AMS PSR

On behalf of the Bank of England, we are looking for a Senior Advisor (Inside IR35) for a 36 month contract This is a part time requirement of 3 days per week.

The role can be performed on a flexible basis, including with remote working, although the ability to attend the PRA’s London offices is required in line with the Bank’s current ways of working practice (minimum of 40% of working time in the office).

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 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 Prudential Regulation Authority (PRA) is the UK’s prudential regulator for deposit takers, insurance companies, and designated investment firms. The PRA is part of the Bank of England, overseen by the Prudential Regulation Committee that sits alongside the Financial Policy Committee and the Monetary Policy Committee as the micro-prudential arm of the Bank of England’s policy framework.

The PRA has two primary objectives set by Parliament: a general objective to promote the safety and soundness of regulated firms, and an objective specific to insurance firms for the protection of policyholders.

The PRA also has two secondary objectives; to facilitate effective competition in the markets for services provided by PRA-regulated firms and a new secondary objective to act, where possible, to facilitate the UK economy’s international competitiveness and its growth over the medium to long term, subject to alignment with international standards.

• The PRA is seeking to appoint a Senior Advisor with industry experience of operating at senior levels and in particular experience of traded risk or wholesale banking, for example through previous senior management roles in investment banking firms, banks with significant wholesale activities, or equivalent roles in relevant advisory firms.
• Drawing on their own networks and experience, the Senior Advisor will support policy and supervision colleagues across the PRA, providing independent advice and challenge to help the PRA assess topics that impact the banking sector and the wider financial system, and to help supervisors pursue key issues in their supervision of individual firms.
• The role of the senior adviser includes providing advice and guidance to PRA executives on key challenges which firms are facing, working closely with colleagues who are developing policy, or advising supervisors on banking sector matters, especially those in investment banking or wholesale banking. It includes contributing to the PRA’s assessment and response to sector-wide risks and working with supervisors on high-profile individual firm supervision priorities. Senior advisors also participate in interview panels for prospective senior managers of PRA-regulated firms and provide independent challenge on decision-making panels.
• The Senior Advisor will be expected to build and maintain key external relationships, including relevant stakeholders in industry and other relevant organisations, to help inform the PRA’s work on both known and emerging risks.

Senior Advisors at the PRA provide advice, support, and constructive challenge to the way the PRA and the wider Bank of England works, operates, and exercises its judgement. Senior Advisors do not have line management or staffing responsibilities, but they often offer coaching, mentoring and career development to some PRA staff as part of their role.

As a Senior Advisor, your main responsibilities will be:

• Advise, support, and challenge PRA staff in their supervision of individual firms, the wider banking sector, and the UK financial system as a whole.
• Digest and synthesise information quickly, think critically to reach reasoned and robust conclusions, and communicate effectively.
• Be independent-minded and contribute constructively to well-informed debate on how to advance the PRA’s objectives and the Bank of England’s mission.
• Influence strategies to deliver the PRA’s primary and secondary objectives by advising the PRA’s senior decision-making bodies and developing good working relationships and practices across the organisation to support sensitive and complex projects.
• Work collaboratively with a range of staff including those at the start of their career through to PRA senior management, to support the PRA in achieving good supervisory outcomes.
• Handle highly confidential and commercially sensitive information appropriately.
• Adhere to the Bank of England’s Code of Conduct for staff, which can be found on the Bank’s website.

Essential:

• Experience of Traded, Market and Counterparty risk, or wholesale credit risk gained by operating strategically at senior executive and/or board level, and with a broad understanding of relevant market practices in investment banking or wholesale banking.
• Experience at board level in executive leadership roles in investment banking firms, banks with significant wholesale activities, or equivalent roles in relevant advisory firms
• Previous experience at operating at C-suite or partner level in an advisory firm.
• An understanding of or a commitment to learning PRA’s objectives, and its regulatory and supervisory approach, and a commitment to helping the PRA achieve its statutory objectives.
• Familiarity with the concepts and frameworks relating to prudential supervision and risk management in the banking sector.

Please be aware that this role can only be worked within the UK and not Overseas.

Our Approach to Inclusion

The Bank values diversity, equity, and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.

At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation, and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.

Disability Confident 

As a member of the Disability Confident Scheme, the Bank of England guarantees to interview all candidates who have a disability and who meet all the essential criteria for the vacancy. In cases where we have a high volume of candidates who have a disability who meet all the essential criteria, we will interview the best candidates from within that group. This scheme encourages candidates with a disability and/or neurodivergence to apply.

Armed Forces Covenant 

The Bank of England guarantees to interview veterans or spouses / partners of military personnel who meet all the essential criteria for the vacancy. In cases where we have a high volume of ex-military candidates / military spouses or partners, who meet all of the essential criteria, we will interview the best candidates from within that group.

"In applying for this role, you acknowledge the following "this role falls in scope of the Off Payroll Working in the Public Sector legislation. Any rates of payment quoted will reflect the gross rate per day for the assignment and will be subject to appropriate taxes and statutory costs. As such the payment to the intermediary and your income resulting from this contract will be different".