Senior Advisor Insurance Job In London

Senior Advisor (insurance) - (Inside IR35)

Contract Term: 24 months (Potential for extension)

Contracting Authority: Bank of England. (PRA)

Location: London/Hybrid 40% office attendance (Please note you will be working 2-3 days a week (part time)

The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

The PRA’s Insurance Supervision directorate has around 300 staff working in firm-facing supervision, actuarial, data analytics and other specialist roles. The directorate’s seven divisions work closely together, and colleagues collaborate with staff across the Bank to meet our statutory objectives and play our part in fulfilling the Bank’s mission.

It is an exciting time to work in Insurance Supervision as we navigate a fast-moving external environment, a changing regulatory landscape in the UK and significant issues facing the industry such as climate change, operational risk and international competitiveness.

Senior Advisors at the PRA provide advice, support, and constructive challenge to the way the PRA and the wider Bank of England works, operates, and exercises its judgement. Senior Advisors do not have line management or staffing responsibilities but they often offer coaching, mentoring and career development to some PRA staff as part of their role.

As a Senior Advisor (Insurance), your main responsibilities will be to

• Support policy and supervision colleagues across the PRA, providing independent advice and challenge to help the PRA assess topics that impact the insurance industry and the wider financial system, and to help supervisors pursue key issues in their supervision of individual firms.
• Provide advice and guidance to PRA executives on key challenges which firms are facing, working closely with colleagues who are developing policy, or advising supervisors on insurance matters, especially those in the non-life sector.
• Contribute to the PRA’s assessment and response to sector-wide risks, and working with supervisors on high-profile individual firm supervision priorities.
• Participate in interview panels for prospective senior managers of PRA-regulated firms and provide independent challenge on decision-making panels.
• Build and maintain key external relationships, including relevant stakeholders in industry and other relevant organisations, to help inform the PRA’s work on both known and emerging risks.
• Advise, support, and challenge PRA staff in their supervision of individual firms, the wider insurance market, and the UK financial system as a whole.
• Digest and synthesise information quickly, think critically to reach reasoned and robust conclusions, and communicate effectively.
• Be independent-minded and contribute constructively to well-informed debate on how to advance the PRA’s objectives and the Bank of England’s mission.
• Influence strategies to deliver the PRA’s primary and secondary objectives by advising the PRA’s senior decision-making bodies and developing good working relationships and practices across the organisation to support sensitive and complex projects.
• Work collaboratively with a range of staff including those at the start of their career through to PRA senior management, to support the PRA in achieving good supervisory outcomes
• Handle highly confidential and commercially sensitive information appropriately.
• Adhere to the Bank of England’s Code of Conduct for staff, which can be found on the Bank’s website. Candidates should carefully consider whether their circumstances may give rise to an actual or perceived conflict and declare this on their application, so that the Bank can consider how any potential conflicts might be addressed or

You’ll have relevant experience in:

• Active SC clearance (desirable)
• Experience of operating at senior levels within the London Market and general insurance sectors, for example through previous senior management roles in insurance firms or equivalent roles in relevant advisory firms
• Experience of general insurance topics and the London Market, gained by operating strategically at senior executive and/or board level, and with a broad understanding of relevant market practices in the insurance sector (for example, underwriting, claims, reserving, reinsurance, governance and risk management).
• An understanding of the PRA’s objectives, and its regulatory and supervisory approach, and a commitment to helping the PRA achieve its statutory objectives.
• Familiarity with the concepts and frameworks relating to prudential supervision and risk management in the insurance sector.

Desirable Criteria

• Experience at board level in executive or non-executive leadership roles in the regulated firms or other equivalent roles.
• An ability to provide practical insights, ideas, and solutions to complex issues.

If this role sounds like something that you would be interested in, please click the link to apply or get in touch with thomas.lester@publicsectorresourcing.co.uk

Our Approach to Inclusion

The Bank values diversity, equity, and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.

At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation, and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.

Disability confident

As a member of the disability confident scheme, The bank of England guarantees to interview all candidates who have a disability and who meet all the essential criteria for the vacancy. In cases where we have a high volume of candidates who have a disability who meet all the essential criteria, we will interview the best candidates from within that group.

Armed Forces Covenant

The Bank of England is proud to support the Armed Forces Covenant and as such, we guarantee to interview all veterans or spouses / partners of military personnel who meet all the essential criteria for the vacancy. In cases where we have a high volume of ex-military candidates / military spouses or partners, who meet all the essential criteria, we will interview the best candidates from within that group.

If you qualify for the above, please notify us on PSRapplications@publicsectorresourcing.co.uk.

We will be in touch to discuss your suitability and arrange your Guaranteed Interview.

Should you require reasonable adjustments at any point during the recruitment process or if there is a more accessible way for us to communicate, please do let me know.

In applying for this role, you acknowledge the following “this role falls in scope of the Off Payroll Working in the Public Sector legislation. Any rates of payment quoted will reflect the gross rate per day for the assignment and will be subject to appropriate taxes and statutory costs. As such the payment to the intermediary and your income resulting from this contract will be different.