem-solving abilities will come in very useful.

This is a people management role. You will be responsible for day to day management of members of the FPC Secretariat and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area’s aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. In particular, you’ll draw on your previous experience and excellent judgement to guide and support your team as they act as ‘advisers’ to the FPC external members on all aspects of the Committee’s work and strategy; and as ‘topic partners’ to help colleagues and teams right across the Bank generate maximum impact and engagement when they bring their work to the FPC. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness. 

Your day to day tasks will involve lots of senior stakeholder engagement.  You’ll regularly work with and advise the FSSR Executive Director, Director and Senior Leadership Team as well as the Governors’ private offices.   And you’ll build great working relationships with the FPC members and your counterparts in the FCA and HMT.  

You’ll also be a member of the MSSD Senior Leadership team and have a say in how the whole Division is run. 

This role is ideal for part-time staff as it can equate to around a 3 - 4 day working pattern (but it is open to those on full-time patterns too).

* This is not a job-share arrangement.  There is clear delineation of responsibilities and direct reports but the two Senior Managers of the Secretariat function work closely together to deliver a high quality holistic Secretariat function.  

Requirements for role

To apply, you don’t need to be a trained economist. You do need to be enthusiastic, willing to learn, have a practical approach and be committed to working with colleagues to improve diversity and inclusion at the Bank. You will be genuinely interested in the work of the FPC and feel excited by the opportunity to contribute to ensuring that the UK financial system can serve UK households and businesses.

Minimum criteria:

• Track record of leading and supporting Diversity and Inclusion initiatives and encouraging others to do the same.
•  The ability or potential to develop, build and manage diverse and inclusive teams, including through providing excellent feedback and investing in others.
• Have really sound judgement, including the ability to pre-emptively identify and manage risks and know when to escalate issues.
• Successful focus on delivery, with the ability to balance competing deadlines and priorities while working under pressure.
• Have significant experience of getting decisions made in organisations like the Bank and/or working with private offices.
• Be able to present information clearly, confidently and effectively across seniority levels.
• Find developing and maintaining effective working relationships across a wide group of stakeholders and levels of seniority a natural part of the way you work.

Desirable criteria:

• Experience of working on macroeconomic or financial policy issues
• Be able to demonstrate linking individual developments to the bigger picture and strategic objectives.

#LN-DP1

 

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.  

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 , 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 £74,400 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.