Independent External Member
Bank of England - Prudential Regulation Committee
Independent external member part-time circa 2 days per week
£105k=Up to three years, renewable=London
The Bank of England, through its Prudential Regulation Authority, is responsible for promoting the safety and soundness of all the firms it regulates, including banks, insurers, certain major investment firms, building societies, friendly societies and credit unions; and for doing so in a way that facilitates effective competition in the markets for services provided by PRA-authorised firms. The PRA is governed by the Prudential Regulation Committee (PRC), which includes the Bank’s Governor and Deputy Governors, but has a majority of external members appointed by the Chancellor.
The PRC sets the supervisory strategy, makes rules under the Financial Services and Markets Act, and oversees the supervisory process. While day to day supervision is delegated to the chief executive, for the largest regulated firms the PRC itself takes the major decisions. It must approve the PRA’s Risk Tolerance Statement, supervisory approach, material changes to the PRA’s control framework, and the PRA’s Annual Report.
A vacancy for an external member of the PRC has arisen, and applications are invited from industry leaders in business, financial markets, law, and policymaking environments with a proven track record of operating at a senior level. Experience in retail banking or insurance is desirable, but not essential.
Candidates must have the technical expertise and experience to absorb large volumes of complex information and reach reasoned and robust conclusions. If necessary, they must be ready to take tough decisions and stand by them.
The Committee has a full and varied agenda and meets at roughly fortnightly intervals. On some topics, joint meetings are held with the Financial Policy Committee and the Monetary Policy Committee. The PRA is a part of the Bank and external PRC members, as senior office-holders in the Bank, are frequently involved in cross-bank policy work.
The Appointment is expected to commence in Summer 2018. For full details on how to apply please visit click "Apply".
The closing date for all applications is 17:00 Wednesday 28th February 2018.
Interviews are expected to take place in central London during mid-April 2018.