Policy Technical Specialist for The Pra's Cost - London, United Kingdom - Bank of England

Bank of England

Verified Company

London, United Kingdom

1 week ago

Posted by:

Tom O´Connor

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Description

Policy Technical Specialist for the PRA's Cost Benefit Analysis Panel
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(010358
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Primary Location UK-ENG-London

Job Policy

Organisation STRATEGY AND POLICY APPROACH DIVISION

Job Posting 12-Feb-2024, 6:37:43 AM

We are looking for a Scale E Policy Technical Specialist to support the work of the Bank of England Prudential Regulation Authority's (PRA) newly established Cost Benefit Analysis Panel (CBA Panel).

The role will be seconded to the CBA Panel and report to the Senior Manager of the Competition and Quantitative Impact team, within the Prudential Policy Directorate (PPD).

CBA Panel

Under FSMA 2023, the PRA is required to establish and maintain a Cost Benefit Analysis Panel (CBA Panel) to provide advice in relation to cost benefit analyses (CBAs).

The Bank of England as regulator of financial market infrastructures (FMIs) is also required to consult this panel.

The CBA Panel will provide support on CBAs including advising on individual CBAs and providing recommendations for how the regulators can improve their overall methodology and approach to CBA.

The PRA is the UK's prudential regulator for deposit-takers, insurance companies, and designated investment firms.

The PRA's primary objectives are to promote the safety and soundness of firms, and to contribute to securing an appropriate degree of protection for insurance policyholders.

The Bank of England as regulator of FMIs is responsible for supervision, policy and risk analysis on the infrastructure that sits at the core of the financial system - payment systems, central counterparties, and central securities depositories.

The main role of the CBA Panel will be reviewing CBAs published by the PRA and the Bank of England as regulator of FMIs and reporting their views on the content of those CBAs.

The CBA Panel will be composed of senior financial services and CBA experts.

Directorate overview

PPD is 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.

The Strategy and Policy Approach Division (SPAD) is one of five divisions in PPD.

SPAD sets the overall strategy and approach for prudential policymaking in line with our vision for accountable, dynamic and accessible regulation.

The division also supports PPD on:

the identification and selection of policy priorities; ensuring a credible regulatory framework; and that policy is appropriately grounded in economic analysis.

The Competition and Quantitative Impact Team (CQI) in SPAD leads on the implementation of the PRA's secondary objectives and the provision of CBA guidance to policymakers.

The team provides economic advice to policymakers at all stages of the policy-making cycle, including evaluation.

It uses a variety of analytical tools to help with policy calibrations and aid the PRA's understanding of the ways in which policies interact.

Job description
We are looking for a scale E Policy Technical Specialist to support the work of the CBA Panel.

You can expect to:
- work collaboratively with a supportive team of experienced economists and policy makers
- interact closely with the CBA Panel's members and chair, the CBA Panel's secretariat and colleagues from across the PRA and Bank of England who will present to, and engage with the, the CBA Panel.
- build a close working relationship with the CBA Panel by supporting and advising its members, including: helping the CBA Panel prepare for engagements with policy staff, undertaking independent analytical work on behalf of the CBA Panel, and supporting the CBA Panel's members prepare for external engagements such as with the Treasury Select Committee.

Your day-to-day tasks will involve significant senior stakeholder engagement. You will have a significant degree of autonomy on how you and the CBA Panel want to work together.

Within the role, there is scope to influence the CBA Panel's ways of working and propose improvements for how the CBA Panel operates and how policy staff interact with the CBA Panel.

To support you, there will be lots of advice, guidance and on-the-job training from the close knit and mutually supportive CQI team.

If a flexible high-impact role, designed around you, working on important high-profile issues sounds appealing please get in touch for more information and then apply.

Role Requirements
You will be genuinely interested in the work of the CBA Panel, financial regulation, and evidence-based policy making.

You will feel excited by the opportunity to contribute to ensuring that the PRA and the Bank of England design and implement the best possible policies.

Minimum Criteria