Policy Adviser in Innovation and Regulatory Perimeter - PPD

Location: Leeds 

Prudential Policy Directorate

The Prudential Policy Directorate (PPD) is responsible for designing, negotiating internationally and implementing effective prudential regulation in order to remove or reduce systemic risks, promote the safety and soundness of PRA-regulated firms and ensure appropriate protection for insurance policyholders. PPD supports both the Prudential Regulation Committee (PRC) and Financial Policy Committee (FPC) in fulfilling their objectives.

Prudential Framework Division

The Prudential Framework Division promotes financial stability and resilience in a changing world by working with others to deliver world class banking prudential policy and thought leadership.

We do this by shaping, maintaining the integrity of, and explaining the capital frameworks, macroprudential toolkit, liquidity policy, FSCS protection and the regulatory perimeter including considering innovation. 

The division plays an active role in policy development, implementation, evaluation, and horizon scanning. It does this through close collaboration with staff across the Bank, externally with HM Treasury, the Financial Conduct Authority and the Financial Services Compensation Scheme. Analysis and research are undertaken across the Division to ensure that the Bank stays at the forefront of the intellectual debate on prudential policy.

Innovation and Regulatory Perimeter team

This role will sit in the Innovation and Regulatory Perimeter Team (IRP). We consider how prudential policy frameworks and the regulatory perimeter should apply, and where we may need to adapt them, in response to innovation by PRA-regulated firms. We seeks to do this in a way that advances the PRA’s primary objective of promoting the safety and soundness of the firms it regulates, while supporting its secondary objectives to facilitate effective competition between banks and to facilitate the international competitiveness and growth of the UK economy, particularly financial services. To date, we have focused on international and domestic banking policy for innovations in digital money and digital assets. 

Job Description

This is a permanent Scale E Policy Advisor opportunity. The role-holder will play a meaningful leadership role in the delivery of banking prudential policy on digital money and digital assets. A key focus will be leading a small hub project to implement the Basel Committee on Banking Supervision’s international standard on the prudential treatment of banks’ cryptoasset exposures into the PRA banking policy framework, as soon as practicable after the BCBS targeted review has concluded. We work close with specialist teams on market risk, credit risk, liquidity, legal and other relevant areas on the delivery of policy publications and associated rule drafting.

This is a people management role. You will be responsible for day-to-day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness.

There may also be a temporary 12-month Scale E Technical Specialist role available in the team in the near future. We may fill that role through this recruitment round, so applicants who are interested in that role should apply.

Do you enjoy solving difficult analytical problems and working on high-profile policy at the heart of cross-authority and industry efforts to shape the future of tokenised markets? Are you passionate about inclusive leadership, helping to evolve team strategy and keeping the team focused on what matters most? If so, this role could be for you!

Number of direct reports: 1-3

Key Responsibilities

• Provide line management for the team.
• Lead policy projects relating to innovation, digital assets, digital money and the prudential regulatory perimeter.
• Develop policy positions on complex and novel issues, including areas where international standards, evidence and regulatory approaches continue to evolve.
• Coordinate contributions from colleagues across policy, supervision and specialist functions to deliver policy outcomes on digital assets and digital money.
• Support colleagues through coaching, technical guidance and constructive challenge to improve the quality of policy analysis and delivery.
• Build and maintain effective working relationships across the Bank, PRA, industry, HM Treasury, FCA and international authorities to influence policy development and implementation. 
• Represent the Bank in international BCBS working groups, where opportunities arise, articulating the PRA’s views effectively and influencing outcomes where appropriate.

Role Requirements

Minimum Criteria

• Proven ability to manage a team of policy analysts and diverse range of partners effectively, including on a project to deliver public policy publications (consultations papers and policy statements). 
• Analytical capability, including experience of analysing complex policy, regulatory or financial-sector issues, applying conceptual analysis to develop qualitative evidence-based recommendations. 
• Effective written and oral communication skills, including being able to communicate technical material clearly and concisely to a senior audience and in policy publications. 

Essential Criteria

• Strong stakeholder management and influencing skills, including the ability to build consensus, navigate differing perspectives and engage effectively with seniors.
• Proactive and organised, with an ability to work autonomously and through others to focus on what matters most to deliver high-quality outputs. 
• Ability to develop technical expertise and apply it to policy development, decision-making or broader organisational thinking.

Desirable Criteria

• Knowledge of prudential regulation, financial stability issues, banking business models or prudential supervision.
• Track record of delivering committee papers in the PRA or wider Bank and external policy publications. 
• Experience in one or more of the following areas: 
  • digital assets, tokenisation, digital money or emerging financial technologies.
  • domestic prudential policy development or engagement with prudential international standards.
  • issues involving significant uncertainty or evolving regulatory frameworks.