Under the Financial Services and Markets Bill (FSM Bill) currently being considered by Parliament, the PRA is required to establish and maintain a Cost Benefit Analysis Panel (CBA Panel) to provide advice in relation to cost benefit analyses (CBAs). The Bank of England as regulator of Financial Market Infrastructures (FMIs) is required to consult this panel. The CBA Panel will provide support on CBAs including advising on individual CBAs and providing recommendations for how the regulators can improve their overall methodology and approach to CBA.

The Prudential Regulation Authority (PRA) is the UK’s prudential regulator for deposit-takers, insurance companies, and designated investment firms. The PRA’s primary objectives are to promote the safety and soundness of firms, and to contribute to securing an appropriate degree of protection for insurance policyholders. As a result of the FSM Bill, and the government’s proposals regarding the use of the powers in the FSM Bill, the PRA expects to have expanded policymaking and rulemaking responsibilities.

The Bank of England as regulator of FMIs is responsible for supervision, policy and risk analysis on the infrastructure that sits at the core of the financial system - payment systems, central counterparties, and central securities depositories.

The role

The Bank of England is seeking to engage a Chair of the CBA Panel. The main role of the Panel will be reviewing CBAs published by the PRA and the Bank of England as regulator of FMIs and reporting their views on the content of those CBAs. The Chair will be expected to shape and oversee the work of the CBA Panel, chairing regular meetings and representing the Panel internally and externally.

The individual

Skills and experience will include:

• Experience working in a senior role with responsibility for oversight or sign-off of economic analysis
• Ideally candidates will also bring strong and proven understanding of one or more of the following areas
• banking, insurance, or financial market infrastructure;
• competition economics;
• the economics of regulation and/or regulatory policy.
• Knowledge of relevant methodological frameworks would be helpful, as would previous experience working as a chair of an advisory or similar panel.

The role is expected to require a commitment of around 50 days per year. It can be performed on a flexible basis, including with remote working.

Knowledge of relevant methodological frameworks would be helpful, as would previous experience working as a chair of an advisory or similar panel.

The closing date for applications is 23:55 on Wednesday 21st June 2023.

To apply please visit www.odgers.com/87756