Policy Advisor, Asset Management Team

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 Bank of England's Financial Stability, Strategy and Risk (FSSR) Directorate works to secure a stable financial system that serves households and businesses in bad times as well as good. We are responsible for helping the UK Financial Policy Committee (FPC) identify risks to UK financial stability, assess the resilience of the UK financial sector and develop policy solutions to ensure UK financial stability.

Department Overview

The Market-Based Finance Division (MBFD) assesses risk to financial stability arising from financial markets and non-bank financial institutions. We help the Financial Policy Committee (FPC) to implement policies to mitigate these risks and to improve the UK financial system resilience. A lot of our work is in international groups such as the Financial Stability Board (FSB). We also work with people across the Bank of England, and with the Financial Conduct Authority, market participants and academics.
Job Description

In the Asset Management team, we strive to build and maintain an excellent understanding of the industry and the behaviour of real money investors in financial markets and commercial real estate. We used this to analyse and monitor risks that they pose to financial stability and devise effective and proportionate interventions.

The FPC highly values team's work and there are many opportunities to engage with the committee. The resilience of financial markets and non-banks is a top priority of the international policy agenda and there are lots of opportunities to participate in this.

As a Policy Advisor you will lead teams to take forward projects from planning to delivery to senior Bank stakeholders. Although these are not line management roles, there will be opportunities to manage 1-2 members of staff on a permanent basis, depending on preferences.

Some of the projects you could be involved in are:

• Work on policies for sectors such as Liability Driven Investments, Money Market Funds or Open-Ended Investment Funds.
• Participating in international workstreams related to Asset Management led by the Financial Stability Board or other international regulators. You will work closely with international counterparts and brief senior staff ahead of key international meetings.
• Collaborating with external counterparties including the FCA, international regulators and central banks, industry associations and market participants to understand their viewpoints and to explain and promote the Bank's position.
• Improving our ability to monitor risks arising from the investment management sector.
• Investigating new and emerging risk.

In MBFD, we work fluidly across teams to ensure to make best use of our versatile team members and help people develop their skills and interests. We also actively contribute to cross-divisional projects throughout FSSR. Alongside building expertise in your core role, you will be able to work on cross-Directorate and cross-Bank projects, allowing you to learn about a wide and varied set of issues affecting the Bank.

Role Requirements
Minimum Criteria

• Enthusiasm for and ability to deliver high-quality policy work.
• Curiosity for and appetite to learn about financial markets and non-bank financial institutions (previous experience in this area is not required).
• Ability to lead projects/pieces of work independently (with minimal oversight) and deliver through others.
• Stakeholder management skills and the ability to work collaboratively with colleagues from around the Bank and external organisations.
• Ability to explain and communicate complex topics to clearly and concisely and influencing senior members of staff.
• Good written communication and drafting skills.
• Commitment to improve diversity and inclusion in the organisation.

Desirable Criteria

Please do not worry if you do not meet a number of these criteria - we encourage you to get in touch to discuss what support you might need to close any gaps and to talk about other skills you might have which you think could be helpful in this role. These could include:

• Previous experience leading policy development projects.
• Practical knowledge or experience of how markets and/or non-banks work.
• Academic or professional qualification in finance, economics, data science or similar fields.
• Project management experience.

Our Approach to Inclusion

The Bank values diversity and inclusion – we 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 we support diversity and inclusion is through our staff run networks. This is something we strongly endorse and encourage in MBFD. All colleagues in our team have specific objectives related to promoting diversity and inclusion. Our Head of Division is also a co-chair of the Disability Network.

This role is open to job shares, flexible and part time working patterns. This is something we strongly endorse and support in FSSR, and in MBFD some members of staff work part-time.

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.

We are also committed to making adjustments for candidates and employees where possible and have partnered with external expert organisations to support us in this. We are a member of the Disability Confident Scheme, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

Salary and Benefits Information

This specific role offers a base salary of £70,300 per annum 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.
• 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.

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 ‘work history’ 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’s therefore 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.