The Bank and 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, 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. The Insurance Supervision Directorate promotes the safety and soundness of over 500 insurers operating in the UK. This includes general insurers, life insurers, friendly societies and the London market. We help identify and mitigate potential risks before they can have an adverse effect on policyholders and financial stability. We face a complex and challenging task, one that presents numerous opportunities to protect policyholders and UK financial stability and one that delivers real and lasting benefits to society. The Role This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness. The role offers a wide range of opportunities and brings a significant level of responsibility and is critical to the success of our prudential supervision strategy. Individuals in these roles will be embedded within a team and will have some line management responsibilities. The jobholders will need to work closely with and deputise for the team Senior Manager. The insurance industry is under significant external pressures. The firms we supervise have followed increasingly divergent business strategies as they operate in some of the most competitive and dynamic insurance markets. This environment present supervisors with a range of complex issues and supervisory challenges. Our supervisors come from a diverse range of backgrounds including the financial services industry, consulting and business advisory, accountancy, actuarial, compliance, non-financial industries, other parts of the PRA and the wider Bank. Job description You will be responsible for day-to-day management of assigned firm work for the team and for defining roles and responsibilities. You will develop others through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness. The primary focus of the job is to work with the Senior Managers to help lead and manage our supervision of the firms operating in the Retail Life Division. These roles will involve more working across teams with resources being flexed in accordance with risks faced by the firms we are supervising. Supervision roles offer you the opportunity to work in a varied and challenging environment and to put your analytical, problem solving and professional skills into practise. Responsibilities include: Line management, mentoring and coaching responsibilities; Working with the Senior Manager to help set the overall strategic direction for the supervision of firms, gaining approval from others as required; Responsibility for work planning and coordinating the work of the team(s) to ensure it delivers on its objectives and strategy within an agreed timeline. This include contributing to the oversight and planning of both firm specific as well as cross-firm work; Contributing to the delivery of individual cross-firm projects and being proactive in contributing ideas to the development of the cross-firm work programme; Building effective relationships with key stakeholders (both at the PRA and firms) and using these to influence outcomes, drawing on appropriate analysis and evidence; Building effective partnerships with specialists such as Actuaries, Legal, Policy, Banking, SRS and the FCA to help ensure our assessments are well grounded; Financial analysis informed by strong awareness of the markets and peer group in which the firm operates; Deputising for the Senior Manager where appropriate, both internally and externally; Contributing to ad hoc departmental and divisional initiatives and to take forward topical thematic issues or to explore new ways of working. Minimum criteria: Three years supervisory experience or equivalent. Understanding of the principles of Life Insurance and associated risks. Experience of successfully leading and delivering projects/assignments. Strong verbal and written communication skills. Able to demonstrate Bank behaviours. (The PRA's approach to insurance supervision: The Prudential Regulation Authority's approach to insurance supervision ) Number of direct reports: 1-2 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. 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 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. This role offers a salary in: Leeds ranging from £63,800 to £73,620 London ranging from £70,900 to £81,810 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 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. 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 Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis. 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. 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. The assessment process will comprise of one or two interview stages including a case study. This role closes on 23 February 2025 Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.