Senior Supervisors

Insurance Division

Location: London

Remuneration: £40,000 to £54,000 (dependent on skills and experience) plus benefits

Programme: Supported hire into permanent role. Flexible working available

Deadline: Apply by 5 June 2018

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 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 Role

The Bank of England is the UK’s central bank and a diverse organisation. Each of its 4000 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 the maintenance of monetary and financial stability.
Protecting the nation’s insurance policyholders is a vital job. The Prudential Regulation Authority promotes the safety and soundness of over 500 insurers. They help identify and mitigate potential risks before they can have an adverse effect on the public and financial markets. You will have the opportunity to work in a dynamic fast paced environment at the cutting edge of market developments.

The Challenge

You’ll join a directorate that focuses on domestic and international insurance firms, which vary in size, complexity and business model. They currently have a number of vacancies available across the directorate giving you the opportunity to specialise in life insurers, general insurers, composites and London Markets wholesale insurers including Lloyd’s of London and all of the firms that write business through Lloyd’s.

You’ll lead on prudential risk assessment and mitigation. This will see you analysing anything from business models and capital data to operations and governance. You’ll also build the senior-level relationships you’ll need to make recommendations and influence change based on your findings.

Your work will be high profile and complex, and will often see you making sometimes-difficult judgements. But the changes you bring about will be hugely positive, and the insight into the workings of the financial sector you gain will be unique. What’s more, the Bank’s openness to flexible working will ensure that you can maintain a healthy work/life balance.

The Requirements

The right skills are more important than the right background. You must be willing to learn across a broad range of disciplines, have strong analytical and problem-solving skills, combined with the ability to process, interpret and question large amounts of complex data. The ability to communicate your findings effectively is also vital, both in person and in writing, as well as the ability to manage competing priorities/projects. Professional work experience is a must, because you’ll need the credibility to influence and operate at a senior level. Financial experience, however, is not essential. In fact, the current team includes people from diverse backgrounds such as science, government, civil service and the military.

The Opportunity

If you want to see the impact of the Bank of England’s work, just look around you. As the central bank of the United Kingdom, they ensure monetary and financial stability for the UK’s economy. This means that the decisions they make shape life for everyone in the UK, so it makes sense that their talented team reflects every sector of society. Working in this diverse environment, you’ll get the training, support and flexible working options to build a lasting career within the PRA or the wider Bank.

As a unique institution, they have a 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, wellbeing initiatives including an on-site medical and dental unit.

Join them, and you’ll get the training, support and tailored working options to build a lasting career within the PRA or the wider Bank.

For a closer look at the role and the work of the PRA, click here: http://pra.bankofenglandcareers.co.uk/

Salary

This specific role offers a base salary up to £54,000 (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.

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.

To Apply

Please apply online, by completing the application questions and submitting a copy of your CV, using this link: Senior Supervisors – Insurance Supervision

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.

The closing date for applications is 5 June 2018.

With any questions, please email askhr@bankofengland.co.uk