Applications open: You can submit your CV to replace Andrew Bailey as deputy governor at the Bank of England

Lauren Fedor
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The government is hiring a replacement for Bank of England deputy governor Andrew Bailey (Source: Getty)

The Bank of England is officially looking for Mark Carney's new right-hand man (or woman) – and anyone can apply.

That's right. There is now a public listing on the Cabinet Office website looking for the next deputy governor for prudential regulation.

Applicants can submit a CV and a covering letter to the Treasury making their case for why they should get to replace Andrew Bailey as the chief executive of the Prudential Regulation Authority (PRA) – but make sure you are planning on being in London between 9 March and 18 March, when interviews are due to take place.

Bailey, who has had the job since 2013, is due to take over as chief executive of the Financial Conduct Authority (FCA) once his replacement is named at the PRA.

The full-time PRA gig pays £267,946, according to the listing, and the successful applicant will not only head up the City watchdog, but also sit on the PRA board alongside Carney.

But it won't be an easy job. According to the listing, the new deputy governor "will take up post in a time of considerable challenge and uncertainty for the global and domestic economy".

More from the official job description:

Working with the governor, the deputy governors for monetary policy, financial stability and markets and banking and the wider executive team, the new deputy governor for prudential regulation will play a central role in:

• guiding the regulatory decisions of the PRC and ensuring that continues to be regarded as a credible and effective regulator

• commanding credibility in the markets and communicating regulatory decisions to the market;

• setting the Bank’s overall strategy to deliver financial stability in the UK;

• the formulation of macro-prudential policy by the Financial Policy Committee (FPC); and

• supporting the Bank through the further reforms, including the transfer of responsibilities for the prudential regulation of banks, other deposit-takers and certain investment firms (via the Prudential Regulation Authority) from the PRA to the PRC.

There is also a long wish list of experience and attributes for a successful candidate, including "working at the most senior levels of a major bank or other financial institution" and possessing "extensive knowledge and experience of financial markets and the risk cultures therein".

Still think you have what it takes? You better get working on the application, which also includes a political activity, conflict of interest and diversity monitoring questionnaire. Submissions close at 5PM on 4 March.

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