Senior Supervisor in Branch Supervision Team

Bank of England; Leeds; Hybrid; GBP 49,000 - 61,000; Full time

Benefits offered by this job

Non-contributory pension

Discretionary performance award

Private medical insurance

Flexible working / job-share

Job summary

Bank of England is recruiting a Senior Supervisor to join the Insurance Branch Supervision Team in the PRA’s Insurance Directorate. The role involves leading engagement with insurers across Leeds and London, applying supervisory best practices and delivering assessments of firm risk while collaborating with overseas supervisors.

You will work across a diverse set of backgrounds, with flexible working options and opportunities to develop both technical and leadership skills within a central bank

Qualifications

• Pro-active, strong analytical skills and the ability to communicate credibly with internal and external stakeholders.
• Experience or motivation to learn about Financial Services and regulation.
• Ability to draw conclusions from financial information and recommend remedial action.

Responsibilities

• Lead engagement with firms at a senior level and challenge executives and boards as needed.
• Collaborate with internal teams to ensure supervisory strategy is implemented.
• Investigate issues, dig deeper when risks are identified, and share findings with the team.

Skills

Analytical skills

Communication

Influence senior colleagues

Stakeholder management

Independent working

Education

Regulatory or policy making experience

Job description

Senior Supervisor in Branch Supervision Team

• Leeds, United Kingdom
• London, United Kingdom

Job Description

Location: Leeds or London

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.

The Retail & Commercial General Insurance Division (R&CGI) supervises a broad range of insurers including retail and commercial general (non-life) insurers in the UK of various sizes and a portfolio of smaller general and life insurers, including insurance branches and the run-off sector. 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.

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.

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.

Insurance Directorate is fully committed to diversity and equality for all staff. This role can be carried out as part of a job-share arrangement and / or with flexible working. Applications are invited from staff who work, or wish to work, part-time, as well as those who wish to work full-time. Join us, and you will get the training, support and tailored working options to build a lasting career within the PRA or the wider Bank. Expressions of interest are invited for those wishing to work in London or Leeds.

We are recruiting for a Senior Supervisor to join the Insurance Branch Supervision Team (BST) within the Retail & Commercial General Insurance Division of the PRA’s Insurance Directorate. Following the end of the Brexit transition period, the PRA has taken on responsibility for supervision of a large number of branches of international firms operating in the UK, subject to a modified set of rules relative to UK based subsidiaries. The PRA is now a host supervisor with responsibility for supervision of a large number of branches and the team is responsible for embedding best practice for supervision of these branches.

Supervisors are responsible for leading engagement with firms at a senior level, providing strong challenge to executive and Board members where needed and represent the PRA and Bank. Previous supervisory experience is not a pre-requisite, as the precise responsibilities will be tailored to the competencies, aptitude, and aspirations of successful candidates.

Role Requirements

Day-to-day, you’ll use your analytical skills to deliver assessments and understand any risks firms might pose to our objectives. To do this, you’ll interact with firms and overseas supervisors to build an understanding of how they work. And when things don’t look quite right, you’ll investigate issues and dig deeper.

Plus, you’ll share your findings with the wider internal team and work to ensure our supervisory strategy is being implemented. The mixture of high-profile work and complex issues means you’ll have plenty of opportunities to develop both your technical and interpersonal skills.

You will gain experience of supervising insurance branches and in doing so you’ll need to be curious, ready to learn and keen to share ideas. You’ll enjoy analysing problems and be open to discussing and debating issues. All of this will lead you to investigate different issues and make good judgements. And with plenty of self-motivation 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 and influence both people and decisions.

• Pro-active, strong analytical skills, ability to communicate with credibility in front of internal and external stakeholders.
• Effective relationship management, including an ability to influence senior colleagues. Able to work independently as part of a team, coach more junior colleagues and to challenge constructively by bringing a diverse set of views and perspectives.
• Existing financial services experience or a demonstrable motivation to learn about Financial Services
• Ability to draw reasonable conclusions from a range of financial information and recommend appropriate remedial action.
• Commercial awareness and an understanding of the impact of external factors and industry trends.
• Excellent organisational skills to proactively prioritise and manage workload.
• Excellent interpersonal skills to be able to build and maintain relationships with colleagues and external stakeholders.
• Ability to produce clear, concise, and structured written communication tailored for different audiences.

We welcome applications from individuals who have experience, or transferable skills, from a previous role, where you can demonstrate the ability to use analytical skills to apply judgement or influence a stakeholder.

One or more of the following would be particularly welcome:

• Existing supervisory, academic, or work experience in regulation or policy making.
• Awareness of the PRA’s approach to authorising and supervising insurance third country branches.

You should not be put off applying if you do not meet/ have all of these criteria – we would encourage you to get in touch to discuss what support you might need to close any gaps and/or any other skills you might have which you think could be helpful in role.

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 theDisability 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

The salary on offer in Leeds is salary ranging from £48,640 to £54,720 and in London from £54,080 to £60,840.

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:

• Currently 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. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
• 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 theBank'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 assessment process will comprise of at least one interview.

This role closes on 18th March 2025

About Us

We are the UK's central bank - and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.

Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people's money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work.

It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.

There's much to gain from working with us - from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.

Join us and find a bank like no other. Together, we can make a difference.

The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you’re successful we’ll use it to offer you a position and onboard you to join the Bank.

If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice

Job Info

• Job Identification 967
• Job Category Central Banking (inc. Supervision, Policy & Regulatory)
• Job Schedule Full time
• Locations London, EC2R 6DA, GB Yorkshire House, Leeds, LS1 5SH, GB
• Base Salary Leeds salary ranging from £48,640 to £54,720 and London from £54,080 to £60,840