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Bank of England Supported Hiring – Legal Counsels

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Location: London, UK

Start Date: Variable

Programme: Supported hire into permanent/fixed-term roles with flexible working

Closing date for applications: 15 March 2021

The Bank of England’s Legal Directorate is partnering with Women Returners to seek qualified and experienced barristers or solicitors who would be interested in an opportunity with the Bank. There is currently a maternity cover (fixed term contract) opportunity as a Senior Legal Counsel and Manager and various Legal Counsel opportunities on a permanent or fixed-term contract basis.

The Bank of England welcomes professionals who have taken an extended career break to apply for these roles. Successful hires who have taken a career break of 2+ years will receive coaching support through the transition period from Women Returners. You may have taken time out for childcare or eldercare, for relocation, or for other reasons. You may have been working on a small-scale basis to fit around your other commitments or have not done any paid work for a number of years. The Bank is absolutely committed to having an inclusive environment. Improving the diversity and depth of experience of staff is something that the Bank is passionate about. Flexible working options are available, including part-time working.

The Bank has hired a large number of legal returners over the last few years. Read Melissa’s story of returning to law at the Bank here.

About the Legal Directorate

The Legal Directorate performs a wide-ranging legal advisory and support role for the Bank of England. It works closely with business areas across the Bank and the Prudential Regulation Authority (PRA) on a wide range of key UK and international issues, covering areas such as current and prospective UK and EU legislation, banking and market operations, financial stability, prudential regulation, financial market infrastructure and resolution-related issues, legal risk management and issues arising from the Bank’s and PRA’s public status.

The Legal Directorate usually provides legal advice in-house, but engages external counsel as necessary.  It comprises a General Counsel and approximately 150 colleagues from both the private and public sectors and from many different legal and cultural backgrounds.  The growing diversity of the legal team is matched only by the diversity of the legal work. The Legal Directorate was named the In-House Legal Team of the Year 2020. The Directorate  is fully supportive of part-time and flexible working – more than a third of the team work on a part time basis.

About the Roles

  • Senior Legal Counsel and Manager. The Bank is looking to recruit a senior lawyer to work primarily on commercial, procurement, IT and outsourcing matters for 9-12 months, to cover a maternity leave. While previous experience of working in some or all of these subject areas is desirable, applicants with experience in other fields who are highly motivated in developing the relevant expertise will also be considered. The role will suit a highly proficient lawyer with good commercial awareness and excellent drafting, negotiation and interpersonal skills. 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 presenting a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area’s aims.
  • Legal Counsel. The Bank currently has a number of permanent and fixed term vacancies available across the Legal Directorate to suit a broad range of legal expertise and experience. They are looking for qualified barristers or solicitors with experience gained in a law firm or at the Bar or in-house at a financial institution, insurance company, public body or other private company. They are open to applications from lawyers qualified in a non-UK jurisdiction.

Roles will in normal circumstances be located in the Bank’s London offices at Threadneedle Street and Moorgate, however due to Covid-19 most staff are currently working remotely. This is being kept under review as the situation evolves.

Salary and Benefits

As a unique institution, the Bank of England offers a competitive reward package. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. The Bank also offers a working environment which fully supports individuals through flexible working, as well as wellbeing initiatives including an on-site medical and dental unit.

The Senior Legal Counsel and Manager offers a base salary of circa £90,000. The Legal Counsel offers a base salary of circa 60,000 to £80,000 dependent on experience.

In addition, the total reward package also includes:

  • A non-contributory, career average pension
  • A discretionary performance award based on a current award pool and target award of 10%
  • 25 days annual leave with option to buy up to 13 additional days through flexible benefits
  • Private medical insurance and income protection insurance

About the Bank of England

The Bank of England is the UK’s central bank and a diverse organisation. Each of its 4,000 plus employees are committed to public service and dedicated to deliver the Bank’s mission to promote the good of the people of the United Kingdom through maintaining monetary and financial stability. Protecting the nation’s insurance policyholders is a vital job.

As a place of work, the Bank feels different from most other organisations. The atmosphere is relaxed but professional, research-driven and also very much connected to real events in the economy. While organisations in the private sector are focused primarily on profits, the ultimate objectives for the Bank are always the quality of thinking and the rigour of analysis. This makes for an unusually satisfying place to develop your career. The issues they deal with on a daily basis are often in the news headlines, and have implications for everyone in the country. For many of their people, this sense of contributing to the public good is one of the most rewarding aspects of working there.

The environment is extraordinary too: a historic building located in the heart of the City, which combines rich tradition with up-to-date technology and facilities. Just as importantly, they have a strong culture of support that exists within each of their teams and across the organisation as a whole.

Read more about the Bank in this Returner Champion Employer profile.

How to Apply

For more information on each role and to apply, please access the links below:

Senior Legal Counsel and Manager

Legal Counsel Opportunities

Application deadline is 1 March 2021.

With any queries please email Cat Fawcett on cat.fawcett@bankofengland.co.uk

The Bank anonymises applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.