Job Description

Senior Manager, UKDT Supervision - ( 010021 )
Primary Location UK-ENG-London
Job Banking
Organisation 661000 - SMALL MUTUALS AND STRATEGIC GOALS
Job Posting 01-Dec-2023, 8:30:46 AM



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 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.

The UK Deposit Takers (UKDT) directorate is responsible for the supervision of over 600 banks, building societies and credit unions. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision.

Department Overview
UKDT is central to maintaining UK financial stability and interacts with areas across the entirety of the Bank. It is an especially exciting time to work in UKDT as we help firms navigate a fast-paced external environment, a changing regulatory landscape in the UK and significant issues facing the industry, including climate change and the development of fintech based business models.

Job description
This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff 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 all staff-related matters that may arise including performance, absence and sickness.
A fantastic opportunity has arisen for a Senior Manager (Scale D) role on the Credit Unions team within the Small Mutuals and Strategic Goals (SMSG) Division in UKDT. This is a leadership and people management role supervising a key part of the financial ecosystem. Numerically, credit unions make up the largest cohort of UK deposit takers - 380 credit unions and act as a crucial alternative to mainstream banks in all parts of the UK. This role reports to the Head of Division of SMSG and would form part of the Division\xe2\x80\x99s leadership team. The successful applicant will be responsible for developing and executing the PRA\xe2\x80\x99s supervisory approach and policy strategy for the credit union sector. This incorporates not only line and peer group supervision, but also acting as lead on the Bank and PRA\xe2\x80\x99s communications programme and stakeholder management for the sector. The credit unions team also leads on resolution and authorisation matters. With three direct reports and an overall team of ten, you will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the supervisory strategy. 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 all staff-related matters that may arise including performance, absence and sickness. Where necessary, you will face off directly to senior stakeholders at credit unions on the issues for which you are responsible. You will also play an active part at trade association events including making presentations and speeches; this has historically included being one of the PRA representatives on the International Credit Unions Regulators\xe2\x80\x99 Network (ICURN). The role does require travel and you are likely to be working away from home 6-8 times per annum. Role Requirements All senior managers in UKDT are responsible for:

• Leading their supervision teams which may consist of a single or portfolio of firms, ensuring the effective delivery of forward-looking, risk-based, and judgment-led supervision;

• Agreeing the annual strategy for individual firms, in line with the Supervisory Risk Framework; and setting the overall work-plan;

• Providing line management of direct reports (Scale E managers) and leadership for a team of Scale E / F and G supervisors, including agreeing smart, stretching work and development objectives that are aligned to the work-plan of the team, Division, and Directorate;

• Maintaining strong and effective working relationships with the senior management of firms as well as with other key stakeholders including PRA colleagues, Bank colleagues and counterparts at FCA, HM Treasury and trade associations;

• Recruiting effectively, identifying talent, and developing the wider team through coaching and communicating a clear vision, so that the team is productive, engaged and motivated;

• Embracing and welcoming diversity of thought, promoting diverse representation with equal opportunities and demonstrating empathy and inclusion in behaviours; and

• Playing a role in the management of the Division (supporting the HoD) and the Directorate (supporting the Directors), contributing to cross-firm work and implementation of PRA-wide policies, and priorities.

Minimum (Essential) Criteria

• Good judgement and analytical skills \xe2\x80\x93 You should be capable of understanding and articulating the prudential risks posed by a variety of business models, exercise good judgement in determining effective strategies and be able to proactively identify risks. You should also demonstrate strong decision-making skills especially in high pressure situations;

• Effective influencing and stakeholder management \xe2\x80\x93 You should be good at maintaining effective relationships even at times when those relationships may need to become adversarial; commanding credibility with senior management in firms and other regulators and communicating clearly (orally and in writing) to a variety of audiences;

• Strong leadership and management skills \xe2\x80\x93 You should be a great people manager who enjoys supporting and developing staff with an ability to create and implement a shared vision, deliver outcomes through the work of others and set an example through effective prioritisation and with the ability to work flexibly and adapt rapidly to competing priorities; You should have an ability to take an inclusive approach to management, bringing out the best in and developing the talents of each individual given a variety of different backgrounds;

• Alignment with the Bank\xe2\x80\x99s behaviours \xe2\x80\x93 You will be expected to foster a diverse, inclusive and open culture within the Division, encouraging debate and challenge amongst staff - you should be able to role-model the behaviours that engender this kind of work environment; and

• Diversity, Equity and Inclusion \xe2\x80\x93 You should have a track record of leading and supporting Diversity and Inclusion initiatives and encouraging others to do the same.

Our Bank behaviours are embedded in all that we do. In summary the Bank behaviours are: Act Inclusively We want to build a truly inclusive culture to enable all colleagues to thrive. We will do this because it is the right thing to do and will make us even more effective. In acting inclusively, you will take action to earn trust and the confidence of others; embrace differences in perspectives and cultures and inspire purpose for people to do their best. Drive Growth We want to create a culture for all colleagues to unlock the potential by investing in personal career development to harness skills and capabilities required to achieve our business objectives now and in future and inspire high quality conversations. To drive growth, to do this every colleague is encouraged to have courage to overcome the fear to do what\xe2\x80\x99s right; demonstrate self-awareness for personal strengths and development; and develop talent by helping colleagues of all backgrounds to meet their goals. Delivers Outcomes We blend broad expertise and experience to succeed in delivering the Bank\xe2\x80\x99s Mission. To deliver outcomes, we focus on what matters most. We start by developing vision, exploring future scenarios and possibilities, responding to change and setting strategies to deliver the Bank\xe2\x80\x99s purpose. And, we achieve results by holding ourselves and other accountable to meet commitments.

Desirable Criteria You should not be put off from applying if you do not meet or do not have all of these criteria \xe2\x80\x93 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.

• Previous experience of supervision or analysing financial institutions;

• Previous experience of the credit union sector; and

• Previous experience of dealing with legal and policy issues.

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 specific role offers a base salary of circa \xc2\xa387,750 - \xc2\xa3101,250 per annum (depending on skills and experience) on a full-time basis. We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated 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.
• A 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 4 January 2024. Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.
The assessment process will comprise of two stages.
First stage interview will require a short presentation and competency based questions.
Successful candidates will move on to 2nd/final stage which will be a scenario/role play based interview to assess your supervisory and management judgement.
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.