Bank of England – Legal Directorate
Legal Counsel Roles
Applications have now closed
Remuneration: Up to £81,000 (dependent on skills and experience) plus benefits
Programme: Supported Hire into a range of permanent and fixed term contract (FTC) opportunities. Flexible working opportunities available
Deadline: Apply by 23.59pm on Sunday 10 February 2019 via the link(s) below
The Bank of England welcomes lawyers who have taken an extended career break to apply for opportunities either on a permanent basis or if preferred a fixed term contract of up to 9 months. There are Legal Counsel opportunities across the Legal Directorate to suit a range of legal expertise and experience.
Successful hires who have taken a career break of 2+ years will receive coaching support through the transition period from Women Returners. The Bank is absolutely committed to having an inclusive environment. Improving the diversity and depth of experience of staff is something that the Bank is passionate about.
About the Legal Directorate
The Bank of England is the UK’s central bank and a diverse organisation. Each of its 4,000 plus employees are committed to public service and dedicated to deliver the Bank’s mission to promote the good of the people of the United Kingdom through maintaining monetary and financial stability. Protecting the nation’s insurance policyholders is a vital job.
The Legal Directorate performs a wide-ranging legal advisory and support role for the Bank of England. It works closely with business areas across the Bank and the Prudential Regulation Authority on a wide range of key UK and international issues, covering areas such as current and prospective UK and EU legislation, banking and market operations, financial stability, prudential regulation, financial market infrastructure and resolution-related issues, legal risk management and issues arising from the Bank’s and PRA’s public status.
The Legal Directorate usually provides legal advice in-house, but engages external counsel as necessary. It comprises a General Counsel and approximately 140 other staff; and is fully supportive of part-time and flexible working.
Alongside the General Counsel’s Office, the Legal Directorate is split into five main divisions:
- Central Banking, which provides legal advice on the Bank’s constitution and governance; Markets and Banking operations; commercial contracts, procurement and intellectual property; notes procurement, production and distribution; data and information management; and the Bank’s financial and funding arrangements.
- EU Withdrawal, which co-ordinates the provision of legal advice to the Bank and acts as a Hub for managing legal risk associated with the UK’s withdrawal from the European Union.
- Enforcement & Litigation, which leads investigations and the imposition of any enforcement sanction within the PRA. It runs the investigative process from inception to recommendations concerning the appropriate sanction. It also runs any settlement process and any litigation should a matter be contested.
- Financial Stability, which provides legal advice on the regulation and supervision of Financial Market Infrastructure (such as central counterparties, payment systems and securities settlement systems), on macro-prudential policy and regulation and associated legal framework for the Bank’s Financial Policy Committee and on the Bank’s role as the UK’s resolution authority.
- Insurance and Deposit Takers, providing legal advice to supervisors in relation to supervisory decision-making, and to policy-makers in the PRA on capital, liquidity and other prudential requirements of banks, insurers and investment firms.
For a closer look at the work of the Legal Directorate, take a look at their Careers Brochure.
Read about the experience of Virginia who joined the Legal Directorate after a 8 year career break Virginia’s Story
About the Roles
There are opportunities across the Legal Directorate to suit a broad range of legal expertise and experience, including, but not limited to:
- Commercial procurement and contracts
- Markets and banking
- International trade
- EU law
- Financial regulation and insolvency.
The legal work is often high profile, frequently complex, and sometimes entirely unique, but the Legal Directorate are a collegiate team, working collaboratively and sharing information and insights freely, with tried and tested induction processes which will ensure new colleagues can get up to speed quickly.
Working in the Bank’s Legal Directorate is quite different from working in a law firm. Not only will you be working as part of an in-house legal team, but you will need to develop a firm understanding of effective decision making in a public law context. They recognise that new joiners will not have direct experience of many of the legal issues which they span on a daily basis and they will provide training and support for unfamiliar areas. Rather than seeking legal experience within a specific discipline, what matters most is a willingness to learn quickly, engage openly and rise to the challenge.
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.
Recruiting at two levels of experience, the respective opportunities offer a base salary of either up to £58,500 or up to £81,000 depending on your level of 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 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.
The environment is extraordinary too: a historic building located in the heart of the City, which combines rich tradition with up-to-date technology and facilities. 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, by completing the application questions and submitting a copy of your CV.
Below are four separate links for you to apply to, based upon experience and length of the role (please apply to all that you would like to be considered against, commensurate with your experience):
The Bank anonymises applications so hiring managers will not be able to see your personal information such as name and address when reviewing your submission. Please complete the application form questions as requested as any incomplete submissions may not be reviewed.
With any questions, please email firstname.lastname@example.org