What we do

What we do

• Develop new Bank-wide data analysis capabilities
• Deliver user-friendly tools and training to help the organisation make the most of its data
• Use advanced analytical techniques and datasets including Big Data to better understand the economy and the financial system
• Communicate and link with outside partners so the Bank is at the forefront of data science

What might I work on?

• Explore large data to uncover interesting patterns, using tools like R or Python
• Implement, expand and evaluate different data-driven models to address key policy and research problems
• Create effective visualisations to convey messages in the best way
• Manage and analyse large or unique datasets

Why should I apply?

The range of work we do is diverse. So you might work with colleagues from the other parts of the Bank to solve data analytics problems or you may get involved in research projects collaborating with top external academics. What you do will depend on your background and skills. Advanced Analytics values demographic diversity so we recruit candidates from a variety of backgrounds.

What we do

Firms wishing to carry out PRA-regulated activities, or make changes to the activities they undertake, must apply to the PRA to ensure they meet the relevant legal requirements and standards. The Authorisations division is the gateway to receiving these applications, working closely with Supervision and other stakeholders to draw together sound recommendations and analysis that underpin the decision-making for each case.

What might I work on?

• Considering the impact of Brexit on authorisations and helping to plan for various contingencies
• Helping to process an application from a new bank or insurance firm requesting permission to operate in the UK
• Reviewing an application from a firm wishing to apply for a new individual to hold a senior management position, which aims to ensure that person is fit and proper for the role
• Working on an application for a change in control to a firm, which involves assessing the suitability of the firm’s new controller
• Assisting Supervision in assessing whether a firm’s share issuance or repurchase complies with Capital Requirements Regulation

Why should I apply?

Authorisations is an excellent place to develop analytical skills, technical expertise, knowledge of the regulatory environment, and a broad overview of the financial sector. You will work with experienced professionals across the Bank, practising oral and written communication skills and learning about effective stakeholder management.

What we do

We operate UK’s Real-Time Gross Settlement (RTGS) system which processes around £600 billion of transactions every day. We also provide wholesale banking services (e.g. sterling banking, FX settlement and gold custody) to a small number of systemically important customers such as the UK Government and other central banks. And we coordinate the implementation of emergency liquidity assistance if a bank runs into temporary difficulty.

What might I work on?

• Analysis of policy issues, such as who should be able to store and trade gold in the Bank’s vaults (the second largest in the world). Live contingency planning for lending to specific firms when the need arises
• Supporting the RTGS Renewal Project by running industry workshops to discuss the design of the new system
• A variety of operational work,  including the processing and settlement of Clearing House Automated Payment System (CHAPS) payments, settling FX trades, and managing our customers’ gold holdings records

Why should I apply?

This is an exciting time to work in BPFR: the banking and payments landscape is changing rapidly, and you’ll be at the forefront. You’ll have plenty of independence and the work is varied and exciting, with the opportunity to get involved with many high-profile projects.

What might I work on?

• The information you’ll gather will help to reveal patterns and trends in the economic and financial systems, as well as individual firms, which will then be used by a number of internal and external customers, including UK government departments and international organisations
• The data you'll be compiling will often be used in news stories or in our publications, such as the Inflation Report or Financial Stability Report. As a result you will take responsibility for your data and work with economists, supervisors and policy experts to support its interpretation
• We champion change and innovation. You will have opportunities to participate in various initiatives, such as coding camps, building and maintenance of complex analytical tools and cross-departmental projects on the implementation of new technology

Why should I apply?

DSD offers a broad range of work: you'll use your analytical skills to understand and communicate with financial institutions and engage with our experts. You'll also use your coding skills and creativity in initiatives that challenge the way we look at data. You'll learn alongside talented individuals with diverse academic backgrounds.

What we do

We supervise a number of firms that sit at the heart of global financial markets and the UK economy. Collectively, these firms are known as financial market infrastructures (FMIs). They allow people to receive salary payments, pay for goods and services and withdraw cash from their bank accounts. FMIs also allow financial institutions to settle payments with each other and to trade in securities and derivative products.
The Financial Market Infrastructure Directorate’s role is to ensure that FMIs are designed and operated in a way that reduces risks to financial stability and benefits the wider economy. We are at the forefront of ongoing international work to refine and strengthen the regulatory framework for FMIs, informed by research and analysis based on data uniquely available to us.

What might I work on?

• Ensuring the regulatory framework for FMIs keeps pace with industry developments and that supervised FMIs are sufficiently managing the different risks they are exposed to
• FMID has several teams that work together to meet this objective, supervision, policy, risk and research, and our data team
• Our work includes direct engagement with industry and other regulatory bodies across the globe, contributing to the continuous assessment of our systems, assessing and developing the FMI policy environment and undertaking research into topics relevant to FMIs and their impact on the Bank’s financial stability objective

Why should I apply?

The Financial Market Infrastructure Directorate is varied and each day can bring new challenges and opportunities: you could be engaging directly with (often senior) staff at one of the FMIs supervised by us; you could be liaising with counterparts at other regulatory agencies (in the UK and internationally) on a policy initiative; or you could be conducting in-depth data analysis or research on topics related to FMIs. For example, this can include reviewing firms’ business models, governance arrangements and capital and liquidity positions.

What we do

FSSR is responsible for supporting the work of the Financial Policy Committee (FPC), chaired by the Governor. We assess risks to financial stability from across the financial system and define the Bank’s strategy for responding to them. We also work closely with other areas, as well as foreign central banks and international organisations. The challenges are varied and ever-changing, so there are many opportunities to do ground-breaking work on new issues.

What might I work on?

There are a wide variety of issues that you could work on. For example: 

• Leading analysis and research to inform the FPC’s thinking on financial stability issues
• Developing new policy tools to help us meet our objectives
• Working on our flagship publication – the Financial Stability Report – and speeches by FPC members to help communicate the Bank’s views to the outside world
• Attending training courses and seminars led by expert colleagues and by leading academics, to deepen your knowledge and understanding

Why should I apply?

The work we do in FSSR is varied and challenging, and the Directorate offers a supportive and diverse environment in which to develop your career. If you want a role that is intellectually stimulating and has real impact, FSSR is the place to be.

What we do

We play an integral role in the running of the organisation. We are closely involved in supporting structural and cultural changes. This includes:

• ensuring people across the organisation get paid fairly for the job they do
• recruiting and promoting the right people for roles
• managing the performance management strategy

Alongside this, we drive the Bank’s Inclusion and Community work, provide pay and benefits to staff, and provide staff with valuable learning & development opportunities.

What might I work on?

Working in HR means working with managers and staff - advising them on people issues. You might work on:

• helping to create inductions or reviewing training courses in our Learning & Development Team
• using your analytical ability to look at employee trends and people data, to support and inform decision making within the MI team
• attracting and recruiting the newest members of the Graduate Programme within the Early Careers Team
• helping to review our Talent Management policies within the Talent Team

Wherever you work, you’ll be communicating with others and building up relationships.

Why should I apply?

You’ll gain experience of working with every department, and creating a wide network across the organisation. HR offers you unique opportunities and is a great place to start your career.

What we do

We support Court in governing the Bank, enhancing its accountability and transparency to Parliament and the wider public. We report directly to the Chair of Court to safeguard the independence and impartiality of our work and operate at arm’s length from business areas. 

The IEO Quarterly Bulletin article describes our work: we conduct varied and interesting in-depth performance evaluations on key policy areas set by the Chair of Court.

What might I work on?

No two days are the same. You will work on two in-depth performance evaluations of key policy areas, contributing to reports that are published unless this is not in the public interest. Recent evaluations include the Bank’s forecasting performance, sterling market liquidity provision, and resolution of failing banks.

Your role includes:

• research and analysis for evaluations
• aiding the production and delivery of reports and follow up surveys, including the checking of data prior to publication
• taking notes and minutes of structured interviews and meetings, often with senior people, internally and externally
• developing your Excel and PowerPoint skills

We will encourage you to contribute to every aspect of our work. You will be a valued team member. 

You will work closely with senior people and report directly to our director. This role will help you develop analytical, numeric and written skills. You’ll be an important part of a small team that is based in the Governors’ area.

What we do

We promote the safety and soundness of over 500 insurance companies. We help identify and mitigate potential risks before they adversely affect the public and financial markets. You will have the opportunity to work in a fast-paced environment in market developments. You’ll join an area that focuses on domestic and international insurance firms, which vary in size, complexity and business model.

What might I work on?

Our graduates help supervise firms and cover the entire Prudential Regulation Authority’s risk framework.

This might include:

• analysing the business model of a firm and identifying risks to our objectives
• assessing the suitability of individuals for key roles
• regularly meeting and challenging senior management of firms
• reviewing capital projections and financial data
• carrying out wider industry research and analysis

Why should I apply?

We offer challenging and interesting roles in a collaborative environment where you can also gain local industry-specific training and expertise. Your work can have a real impact on policyholders of the insurers we regulate and enables you to meet senior professionals in the industry.

What we do

We cover a broad range of issues. These include doing conjunctural analyses of other economies and addressing the international aspect of policy questions facing our organisation. We provide information to the Bank’s two most important committees, the Monetary Policy Committee (MPC) and the Financial Policy Committee (FPC). 

The Bank publishes two flagship publications: The Inflation Report and the Financial Stability Report. We produce the international forecast for the former and analyse risks from the global economy and financial system for the latter. We also brief the most senior figures in the Bank, the Governors, when they participate in international conferences.

What might I work on?

Roles can vary widely. You might specialise in a specific region and produce macro and financial stability analyses for the policy committees. Or you could influence the international policy agenda. In your role, you could work on topics such topics as:

• How do we expect the output gap in a particular region to develop and why? What implications will this have?
• How has credit provision in another economy developed and what risks, if any, may arise from this?
• What spillovers may macroprudential policies have and what risks may be associated with this? What policy proposals may help to mitigate these risks?
• How do we build on international prudential standards to maintain a resilient, open and rules-based international monetary and financial system?

Why should I apply?

We’re an exciting and diverse workplace. We analyse topical issues, covering both monetary policy and financial stability. You will enjoy great variety in your role.

What we do

Financial supervision covers everything from recovery planning and authorising new banks to risk management and stress testing. You’ll be involved in high-profile banking issues, such as the major preparations needed for EU withdrawal and the internationally coordinated effort to end ‘too big to fail’. You may also find yourself working on international relationships, including home/host supervision practices. 

What might I work on?

• All our staff use their growing analytical and economic understanding to contribute to the assessment of international banking groups. You could be accompanying supervisory teams and specialists to support regular risk-assessment visits. You’ll prepare and present findings to senior people and work with executives from international banks to see that the new supervisory strategy is being correctly implemented.
• You could be monitoring a firm’s capital adequacy by reviewing regulatory data, or discussing findings from a stress test exercise with risk specialists. 
• You could be helping to build relationships with other international authorities, sharing our technical knowledge and experience, and improving our supervisory capability.

Why should I apply?

Working here will build both your technical knowledge and softer skills, including time management, analytical skills and stakeholder management. Everyone gets the opportunity to work on cross-firm projects or become an expert in a specific topic.

What we do

Our role is diverse and includes:

• implementing monetary policy in the UK and providing sterling liquidity to the banking system
• managing the Bank’s FX reserves, and the UK's FX reserves on behalf of HM Treasury
• first-line risk management of the Bank's balance sheet, which stood at over £600 billion in February 2018
• briefing Monetary and Financial Policy Committees on financial markets, drawing on our regular engagement with a wide range of market contacts.

What might I work on?

Your work could involve:

• leading the design and delivery of an eventual exit from quantitative easing by the Monetary Policy Committee
• maintenance of the Sterling Bond Portfolio, including its investment, to fund the Bank's operations
• producing briefings on financial market developments for Monetary or Financial Policy Committees
• analysing the risks faced by the Bank in its market operations, whether on behalf of HM Government or on its own account – for example by reviewing the quality of the security posted by our counterparties
• analysing the data firms give us to assist in the daily SONIA publications, and using this data to improve our understanding of the market.

Why should I apply?

We work directly with the Bank’s private sector counterparties and most of the other areas in the organisation. This is a unique opportunity to work at the intersection of policy and its implementation.

What we do

We assess the UK economy and shape, set and communicate monetary policy. We value diversity of thought, skills and experience to ensure that we can deliver high-quality and innovative research and analysis to support and challenge policymakers. We work collaboratively as a team, with others in the organisation and those who are external. 

What might I work on?

Monetary policy regularly hits the headlines and you’ll help determine what the MPC says. As well as briefing the MPC ahead of their meetings, we help produce forecasts for the UK economy and put together the Inflation Report.  

You’ll develop your understanding of how the economy works not just in theory but also in practice. You’ll be given responsibility for monitoring a particular aspect of the economy and reporting back to the MPC.

There’s a huge scope for variety in the work we do. So you could find yourself:

• producing in-depth investigations of key policy issues for MPC members
• using innovative data sources, finding ways to harness online information, and implementing new analytical techniques to track the latest economic developments
• meeting businesses across the country to hear directly about economic developments
• attending research seminars and working with external economists to deepen your knowledge

Why should I apply?

• You’ll be part of the process that directly affects the UK economy by influencing the setting of monetary policy
• You’ll get the chance to work where you can continuously develop and learn
• We’re open to anyone with strong analytical abilities and we welcome fresh perspectives

What we do

We develop policies and frameworks that remove or reduce systemic risks and promote the safety and soundness of the firms we regulate. We also secure an appropriate degree of protection for insurance policyholders in a way that supports effective competition. 

Since the financial crisis, we have played a vital role in the regulatory overhaul of the financial system. We are leading the Bank’s responsibilities in the EU withdrawal. 

What might I work on?

As a graduate in Prudential Policy, you could be:

• collaborating with domestic and international organisations such as industry, political, regulatory bodies and academia to build regulation for the financial system
• supporting the Financial Policy Committee (FPC) and Prudential Regulation Committee (PRC) in developing micro- and macro-prudential policies and frameworks for the UK, in the form of technical, micro- and macro- economic analysis and academic-quality research
• providing technical guidance to supervisors on the interpretation and implementation of policies and rules

Some recent examples of our work include:

• supporting the FPC with economic analysis to calibrate optimal capital requirements for UK banks.
• launching a series of improvements to the implementation of Solvency II for insurers
• developing a new regime for the responsibilities of senior managers in banks and insurers
• setting out the policies needed to reform the structure of UK banking by ring-fencing activities considered critical to the UK economy 

Why should I apply?

Our work shapes some of the most pressing issues facing the UK today. Our graduates have the opportunity to apply their analytical and problem-solving skills to questions at the forefront of financial stability.

What we do

We provide oversight and support through the following areas: Chief Operating Officer’s Unit, Change and Data Management, Authorizations, Supervisory Oversight, Secretariat and Governance. We work on areas as diverse as the PRA’s budget, operational readiness for Brexit and reviews of Supervision.

What might I work on?

To broaden your experience, you’ll work in more than one area - whether it’s within regulatory operations, Supervision or another central function. You’ll have opportunities to work on:

• ensuring the PRA's change portfolio is effectively planned
• working in a governance or central control function
• managing and analysing feedback from firms to the PRA
• producing and reviewing PRA external publications
• performing reviews to evaluate supervisory effectiveness
• authorising firms and considering changes in control for authorised individuals.

Why should I apply?

Starting your career here will give you a unique view of how the PRA operates across the range of firms it supervises, the PRA’s strategic priorities, and how the PRA governs itself and thinks about risk. You will work daily with experienced professionals within and outside our team. You will have the opportunity to take part in meetings with senior stakeholders externally and internally. You will prepare persuasive and succinct feedback on your findings and judgements, and communicate your recommendations.

What we do

Across our seven divisions, highly skilled and passionate technologists work across every part of the technology lifecycle, from high-level architecture, system development and end-user support, to project delivery and governance. We take pride in having a team whose backgrounds and experiences are as diverse as the solutions they provide.

What might I work on?

Technology is a fast-paced environment – few days are ever the same. Part of your role will include:

• working with business areas to understand what they need from technology and helping to define their future requirements
• providing technical assistance and guidance to colleagues across the organisation
• collaborating with a project team to implement a new piece of government policy
• working with your colleagues to design, build, test and protect vital systems and software.

Why should I apply?

You’ll benefit from our culture of continuous learning and personal development – as well as experiencing opportunities to expand your skills.

We do our engineering and development work in-house. Join our team in:

• developing our data analytical capabilities to enable the Monetary Policy Committee to set the UK’s interest rate and supervise the country’s banks, credit unions, insurers and major investment firms
• being responsible for systems that are critical for national infrastructure and keeping one step ahead of ever-evolving threats from cyber-attacks
• designing and building a replacement for a system that settles £575 billion every day
• considering the implications and possibilities of cloud computing, machine learning and automation.

What might I work on?

As our work is directly linked to the fall-out from the financial crisis, it cuts across a range of high-profile issues. For example, you might be focusing on anything from ‘challenger banks’ – new banks aiming to shake up the status quo held by the current market leaders – to working on the ring-fencing of some of the largest banks in the UK.

Work in UKDT is varied. You will use your growing analytical skills and economic understanding to deliver risk assessments, show your findings to management internally, and work closely with the leaders of a range of UK financial firms to ensure our supervisory strategy is being implemented. All this means you’ll get plenty of opportunity to develop your technical and interpersonal skills through exposure to engaging and challenging issues.

Why should I apply?

Working in UKDT places you at the centre of our mission to deliver financial stability for the UK. It will suit anyone looking for a challenge and great development opportunities.