Directorate Overview

At the Bank of England, we protect everyday life in the UK. We ensure that financial services are safe, inflation is stable and systems are secure. Our Banking and Insurance directorates supervise over 1500 firms, so they’re crucial to this. And now, we’re looking for motivated people to join us and take on incredibly impactful and rewarding work. Better yet? You don’t need any banking or financial experience.

Job Description

When you join, you’ll take on varied and high-profile work. It’s an exciting role to take on, as you’ll have many different responsibilities. You’ll focus on anything from the newer firms who have a more innovative approach, through to some of the larger banks and insurers. That includes organisations like Aviva, Barclays, Virgin Money and JP Morgan. (And that’s naming just a few.)

Role Requirements

Day-to-day, you’ll use your analytical skills to deliver assessments and understand any risks these firms might pose. To do this, you’ll interact with firms and build an understanding of how they work. And when things don’t look quite right, you’ll investigate issues and dig deeper.

Plus, you’ll share your findings with the wider internal team and work closely with senior leaders across the UK and international financial firms. Everything you do will help to ensure our supervisory strategy is being implemented. The mixture of high-profile work and complex issues means you’ll have plenty of opportunities to develop both your technical and interpersonal skills. 

We’ll match you to a role that builds on your strengths. So instead of having specific experience, you’ll need to be curious, ready to learn and keen to share ideas. You’ll enjoy analysing problems and be open to discussing and debating issues. All of this will lead you to investigate different issues and make good judgements. And with plenty of self-motivation and initiative, you’ll be able to set your own targets and work to deadlines. Importantly, you’ll have the ability to manage different stakeholders and influence both people and decisions.

Minimum Criteria

• Pro-active, strong analytical skills, ability to communicate with credibility in front of internal and external stakeholders
• Effective relationship management, including an ability to influence senior colleagues

• Able to work independently as part of a team, coach more junior colleagues and to challenge constructively by bringing a diverse set of views and perspectives.
• Existing financial services experience or a demonstrable motivation to learn about Financial Services
• Ability to draw reasonable conclusions from a range of financial information and recommend appropriate remedial action
• Commercial awareness and an understanding of the impact of external factors and industry trends.
• Excellent organisational skills to proactively prioritise and manage workload.
• Excellent interpersonal skills to be able to build and maintain relationships with colleagues and external stakeholders.
• Ability to produce clear, concise and structured written communication tailored for different audiences

We welcome applications from individuals who have experience, or transferable skills, from a previous role, where you can demonstrate the ability to use analytical skills to apply judgement or influence a stakeholder.

Desirable Criteria

One or more of the following would be particularly welcome:

• Existing financial services experience at a PRA regulated Firm or public sector organisation
• Relevant professional qualifications (e.g. CFA, FRM, ACCA etc.)
• Existing academic or work experience in a regulation or policy making
• Data analytics skills (e.g. Tableau, R, Excel etc.)

You should not be put off applying if you do not meet/ have all of these criteria – we would encourage you to get in touch to discuss what support you might need to close any gaps and/or any other skills you might have which you think could be helpful in role.

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 between £45,900 and £59,040 per annum (depending on the role), 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.