Want to play a leading role in a lively Division of motivated, enthusiastic people surrounded by friendly and supportive colleagues? Enjoy fast-paced and varied work that has an impact? Enthusiastic about developing and coaching people to deliver high quality work and build successful careers? Care about diversity and inclusion and want to have an impact on behaviours and culture at the Bank? This might be for you.
The Bank of England
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. 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’s Financial Stability Strategy and Risk (FSSR) Directorate works towards a financial system that serves households and businesses in bad times as well as good. We are responsible for helping the Financial Policy Committee (FPC) identify cross-cutting risks to UK financial stability, assess the resilience of the UK financial sector and develop policy solutions to ensure UK financial stability. We work on a broad range of financial stability topics e.g. stress-testing, bank resilience, capital markets and non-bank financial institutions, households and corporates, and macroprudential strategy.
We’re recruiting for two senior manager roles – leading the Macroprudential Framework team and co-leading the FPC Secretariat - both involve leading motivated and high-performing teams as they help the Financial Policy Committee to identify, analyse and respond to major financial stability challenges including those associated with Covid-19. As the successful applicant for either role you will report to the Head of Division. You’ll be a member of the MSSD Senior Leadership team and have a say in how the whole Division is run.
Co-Senior Manager of the FPC Secretariat Team
As the successful applicant you will work alongside the other Senior Manager* in leading the FPC Secretariat function as it supports every aspect of the Committee’s work during this busy and challenging period. Together, you’ll ensure the whole FPC process is seamless, that the Committee has everything it needs to make its decisions and that your colleagues around the Bank (and at the FCA and HMT) are supported and guided as they deliver their analysis. There is lots of scope at the moment to innovate and improve how the FPC operates so your creativity, practical nature and problem-solving abilities will come in very useful.
You will have direct line management responsibilities for a busy team. You’ll draw on your previous experience and excellent judgement to guide and support your team as they act as ‘advisers’ to the FPC external members on all aspects of the Committee’s work and strategy; and as ‘topic partners’ to help colleagues and teams right across the Bank generate maximum impact and engagement when they bring their work to the FPC. Your ability to deliver through others and ensure high quality outputs will be crucial.
Your day-to-day tasks will involve lots of senior stakeholder engagement. You’ll also regularly work with and advise the FSSR Executive Director, Director and Senior Leadership Team as well as the Governors’ private offices. And you’ll build great working relationships with the FPC members and your counterparts in the FCA and HMT.
Senior Manager of the Macroprudential Framework Team
As the successful applicant you’ll manage and lead a team of six analysts/economists to develop the FPC’s macroprudential policy framework. You’ll guide and develop the team as it splits its time between policy-focussed quarterly analysis for the FPC and long-term research and analysis aimed at building the FPC’s overall macroprudential framework. Your creativity and ability to translate ideas into action will be critical to the way the team thinks about policy questions and tries to find new ways to answer them. Under your leadership, the team will directly contribute to improving the quality of the FPC’s understanding of, and how it thinks about, vulnerabilities; the FPC’s setting of the countercyclical capital buffer and discussion of longer-term issues such as assessing how the macroprudential framework has performed in the Covid-19 crisis.
You’ll be comfortable advising the team as they advance their own research agendas and help them to target and land their results in the most impactful way. And you’ll have a flair for translating technical concepts and analysis into principles and frameworks that the FPC can integrate into its work and use to communicate with its audience. You’ll need good stakeholder management too as your team’s work interacts a lot with other directorates and divisions.
Job requirements for both roles
You will be genuinely interested in the work of the FPC and feel excited by the opportunity to contribute to ensuring that the UK financial system can serve UK households and businesses in bad times as well as good (the former being particularly pertinent right now). You will also be able to demonstrate that you:
Have a great track record of leading teams and really enjoy supporting and developing staff.
Have experience of working on macroeconomic or financial policy issues and be able to demonstrate linking individual developments to the bigger picture and strategic objectives.
Have experience leading successful projects and will be confident taking issues from problem to solution via a clearly articulated strategy.
Have really sound judgement, including the ability to pre-emptively identify and manage risks and know when to escalate issues.
Be at ease juggling competing deadlines and priorities while working under pressure.
Have significant experience of getting decisions made in organisations like the Bank and/or working with private offices.
Be able to present information clearly, confidently and effectively across seniority levels.
Find developing and maintaining effective working relationships across a wide group of stakeholders and levels of seniority a natural part of the way you work.
What else do you need to know?
In MSSD we’re keen to think creatively about how we design jobs around the successful applicants which support all sorts of flexible working arrangements including job shares, part-time working patterns, Bank network commitments, study and research.
Helping to make the Bank a more diverse and inclusive place to work really matters to MSSD. If you join us you’ll have plenty of opportunities to drive change in the Division, in FSSR and Bankwide and help from your colleagues to do so. You’ll also have a say in how we make the FPC a more inclusive and less intimidating forum – something we’re thinking about hard at the moment. Your views on how to make the Committee more diverse in its approach, more open to challenge and more accessible and transparent in how it debates issues and reaches decisions will help shape its future ways of working, improve financial stability outcomes and, importantly, influence the culture at the Bank
So if a flexible role, designed around you in a forward thinking Division working on really important high-profile issues sound appealing please get in touch with Vicky White for more information and then send us an application. Applicants will be considered for both roles unless they indicate otherwise.
* This is not a job-share arrangement. There is clear delineation of responsibilities and direct reports but the two Senior Managers of the Secretariat function work closely together to deliver a high quality holistic Secretariat function.
We anonymise applications so hiring managers will not be able to see your personal information, your original CV or any 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.
This specific role offers a salary of £72,400 - £80,000 (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