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 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.

On 1 April 2013 the Prudential Regulation Authority (PRA) became responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. The PRA was created by the Financial Services Act (2012) and is part of the Bank of England.

PRA Strategy, Risk & Operations Directorate is central to the delivery of the PRA\xe2\x80\x99s strategy by facilitating, challenging and assuring the PRA\xe2\x80\x99s work, as a peer and partner.

• Acting as a centre of operational excellence - partnering with the business and central functions of the Bank to ensure the PRA is equipped to deliver its objectives and evolving regulatory remit.
• Facilitating the measurement, aggregation and comparison of risks in a clear and coherent way, to enable the PRA to respond to changes in risk dynamically and to drive decisions on prioritisation, business planning and resourcing.
• Maintaining the integrity of the PRA\'s decision making framework and supervisory approach, including challenging and assuring the quality of supervisory practices and judgements.
• Supporting the delivery of the PRA\'s objectives through the publication of its internal and external communications.
• The directorate is also responsible for maintaining the PRA\xe2\x80\x99s overall strategy by overseeing the delivery of the PRA\xe2\x80\x99s Strategic Review Workstreams.

The Directorate is split into three divisions:

PRA Chief Operating Officer\xe2\x80\x99s Division (COO)
COO has a broad range of responsibilities including, amongst other things, supporting the operations of the PRA\xe2\x80\x99s directorates, supporting the delivery of the PRA\xe2\x80\x99s investment portfolio, business planning and budgeting, performance reporting and production of management information, and delivering the PRA\xe2\x80\x99s publications.

PRA Governance and Controls Division (G&C)
G&C provides the secretariat function for PRA Committees and deals with complaints made against the regulator. It owns the PRA\xe2\x80\x99s supervisory approach, ensuring clear and consistent expectations and supports the supervisory directorates with management information to enable clear compliance. It is also product owner for the technical platform used by supervisors, ensuring that it reflects the requirements of supervision.

PRA Risk and Assurance Division (RAD)
RAD reports on the quality and effectiveness of supervision through firm specific and thematic reviews with the aim to promote high quality, forward looking and judgement led supervision. It assesses and reports on the PRA\xe2\x80\x99s own operational risks and the sector risks that firms are managing with the aim to strengthen the linkage between our risk identification, setting the PRA\xe2\x80\x99s policy and supervision priorities and resourcing decisions. It also provides a central resource that is deployed on crystallising risks and other organisational priorities.

Department Overview

The COO Division is a vital bridge between business functions and the central functions of the PRA, working in partnership to set up and maintain processes and systems required to deliver our objectives. The division consists of the People and Operations team; PRA\xe2\x80\x99s Communications and Policy Delivery team; Finance, Planning, Performance and Analysis team; and the Systems, Change and Banking Data team (SCBD).

A product Enablement team has been set up within the SCBD team in 2023 to support the Continuous Delivery of two key regulatory applications - The Banking Sector Monitoring Renewal (BSMR) platform and the Risk & Work Manager (RWM) platform. The team has three areas of responsibilities \xe2\x80\x93 Training & Support, Communications and Continuous Improvement.

Job description

The PMO will support the Business as Usual (BAU) operating model for the continuous improvement of the PRA strategic products. This may include:

• Implementing a new framework and leading on governance processes for strategic products.
• Preparing materials for Governance meetings including agendas, board reports and financial forecasts.
• Producing minutes to recording decisions made and track actions.
• Proactively monitoring product deliverables against cost expectation including management of actual and forecast costs and liaising with the COO Planning function to ensure these remain withing the allocated budget envelope.
• Leading reporting processes for the BAU model, setting out standards and defining reporting timetables to ensure provision of reliable and consistent management information.
• Planning, implementing, and managing programme-level RAID (risks, assumptions, issues, and dependencies) and proactively proposing solutions where issues have been identified.
• Working with Technology leads to seek/organise resources for the delivery teams.
• Drive continuous improvement through benefit review and process design/review.
• Stakeholder management across a diverse set of leaders who may have opposing priorities.
• Provide support to the communication and training specialists within the team.

Role Requirements

Minimum Criteria

A proactive self-starter who is able to develop and maintain effective working relationships with Product owners, managers, wider team, and partners of varying level of seniority. * Experience of working in a PMO environment including:

• Planning
• RAID management
• Governance processes and support
• Reporting
• Budget management and financial forecasting
• Change control

Experience of management of effective governance, including the planning, post-meeting actions and follow up, and able to record accurate and concise minutes.

Experience of producing high quality documentation, briefing papers, reports and presentations. * Excellent MS Office skills, including Microsoft Project and Excel.

Essential Criteria

Strong interpersonal and communication skills (verbal, written and presentation) with the ability to connect with and influence people at all levels of the organisation.

Able to use judgement and provide sound justification for decisions.

Ability to challenge constructively whilst maintaining excellent working relationships within the team.

Experience of working collaboratively across project and organisational boundaries to achieve shared goals.

Strong analytical skills; able to report critical information and patterns from data, producing accurate conclusions and recommendations.

Process improvement experience.

Desirable Criteria

Experience/familiarity of PRA Supervision and/or Authorisations processes.

Knowledge of regulatory banking data.

Change management experience.

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\xa345,900 - \xc2\xa356,160 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 8% 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 decrease to 7%)
• 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 12 September 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.

Bank of England