Policy Implementation Adviser - London, United Kingdom - Bank of England
Description
Policy Implementation Adviser - Future Balance Sheet Unit
-
(
010012
)
Primary Location UK-ENG-London
Job Market Operations
Organisation MARKETS STRATEGIC PRIORITIES
Job Posting 29-Nov-2023, 9:05:36 AM
Would you like to contribute to ground-breaking thinking on how central bank balance sheets should evolve to deal with a rapidly changing financial system? Would to you like to be part of a multi-disciplinary team that is addressing questions of critical importance to the Bank's Executive Directors and Governors?
The role of the Bank of England and Markets Directorate
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, made up of approximately 4,000 people - each committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
Within the Bank, the Markets Directorate promotes monetary and financial stability by leading the Bank's market operations, and by using our presence, expertise and influence in financial markets to inform and shape the Bank's policy decisions and priorities.
The Markets Directorate includes 7 Divisions, which are:
- Sterling Markets
- Foreign Exchange
- Market Intelligence
- Financial Risk Management
- Future of the Balance Sheet Unit
- Middle Office
- Markets & Banking COO
About the Future Balance Sheet Unit
The Future Balance Sheet Unit (FBU) sits within the Markets directorate of the Bank.
The work of the FBU is reaching an exciting stage in our work to enhance and update how the Bank is able to deploy its balance sheet to deliver monetary and financial stability.
- Developing new balance sheet tools to address systemic liquidity risks arising from nonbanks;
- Updating our framework for implementing monetary policy, including the assets we will hold to back the supply of reserves; and
- Analysing how the Bank's balance sheet can enable us to shape and deliver digital money such as CBDC;
Working in the FBU therefore provides an opportunity to see the policy process from the analytical design stage through to operational implementation.
The FBU has a mix of permanent and seconded staff and works closely with colleagues from across the whole Bank.
This ensures we have the necessary skills, experience and knowledge as the focus of our work evolves over the course of the Unit's life.
The Unit reports directly to the Executive Director for Markets, and frequently engages with the Governors.About the Policy Adviser Role
We are recruiting a policy adviser who can shape the output of the FBU by managing and driving forward policy change which arises from the FBU's work.
You will report to the Senior Business Change Lead, work closely with the FBU project management team and be part of the FBU's management team.
We are open to applicants from a wide variety of backgrounds.The three main requirements we are looking for are:
- Someone who has, or can quickly develop, a clear understanding of the FBU's work, objectives and policy programme.
- Someone who is able to drive forward policy and/or project change, including by engaging, managing and influencing many colleagues from across the Bank in order to deliver the FBU's policy aims.
- Someone who is able to work with a high degree of autonomy and respond effectively to changing circumstances.
But we would expect you to work on one or more of the following areas:
- The delivery of the first phase of the nonbank financial intermediary (NBFI)repo tool, which will see the Bank directly facing nonbank counterparties in our market operations for the first time. This project will involve a mixture of policy design, process design and implementation activities, working alongside core business teams, Technology, Legal Directorate and FBU project management staff.
- Progressing the nearterm change required to the Bank's monetary policy framework as the Bank's balance sheet reduces.
- The delivery of longerterm changes to the Bank's balance sheet, which could involve work on, for example, phase two of the NBFI repo tool which might be delivered through a different operating model and longerterm change to achieve the optimal asset composition for the Bank's balance sheet.
More broadly, as part of the FBU management team, you will be responsible for helping to ensure that our team work effectively together.
More jobs from Bank of England
-
Senior Commercial
London, United Kingdom - 3 days ago
-
Technology Change Delivery Analyst in M&B UAT Services
London, United Kingdom - 19 hours ago
-
Policy Adviser in Independent Evaluation Office
London, United Kingdom - 1 week ago
-
Senior Press Officer
London, United Kingdom - 2 weeks ago
-
Senior Researcher
London, United Kingdom - 3 weeks ago
-
Records and Information Administrator
London, United Kingdom - 3 weeks ago