Job Description

The Bank of England is the UK\'s central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

Join our award-winning legal team and work at the frontier of financial services to help maintain monetary and financial stability in the UK! We are looking for new colleagues who are willing to learn quickly, engage openly and rise to the challenge. We share information and insights freely. The work we do here is challenging and sometimes demanding, but always rewarding! This \xe2\x80\x93 together with the commitment of our lawyers, paralegals and dedicated support staff - is what why The Lawyer and LexisNexis both named our Legal Directorate the In-House Legal Team of the Year 2022!

For more information on our legal team, please follow this link on the .

Department Overview

Alongside the General Counsel\'s Office, the Legal Directorate is split into five main teams:

• Central Banking, which provides legal advice on the Bank\xe2\x80\x99s constitution and governance; Markets and Banking operations; commercial contracts, procurement and intellectual property; notes procurement, production and distribution; data and information management; employment policy and employee relations matters; and the Bank\xe2\x80\x99s financial and funding arrangements.
• EU & International, which provides legal advice on a range of trade and financial regulatory matters affecting the Bank including in connection with the UK\xe2\x80\x99s withdrawal from the European Union. Practice areas include:

• Advising policymakers on the reform of the UK\xe2\x80\x99s financial regulatory framework.
• Contributing to the Bank\xe2\x80\x99s role in negotiating trade agreements with international partners.
• Providing advice on EU and Brexit legal issues.
• Enforcement & Litigation, which leads investigations and the imposition of any enforcement sanction within the PRA. It runs the investigative process from inception to recommendations concerning the appropriate sanction. It also runs any settlement process, and any litigation should a matter be contested.
• Financial Stability, which provides legal advice on the regulation and supervision of Financial Market Infrastructure (such as central counterparties, payment systems and securities settlement systems), on macro-prudential policy and regulation and associated legal framework for the Bank\xe2\x80\x99s Financial Policy Committee and on the Bank\xe2\x80\x99s role as the UK\xe2\x80\x99s resolution authority.
• Insurance and Deposit Takers, providing legal advice to supervisors in relation to supervisory decision-making, and to policymakers in the PRA on capital, liquidity and other prudential requirements of banks, insurers and investment firms.

We are also supported by a Strategy and Operations team, who work with Champions across the Legal Directorate to organise a rich and regular programme of legal training and ensure that we share our knowhow through our bespoke inhouse legal wiki.



We are recruiting for a permanent \'Counsel, Legal\' role in the Enforcement and Litigation Division of the Legal Directorate.

ELD leads on enforcement, contentious matters and litigation, serving the whole Bank. Our work includes high-profile enforcement cases, attracting national media coverage, crafting the Bank\xe2\x80\x99s agenda on accountability and regulatory standards in a unique way. We are at the sharp end of some of the most challenging legal and reputational risks the Bank faces. The Division is also home to the Bank\xe2\x80\x99s Intelligence & Whistleblowing Function. ELD\xe2\x80\x99s responsibilities include:

• Leading investigations and the imposition of any enforcement sanction within the Bank. It runs the investigative process from inception to recommendations concerning the appropriate sanction. It also runs any \xe2\x80\x98settlement\xe2\x80\x99 process and litigation should the matter be contested;
• Leading on all litigation (Courts or Tribunals) involving the Bank and the PRA, as well as third party civil litigation issues, assisting other prosecuting authorities, e.g. the Serious Fraud Office, with requests for information which the Bank may hold, and statutory investigations under the Financial Services Act 2012 or otherwise;
• Supporting the Bank more broadly in the development of policy and the potential use of formal supervisory powers in a contentious setting; and developing Bank enforcement policy.

Responsibilities for a Counsel, Legal include:

• Providing user-friendly and pragmatic legal advice and support to all areas of the Bank on complex legal issues, with a focus on outcomes which help the Bank achieve its objectives.
• Day-to-day leadership of projects and subject matter specialist teams, with limited supervision from senior lawyers.
• Managing client relationships in connection with those projects and subject matter areas.
• Advising with impact at all levels of seniority within the Bank.
• Representing the Bank and the Legal Directorate credibly in discussions with external bodies such as HM Treasury and the FCA, building effective relationships with legal counterparts.
• Working openly and collaboratively in multi-disciplinary teams to scope and deliver against agreed timescales, ensuring that legal risk is adequately identified, managed and mitigated.
• Mentoring and coaching more junior colleagues.
• Routinely observing the Bank\xe2\x80\x99s document and record management protocols.
• Investing time in developing your own technical knowledge to develop expertise in the relevant practice areas.
• Contributing willingly to the implementation of strategic initiatives and always demonstrating Our Bank Behaviours.

Role Requirements

Minimum Criteria

• An experienced and qualified barrister or solicitor, with at least 4 years\xe2\x80\x99 PQE (whether in the UK or gained overseas).
• Experience gained as a practising lawyer in a law firm, or in-house at a financial institution, public body, or other private company with relevant experience in litigation, financial services or regulatory matters.

Essential Criteria

• Deep technical knowledge and ability to provide pragmatic advice which consistently and clearly identifies, manages, and mitigates legal risk in a variety of contexts.
• Ability to build effective working relationships internally and externally, adapting styles to achieve credibility and impact at all levels.
• Curiosity and problem-solving skills, with a desire to develop expertise in new technical areas, and to do so quickly, seamlessly, and to a consistent high standard.
• Ability to adopt an inclusive, ethical and professional approach, with track record of investing in self and others to improve awareness and behaviours which contribute to diversity.
• Flexibility to work collaboratively or autonomously, with limited supervision and to manage projects with challenging deadlines across multiple matters.
• Willingness to accept and learn from feedback and proactively identify areas for personal and professional development.

Qualifications

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\xe2\x80\x99s by drawing on different perspectives and experiences that we\xe2\x80\x99ll 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 the Disability Confident scheme. You can find more information on what this means . If you wish to apply under this scheme, you should check the box in the \xe2\x80\x98Candidate Personal Information\xe2\x80\x99 under the \xe2\x80\x98Disability Confident Scheme\xe2\x80\x99 section of the application.

Salary and Benefits Information

This specific role offers a base salary of circa \xc2\xa369,160 - \xc2\xa387,660 per annum (depending on skills and experience) on a full-time basis. 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:

• 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.
• A discretionary performance award based on a current award pool.
• A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. (Note that from April 2023 and for the Benefits year 2023/24, this will increase to 8%)
• 26 days\xe2\x80\x99 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 the Bank\xe2\x80\x99s Privacy Notice at

The Application Process

Important: Please ensure that you complete the \xe2\x80\x98work history\xe2\x80\x99 section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It\xe2\x80\x99s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

The closing date for applications is 25 August 2023.

The assessment process will comprise of two interview stages.

Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.

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Bank of England