Part-Time
Senior Supervisor Insurance Directorate
Posted on 7/3/2025
Bank of England
Central bank managing monetary policy and stability
No salary listed
Senior
London, UK
Hybrid
Employees are expected to spend a minimum of 40% of their working time in the office per month.
- Strong analytical skills, the ability to analyse and interpret financial information independently, exercise judgement and draw clearly reasoned conclusions.
- An understanding of the financial services industry, its reporting requirements and key regulatory challenges / priorities.
- Strong written and oral communication skills and ability to present findings, varying style to suit the audience
- Excellent organisational skills to proactively prioritise and manage workload
- Strong stakeholder management skills, ability to build and maintain relationships at all levels, and to influence and challenge where appropriate.
- Use analytical skills to deliver assessments and understand any risks firms might pose.
- Interact with firms and build an understanding of how they work.
- Investigate issues and dig deeper when things don’t look quite right.
- Share findings with the wider internal team and work closely with senior leaders across the UK and international Insurance firms.
- Ensure supervisory strategy is being implemented.
- An active participation in diversity and inclusion initiatives within your team, department or organisation.
The Bank of England is the central bank of the United Kingdom, tasked with maintaining the country's monetary and financial stability. It sets the official interest rate, which affects borrowing costs and inflation, and issues currency. The bank also supervises financial institutions to ensure the economic health of the nation. Its Financial Policy Committee works to identify and reduce systemic risks in the financial system, while the Prudential Regulation Authority oversees banks and other financial firms. Unlike typical businesses, the Bank of England operates not for profit but to serve the public good, earning income from its assets and banking services, which helps cover its costs and returns any surplus to the UK Treasury. Its primary clients include the UK government, commercial banks, and other central banks.
Company Size
N/A
Company Stage
N/A
Total Funding
$85.6M
Headquarters
London, United Kingdom
Founded
1694
Simplify's Take
What believers are saying
- Increased interest in digital currencies could lead to new monetary policy tools.
- Challenger banks' competitive rates may push traditional banks to innovate, benefiting consumers.
- Issuance of new banking licenses indicates regulatory support for innovative financial solutions.
What critics are saying
- Digital challenger banks pose a threat to traditional banks, pressuring regulatory adaptation.
- Digital currencies' popularity may disrupt traditional banking, requiring policy reassessment.
- A no-deal Brexit could lead to long-term economic challenges for the Bank of England.
What makes Bank of England unique
- The Bank of England is the UK's central bank, ensuring monetary and financial stability.
- It sets the official interest rate, influencing borrowing costs and inflation.
- The bank supervises financial institutions, managing systemic risks and economic health.
Help us improve and share your feedback! Did you find this helpful?
Benefits
Health Insurance
401(k) Retirement Plan
Paid Vacation
Performance Bonus
Profit Sharing
Flexible Work Hours
Company News
UK digital challenger bank Kroo Bank is gearing up for a fundraise of up to £70m and is to launch a current account tracker rate, as it rails against traditional banks’ “cryptic” interest rate levels.Kroo was granted a full UK banking licence last year and has caused a stir in the market with its current 4.35 percent interest rate on its current account, outstripping rivals and rated by financial pundit Martin Lewis as a “top-pick bank account”.In October, Kroo will launch a tracker rate, in an effort to entice customers.This tracker rate will see customers paid at a rate, which will be 0.9 percent lower than whatever is the Bank of England base rate, currently 5.25 percent.The 0.9 percent deduction, says Kroo CEO Andrea De Gottardo, is “the bare minimum to cover some of the costs”.He adds:“Banks have been for far too long way too obscure and cryptic and the customer never quite understands how the rate is set on.”With the tracker rate, he says the customer is “fully empowered and knows exactly what the rate is based on”.The app-based bank is something of a rarity, as banks seldom offer significant interest rates on free current accounts.The neobank, founded in 2016, is still small compared to the likes of Starling and Monzo but is hoping its eye-catching interest rate, coupled with social media advertising can woo customers.It launched a prepaid payment card offering in 2019, which it has since been trying to covert to full current account customers, following the netting of its UK banking licence.De Gottardo says it has now more than 130,000 current accounts, seven months after launching the product, representing a “good mix’” of customers moving from traditional and challenger banks to Kroo.De Gottardo says Kroo’s aim is to garner a million customers over “the next couple of years”. Its primary market is 18 to 35-year-olds.Kroo (the name doesn’t mean anything specifically but wants to invoke building a crew in the consumer’s mind) raised $33m (£26m) in a Series B in May last year.It is now looking to rise between £50m and £70m in a Series C round which is likely to kick off later this year or early next year.“I would be delighted if we get it finalised and closed up this year,” he says.According to Sifted, its team has grown by 137 percent to 216 employees in the past 12 months. De Gottardo says the number now stands at around 250.The reason for the uptick, says De Gottardo, is the bank has been busy, moving into lending, opening a second office in Manchester, and launching a customer acquisition drive.On it receiving a full UK banking license, De Gottardo says it is “the hardest thing I have ever done in my life”.It was “much longer and much harder than we originally anticipated but we understand why it is so hard, it is a big responsibility,” he adds.Critics might suggest that Kroo is late to the party, and that the UK neobank winners have already been decided.But De Gottardo points to Bank of England data showing 84 percent of people in the UK bank with traditional banks.“When we think that Monzo and Starling have already made it, it's not quite [true} because they were only able to attract a very small proportion of a big market, so there is still a lot of space for new players to get in there.”Kroo is not yet profitable and De Gottardo says he believes it will be profitable in a shorter period than it took Starling, around five years, and Monzo, around eight years, to swing into profit. But he will not put a timeframe on when this will be.The bank partners with a reforestation project and plants trees for every new customer that joins.Lead image via facebook.com/getkroo
The facility with Hilco has been agreed at an interest rate of 10.5% plus the Bank of England base rate – currently at 5.25% – on the drawn element. It
Fintech group Fiinu has had its shares admitted to trading on AIM today, with a valuation of approximately £53 million. Fiinu has also secured its deposit-taking bank licence from the Bank of England. The issuing of the bank licence and authorisation from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), concludes a journey that initially started five years ago. The company will continue to work with the UK regulators, external auditors, investors and its independently led Board to mobilise the bank. Fiinu is preparing to bring to the market the world’s first Plugin Overdraft®, funded by a FSCS guaranteed fixed term deposits of up-to £85,000. The unbundled overdraft solution helps customers to get access to a third-party overdraft from Fiinu whilst building their credit score, which cannot be said about some of the non-bank or unregulated alternatives which are eroding the credit files of customers. Fiinu’s Open Banking enabled platform connects seamlessly to the customer’s existing bank accounts without needing to switch current account. Customers can therefore continue to use their existing bank accounts as before and benefit from Fiinu’s overdraft service and product which is outside of their existing bank risk appetite
Offering better current accounts has been challenger banks’ USP to date. They have attracted customers in droves with seamless payments, handy spending trackers and low fees on overseas transactions. Consequently, incumbent banks have been most afraid of losing this part of their business, and deposit accounts were somewhat of an afterthought.
FreshBooks is renewing its focus on the UK market. It has partnered with Barclays to provide joint solutions to small businesses. The first issues they are focusing on are invoicing and business management. FreshBooks will help to integrate Barclaycard Payments solutions into the FreshBooks accounting platform.