Counsel, Legal – Insurance and Deposit Takers Division

Posted on 1st March 2024
Type Full Time
Specialism Banking, Litigation, Public Law
Location he Bank of England, Threadneedle Street, London
Deadline 17th March 2024

Job Description

We currently have a permanent vacancy for a Scale E Legal Counsel in the Insurance and Deposit Takers Division (IDT).

IDT is the largest of the Legal Directorate’s divisions with over 50 lawyers and operates across the PRA’s full remit. 

IDT works with policy-makers to develop new prudential policy.  This is an exciting time as the PRA seeks to maximise the opportunity provided by Brexit; to adapt to market changes in areas such as climate change and FinTech; to change how we make rules and supervise; and to build a fit for purpose UK regulatory regime, grounded in international standards, which underpins a resilient and dynamic financial sector that is safely open to the rest of the world.  Our lawyers work on these projects from inception to implementation, including drafting the PRA rules that ultimately put these policies into effect. 

IDT also supports supervisors of around 1,500 banks, building societies, investment firms and insurers. We focus our legal resource on the issues and firms that pose the greatest risk to the stability of the UK financial system and policyholders.Our lawyers help supervisors to understand and deploy the PRA’s powers to address issues at PRA-regulated firms and play a particularly prominent role in shaping the PRA’s response to firms in distress.

IDT lawyers collaborate with colleagues from across Legal Directorate and the wider Bank, as well as counterparts in Whitehall, other regulators and international bodies.

As a scale E legal counsel in IDT you will provide legal advice and support to all areas of the Bank on complex legal issues, with a focus on outcomes which help the Bank to achieve its objectives. 

You will provide day-to-day leadership of projects and subject matter specialist teams within IDT, with limited supervision from senior lawyers.  You will manage client relationships in connection with those projects and subject matter areas.

You will represent the Bank and the Legal Directorate credibly in discussions with external bodies such as HM Treasury and the FCA, building effective relationships with legal counterparts in those organisations.

You will work openly and collaboratively in multi-disciplinary teams to scope and deliver against agreed timescales, ensuring that legal risk is adequately identified, managed and mitigated.  You will mentor and coach more junior colleagues.

You will routinely observe the Bank’s document and record management protocols.  You will invest time in developing your own technical knowledge to develop expertise in the relevant practice areas.  You will contribute willingly to the implementation of strategic initiatives and demonstrating the Bank’s values at all times

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Job Description – Counsel, Legal – Insurance and Deposit Takers Division (010400) (


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The Bank of England
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