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 unique and 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
Risk management in its broadest sense is at the core of the Bank s mission
and is central to everything we do. As well as the diverse policy risks managed
by the Bank s three policymaking committees, the Bank is also exposed to a
wide array of financial and non-financial risks.
The Risk directorate was created following the 2018 internal Risk Governance
Review and houses the second line risk and compliance functions charged with
providing effective oversight of the Bank s financial and non-financial ris
and ensuring compliance with its policies. The Directorate brought together
various second line functions Enterprise Risk and Resilience Division,
Financial Risk & Resilience Division and the Bank s central Compliance
Division. There is also a dotted line from the Internal Audit department into
the Risk Directorate.
The Bank s reputation for integrity and impartiality are key to maintaining
our ability to discharge our mission. The Compliance function, through
oversight of necessary control processes, and culture, seeks to ensure
compliance with all the Bank s internal policies (working with policy
owners). The Compliance function houses the Data Protection Officer and
oversees the Privacy team who oversee Bank wide compliance with data protection
Since the creation of the new Risk Directorate, the Compliance Division s
role has already expanded beyond the Bank s conduct and ethics policies in
Our Code . The Division is now responsible for encouraging a culture
compliance across the Bank in which training and awareness will have a
significant role. In addition, it has a role in ensuring all Bank policies are
up to date and appropriate. The Compliance function has commenced a significant
review of all Bank policies to ensure they are sufficiently clear, adequately
communicated and have clear governance, ownership and review periods. There is
also a clearly defined role for Compliance in monitoring adherence to policies
and dealing with non-compliance.
The Compliance Division in the Bank is looking for proactive and energetic
individuals to help us develop the remit of the Compliance Division and
actively monitor compliance across the organisation.
Specific responsibilities will include:
* contributing to delivery of the annual Our Code (staff conduct policies)
* supporting the Compliance Division s Policy Review project;
* assisting with education, training and awareness raising initiatives for
Our Code policies;
* provide Compliance advisory support to business areas of the Bank;
* assisting compliance monitoring in the Bank;
* supporting the Privacy team on issues relating to privacy compliance and
Data Protection legislation and providing privacy advice to business
* taking responsibility for specific policy work streams and initiatives,
these could be simple campaigns to raise awareness or driving changes in
policies or processes where a recommendation has been made following a
policy review or breaches; and
* contributing to the wider management of non-financial risks in the Risk
Directorate and Bank.
* Relevant law, business or finance degree or diploma/qualification/degree
in related discipline.
* Excellent analytical, verbal, written communication skills.
Skills, experience and behaviours required
* Suitable candidates will have some breadth of experience and could come
from a variety of backgrounds, subject to the minimum criteria below.
* Influencing skills in order to leverage the various compliance
spokes around the organisation which reside within first-line
business areas. You will have the opportunity to develop specialist
knowledge of best practice for compliance and privacy compliance in
central banks and the wider financial services industry.
* Willingness to develop knowledge and or undergo training in privacy and
data protection to support Privacy Compliance.
* You should be willing to assist the development of the Compliance
Division as a whole.
* Ability to respond calmly and efficiently to fast moving events.
* Drive for results personal ownership and accountability for
delivering against commitments.
* An eye for detail and rigour in your work.
* Ability to communicate well, persuade and influence other stakeholders.
What will I get from the role?
* A chance to help to shape the Compliance Division building on the
foundations already established and further establish its role in
providing assurance to the most senior management of the Bank;
* An opportunity to create links with and to craft best practice approaches
from other Central Banks;
* Undertake stimulating and intellectually challenging work with a broad
range of colleagues across the Bank; and
* Opportunities for professional training (and accreditation) and further
skills development in an area of growing importance for the Bank;
* Gain access to a diverse range of career opportunities enabling you
to broaden and deepen your existing experience.
We anonymise applications so hiring managers will not be able to see your
personal information, your original CV or any covering letters when reviewing
your submission. Please complete work history and the application form
questions as requested because incomplete submissions will not be reviewed.
The closing date for applications is 25 September 2020
Please apply online, ensuring that you answer the application questions,
complete the work history and submit your CV.
The base salary range for this position is 35,000 – 40,500 (subject to
experience and skillset).
The total package also includes:
* 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
* A 7% benefits allowance with the option to take as salary or purchase a
wide range of flexible benefits.
* 25 days annual leave with option to buy up to 13 additional days through
* Private medical insurance and income protection insurance.
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