Job Description

Policy Manager, Continuity & Restructuring Team - Resolution Directorate - ( 010044 )
Primary Location UK-ENG-London
Job Resolution
Organisation 420001 - RESOLUTION DIV
Job Posting 01-Dec-2023, 6:56:20 AM

An excellent opportunity has come up to play a key role in taking forward the work of the Bank as world-leading resolution authority, as a manager in the Resolution Policy Division\xe2\x80\x99s Continuity & Restructuring Team.
Introduction
The Bank of England is the UK\'s central bank. 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 Bank of England is the UK resolution authority and aims to ensure that firms can fail in a safe manner, minimising disruption to the economy and minimising risk to public funds. This is known as \xe2\x80\x9cresolution\xe2\x80\x9d. Having an effective resolution regime is a strategic priority for the Bank and the UK is a global leader in the development of its framework. Earlier this year, the Bank used its powers in respect to Silicon Valley Bank UK.
The Resolution Directorate (RD) is a highly dynamic area of over 100 people from a diverse range of personal and professional backgrounds including policy, supervision, economics, professional services and accounting, law, banking, consulting, and central government. Our team reflects the broad range of issues we confront. This makes a diverse, stimulating and exciting place to work, where it is possible to learn rapidly from a wide range of colleagues and situations.
The work we do The Resolution Policy Division leads on policy issues across its three teams: MREL & Liquidity; Continuity & Restructuring; and CCPs.
The Division\xe2\x80\x99s purpose is to help maintain a UK resolution framework that is fit for the purpose of resolving failing financial sector firms without public capital support and which is ready to be used this is part of RD\xe2\x80\x99s mission to protect and enhance financial stability through making firms resolvable.
We are committed to working collaboratively with colleagues across RD and the Bank, and other UK and international authorities, to fulfil our purpose. We are human and humble, but also unafraid to be bold and to harness the power of diverse thinking and our technical expertise to deliver sound, clearly communicated analysis and practical / implementable policy proposals that help deliver RD\xe2\x80\x99s and the Bank\xe2\x80\x99s strategic objectives.
We endeavour to be international thought-leaders in resolution policy.
We are committed to learning, and to developing and challenging ourselves and each other, whilst protecting our own and each other\xe2\x80\x99s resilience and wellbeing. We consider our work from all relevant perspectives, and we are open to changing our minds and learning from mistakes.
We are fully committed to having a diverse and inclusive working environment and we support our staff in structuring their working arrangements to balance their work-life needs. This role is open to job shares, flexible (including working from home days) and part-time working patterns. We also offer many opportunities for training and career development.
Role Description
RD is recruiting a Scale E Policy Manager in the Continuity & Restructuring team. It is an exciting role for an ambitious, self-starting and enthusiastic individual to develop resolution policy.
This is a people management role. You will be responsible for day to day management and for defining roles and responsibilities. You will develop team members through sharing information effectively, coaching and communicating a clear vision to ensure they are productive, engaged and motivated to deliver the area\'s aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing staff-related matters that may arise including performance, absence and sickness.
You will manage a really exciting portfolio of work, including leading on the operational continuity work for an expanded resolution toolkit and developing a failure regime for stablecoins. You will be the leading expert on key resolution policies such as operational continuity in resolution (OCIR) and, Restructuring Planning. You and your team will also provide technical expertise and advice to supervision teams and firms.

You will:

• Work at the forefront of policy on resolution, which is still a relatively new area of central banking; and in a division that is a true global thought-leader in its field;

• Apply that thought leadership to technical issues at banks, building societies and other financial institutions in scope of resolution including some of the most systemically important banks in the UK and the world);

• Build relationships with other teams in the Bank, other authorities and international committees;

• Continue to develop skills and experience relevant to many other parts of the Bank.

Policy alumni have moved to different areas including Prudential Policy, Supervision, Financial Stability Strategy & Risk, Markets, Governors\xe2\x80\x99 Private Offices, International Directorate and the FCA.
And for the candidate with the right set of technical expertise there may also be the opportunity to do some firm-specific contingency planning.
Your responsibilities here would include:

• Developing domestic and international resolution policy and providing technical advice (e.g. restructuring planning, operational continuity)

• Working across multiple workstreams, leading some on behalf of the Division including managing the work of others

• Preparing analytical papers, presentations, and external publications, and presenting these to internal governance committees such as ResCo

• Maintaining key relationships and influencing stakeholders developing and implementing related policy across the Bank and other regulators including as the Resolution representative on cross-Bank working groups

• Preparing briefings for Senior Management (e.g. Governors) and international working groups on resolution policy

• Supporting the senior manager in planning and delivering the team\xe2\x80\x99s objectives

• Line managing and developing at least two team members and providing wider coaching and support to colleagues across RD

• Doing all this in a way that champions the Bank\xe2\x80\x99s behaviours \xe2\x80\x93 acting inclusively, driving growth and delivering outcomes.

Role Requirements
Minimum Criteria

• Have knowledge of resolution or previous experience of policy development

• Excellent analytical and problem solving skills and creativity \xe2\x80\x93 we are often dealing with novel issues

• Demonstrated ability to work effectively and efficiently as part of a team and as an intellectual leader of analytical work, delivering high quality output

• Ability to lead multiple projects or workstreams to completion, including managing the roles and work of other team members and potentially colleagues in other divisions

• Ability to make good judgements and decisions which can be explained concisely

• Strong interpersonal and communication skills, both written and oral, including to manage stakeholders across the Bank.

Essential Criteria

• Be a self-starter, highly motivated and capable of working autonomously, including to tight deadlines during busy periods

• Experience of / an ability to influence key people (including senior management) with a track record of delivering results through building and maintaining strong working relationships

• Possess a natural curiosity and desire to learn about the operational developments in the financial markets \xe2\x80\x93 emergence of fintech banks, stablecoins and the general evolution of business model dependencies on technology.

Desirable Criteria (Any of the following would be advantageous, but don\xe2\x80\x99t be put of if you don\xe2\x80\x99t have all or any of these)

• Prior experience of managing staff or projects

• Technical expertise in any of the following areas would also be advantageous: operational resilience; insolvency and restructuring; finance and accounting

• A good basic understanding of the functioning of financial markets, banks and/or payment systems.

#LI-CF1


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\xe2\x80\x99s by drawing on different perspectives and experiences that we\xe2\x80\x99ll 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. If you wish to apply under this scheme, you should check the box in the \xe2\x80\x98Candidate Personal Information\xe2\x80\x99 under the \xe2\x80\x98Disability Confident Scheme\xe2\x80\x99 section of the application.
Salary and Benefits Information This role offers a base salary of circa \xc2\xa362,700-\xc2\xa370,000 (depending on skills and experience) on a full time basis. Part time salary and benefits will be on a pro-rata basis as appropriate.
In addition, we also offer a comprehensive benefits package as detailed below:

• 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\xe2\x80\x99 annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.

National Security Vetting Process Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank\'s Privacy Notice
The Application Process Important: Please ensure that you complete the \xe2\x80\x98work history\xe2\x80\x99 section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It\xe2\x80\x99s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The closing date for applications is 3 January 2024

Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.