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Director for Insurance Supervision

Employer
The Bank of England
Location
London (Greater) (GB)
Salary
Competitive
Closing date
18 Jul 2022

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Sector
Banking, Insurance
Responsibilities
Analyst, Executive Management, Risk / Compliance
Position/Level
Director
Contract Type
Permanent
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The Bank of England is the UK's central bank with an important mission to deliver monetary and financial stability for the British people. The organisation is diverse; each of its 4,000-plus people are committed to public service and dedicated to promoting the good of the people of the UK by maintaining monetary and financial stability.

Within the Bank, the Prudential Regulation Authority (PRA) is the UK’s prudential regulator of banks and insurance companies, focused on promoting firms’ safety and soundness, protecting insurance policyholders and facilitating effective competition.

The Role

The PRA seeks to appoint a Director for Insurance Supervision. This is a high-profile position on the Bank’s overall senior management team, reporting into the Executive Director for Insurance Supervision. The Director for Insurance Supervision will have responsibility for the supervision of a large portfolio of insurance firms. The successful individual will need to ensure that the PRA effectively discharges its supervisory responsibilities to promote the safety and soundness of the firms and the appropriate degree of protection for policyholders.

The Director will be responsible for leading four divisions comprising frontline supervisors, risk and actuarial specialists. This will amount to over 100 staff and the Director will also support the Executive Director in leading the overall Insurance Supervision directorate of nearly 300 staff in total. The exact division of responsibility between Director and Executive Director for firms across the general and life insurance sectors will be flexed around the experience and knowledge of the Director.

The Individual

The successful candidate will bring:

  • Excellent leadership, interpersonal and individual engagement skills: the role-holder will interact with a very wide range of individuals including those from the Prudential Regulation Committee, FCA, regulators in other jurisdictions and regulated firms.
  • Excellent communication skills: the role-holder will need to be able to deliver speeches, interviews, panel discussions and briefings on the PRA’s insurance supervision agenda
  • Analytical excellence and deep knowledge of risk management and/or prudential regulation and supervision: the role-holder will be responsible for maintaining the safety and soundness of insurance firms.
  • They should have a good understanding of the changing environment in which the PRA operates and what regulatory actions might be required to mitigate risks to our objectives.
  • Knowledge of one or more classes of insurance risk, e.g. general insurance and in particular London Market is desirable.

The deadline for application is 23.55 Sunday 24th July 2022. For further information and/or to apply, please visit https://www.odgers.com/86466

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