The Bank of England is the UK's Central Bank. Each of its 5,800 people are committed to public service and dedicated to its mission to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.
The Executive Director for Property reports directly into the Chief Operating Officer and is responsible for delivering on once in a generation upgrade work for the Bank’s London and Leeds bases over the next 3 years, whilst leading the facilities management and property operations of the Bank.
The Bank’s Location Strategy Project (LSP) was launched late 2023 to optimise the Bank’s footprint, including by increasing our presence across the UK to better represent the people of the United Kingdom. In particular, the LSP is overseeing the Bank’s commitments to:
- Grow our presence in Leeds, through external recruitment and relocation from London; and establishing a permanent office
- Optimise and transform the Bank’s footprint in London including the renovation of our historic Threadneedle Street building.
As we look to successfully deliver this high-profile upgrade work, this role will require someone with excellent stakeholder management skills and a strategic mindset.
As one of the most important contact points between our senior leadership and Property teams on the ground, the ED will bring an enterprise perspective, driving best practice across the function.
They will also ensure that everything this function does is in line with the broader priorities set by the Court (our Board), enabling the Bank’s success in carrying out its mission to the country.
With responsibility for a diverse property portfolio, including overseeing the transformation of the Bank’s Threadneedle Street estate and the delivery of a significantly expanded and enhanced operational base in Leeds, this Executive Director plays a central role in shaping the future footprint of the organisation.
Alongside this they will oversee the bedding in of a newly agreed facilities management contract and the business-as-usual property operations.
This role offers substantial scope to leave a lasting legacy on this historic institution as a prominent and visible member of the Bank’s senior leadership team. Working closely with Sarah John, the COO, and contributing to Executive Committees including Audit and Risk, the post-holder will partner with Court, Deputy Governors and fellow Executive Directors to deliver major estate transformation, strengthen regional presence, and drive operational excellence and efficiency across the Bank’s Real Estate function and facilities management
Supported by the Heads of each function, the ED will:
- Provide strategic oversight of the Bank’s extensive freehold property portfolio worth £302 million.
- Deliver the transformation of the Bank’s Threadneedle Street estate, a £220 million programme of work to upgrade and renovate the Bank’s iconic heritage building.
- Oversee the expansion of our operational base in Leeds, including establishing our permanent home in the city.
- Manage the business-as-usual property function with an annual maintenance budget of £40 million.
- Lead facilities management across the Bank’s estate, including overseeing the embedding of a new facilities management contract.
Deliver on renewing infrastructure to help meet the Bank’s climate targets, including supporting the 2040 Net Zero emissions goal.
Key responsibilities include:
- Setting the strategy and roadmap for the function, while driving efficiencies and value.
- Managing the Bank’s property portfolio and its location strategy for expansion outside of London and the optimisation of its London base
Overseeing the management and optimisation of the Bank’s facilities management contract, ensuring efficient, high-quality service delivery
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.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office.
Finally, we're proud to be a member of the Disability Confident Scheme . If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Salary and Benefits Information
This role offers a competitive salary, In addition, we also offer a comprehensive benefits package as detailed below:
- Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- A discretionary performance award based on a current award pool.
- An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
Private medical insurance and income protection.
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National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice .
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
The Application Process
To support us with the recruitment of this position, we are working with executive search firm Moloney Search, please do not apply here , please send your CV and a covering letter detailing your suitability to [email protected] by the 7th July.
