Policy Technical Specialist - London, United Kingdom - Bank of England

Bank of England

Verified Company

London, United Kingdom

2 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Policy Technical Specialist - Liquidity Policy team (Prudential Policy Directorate)

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(

008946

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Primary Location UK-ENG-London

Job Policy

Organisation PRUDENTIAL FRAMEWORK DIVISION

Job Posting 16-May-2023, 5:52:08 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.

Prudential Policy Directorate are responsible for designing, negotiating internationally and implementing effective prudential regulation in order to remove or reduce systemic risks, promote the safety and soundness of PRA-regulated firms and ensure appropriate protection for insurance policyholders.

PPD supports both the Prudential Regulation Committee and Financial Policy Committee in fulfilling their objectives.

Department Overview
Prudential Policy Directorate has five divisions. This role is in
Prudential Framework Division (PFD).

PFD promotes the resilience of the financial system by ensuring the Bank has a prudential framework that is fit for now and in a changing world.

We do this by focusing on the big framework questions in banking regulation - looking at issues relating to capital, liquidity, the macro-prudential toolkit, and innovation.

We look at these issues from both a micro and macro-prudential perspective, providing advice to FPC, PRC and to international committees on: the design of frameworks and tools; economic analysis and evaluation of how regulation is working; and strategies to address gaps or fault-lines.

We own and maintain key parts of the banking rulebook, including liquidity & funding and the leverage ratio.

The role is on the
Liquidity Policy team.

The team is responsible for the policy framework delivering resilience to liquidity and funding risk (including the Liquidity Coverage Ratio and the Net Stable Funding Ratio, and liquidity Pillar 2 framework).

Our mission is to ensure this framework delivers adequate resilience, with sufficient flexibility so that banks can absorb rather than amplify shocks.

Job description
An exciting new opportunity for a
Policy Technical Specialist has become available on the Liquidity Policy team.

In this role, you will contribute to the team's important mission of ensuring that the policy framework for resilience to liquidity and funding risk delivers adequate resilience, with sufficient flexibility so that banks can absorb rather than amplify shocks.

You will lead autonomously on key workstreams and will provide expert advice to colleagues around the Bank, at a time when the Bank is taking on new powers and responsibilities for policy making, and when domestic and international work is considering the lessons to be learned following recent bank failures.

You will also be part of the wider team management, sharing responsibility for setting strategy, alongside the senior manager and other senior members of the team.

We will work together to make sure the team delivers, is inclusive and has a clear strategic focus, and that team members can grow and thrive.

You will often work together with more junior members of staff and will manage their performance on a task and support their development, and you will actively share your expertise with the team.

Given the breadth of work the team does, there is flexibility to tailor your policy work to reflect your experience, interests and development path.

You will have the opportunity to lead work for senior staff at the Bank - including for PRC - as well as to influence international policy development.

The team has a full programme of challenging and interesting work including:

Deciding on what changes to the prudential liquidity framework might be appropriate following recent bank failures;
Maintaining the integrity of the policy framework, by identifying and filling gaps and clarifying where unclear rules lead to inconsistent outcomes;
Addressing key issues with the framework, including banks' reluctance to draw on liquidity buffers in stress; cyclicality; and the framework's overall calibration;
Leading the development of simplified liquidity requirements for small firms, while maintaining resilience, as part of the PRA's 'strong and simple' regime;
Reviewing and refining the suite of regulatory liquidity returns, improving their efficiency and effectiveness;
Responding to the opportunities and challenges of making policy outside the EU.

We are thought leaders in the design of policy. We place a high value on clear, insightful analysis and actively pursue research and long-term analysis.

We work closely with colleagues in Supervision and SRS, in FSSR, in Markets and Banking, and in RD, as well as around PPD.

Because the core pruden