Department Overview

Prudential Policy Directorate (PPD) 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 firms regulated by the Prudential Regulation Authority (PRA) and ensure appropriate protection for insurance policyholders. PPD supports both the Prudential Regulation Committee (PRC) and Financial Policy Committee (FPC) in fulfilling their objectives.

The Team

The Macroprudential Toolkit Development team is part of the Prudential Framework Division within PPD. We lead on the design, implementation and evaluation of macroprudential policies to mitigate systemic risk. Internationally, we support discussion of macroprudential instruments in a range of international committees. 

The team’s key responsibilities are:

• the developingment and implementingation of the FPC’s macroprudential tools on e.g. housing and capital buffers; 
• the designing and implementationing of frameworks for systemic banks; and
• the negotiationng of international standards for macroprudential policy.

Job description
We are looking for an enthusiastic Senior Research Assistant to join the Prudential FrameworkPolicy Strategy and Implementation Division. The role would be ideal for a candidate as a first step or move into a data and research oriented role, applying their knowledge in a real world setting,The role would be ideal for a candidate as an entry-level job after a first university degree, though we consider a wide range of different backgrounds.

The Senior Research Assistant will sit in the Macroprudential Toolkit team and provide research assistance to colleagues across the Prudential Framework Division
This is an exciting role that will provide you with the opportunity to gain in-depth knowledge of areas that lie at the heart of the Bank’s responsibilities, such as financial stability and prudential regulation. 
You should have a strong interest in the priorities of the Financial Policy Committee and Prudential Regulatory Committee, as well as the wider macroprudential policy agenda.
You should be able to work well in a team and be comfortable interacting with a wide range of stakeholders across the Bank. You will also be able to apply and expand your expertise in handling and analysing data, and become the main point of contact in the division for several key datasets.

As the job holder, you can expect to: 

• Support staff on the collection, cleaning, manipulating, visualising and analysing of datasets for policy analysis and research.
• Support staff with preparing notes and presentations to policy committees. 
• Build effective relationships with internal and external data providers.
• Provide assistance related to research projects.
• Assist on the training of research assistants within the division.
• Perform ad hoc assignments.

The role offers a variety of development opportunities and division-wide projects, depending on the skills and interests of the successful applicant.

Role Requirements
Essential Criteria

• BA in Economics, Finance, Data Sciences, or related field and/or equivalent combination of qualifications and experience.
• A desire to learn about financial stability issues and macroprudential regulation. 
• Experience in handling large datasets and presenting data effectively. 
• Good numerical/computational skills. 
• Excellent working knowledge of Excel, PowerPoint and Word. 
• Strong organisational skills and the ability to work independently. 
• Good communication and interpersonal skills. 
• An ability – or aptitude and willingness to learn – to produce analysis in R.

Desirable Criteria

• An understanding of the macroprudential policy agenda and financial regulation, including FPC and PRA objectives.
• Previous experience as a research assistant or research analyst.
• Experience using different data platforms (e.g. Bloomberg, Eikon).

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 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 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.

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 £28,050 - £32,000 per annum, 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.