- Central Banking, which provides legal advice on the Bank's constitution and governance; Markets, Banking and Payments operations; commercial contracts, procurement and intellectual property; notes procurement, production and distribution; data and information management; employment policy and employee relations matters; and the Bank's financial and funding arrangements.
- Enforcement & Litigation, which leads on contentious matters including investigations and the use of regulatory enforcement powers in relation to UK regulated financial services businesses. It manages delicate legal processes from inception to conclusion, including advising on strategy, settlement discussions and, if unresolved, court proceedings.
- Financial Stability, which provides legal advice on the regulation and supervision of Financial Market Infrastructure (such as central counterparties, payment systems and securities settlement systems), on macro-prudential policy and regulation and associated legal framework for the Bank's Financial Policy Committee and on the Bank's role as the UK's resolution authority.
- Insurance and Deposit Takers, providing legal advice to supervisors in relation to supervisory decision-making, and to policymakers in the PRA on capital, liquidity and other prudential requirements of banks, insurers and investment firms.
- International and Domestic Reform Division, which leads on legal support for cross-cutting matters such as the Bank's role in negotiating trade agreements with international partners, the post-Brexit legislative reform programme being implemented through the Financial Services and Markets Act 2023, and climate and environmental matters.
- With support from senior lawyers, developing and applying technical knowledge, understanding and judgment to provide legal advice and support to all areas of the Bank on legal issues, with a focus on outcomes which help the Bank to achieve its objectives.
- Advising a range of colleagues across the Bank, including liaising with colleagues who do not work with lawyers on a regular basis.
- Working in multi-disciplinary teams to scope and deliver against agreed timescales, ensuring that legal risk is adequately identified, managed and mitigated.
- Working openly and collaboratively in teams internally and with external bodies.
- Investing time in developing your own technical knowledge to develop expertise in the relevant practice areas.
- Contributing willingly to the implementation of strategic initiatives and demonstrating the Bank's values at all times.
- Legal qualification: Applicants should typically be qualified to practice as a Solicitor, Barrister or Chartered Legal Executive in England and Wales, or equivalent in Scotland or Northern Ireland, usually with up to 4 years' PQE but can be longer, for example if returning after a career break. We may also accept applications from:
- current trainees, pupils or apprentices who will qualify before 30 June 2024 (any offer will be subject to qualification).
- candidates qualified to practise as a lawyer overseas where the candidate can demonstrate that they have legal experience that is directly relevant to the legal work described in this job description. [CJ1]
- Experience gained in a law firm or chambers, or in-house at a financial institution, public body or other private company.
- Experience from or related to one or more of the practice areas highlighted above.
- Ability to use and develop appropriate technical knowledge to provide advice which consistently and clearly identifies, manages and mitigates legal risk.
- Sound legal analytical, drafting skills and project management skills.
- Developing legal risk awareness, including an ability to build solutions and deliver pragmatic outcome-focused judgments that take account of the business environment.
- Ability to adapt your style and build effective working relationships with internal and external stakeholders.
- Ability, over time, to develop networks across the Legal Directorate and the wider Bank.
- Ability to put forward ideas credibly at senior levels.
- Ability to work flexibly and to challenging deadlines across multiple matters.
- Curiosity and problem-solving skills, with a desire to develop expertise in new technical areas, and to do so quickly, seamlessly, and to a consistent high standard.
- An approachable, personable and professional manner, able to work collaboratively as part of a team or autonomously (with support), as required.
- Strong levels of ethical behaviour and self-awareness, with a willingness to accept and learn from feedback and proactively identify areas for personal development.
- A good understanding of and interest in the Bank's mission, responsibilities and priorities.
- Some public law knowledge or experience.
- 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' annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
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Legal Counsel in ENFORCEMENT - London, United Kingdom - Bank of England
Description
Job DescriptionThe 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.
Join our award-winning legal team and work at the frontier of financial services to help maintain monetary and financial stability in the UK We are looking for new colleagues who are willing to learn quickly, engage openly and rise to the challenge. We share information and insights freely. The work we do here is challenging and sometimes demanding, but always rewarding This - together with the commitment of our lawyers, paralegals and dedicated support staff - is why The Lawyer and LexisNexis both named our Legal Directorate the In-House Legal Team of the Year 2022
For more information on our legal team, please follow this link on the Bank's legal career page.
Department Overview
Alongside the General Counsel's Office, the Legal Directorate is split into five main teams:
Job Description
We currently have up to 4 scale F roles in the Central Banking Division, Enforcement & Litigation Division.
Responsibilities for a Legal Counsel include:
Minimum Criteria
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 Disability Confident Scheme. 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
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:
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 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 assessment process will comprise of two interview stages. (Amend and add brief details if relevant, such as interview/assessment dates or process for your specific role)
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.
About Us
We are the UK's central bank - and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.
Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people's money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work.
It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.
There's much to gain from working with us - from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.
Join us and find a bank like no other. Together, we can make a difference.
The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you're successful we'll use it to offer you a position and onboard you to join the Bank.
If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice
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