Bank of England
Location: Yorkshire & Humber; East Midlands
Programme: Supported Hire into permanent role. Flexible working opportunities available
Deadline: 15 May 2019
The Bank of England welcomes professionals who have taken an extended career break to apply for this permanent role. Successful hires who have taken a career break of 2+ years will receive coaching support through the transition period from Women Returners.
The Bank of England is the central bank of the United Kingdom. Standing at the centre of the UK’s financial system, the Bank exists to ensure monetary stability and to contribute to financial stability. The Bank’s network of Agents across the UK plays a key role in supporting both of those core purposes by gathering and using business intelligence to brief policymakers, and to represent the Bank in the region. Their work contributes directly to the formulation of monetary and financial policy in the UK.
Two vacancies have arisen, one in the Bank’s Agency in the East Midlands and one in the Yorkshire & Humber Agency. The roles are open to job shares, flexible and part time working patterns
About the Department
The Agencies act as the ‘eyes, ears and voice’ of the Bank of England in their respective parts of the United Kingdom, covering both monetary policy and financial policy. The Deputy Agent will work in tandem with the Agent for their region to deliver three key outputs:
(i) the gathering, analysis and reporting of economic intelligence from businesses and other organisations in the region and, working with colleagues across the Bank, help to equip the Monetary Policy Committee (MPC) and the Financial Policy Committee (FPC) to make high quality decisions;
(ii) the effective representation of the Bank’s key policy messages and analysis to business contacts and broader local audiences in the region, in order to support a widespread understanding and trust of the monetary and financial policy framework; and
(iii) to support their “One Bank” strategy by both building collaborative and effective relationships within the Agency network, and between the Agency network and other parts of the Bank.
About the Role
By speaking to businesses and other organisations in their regions, the Agencies assess and report on economic conditions to support the Bank’s monetary and financial stability objectives. Working closely alongside the Agent, you will visit a wide range of contacts, analyse and report on the intelligence gathered to help both the MPC and the FPC make well-informed decisions. You will represent the Bank in the region, including presenting the Bank’s key policy messages and analysis to a range of audiences.
While delivering these key outputs, the Deputy Agent will also support the Agent by: (a) helping manage the Agency team and resources; (b) contributing to exercises aimed at developing and maintaining a contact base that is representative, regularly refreshed and fit for purpose; and (c) contributing to the broader work and development of the Agency network.
You will develop effective working relationships with the Bank’s policymakers. This includes providing intelligence and hosting visits to the regions that, together, help inform their policy decisions.
For more information on the role of the Agents and their contributions to the Bank’s work please see the Quarterly Bulletin article “The Agencies and ‘One Bank’ and recent publications on the Bank’s website.
Plus, the East Midlands and Yorkshire Agencies are on Twitter so please look at their accounts @BoEEastMidlands and @BoEYorkshire to get a flavour of their day to day activities.
The Agency Network supports the Bank’s diversity objectives. The Bank is committed to having a diverse and inclusive environment. They are keen to receive applications from all candidates who may be interested in working flexibly, including part-time working.
This role would suit people from a range of backgrounds who are confident in and have a strong interest in economic topics and business. You will need the ability to:
- demonstrate a good understanding of the Bank’s approach to monetary and financial policy and its policy framework more generally – or be able to show you have the ability to gain this understanding;
- keep pace with Bank of England policy developments and key data;
- establish and develop relationships with board level members of the business community, 3rd sector organisations and other bodies active in the regional economy in order to gain good quality intelligence about conditions and activities in the real economy;
- use that intelligence effectively within the Bank to assist policy makers and other colleagues in their understanding of economic conditions, and thus facilitate good decision making;
- work collaboratively and effectively with Bank colleagues, senior Bank staff and members of the Monetary Policy Committee & Financial Policy Committee;
- communicate effectively and engagingly on Bank of England topics with a range of audiences – large and small – who have a range of economic knowledge;
- work independently and deliver good quality outputs to agreed timetables.
A full driving licence is required. Management experience would be helpful. Knowledge of the East Midlands / Yorkshire economy and business community would be helpful but is not essential.
As a unique institution, the Bank of England offer a competitive reward package which sets them apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. They also offer a working environment which fully supports individuals through flexible working, as well as wellbeing initiatives including an on-site medical and dental unit.
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 their flexible benefits programme each year.
- 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
About the Bank of England
As a place of work, the Bank feels different from most other organisations. The atmosphere is relaxed but professional, research-driven and also very much connected to real events in the economy. While organisations in the private sector are focused primarily on profits, the ultimate objectives for the Bank are always the quality of thinking and the rigour of analysis. This makes for an unusually satisfying place to develop your career. Whichever area of the Bank you join, you will almost certainly be working on high-profile and high-impact projects. The issues they deal with on a daily basis are often in the news headlines, and have implications for everyone in the country. For many of their people, this sense of contributing to the public good is one of the most rewarding aspects of working there. Just as importantly, they have a strong culture of support that exists within each of their teams and across the organisation as a whole.
Please apply online here by completing the application questions and submitting a copy of your CV. The deadline for applications is the 15 May 2019 .
If you have any questions, please email ASKHR@bankofengland.gsi.co.uk
The Bank of England anonymises 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.