In the square mile of the City of
London sits the Bank of England, the UK’s central bank. Fondly known as the“old lady of Threadneedle Street”, decisions made here on the UK economy effects
every one of us. As well as Finance and Economics graduates the Bank
has schemes for all graduates regardless of subjects studied. So if the idea of a career that enables you to “help
to drive new policy and change” appeal, read
on!
Keele University is one of the
Bank’s target Universities, recognising both the reputation and quality of
degree courses on offer here. However levels of application from Keele
remain relatively low. The Bank would
like to pass on the message to Keele students that
opportunities are not just open to economics or finance graduates but also to
graduates of all disciplines.
The Bank is also keen to develop
a work force that is more representative of the UK’s population so would welcome applications from undergraduates
and graduates from the full range of backgrounds. The Bank would particularly like to increase the number of women,
ethnic minorities and people with
disabilities in its workforce. Committed to the 2 tick scheme (the 2 tick symbol on job
adverts means the employer is committed to employing disabled people): students with a disability, so long as
they meet the minimum criteria, are guaranteed an interview.
Introducing the Prudential Regulatory Authority (PRA)
To be successfully recruited to
one of the Bank's schemes you will be expected to have a good knowledge and understanding of the Bank's role
and areas of business and this includes the PRA. The PRA has been set up to give the Bank powers to help ensure that
regulated firms do not adversely affect financial stability. The PRA is described by the Bank as “one of the most exciting
places to be within the financial sector”.
Business areas
·
Banking Services
·
Financial Stability
·
Information, Service and Technology
·
Markets
·
Prudential Policy
·
Special Resolution Unit
|
·
Finance
·
Human Resources
·
Internal Audit
·
Monetary Analysis
·
Prudential Supervision
·
Statistics and Regulatory Data Division
|
Career Options
Undergraduates: Options for
Economics and/or Finance and all other disciplines
·
Summer internships; eight week placements for
students in their penultimate year
·
Sandwich student scheme; industrial placement as
either a research assistant, project assistant or in IT support
Graduates: Options for Economics
and/or Finance, IT and all other disciplines
·
Graduate development programme; three to four
year programme working in at least two of the Bank's business areas
·
Postgraduate sponsorship; for students who have
completed a summer internship and are considering further study in economics or
finance
PhDs: Economics and related
disciplines
·
Internships: up to three months with a team
Monetary Analysis or Financial Stability
·
Permanent roles: in Monetary Analysis or
Financial Stability
Application tips:
·
Know your stuff; ensure you have a good knowledge and understanding of
what the bank and the PRA do
·
This is not an option suitable for applicants
who are solely motivated by financial gain or money (not to say the positions
are not well paid!). There is an
application question that directly relates to this around what other graduate
schemes opportunities you have applied for…
·
Have a disability? Ensure you disclose it on the
application, if you meet the entry requirements you are guaranteed an interview
·
Examples of where you have demonstrated a strong
commitment to doing something for others/the public will help
·
All applicants need to be comfortable with
analysing data. However for the non-economist
roles you are not expected to be an expert in numeracy
·
At interview expect to be asked competency based
questions so ensure you are familiar with the competencies they are looking for
and have plenty of strong examples ready
·
Year 2? Consider applying for a summer
internship
·
40% of applications are received on the deadline
day. Avoid the potential stress this may involve, start early and get it checked by a Careers Adviser
·
Application support available from Careers and
Employability, drop-in (www.keele.ac.uk/careers/aboutus/seeinganadviser/)
or email careers@keele.ac.uk
www.bankofenglandgraduates.co.uk
The Bank of England are visiting Keele on 7 November, to meet interested students. Make sure you don't miss the opportunity to find out more. Book your place at www.keele.ac.uk/careers/events
The Bank of England are visiting Keele on 7 November, to meet interested students. Make sure you don't miss the opportunity to find out more. Book your place at www.keele.ac.uk/careers/events
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