The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people. FMID oversees all aspects of the regulation of Financial Market Infrastructure in one directorate, bringing together supervisors, policy experts, risk specialists and researchers in one place. The team supervises some of the most systemically significant firms in the world, including the UK's central counterparties (CCPs), payment systems and central securities depositories (CSDs). The work involves external engagement facing, requiring collaboration across the Bank, with colleagues at HM Treasury and the FCA, and with our international counterparts. Department Overview
In FMID (the Financial Market Infrastructure Directorate), you will work in a directorate leading on some of the most innovative and important changes in today’s financial system. FMID is responsible for supervision and policy related to the infrastructure that sits at the core of the financial system, including the UK’s – and in some cases, the world’s – most systemically important payment systems, central counterparties (CCPs) and central security depositories (CSDs).
FMID is unique within the Bank of England in that it brings together supervisors, policy leads, risk specialists and data analysts in one place. People in FMID include policy analysts designing a regulatory framework that will keep pace with innovation and identifying global challenges and opportunities and supervisors pushing positive changes that impact across entire markets.
The Head of Division will lead and run a 36-member division that has grown significantly in recent years reflecting its growing profile and importance. The role holder will also work collaboratively as part of a 4-member Senior Leadership Team that works together to make the entire 97-member FMI directorate a great place to work.
The FMI Regulation division encompasses five teams: the Payments Policy team, the Clearing and Settlement Policy team, the FMI Data Team, the CPMI Secretariat, and the FMI Project Pool. We are looking for a Head of Division to lead this dynamic division, establishing a clear strategy for UK and cross-border FMIs, and delivering through close collaboration with others. The Head of Division will play a key role in shaping the domestic and international policy agenda for payment systems, CCPs and CSDs. Shaping the regulatory response to innovation in payments is a top priority for FMID and the wider Bank.
Stakeholder engagement is a significant part of this role. There are many internal stakeholders. Key domestic stakeholders include FCA, HMT and the Payments System Regulator; and there is engagement with international bodies (such as G7, G20, FSB, CPMI), as well as with the EU and the US.
Division Size: 36, of which six are direct reports.
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The closing date for applications is Friday 7 August 2020.
To apply please use the link provided, ensuring that you answer the application questions, complete the work history and submit your CV.
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