Banking and Insurance Senior Supervisor

Job Description

The Bank of England is the UKs 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 plus 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.We face a complex and challenging task, one that presents numerous opportunities to protect policyholders and UK financial stability and one that delivers real and lasting benefits to society.Directorate OverviewAt the Bank of England, we protect everyday life in the UK. We ensure that financial services are safe, inflation is stable and systems are secure. The Bank of England prudentially regulates and supervises financial services firms through the PrudentialRegulation Authority (PRA). We create policies for firms to follow as well as watch over aspects of the businesswe call this supervision. Our Banking and Insurance directorates sit within the PRA and supervise over 1500 firms, so theyre crucial to achievingthe Banks mission. And now, were looking for motivated people to join us and take on incredibly impactful and rewarding work.Job DescriptionWhen you join, youll take on varied and high-profile work. Banks, as well as other financial services such as insurers and building societies, are all businesses. Their success is measured in the same way as other businesses, including the profit they make.Banks and insurers hold your money for you so that you can make payments and control your financial life. There is a responsibility that comes with that. Thats where the PRA comes in. As part of the Bank of England it is our role to ensure that firms actsafely and reduce the chance of getting into financial difficulty. Its an exciting role to take on, as youll have many different responsibilities. Youll focus on anything from the newer firms who have a more innovative approach, through to some of the largerbanks and insurers, including organisations like Aviva, Barclays, Virgin Money and JP Morgan. (And thats naming just a few.)Role RequirementsDay-to-day, youll use your analytical skills to deliver assessments and understand any risks the firms you supervise might pose. If banks stopped working, the entire economy would grind to a halt. Similarly, if an insurer was unable to pay out on policies,this could affect a number of people and businesses. Our aim is to ensure that the entire financial system continues to work in a safe and sound way. If things do end up going wrong, we try to ensure this happens in an orderly way. To do this, youll interactwith firms and build an understanding of how they work. And when things dont look quite right, youll investigate issues and dig deeper.As a senior supervisor you may be expected to lead a relationship with a firm or a number of firms, or part of the wider team. You may be expected to lead meetings with senior individuals of the firm(s) you supervise. As part of the role youll share yourfindings with internal team(s) and work closely with senior leaders across the UK and internationally. Everything you do will help to ensure our strategy for supervising firms is being implemented. No day will be the same as another but at a high level, youwill most likely find yourself doing a mixture of things such as reviewing your firms regulatory data submissions and Management Information (MI), deciding if any follow-up with the firm is required, preparing briefing materials for meetings with your firmsand PRA seniors. The mixture of high-profile work and complex issues means youll have plenty of opportunities to develop both your technical and interpersonal skills.Well match you to a role that builds on your strengths. You will need to have a level of financial services experience and understanding but as importantly, youll need to be curious, ready to learn and keen to share ideas. We also provide a comprehensivetraining offering into supervisory and technical areas. Youll enjoy analysing problems and be open to discussing and debating issues. All of this will lead you to investigate different issues and make good judgements. And with plenty of self-motivation andinitiative, youll be able to set your own targets and work to deadlines. Importantly, youll have the ability to manage different stakeholders and influence both people and decisions.Minimum CriteriaPro-active, strong analytical skills, ability to communicate with credibility in front of internal and external stakeholdersEffective relationship management, including an ability to influence senior colleaguesAble to work independently as part of a team, coach more junior colleagues and to challenge constructively by bringing a diverse set of views and perspectives.Existing financial services experienceAbility to draw reasonable conclusions from a range of financial information and recommend appropriate remedial actionCommercial awareness and an understanding of the impact of external factors and industry trends.Excellent organisational skills to proactively prioritise and manage workload.Excellent interpersonal skills to be able to build and maintain relationships with colleagues and external stakeholders.Ability to produce clear, concise and structured written communication tailored for different audiencesWe welcome applications from individuals who have experience, or transferable skills, from a previous role, where you can demonstrate the ability to use analytical skills to apply judgement or influence a stakeholder.Desirable CriteriaOne or more of the following would be particularly welcome:Existing financial services experience at a PRA regulated Firm or public sector organisationFamiliarity with prudential regulation and an understanding of the PRAs supervisory model and approachRelevant professional qualifications (e.g. CFA, FRM, ACCA etc.)Existing academic or work experience in a regulation or policy makingData analytics skills (e.g. Tableau, R, Excel etc.)You should not be put off applying if you do not meet/ have all of these criteriawe would 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 inrole. The Bank values diversity and inclusionwe want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity,gender, gender identity, race, religion and sexual orientation. One way