Policy Analysts - Resolution Directorate

Policy Analysts - Resolution Directorate

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 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.

The Bank is the UK resolution authority and is responsible for both the execution of resolutions when necessary and developing policy to make banks more resolvable both within the UK and internationally and to implement the resolution part of the post financial crisis agenda. The Resolution Directorate (RD) is a team within the Bank that performs that function.

Department Overview

RD is a highly dynamic area of around 100 people from a diverse range of personal and professional backgrounds. We welcome a variety of experiences including policy analysis, supervision, central banking, economics, professional services and accounting, law, banking, credit rating agencies, and finance ministries. Our team reflects the broad range of issues we confront. This makes it a stimulating, enjoyable and exciting place to work, and one where it is possible to learn rapidly from a wide range of colleagues and situations.

The Resolution Policy Division leads on policy issues across its three teams: MREL & Liquidity; Continuity & Restructuring; and Non-banks (CCPs and insurers). The Division’s primary role is to design, develop, influence and help implement improvements to the UK’s resolution regimes. Resolution issues are often new and exciting and demand a broad skillset - which we support our staff to develop. Identifying and agreeing solutions requires intellectual agility, the ability to see the points of view of others and influence them, and a willingness to hold firms and other stakeholders to account.

We are fully committed to having a diverse and inclusive working environment and we support our staff in structuring their working arrangements to balance their work-life needs. Roles are open to job shares, flexible (including working from home days) and part-time working patterns.

The RD supports our staff in seeking relevant professional qualifications (i.e. accountancy, CFA etc.) via the apprenticeship scheme supported by the Bank.

Job Description

We are recruiting for Policy Analysts (Scale F or Scale G) in the Resolution Policy Division: one role focused on liquidity work in the MREL & Liquidity Team; and the other role focused on valuation work in the Continuity & Restructuring Team. Despite the primary focus of the roles, the Policy Analysts will have plenty of opportunities to work on other policy issues under the purview of their respective teams, including MREL issues in the MREL & Liquidity Team and operational continuity in resolution, contractual stays, etc. in the Continuity & Restructuring Team.

Scale G Policy Analysts typically have a few years’ relevant experience, while Scale F Policy Analysts are more experienced professionals who are expected to take ownership for tasks and apply judgment in supporting projects.

You may apply for either or both roles, and you will be able to express a preference between the two at interview.

Key responsibilities of the role will likely include:

• Analysing/researching policy issues and developing proposals to present to senior decision makers.
• Drafting and inputting to key documents for senior Bank staff, senior Bank committees and public communications.
• Coordinating contributions from others across the Bank
• Support your line manager, senior manager and others of the RD when they are representing the Bank on resolution policy issues in international fora (e.g. FSB) or engaging with overseas authorities.
• Building relationships with internal (eg. supervisors) and external stakeholders (e.g. HM Treasury, overseas authorities, firms) to understand their views and explain our positions.
• Support other workstreams within the Resolution Policy Division or the wider RD as required.

Role Requirements

(Please do not be put off from applying if you do not meet all the criteria in the below)

Minimum Essential Criteria

• Strong analytical skills evidencing ability to digest complex information from a number of sources to develop robust conclusions.
• Ability to work as part of a team and to challenge constructively by bringing a diverse set of views and perspectives.
• Agility to work on multiple projects and ability to work at pace if needed.
• A demonstrable ability to think clearly and critically.
• Ability to make good judgements and decisions which can be explained concisely.
• Ability to present information clearly and effectively across seniority levels and adapt communication to the appropriate audience.
• Ability to build and maintain effective relationships with internal and external stakeholders, including the ability to manage conflicting views.
• Ability to manage competing priorities.
• At least two years’ relevant experience.
  

Desirable Criteria

• Relevant financial services experience including an understanding of banks’ businesses models, operations and risk and control environments; or accounting and finance.
• Knowledge of financial regulation especially capital and/or liquidity, UK’s resolution regime, FSCS/deposit insurance, or supervision.
• Experience of analysing/ researching policy issues, developing policy approaches and frameworks, or engaging with domestic or international policy makers.
• An academic or professional qualification in any of the following areas will be an advantage: accounting/ finance; economics; or law.

Additional Information

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 roles offers a base salary range of £36,860 - £60,000 per annum (depending on skills and experience and level) on a full-time basis.

In addition we also offer a comprehensive benefits package as detailed below. We encourage flexible working & part time working , therefore both salary and associated benefits will be adjusted on a pro-rata basis for part-time colleagues

• 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 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 26 days annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.

Employment in this role will be subject to National Security Vetting clearance and the passing of additional Bank security checks in accordance with Bank policy from time to time. Further information of vetting and security clearance requirements for the role will be provided to the successful applicant. Further information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice at Privacy and the Bank of England | Bank of England.

The closing date for applications is 31 March 2023.