Threadneedle Street

Programmes available:

Internships, First Degree Graduates

Responsible for:

Solving the ‘too big to fail’ problem that saw taxpayers bail out banks during the financial crisis. We’re doing this by defining the domestic and international policy frameworks for how the UK authorities should approach the failure of financial institutions. This involves:

  • Designing plans for implementation when a financial institution fails
  • Developing new legal and operational tools to enable losses to be allocated to creditors, to reduce the need for public sector support
  • Identifying where changes to banks are required to ensure they can be credibly and feasibly resolved.

We’re developing a whole new area of the UK regulatory landscape. This makes our work dynamic, fascinating, and at the forefront of global finance.

What big issues might I be working on?

Some of the biggest issues in finance. The G20 Summit requested the Financial Stability Board, chaired by Governor Mark Carney, to develop proposals to ensure the world’s largest banks can fail in an orderly manner. We’re leading the Bank’s response by:

  • Develop the UK’s policy position on these proposals
  • Providing briefings to banks’ leaders
  • Working with colleagues around the world to produce international reports
  • Representing the Bank at overseas working groups.

What sort of things could I do here?

Our graduates deliver work that shapes the future of financial services. They take on a range of responsibilities in a variety of topics, including:

  • Developing the international policy framework to make resolvability work
  • Contingency planning for firms approaching the point of crisis
  • Executing a resolution in a live case
  • Developing cooperation agreements between international resolution authorities and running simulation exercises
  • Engaging with domestic stakeholders to improve outcomes in resolution.

This variety means that the opportunities to learn about the financial sector, and develop new skills, are second to none.

What could I be doing day-to-day?

There’s no telling, because virtually the entire global financial industry is in some way relevant to resolution.  On any given day, you could be:

  • Writing a note for Governors to advise on key aspects of foreign law, or how to prevent combative behaviour during a resolution
  • Attending meetings in Canary Wharf to discuss conduct risks
  • Using your research and analytical skills to develop new policy proposals

Reviewing a submission from firms about proposed changes to help deliver resolvability.