Head of Division, Financial Market Regulation

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Organisation
The Bank of England
Locations

London, United Kingdom

Application Deadline
Reference
003876

Competitive Salary

Ref: 003876

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.

Role Description

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.

Job Requirements

  • This is a leadership role. You will need a strong background in building and motivating diverse and inclusive teams and providing excellent support for direct reports. You will be able to show evidence of leadership skills with an ability to set the direction of travel, invest in others, be decisive, think tactically and develop proactive solutions to problems.
  • This is a challenging role and ideally, the applicant will be an experienced Head of Division with previous experience of leading a division and delivering cross-Bank projects. Applications from experienced Senior Managers are also welcome.
  • Experience of a related area (such as financial stability, payments, settlement, central banking, prudential policy or FinTech) and to be able to demonstrate an ability to learn quickly.
  • You will have experience of policy design and/or leading projects where you have been responsible for shaping the approach and delivering through others and across boundaries.
  • You will need to be able to work flexibly, prioritise across competing demands and adapt accordingly.
  • Strong stakeholder management skills are essential and you will have experience of presenting to seniors/senior committees; communication, influencing skills and ability to tailor your style for your audience are therefore also critical.
  • Experience of international negotiations and/or influencing international policy, building international coalitions would be a plus.

Division Size: 36, of which six are direct reports.

We anonymise applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.

We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.

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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