Directorate Overview
The Financial Stability Strategy and Risk (FSSR) Directorate helps ensure the Bank of England meets it objective to protect and enhance the stability of the financial system of the United Kingdom.
In FSSR we work to maintain a stable financial system that can provide crucial services to households and businesses in both good times and bad. We help the Bank’s Financial Policy Committee (FPC) identify risks to UK financial stability and develop policy solutions. To find examples of our past work and what we are currently focused on, have a look at the most recent Financial Stability Reports.
Job description
We are looking to recruit for up to two roles (Lead Policy Analyst and Policy Adviser) to lead work relating to high-priority and policy relevant financial stability issues. This advertisement is only for the Lead Policy Analyst role, and the other role is being advertised at the same time.
This role will be based in FSSR’s Financial Innovation and Adaptation Team. We are focused on assessing the structural changes taking place in the financial system, and ensuring it remains resilient to these – a key priority for the FPC. This means we explore transformative financial system developments in depth, rather than monitor present-day risks.
The successful candidate will work primarily on delivering analysis on the macrofinancial implications of new forms of money (such as Central Bank Digital Currencies and stablecoins), the financial stability risks posed by Artificial Intelligence, and those posed by cryptoassets and their underlying technology. You can read about the Bank’s previous work on these issues here, here, here, and here). You will support the work of the Financial Policy Committee, collaborating with colleagues from other areas of the Bank.
FSSR is a dynamic and collaborative Directorate and you will have the opportunity to work across boundaries and build positive working relationships across FSSR and the Bank more generally.
The role will also provide opportunities to broaden and deepen your existing strengths and expertise, as well as your development goals, across a range of skills including data analysis, written and verbal communication, stakeholder management and modelling.
Lead Policy Analysts in FSSR are generally individuals who are beginning to develop an expertise in a specific area having consolidated the general skills and knowledge they have built up in earlier roles. They will still work with a good level of oversight from their manager(s) but more experienced Lead Policy Analysts will have scope to work with increasing levels of autonomy.
Role Requirements
Minimum Criteria
- A keen interest in financial stability issues and policy decisions aimed at improving the resilience of the UK financial system.
- A demonstrated commitment to diversity and inclusion.
- Ability to analyse complex issues through multiple information/data sources, and to turn analysis into accurate and relevant outputs for decision-making.
- Ability to communicate complex information clearly (both in writing and verbally).
- Ability to work collaboratively with others, seeking diverse perspectives and assumptions.
- Ability to plan, drive and deliver own work independently.
Desirable Criteria
- A high-level understanding of the role of banks and non-bank financial intermediaries within the financial system and with regards to the real economy.
- An understanding of the mechanisms and transmission channels which can give rise to systemic risk.
- Data analytics skills, including manipulating datasets, or modelling skills (e.g. on model development, financial market analysis, macroeconomic forecasting).
You should not be put off from applying if you do not meet or do not have all these criteria – we would actively encourage you to get in touch to discuss what support you might need to close any gaps and/or any other skills you might have which you think could be helpful in this role.
Our commitment to diversity and 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.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We’ve also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they’re needed.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we’re proud to be a member of the Disability Confident scheme. You can find more information on what this means here. If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Reward
The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.
This specific role offers a base salary of £52,730 to £60,840 per annum, along with our comprehensive benefits package as follows:
• 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 discretionary performance award based on a current award pool.
• An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 26 days annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.
Additional Information
We anonymise applications so that our hiring managers will not be able to see your personal information when reviewing your application, including your CV. Please take your time to complete the application form questions carefully and in detail as requested. The application questions (designed to assess the minimum criteria for the role) form an important part of the initial selection process and any incomplete submissions will not be reviewed.
The closing date for applications is 12 July. The assessment will comprise two stages: a written exercise and an interview. We expect to hold the written assessment in mid-July (online) and the interview after that (in person/online).
Please apply online, ensuring that you answer the application questions fully, taking your time to provide complete responses, please also complete your work history and submit your CV. Cover letters will not be read.