Description About the Programme Our Career Returner Programme offers a paid placement of 12 months, starting in March 2025, with the possibility of a permanent role at the end of the programme. You will receive coaching support from Career Returners to help you to transition successfully back into the workplace. Flexible working options are available and you will also be paired with a Bank buddy. Policy roles will be located in the Bank’s Leeds city centre location. Colleagues are expected to spend a minimum of 40% of their working time in the office per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team. Who are we looking for The Programme is aimed at people who have had a career break of two or more years at the start of the programme in March 2025. You must be willing to learn across a broad range of disciplines, have good analytical and problem-solving skills, combined with the ability to process, interpret and question large amounts of complex data, and work collaboratively as part of a dedicated team. The ability to communicate your findings effectively is also vital, both in person and in writing, as well as the ability to manage other important priorities/projects alongside your day-to-day job. Professional work experience is a must, because you’ll need the ability to influence and operate at a senior level. The right skills are more important than the right background. Financial experience is not essential for all roles, though would be beneficial. The current Bank of England PRA teams include people from a range of backgrounds such as science, government, civil service and the military. About PRA Policy These policy opportunities sit within our Prudential Policy and Strategic Risk Operations (SRO) Directorates. The way that the PRA supervises firms is based on policies that ensure judgements about risks to our objectives are made within a clear and coherent framework. If you join one of our Policy teams, you’ll be involved in setting effective policy in the UK and helping shape it internationally. Your work will be impactful and have real reach as what we do affects PRA-regulated firms and their customers and influences the future of the regulatory framework. You’ll be getting to grips with complex policy issues and explaining these in a clear and compelling way, influencing decision makers domestically and internationally. Prudential Policy Directorate (PPD) The Prudential Policy Directorate (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. Strategy, Risk & Operations (SRO) SRO is central to the delivery of the PRA’s strategy, we partner with business and central functions of the Bank to ensure the PRA is equipped to deliver its objectives and the enable the PRA to respond to changes in risk dynamically. The Directorate is split into four divisions, and successful candidates will join the PRA Communications and Policy Delivery team in the Chief Operating Office Division (COO). The Policy Delivery Team provides guidance and advice on the PRA’s policy making process, and reviews policy materials to ensure that we are meeting our legal and regulatory obligations, prior to publishing. About the work You will have the opportunity to work on important and interesting policy issues and learn the development cycle of policy proposals from an idea to its finalisation. Included below are a number of recent policy publications: PS10/24 – Review of Solvency II: Reform of the Matching Adjustment | Bank of England PS12/24 – The PRA’s approach to rule permissions and waivers | Bank of England PS78/24 – Securitisation: General requirements | Bank of England We have a range of roles, and the work you’ll be involved in is varied. You may be involved in reviewing domestic and international policy literatures, contributing to the drafting of publications, and leading the development of policy proposals. You could find yourself handling relationships with technical experts in firms and industry bodies, conducting research, or working across boundaries and collaborating with other teams and areas of the Bank. Everything you do will help to ensure we’re able to effectively deliver and maintain our prudential policy so that regulated firms can engage directly with our policy materials and ensure they meet the expectations set out in them. About the skillset We’ll match you to a role that builds on your strengths. So instead of having specific experience, you’ll need to be curious, ready to learn and keen to share ideas. You’ll be comfortable tackling topics that may be complex and unfamiliar, digesting and assessing new information and working through the issues to find solutions. Your ability to take ownership of a piece of work, take issues from problem to solution, and pre-emptively identify and manage risks to delivery will allow you to make a meaningful impact in the work you do. And with plenty of self-motivation, excellent prioritisation and initiative, you’ll be able to set your own targets and work to deadlines. Importantly, you’ll have the ability to manage different stakeholders, managing conflicting views and building consensus and challenge to influence both people and decisions. The mixture of high-profile work and complex issues means you’ll have plenty of opportunities to develop both your technical and interpersonal skills. Minimum Criteria Stakeholder management skills: You know how to build and maintain relationships with both internal and external stakeholders at all levels of seniority, you know how to get buy-in from colleagues and key stakeholders for difficult decisions. You’re able to communicate effectively and collaboratively with stakeholders and know how to vary style to the circumstances. Strong communication skills : You’re skilled in explaining complex technical issues accurately and succinctly and can flexibly adapt communication styles to an audience with varied backgrounds, including non-technical audience and decision makers at senior levels. Strong analytical and critical thinking skills : You’re able to gather and analyse information to inform your work and have the ability to digest and assess new information and issues, to propose convincing policy recommendations, and provide challenge when required. Attention to detail : You have strong attention to detail skills, which will allow you to conduct thorough analysis and ensure you’re able to deliver high quality output with strong attention to detail. Desirable Criteria Experience gained in a policy or analytical setting Practical or theoretical knowledge and experience of prudential regulation 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. 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 Salary: £47,430 - £54,720 per annum depending on the role and skills and experience held. 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. An 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. Dental insurance level 1 National Security Vetting Process 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 apply online and 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. Your application will not be considered if all mandatory questions are not fully completed. The closing date for this role is 20 th October 2024 at 23:59.