Analyst - Banking Policy (Market & Counterparty Risk)

  • Location


  • Sector:

    Banking, Financial Services

  • Salary:

    £35,700 - £41,580, dependent on relevant skills and experience.

  • Published:

    5 months ago

  • Expiry date:


  • Client:


The company:

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.

Prudential Policy Directorate 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 PRA-regulated firms and ensure appropriate protection for insurance policyholders. PPD supports both the Prudential Regulation Committee and Financial Policy Committee in fulfilling their objectives.

Department Overview

The Banking Policy Division (BPD) leads on policy relating to prudential requirements, which are there to ensure banks identify and manage risks appropriately, are adequately capitalised, and have sufficient liquid assets. The division plays an active role in policy development, implementation, evaluation, and horizon scanning, in close collaboration with staff across the Bank, and internationally. The division contributes to cross-Bank work, and undertakes analysis and research to ensure that the Bank stays at the forefront of the intellectual debate on prudential policy.

Job description

An exciting opportunity has arisen within our team. We are responsible for policy related to traded risks – i.e. risks that arise when banks own and trade financial instruments like equities, bonds and derivatives. These include the risk of losses from changes in the price of financial instruments, the risk of losses from a borrower defaulting and valuation uncertainty. We develop and evaluate relevant policies at both domestic and international level, and play an important role in supporting successful implementation of prudential policy and effective supervision of PRA regulated firms. We also contribute significantly to the identification, analysis and developing policy response on new and emerging risks.

We are looking for someone with an excellent analytical mind who is comfortable taking on topics that may be complex and unfamiliar and taking the initiative to work through the issues and find solutions. You will be happy working with data, and might have a background in economics, finance, law or statistics, or other experience where rigorous analysis and attention to detail will ensure success. You will be supported by a friendly, diverse and experienced team, and will have many opportunities to collaborate with other areas.

This is a very exciting time to join us! We contribute to high-profile work shaping future UK policy framework and evaluating post-crisis reforms. As the rapid evolution and constant innovation of the financial markets will always present challenges to regulators, the nature of our work is intellectually stimulating.

Over time, team members gain exposure to the full range of our work. This includes contributing to or leading on specific issues as they arise and represent us in various internal and external engagements. As a start, you will play an important part in the following:

  • Designing the UK’s implementation of international rules for traded risk, including making recommendations on policy design, writing policy, analysis of impacts and engaging with internal and external stakeholders.

  • Supporting our work on other policy issues, including assessing equivalence and other issues around the future UK framework.

  • Contribute to local and Bank-wide priorities, for instance, climate change and LIBOR reform

Role Requirements

Minimum Criteria

  • Some exposures to or basic understandings of finance, capital markets, financial instruments and associated risks, gained through career experience or academic study.

Essential Criteria

  • Excellent analytical skills, experience in carrying out analysis and delivering high quality output and attention to detail.

  • Excellent written and verbal communication skills, including the ability to explain complex technical issues accurately and succinctly, and to flexibly adapt communication styles to audience with varied backgrounds.

  • We do not expect you to have all the technical knowledge, but it is essential that you are willing to learn and develop your expertise in the role.

  • Excellent stakeholder management skills and ability to build constructive relationships with people of different seniority internally and externally.

  • Ability to manage multiple work streams and work dynamically to accommodate shifting priorities and timeline.

Desirable Criteria

  • Practical or theoretical knowledge and experience in prudential regulation, investment banking, financial markets and products, or relevant degrees such as finance, economics, law, mathematics and statistics.

We anonymise applications so hiring managers will not be able to see your personal information, your original CV or covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.

We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.

This role is open to job shares, flexible and part time working patterns.

The closing date for applications is 22 October 2020.

As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.

The salary range for this vacancy is £35,700 - £41,580, 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.