Senior Supervisor, Financial Market Infrastructure

Bank of England and financial market infrastructure

Ever wondered what it’s like to work at the heart of the financial system, delivering financial stability for the UK? Whatever your background or current career, if you’re motivated to work with us we’d love to hear from you.

Financial Market Infrastructure Directorate (FMID) is at the heart of the Bank. We are responsible for supervision, policy and technical risk analysis of the infrastructure that sits at the core of the financial system - payment systems, central counterparties and central securities depositories. Our mission is to protect the UK economy by keeping the backbone of the financial system secure and reliable.

We offer an outstanding and exciting place to work in a highly collaborative directorate, undertaking work with strong links into numerous other parts of the Bank and international regulators. For more information on the work we do, see our latest annual report available https://www.bankofengland.co.uk/news/2022/december/supervision-of-financial-market-infrastructures-annual-report-2022.

The FMI Supervision Division sits within FMID and is responsible for the supervision of the firms that run the critical infrastructure upon which the UK financial system depends. Its aim is to secure financial stability in the UK, and where relevant globally, through delivering effective prudential supervision to secure high levels of financial and operational resilience.

What might I work on?

Work in FMI supervision is varied which means there’s always something exciting going on. You will use your growing analytical skills and financial understanding to deliver analytical assessments and understand the risks posed by the firms we supervise. You will share your findings internally, and will need to build relationships with the most senior leaders of UK financial firms to ensure our supervisory strategy is being implemented. All this means you’ll get plenty of opportunities to develop your technical and interpersonal skills through exposure to engaging and complex issues.

Our work is high profile. It is directly linked to two separate – but critically important – developments in the financial system: the post financial crisis landscape of mandatory central clearing; and changes and innovation in how people and businesses pay for goods and services. You might focus on anything from the newest payment system operators trying to shake up the status quo – to some of the largest and most sophisticated financial institutions globally.

Are you who we’re looking for?

If you’re motivated to work for us, we would love to work with you! We want inquisitive people who enjoy working collaboratively and who share our values of diverse ideas and open debate. We’re more concerned about what you can bring than what you know.

Minimum criteria

• Have a strong motivation to contribute towards the role and support the financial stability of the UK.

• A desire to promote an inclusive culture and working environment.

• Teamwork – ability to work collaboratively and inclusively with diverse colleagues, both inside and out of the team.

• Analysis – able to synthesise information from multiple sources, and reach evidence-based judgements (eg assessing and prioritising competing risks).

• Stakeholder management – strong (internal and external) stakeholder management and influencing skills.

• Good written and oral communication skills – ability to communicate complex information in a clear and concise manner.

Desirable criteria

• Supervisory (i.e. regulatory) or risk analysis / management experience.

Why should I apply?

Roles at the Bank of England are sought-after, if you have the determination to make a difference, we want to hear from you! Working in FMI supervision places you at the centre of our mission to deliver financial stability for the UK. It will suit anyone looking for a challenge and outstanding development opportunities.

We have a number of roles open (including a 12 month maternity cover). Supervision roles could involve working on retail card schemes, wholesale payment systems, central clearing counterparties, central securities depositories, or operational resilience. The skills required for the roles are the same. For more information on our supervision work, please see - Financial market infrastructure supervision | Bank of England.

Following initial sifting, successful candidates will be offered the opportunity to discuss specific roles further.

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 Disability Confident scheme. You can find more information on what this means here. 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.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV.

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.

Salary and Benefits Information

These specific roles offers a base salary of circa £ £48,000 - £60,840 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 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.

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. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed. Initial sifting of applications may be based solely on information provided in response to application questions.

The closing date for applications is 5 June 2023.

Following initial sifting, successful candidates will be assessed via both interview and case study.

National Security Vetting Process