Non-Executive Director of Court of the Bank of England

Closed
Body: Bank of England
Appointing Department: HM Treasury
Sector: Business, Finance & Skills
Location: London
Skills required: Audit and Risk, Business / Commercial
Number of Vacancies: Up-to-4
Remuneration: £15,000 a year, rising to £20,000 if chairing a sub-committee of the Court.
Time Requirements: Estimated between 2-3 days per month.

Campaign Timeline

  • Competition Launched

    09/02/2022

  • Closed for Applications

    09/03/2022

  • Panel Sift

    Early April

  • Final Interview Date

    Early May

  • Announcement

    TBC

 

Assessment Panel

  • Tom Scholar

    Panel Chair

    Permanent Secretary, HM Treasury • Departmental Official

    Show more information

  • Charles Roxburgh

    Second Permanent Secretary, HM Treasury • Departmental Official

    Show more information

  • Diana 'Dido' Harding

    Deputy Chair of Court, Bank of England • Representative of Organisation

    Diana 'Dido' Harding's full title is The Baroness Harding of Winscombe

    Show more information

  • Terry Miller

    Non-Executive Director and Senior Independent Director, Galliford Try • Independent Member

    Show more information

Vacancy Description

The Bank of England is the central bank of the United Kingdom. The Court of Directors is the Bank’s governing board, and comprises the Bank’s Governor, the four Deputy Governors, and up to nine non-executive directors. Court manages the Bank’s affairs, and has responsibility for determining the Bank’s objectives and strategy, and for oversight of the Bank’s performance of its statutory and other objectives. Court is responsible for ensuring the effective discharge of the Bank’s functions and the most efficient use of its resources.

The Non-Executive Directors play a significant role in reviewing the Bank’s performance, risk and financial controls. They can expect to be appointed to one or more sub-committees of Court, including those for Remuneration and Audit and Risk. Non-Executive members of Court have the right to observe meetings of the three main policy committees of the Bank, the Monetary Policy Committee, the Financial Policy Committee and the Prudential Regulation Committee.

Non-Executive members of Court serve in a personal capacity. We are looking to appoint one or more new Non-Executive Directors of which one will become Chair of the Audit and Risk Committee, depending on the identification of suitable candidates. The estimated time commitment is between two and three days per month and the appointment is expected to commence in Summer 2022.

 

Person Specification

A Non-Executive Director of Court is likely to have substantial experience in one or more of the following:

  • Leadership at board level in a major financial services firm, a listed company or a substantial multinational corporation.
  • A prominent role either as Chair, Chief Executive, Managing Director or Executive Board member in a relevant area of public policy or the voluntary sector.
  • Building up a successful enterprise of a significant size themselves.

Candidates for the Non-Executive Director(s) position must be leaders within their chosen professions, with a strong technical and financial grasp in their field, combined with an interest in the wider public policy debate and in economic and financial policy in particular.

When appointing candidates, the Government judges it important to maintain a breadth and balance of skills and experience between all members of the Court. The main specific qualities that we are looking for in these appointments are:

  • A broad background in finance.
  • Undisputed integrity and standing, including the ability to maintain discretion and engender trust in staff, peers and stakeholders.
  • Excellent interpersonal and influencing skills, such as the ability to build strong relationships with other members of the Court, senior Bank officials and key stakeholders, and bring diversity of thought to the Court.

Other desirable skills and experience include:

  • Experience delivering organisational effectiveness, given the need for the Court to ensure the most efficient use of the Bank’s resources, including public funds.
  • Experience in audit and accountancy.

 

Attachments
NED Candidate Pack
NED Candidate Pack
diversity-monitoring-form-accessible
Public Appointment Recruitment Privacy Notice
Disabilty Conflicts and Political NED
Return to Search