Financial Resources and Credit Manager

  • Location

    London

  • Sector:

    Banking, Financial Services

  • Salary:

    £59,000 - £74,000 (subject to experience and skillset)

  • Published:

    about 1 month ago

  • Expiry date:

    2020-09-25

  • Client:

    #

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.

The directorate undertakes supervision, as a host regulator of the UK activities of firms head quartered in over 50 overseas jurisdictions. The firms we supervise include some of the world's highest profile investment firms, banks and custodians.

Department Overview 
About International Banks Supervision

International Banks Directorate (IBD) undertakes supervision as a host regulator of the UK activities of firms headquartered in over 50 overseas jurisdictions. The firms we supervise are many and varied and, as a result, require different types of supervision.   We supervise some of the world’s highest profile investment firms, banks and custodians, which would typically have a team of supervisors for one firm.  We also supervise large numbers of smaller banks on a portfolio basis, with one supervisor responsible for several firms.

A distinctive aspect of our role is that the firms we supervise are branches or subsidiaries of multinational groups based abroad. This often adds an element of complexity, leading us to proactively coordinate our work with overseas regulators and rely on influencing skills in a number of situations to achieve our supervisory objectives. Our broad remit involves dealing with individuals from a wide variety of countries and cultures. This means that IBD as a whole places a significant value on cultural sensitivity and we recognise the benefits of having a Directorate with a broad range of cultural experiences and knowledge.

IBD 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.

Our recruitment approach

We want our Directorate to represent the variety of backgrounds, life experiences and cultures found in the UK. In fact, it is crucial for the Bank and PRA’s wider objectives, and therefore our objectives as a Directorate, that we do. We want to recruit in a way that enables and encourages people with the required skills for the role to apply no matter what their career experience, be it mainly financial, scientific, creative, service-based, or anything else. So if you think you have the required skills, regardless of what you have done before or are doing now, we invite you to apply for a role with us.

To help us identify the best candidates for our roles, IBD is committed to the use of inclusive recruitment processes, and ensuring diverse recruitment outcomes. These commitments are grounded in principles of meritocracy, fairness, openness, ethical behaviour and respect for people. We anonymise applications so that hiring teams cannot see your personal information, including your CV, when reviewing your submission.

This advert sets out minimum essential criteria for applicants, as well as desirable criteria, competencies and skills, which we believe, would be helpful for the roles available. You should not be put off applying if you do not meet/ have all of the desirable criteria. Job shares, flexible, and part-time working arrangements are welcomed for the roles.


Job description

We are recruiting a manager to lead our programme of Capital (C-SREP),Liquidity (L-SREP) and Credit Reviews for firms across the Directorate.

If successful, you will be responsible for the planning, execution resourcing of the reviews whilst supporting the training of pool members.  You will work closely with front-line supervision teams responsible for the day-to-day supervision of foreign banks. You will also interact regularly with senior management at regulated firms and within the PRA/BoE, and may need to support supervisors in building effective working relationships with home state regulators.

The roles carry a significant level of responsibility and require a proactive approach. You will have line management responsibilities for a small team of experienced supervisors.  

These roles will give you the opportunity to:

  • Work as part of a team to deliver high quality credit and S-REP reviews for all IBD firms
  • Design and oversee planning of work and resource allocation to prioritise reviews as appropriate
  • Identify, assess and propose risk mitigation to supervision teams for firms reviewed;
  • Build and maintain effective relationships with and influence supervision teams, IBD networks, policy risk specialists and across the Bank to achieve firm-specific and thematic aims;
  • Utilise and/or broaden your knowledge of credit, capital and liquidity;
  • Provide technical advice to supervisors in the event of crystallised risk in your area of specialism

Role Requirements

Minimum (Essential) Criteria

  • An ability to work as an effective leader and member of a team;

  • Excellent communication skills; able to produce clear and concise written and verbal communication tailored to the circumstances;

  • Sound judgment and an ability to deliver under pressure;

  • Excellent stakeholder management and the ability to present yourself and the PRA in a professional and credible manner;

  • Strong organisation skills, enthusiasm and dedication for mentoring and developing colleagues; and

  • Ability to learn and develop, taking on new responsibilities and embracing a flexible and pragmatic approach to your work.
     

Desirable Criteria

  • Experience of management and delivering through others;

  • Knowledge of banking business models, risk management or key prudential areas such as capital, liquidity, or resolvability.

  • A good understanding of the PRA’s supervisory framework.

  • C-SREP, L-SREP or credit technical knowledge and experience
     

We anonymise applications so hiring managers will not be able to see your personal information such as name and address when reviewing your submission, including your CV. Please complete work history and the application form questions as requested because incomplete submissions may 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.

The closing date for applications is 25 September 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. 

This specific role offers a base salary of c. £59,000 - £74,000 (subject to experience and skillset) 

The total 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.  The current cost to the Bank of providing this pension is 35% of your salary.
•    A discretionary performance award based on a current award pool and target award of 10%, with a maximum potential award of 25%
•    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 insurance