Manager, Domestic Resolvability Division - Resolution Directorate-(010563)
Primary Location
:UK-ENG-London
Job
:Resolution
Organisation
:420001 - RESOLUTION DIV
Job Posting
:12-Mar-2024, 3:58:39 PM
Description
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 is the UK resolution authority and is responsible for both the execution of resolutions when necessary and developing policy to make banks more resolvable both within the UK and internationally and to implement the resolution part of the post financial crisis agenda. The Resolution Directorate is a team within the Bank that performs that function.
Department Overview
RD and our Divisions:
The Resolution Directorate (RD) is responsible for the Bank of England’s role as the UK resolution authority. We prepare for and, as needed, manage bank failure. RD is a relatively new, developing, and exciting area of financial regulation with high visibility amongst senior staff and the opportunity to make a real difference both domestically and internationally.
We are a highly diverse and varied directorate of c.110 people from a wide range of personal and professional backgrounds including policy analysis, supervision, central banking, economics, professional services and accounting, law, banking, credit rating agencies, and the wider public sector. This makes a diverse, stimulating, enjoyable and exciting place to work, where it is possible to learn rapidly from a wide range of colleagues and situations.
RD as a directorate works strives to be a great place to work; we offer variety and opportunity with individuals having regular access to seniors up to Governor level. Being part of RD means you will be intellectually challenged and developed in many ways. Inclusivity is key to everyone in RD and making sure our teams are supported and able to enjoy their work is vital.
What we do in DRD:
The Domestic Resolvability Division comprises 20 people. Simply put we are responsible for the resolvability of all domestic banks within the UK from some of the largest like Barclays right down to some of the smallest.
To deliver a credible resolution regime, we work with firms to support and assess implementation of resolvability policy so very much like our PRA supervisory colleagues. As part of this we meet regularly with the firms and with overseas authorities in the coordination of efforts internationally for cross-border firms. As required, we also lead and participate in carrying out live contingency planning such as the resolution of SVB UK in 2023.
The issues we deal with are often new and emerging and demand a broad set of skills. Finding effective solutions requires intellectual agility, the ability to understand and influence others, and a willingness to hold firms and others we work with to account. We work closely with the PRA, FCA, FSCS, HMT, overseas authorities, and others.
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.
This Scale E Manager role requires a capable, experienced individual ideally from a supervision or resolution background. As a manager in DRD you will have a broad portfolio so being comfortable managing a challenging and diverse range of work with competing priorities and deliverables is critical. Proven skills in planning, project management, problem-solving and delivering innovative and strategic solutions is also desirable.
You are also expected to have line management responsibility for between 2-3 individuals.
Key components of the role will include:
1. working with supervisors at the PRA and policy teams on setting expectations, monitoring and assessing firms’ implementation of resolvability;
2. engaging with firms and collaborating with senior executives in the firm, hosting and attending relevant international Crisis Management Groups and resolution colleges;
3. interacting closely with our counterparts at various overseas authorities such as the SRB, Federal Reserve and FDIC;
4. helping lead contingency planning teams and delivering resolutions if needed;
5. identifying emerging implementation issues from firms with resolvability policies and work flexibly with the relevant policy and technical teams to find common agreement on these;
6. where these emerge, helping to convene and steer ad hoc teams from RD and across the wider Bank on cross-cutting issues relating to firms’ resolvability;
7. as a line manager you will be setting objectives, coaching, guiding and helping to deliver through others.
8. developing your own and others technical and soft skills
9. playing a key role in the management team of RD.
Role Requirements
Minimum Criteria:
10. Experience doing supervision and/or resolution work, with an understanding of capital and liquidity.
11. Inclusive leadership skills, including the ability to contribute sensitively to development of the whole team, bring out the best in each individual given a variety of different backgrounds.
12. Highly motivated and capable of working autonomously, with a track record of managing a wide portfolio of work. Evidence of high standards of planning, leading and delivering both through others and independently.
Essential Criteria:
13. Versatility to adapt to rapidly changing priorities and the agility to re-prioritise quickly.
14. Line management skills or evidence of ability to coach and support the development of others.
15. Good problem-solving and analytical skills, evidencing ability to digest sophisticated information from a number of sources to develop robust conclusions.
16. Experience of/ability to influence a range of internal and external stakeholders, including seniors, with a track record of delivering results through building and maintaining strong working relationships.
17. Ability to present information clearly, concisely, and effectively (written and oral) across a range of seniority levels and adapt communication to the appropriate audience.
18. Relevant financial services experience including an understanding of banks’ balance sheets, businesses models, operations and risk and control environments.
19. An understanding of the UK or overseas resolution regimes.
#LI-CF1
Qualifications
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’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. 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.
Salary and Benefits Information
This specific role offers a base salary of circa £70,900 - £81,000 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 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. (Note that from April 2023 and for the Benefits year 2023/24, this will increase to 8%)
• 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
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 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 5th May 2024.
The assessment process will comprise of two stages.
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.