External Member to the Prudential Regulation Committee
|Appointing Department:||HM Treasury|
|Sectors:||Business, Finance & Skills, Regulation|
|Number of Vacancies:||Up to 3|
|Time Requirements:||The PRC meets 15 to 20 times a year. The nature of the role will require flexibility.|
Closed for Applications
15/04/2020 at 00:00
Final Interview Date
Director General, Financial Services, HMT • Departmental Official
Deputy Governor, Markets and Banking, Bank of England • Representative of Organisation
Senior Adviser, Financial Conduct Authority • Independent Member
The Bank of England plays a vital role in ensuring the safety and soundness of the UK economy. The central bank of the United Kingdom, its role is to safeguard monetary stability and to protect and enhance financial stability. This year is an exciting time of change for the Bank as Andrew Bailey succeeds Mark Carney as Governor.
The Prudential Regulation Committee (PRC) governs the Prudential Regulation Authority (PRA) which is responsible for the prudential regulation of banks, building societies, other deposit takers, insurance companies and certain investment firms. Chaired by the Governor, and accountable to Parliament, the PRC takes the most significant and high impact supervisory decisions. It is responsible for overseeing and holding to account the PRA’s strategy and policy making functions, and for setting the levy on regulated firms. It also adopts the budget of the PRA.
The Government is seeking to appoint up to three external members to fill vacancies which arise from retirements in 2020/21. These are high profile and influential roles. Appointees will be independent and will not represent or lobby for individual groups, interests or sectors.
The work is highly varied and the Committee seeks to reflect that diversity in its composition.
Successful candidates will be strategic thinkers with excellent communication and influencing skills. They will have the ability to contribute across a broad range of topics and issues considered by the PRC.
They will bring:
- Ability to analyse complex issues quickly, think strategically and reach consistent, firm, balanced and independent judgements.
- A track record of building effective relationships and collaborating successfully at the highest levels within business and government.
- Undisputed integrity, and a willingness to challenge others’ viewpoints constructively.
- Proven track record working in or advising financial services organisations, ideally with knowledge of insurance, retail or wholesale banking.
The Bank of England and HM Treasury have strong commitment to diversity and equality of opportunity, and welcome applications from candidates irrespective of their background, gender, race, sexual orientation, religion, or age, providing they meet the required criteria. All disabled candidates (as defined by the Equality Act 2010) who satisfy the minimum criteria for the role will be guaranteed an interview with the Assessment Panel under the Disability Confident Scheme (DCS).
How to Apply
The application deadline has been extended to Wednesday 15th April 2020.
1) Please submit the following via www.odgers.com/75440:
- A comprehensive CV
- A covering letter which sets out your interest in the role and encapsulates the aspects of your experience relevant to the required criteria. Please include the names and addresses of three referees. Referees will not be approached without prior permission.
2) Please complete and send the following separately to PRC@odgersberndtson.com
- A disability confident scheme, political activity and conflicts of interest questionnaire which can be downloaded at www.odgers.com/75440. Treasury’s Public Appointment Recruitment Privacy Notice will also be included in this form.
3) Following receipt of your application you will receive an email prompt to complete an online Diversity Monitoring Form. This will assist the Bank and HMT in monitoring selection decisions to assess whether equality of opportunity is being achieved. Any information collated from the Diversity Monitoring Forms will not be used as part of the selection process and will be treated as strictly confidential.
All online applications will receive an automated response. Any postal applications should be sent to Anne Murphy, Odgers Berndtson, 20 Cannon Street, London EC4M 6XD.
This post is NOT regulated by The Commissioner for Public Appointments.