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. Do you love building relationships with colleagues and working with a wide range of people? Are you organised, proactive and able to manage events or projects to achieve good outcomes? Do you enjoy communication with internal and external colleagues and partners? Are you interested in contributing to the safety and soundness of the UK's retail banks and working for the good of the people of the United Kingdom? If yes, then we may have the role for you! Department Overview
UK Deposit Takers supervision directorate is responsible for the supervision of over 600 banks, building societies and credit unions. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision.
Within UKDT, the Large Mutual and Supervisory Specialists Division (LMASSD) has three different units:
- UKDT Specialists - three specialist teams covering capital, liquidity and credit risk supporting supervision of non-systemic UK deposit takers.
- Technical Analysis and Supervisory Support (TASS) - responsible for UKDT wide analytics, peer group data, industry communication and regulatory policy initiatives.
- Supervision - responsible for Prudential supervision of the UK's largest Building Societies
UKDT believes in diversity. We define diversity as both who we are (identity diversity, such as gender or ethnicity) and how we think (cognitive diversity). We are actively seeking the benefits of having a range of backgrounds and characteristics in our teams. Diverse teams are more inclined to consider novel ideas and challenge each other, enabling them to infer cause and effect and to solve problems better and thereby help us to better achieve our mission. Diversity does not mean ticking boxes, it means ensuring we are best able to fulfil our mission of promoting the good of the people of the UK by maintaining financial stability. Job Description
A junior analyst role in the central cross firm team within UKDT offers a varied and flexible opportunity and is ideally suited to someone who enjoys a mix of project coordination, event organisation, communication, and analytical work.
The core of the role is a portfolio of i) coordinating written communications products - both with UKDT supervisors and to supervised firms; and ii) organising events - primarily two conferences a year. And depending on the skills and interests of the job holder there is scope to get involved in supervisory projects across the breadth of UKDT and also in the full range of work within TASS supporting the whole of UKDT to deliver first class supervision - this includes the UKDT risk committee, data analytics, horizon scanning, and risk identification.
This role involves working closely with other Bank of England departments (including Prudential Policy, Resolution Directorate, Financial Stability, International Banks Supervision, Markets, Supervisory Risk Specialists, and Governors' offices), and UKDT teams, specialist hubs and working groups on a regular basis as well as occasionally with industry bodies including UK Finance and the Building Societies Association.
The role will also involve supporting the wider TASS objectives and require occasional support for or leading on the production of papers and presentations.
Key responsibilities include;
- Lead on a portfolio of UKDT outputs and projects by connecting supervisors, senior management and wider Bank departments in the process. This includes:
- event organisation - principally the coordination of the annual non-systemic firms' CEO conference and of the annual non-systemic firms' Chairs' conference. This is the main communication channel for UKDT Supervision with the non-systemic banking sector in the UK and has the Governor and Deputy Governors participating;
- the weekly coordination and drafting of the 'UKDT weekly note' - a summary of all events of interest occurring in the c.600 supervised firms over the previous week - for an audience of senior staff and supervisors;
- the monthly coordination and drafting of the non-systemic firm Regulatory Digest - email communication to c110 non systemic firms;
- organising and chairing a fortnightly training/information sharing forum, designed to keep UKDT Supervisors up to date on the latest regulatory policy developments, trends in the banking market, or other areas of interest;
- monitoring the TASS inbox (on a rota basis) - answering, or finding the right person to answer, queries from across Supervision and the Bank on UKDT;
- other regular / ad-hoc coordination of UKDT/TASS projects.
Depending on the skills and interests of the job holder there is scope to get involved in supervisory projects across the breadth of UKDT and also in the full range of work within TASS supporting the whole of UKDT to deliver first class supervision - this includes data analytics, horizon scanning, and risk identification. Role Requirements
Essential (minimum) criteria
Desirable (but not essential) criteria
- Excellent prioritisation, multitasking, time management, and organisational skills;
- Experience of building relationships or establishing links across teams or departments;
- Effective communication skills and a high standard of written and oral English;
- An ability to work autonomously and with attention to detail;
- An ability to work with others and work flexibly as part of a team.
- Project management and planning skills;
- Experience of building relationships with more senior staff or senior management;
- An understanding of, or interest in learning more about Banks, Building Societies, Credit Unions and the UK Banking market;
- An understanding of, or interest in learning more about supervisory activities and how UKDT Supervision interacts with other areas of the Bank and PRA.
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.
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. Successful applicants will also be entitled to a pro-rated Benefits+ allowance.
The salary range for this position is £28,050 - £32,000 per annum (dependent on skillset 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.
The closing date for applications is 9 August 2021. Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.