Appointment details

Non-Executive Directors - Court of the Bank of England

Summary

• Organisation: Court of Directors of the Bank of England, with the exception of the Governor and Deputy Governors
• Sponsor department: HM Treasury
• Location: London
• Sectors: Finance and Audit
• Skills: Business, Transformation
• Number of vacancies: 2
• Time commitment: 3 day(s) per month
• Remuneration: £20,000 per annum
• Length of term: 4 years
• Application deadline: 1pm on 26 March 2026

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Timeline for this appointment

1. Opening date

   19 February 2026

2. Application deadline

   1pm on 26 March 2026

3. Sifting date

   9 April 2026

4. Interviews expected to end on

   20 May 2026

Timeline dates are only an estimate and can change

About the appointment

Introduction

As the country's central bank, the Bank of England sits at the heart of the UK’s economy and financial system. Its mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.

The Bank was founded in 1694 and its roles and functions have evolved and changed over its three hundred-year history. Since its foundation, it has been the Government's banker and, since the late 18th century, it has been banker to the banking system more generally – “the bankers' bank”. The Bank is perhaps most visible to the general public through its banknotes, having had a monopoly of the issue in England and Wales since the middle of the 19th century. Through its market operations it is the ultimate source of reserves to the banking system, and its “Bank Rate” is the benchmark for all short-term sterling interest rates. It also manages the UK's foreign exchange and gold reserves and operates the high value payment system (RTGS). 

The Bank is owned by the UK Government and is accountable to both Parliament and the general public. In 1997 the Bank was given operational independence to set interest rates so as to achieve a monetary stability target set by the Government – currently an inflation target based on the Consumer Prices Index. Policy decisions – relating both to Bank Rate and to the Asset Purchase programme - are taken by the Bank’s Monetary Policy Committee (MPC) and implemented through the Bank’s financial market operations. 

The Bank’s role in promoting financial stability was expanded following the crisis of 2007-09. In 2009 the Bank became responsible for the resolution of failing banks, and for the oversight of payment systems. The Bank was then given a statutory objective to “protect and enhance the stability of the financial system”. In 2013 its Financial Policy Committee (FPC) was given powers to act against threats to the resilience of the financial system and, through its Prudential Regulation Authority (PRA), the Bank became responsible for ensuring the safety and soundness of individual banks and insurers. The Bank also became responsible for the supervision of financial market intermediaries such as payment and clearing systems, which is overseen by the Financial Market Infrastructure (FMI) Committee. 

The Bank is governed by a Court of Directors, appointed by the Crown. The executive management is led by the Governor, supported by four Deputy Governors and a Chief Operating Officer. 

The Bank employs around 5,700 staff and has a total gross expenditure of around £855 million per annum. This is funded through a mixture of income generated from deposits placed by banks and other deposit-takers and fees and levies charged for some of the activities it performs. 

Introduction from the Chair

Thank you for your interest in joining the Bank of England’s Court of Directors as a Non-Executive Director.

Non-Executive Directors play a vital role in scrutinising the Bank’s performance, operations, risk management and financial controls. You will have the opportunity to serve on one or more of the sub-committees of Court. 

The Bank is one of the UK’s most important institutions, with wide-ranging responsibilities. The Court has been the Bank’s governing body since 1694, overseeing the Bank as an institution, and providing the necessary governance to enable it to achieve its objectives effectively and efficiently. 

Inclusion is a top priority for the Bank. The recruitment panel particularly encourages applicants from underrepresented groups so the Bank can better reflect the society it serves, encourage diverse ideas, and be open to perspectives that challenge prevailing wisdom. 

Thank you, once again, for your interest in this role and for taking the time to read through this pack. We look forward to hearing from you. 

David Roberts

Chair, Court of Directors, Bank of England

Appointment description

The Bank of England serves as the United Kingdom’s central bank. Its governing board, the Court of Directors, comprises the Governor, four Deputy Governors, and up to nine Non-Executive Directors, one of whom is appointed Chair of Court. The Court is responsible for managing the Bank’s affairs, setting its objectives, strategy and risk appetite, and overseeing the Bank’s performance against its statutory and other objectives. It ensures the effective discharge of the Bank’s functions and the efficient use of its resources.

Non-Executive Directors play a vital role in scrutinising the Bank’s performance, operations, risk management, and financial controls. Appointees can expect to serve on one or more sub-committees of Court, such as Remuneration, Audit and Risk. Non-Executive members also have the right to observe meetings of the Bank’s four main policy committees: the Monetary Policy Committee, Financial Policy Committee, Prudential Regulation Committee, and Financial Market Infrastructure Committee.

We are recruiting for two Non‑Executive Director roles: one with an Operational / Transformational Change focus, and one with a Trade Union / Workforce Engagement focus. All candidates should meet the overall person specification; each role also has additional criteria as set out below.

Appointments are made in a personal capacity. The anticipated time commitment is two to three days per month, with the appointment expected to commence in H2 2026.

Organisation description

The Court of Directors is a unitary board with five executive members and up to nine non-executive members. It meets at least seven times a year. All members of Court are appointed by the Crown. 

While specific policy responsibilities are reserved to the statutory committees, the Court of Directors is required by the 1998 Bank of England Act to “manage the Bank’s affairs”, other than the formulation of monetary policy. It must determine the Bank’s objectives and strategy, and ensure the effective discharge of the Bank’s functions and the most efficient use of the Bank’s resources. It takes the major decisions on finance, resources and appointments.  

Court also keeps under review the Bank’s performance in relation to its objectives, the exercise of the Bank’s statutory functions and the processes of the policy committees.  Members of Court may observe the meetings of the policy committees and the FMI Board and are supported by an Independent Evaluation Office (IEO). The Court may commission internal or external performance reviews (including, retrospectively, into policy decisions); and it has responsibility for monitoring the Bank’s response to recommendations arising from such reviews.  

The Court approves the Bank’s budget, which reflects the strategy that it determines, and monitors outturns and the delivery of objectives. It is also responsible for agreeing the Bank’s dividend, treasury management and risk management policies. 

The Bank of England Act 1998 (and subsequent legislation) has emphasised accountability and transparency, in the context both of the policy processes and of the Bank’s operations and finances. The Court is responsible for producing the Bank’s annual report and accounts for the Chancellor of the Exchequer to lay before Parliament. Members of Court are likely to be called to give evidence about the Bank before Parliamentary Committees. The National Audit Office (NAO) may conduct reviews of the Bank’s efficiency and effectiveness, reporting to the Public Accounts Committee.

It is for the Court to decide its own procedures, but it is expected to operate in line with corporate governance best practice. The Court has an Audit and Risk, Remuneration and Nomination committees – in these respects, and in relation to its accounts, the Bank generally conducts itself as though it were a public company. Non-Executive Directors serve as members of one or more of the committees of Court, including potentially as a committee chair. 

Board composition

The Court of Directors is a unitary board with five executive members and up to nine non-executive members. It meets at least seven times a year. All members of Court are appointed by the Crown. For further information please visit the Bank of England website.

Regulation of appointment

This post is regulated by the Commissioner for Public Appointments. For more information, please refer to the Commissioner’s website 

Person specification

Essential criteria

Essential Criteria (for both roles)

Communication 

• Strong communication and interpersonal skills, with the ability to listen, accept challenge, and constructively challenge others, demonstrating clarity and respect in discussions.

Stakeholder Engagement 

• Proven ability to build and maintain effective relationships with a wide range of stakeholders, including senior Bank officials, government Ministers, HM Treasury, other regulatory bodies, financial sector participants, and public interest groups.
• Able to represent the Court credibly and foster constructive dialogue internally and externally.

Judgement 

• Effective decision-making skills, with the ability to critically analyse complex information and make clear, objective, evidence-based recommendations to support the Bank’s objectives.

Collaboration 

• Ability to work closely with the executive, board, and other key stakeholders, providing support, constructive challenge, and assurance as appropriate.

Personal Qualities: 

• Leaders within their professions, with strong technical, financial and/or organisational acumen as appropriate to the role, and an interest in public policy, especially economic and financial matters.
• Unquestioned integrity, excellent interpersonal and influencing skills, and the ability to bring diversity of thought to the Court.

Essential Role Specific Criteria – Operational / Transformational Change focus

In addition to the standard criteria above, candidates for the Operational / Transformational Change role should demonstrate:

• Experience: Demonstrable expertise and experience in leadership at board level in a major financial services firm, listed company, or substantial multinational/private corporation.
• Knowledge: Deep understanding of large-scale organisational operations and risk, with familiarity with the use of technology, data and digital tools in complex organisations.

Essential Role Specific Criteria – Trade Union / Workforce Engagement focus

In addition to the standard criteria above, candidates for the Trade Union / Workforce Engagement role should demonstrate:

• Experience: Senior leadership within the trade union sector, such as serving as General Secretary, President, or equivalent of a major trade union or union federation; or holding a senior role in workforce engagement, or a prominent role in a relevant area of public policy or the voluntary sector.
• Knowledge: Proven track record of representing workforce interests at scale and engaging effectively with employers, government, and other stakeholders at a national level.

Desirable criteria

Desirable Role Specific Criteria – Operational / Transformational Change focus

• Additional Qualities / Experience: Experience of leading transformational change, especially in guiding large organisations in adopting emerging digital technologies and data analytics/artificial intelligence, at Chief Executive, Chief Operating Officer, or equivalent senior leader level.

Desirable Role Specific Criteria – Trade Union / Workforce Engagement focus

• Additional Qualities / Experience: Experience of leading workforce engagement at scale in a large organisation.

Application and selection process

About this appointment

Some public appointments are made by the Prime Minister, or the Crown on the recommendation of the Prime Minister. Others are made by Secretaries of State or other ministers and are of interest to the Prime Minister.

Public appointments made by or of interest to the Prime Minister

How to apply

In order to apply you will need to create an account or sign in.

Once you are logged into your account, click on 'apply for this role' and follow the on-screen instructions To apply, all candidates are required to provide:

• equality information
• information relating to any outside interests or reputational issues
• a Curriculum Vitae (CV)
• a supporting statement (please indicate which role you are applying for)

We will ask you to check and confirm your personal details to ensure your application is accurate.

You will also have the opportunity to make a reasonable adjustment request or apply under the disability confident scheme before you submit your application.

Overview of the application process

Public appointments are made on merit following a fair and open competition process which is conducted in accordance with the Governance Code for Public Appointments. We will deal with your application as quickly as possible and will keep you informed at key stages. We aim to conclude the appointment process within three months of the deadline for applications – this is in accordance with the Governance Code.

The assessment process

1. Ministers are responsible and accountable to Parliament for the public appointments made within their department. As a result, they must be consulted at every stage of the appointments process.

2. An Advisory Assessment Panel (“Panel”) is appointed by Ministers to assist them in their decision making. The role of the Panel is to decide, objectively, which candidates meet the eligibility criteria for the role.

3. At the shortlisting meeting the Panel will assess applications against the eligibility criteria and decide which candidates have best met the criteria, who should be recommended for interview. Ministers will then be consulted on the Panel’s recommended shortlist. If you have applied under the Disability Confident Scheme and you meet all the essential criteria, then you will also be invited for an interview.

4. Once the shortlist has been agreed by Ministers, you will be advised (by e-mail) whether you have been shortlisted. Those shortlisted will be invited to an interview.

5. The Panel will meet again to interview candidates and determine who is appointable to the role. The Panel may invite you to make a brief presentation at the start of the interview and will go on to question you about your skills and experience, including asking specific questions to assess whether you meet the criteria set out for the post. The Panel will also explore with you any potential conflicts of interest or any other issues arising from your personal and professional history which may impact on an appointment decision.

6. Details of the panel’s assessment of interviewed candidates are provided to Ministers, including whether they have judged a candidate to be appointable to the role. It is then for Ministers to determine merit and decide who should be appointed. In some circumstances, Ministers may choose not to appoint any candidates and re-run the competition.

7. Ministers may choose to meet with candidates before deciding the outcome. Candidates should therefore be prepared for a short time gap between interview and a final appointment decision being made. Candidates who have been interviewed will be kept informed of progress.

8. Once the decision on the appointment has been made, interviewed candidates will be advised of the outcome of their application, including whom they may approach for feedback. Successful candidates will be issued with their Terms & Conditions and a letter of appointment should they agree to take up the position.

Further information about appointments, including tips on applying, can be found on our guidance pages on gov.uk.

Advisory Assessment Panel (AAP)

James Bowler (Panel Chair, Permanent Secretary, HM Treasury)

Will be supported by:

• David Roberts (Chair of the Court, Bank of England)
• Terry Miller (Independent Panel Member, Senior Independent Director, Rothesay Life plc) 

Advisory Assessment Panels (AAP) are chosen by ministers to assist them in their decision-making. These include a departmental official and an independent member. For competitions recruiting non-executive members of a board (apart from the Chair), the panel will usually include a representative from the public body concerned.

AAP’s perform a number of functions, including agreeing an assessment strategy with ministers, undertaking sifting, carrying out interviews in line with the advertised criteria and deciding objectively who meets the published selection criteria for the role before recommending to ministers which candidates they find appointable. It is then for the minister to decide who to appoint to the role.

Eligibility criteria

In general, you should have the right to work in the UK to be eligible to apply for a public appointment.

There are a small number of specialist roles that are not open to non-British citizens. Any nationality requirements will be specified in the vacancy details.

The Government expects all holders of public office to work to the highest personal and professional standards. 

You cannot be considered for a public appointment if:

• you are disqualified from acting as a company director  (under the Company Directors Disqualification Act 1986);

• have an unspent conviction on your criminal record;

• your estate has been sequestrated in Scotland or you enter into a debt arrangement programme under Part 1 of the Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) as the debtor or have, under Scots law, granted a trust deed for creditors.

When you apply, you should declare if:

• you are, or have been, bankrupt or you have made an arrangement with a creditor at any point, including the dates of this. 

• you are subject to a current police investigation.

You must inform the sponsor department if, during the application process, your circumstances change in respect of any of the above points. 

When you apply you should also declare any relevant interests, highlighting any that you think may call into question your ability to properly discharge the responsibilities of the role you are applying for. You should also declare any other matters which may mean you may not be able to meet the requirements of the Code of Conduct of Board Members (see Outside interests and reputational issues section below)

If you need further advice, please contact publicappointments-hmt@hmtreasury.gov.uk.

Security clearance

The successful candidate will be required to undertake Baseline Personnel Security Standard checks in line with the Civil Service guidelines. Additional Security Clearance may also be required for certain roles. However, where this applies, candidates will be notified during the appointment process. Further information on National Security Vetting can be found on the Gov.uk website here.

Additional information for candidates

Equality and diversity

We encourage applications from talented individuals from all backgrounds and across the whole of the United Kingdom. Boards of public bodies are most effective when they reflect the diversity of views of the society they serve.

We collect data about applicants’ characteristics and backgrounds, including information about people’s educational and professional backgrounds, so that we can make sure we are attracting a broad range of people to these roles and that our selection processes are fair for everyone. Without this information, it makes it difficult to see if our outreach is working, if the application process is having an unfair impact on certain groups and whether changes are making a positive difference.

When you submit your application, your responses are collected by the Cabinet Office and the government department(s) managing your application. The data is used to produce management information about the diversity of applicants. You can select “prefer not to say” to any question you do not wish to answer. The information you provide will not be seen by the Advisory Assessment Panel who review applications against the advertised criteria and conduct interviews.

Disability confident

We are a member of the Government’s Disability Confident scheme. We use the Disability Confident scheme symbol, along with other like-minded employers, to show our commitment to good practice in employing people with a disability. The scheme helps recruit and retain disabled people. As part of implementing the scheme, we guarantee an interview for anyone with a disability whose application meets the essential criteria for the role, set out in the advert, and who has asked that their application is considered under the scheme. Indicating that you wish your application to be considered under the scheme will in no way prejudice your application. By ‘essential criteria', we mean that you must provide evidence which demonstrates that you meet the level of competence required under each of the essential criteria, as set out in the job-advert. When you apply you will have the opportunity to select if you would like your application considered under this scheme.

Reasonable adjustments

We are committed to making reasonable adjustments to make sure applicants with disabilities, physical or mental health conditions, or other needs are not substantially disadvantaged when applying for public appointments. This can include changing the recruitment process to enable people who wish to apply to do so.

Some examples of common changes are:

• ensuring that application forms are available in different or accessible formats;
• making adaptations to interview locations;
• allowing candidates to present their skills and experience in a different way;
• giving additional detailed information on the selection / interview process in advance to allow candidates time to prepare themselves;
• allowing support workers, for example sign language interpreters;
• making provision for support animals to attend.

When you apply you will have the opportunity to request reasonable adjustments to the application process.

Principles of public life

The Seven Principles of Public Life (also known as the Nolan Principles) apply to anyone who works as a public office-holder.

1. Selflessness

Holders of public office should act solely in terms of the public interest.

2. Integrity

Holders of public office must avoid placing themselves under any obligation to people or organisations that might try inappropriately to influence them in their work. They should not act or take decisions in order to gain financial or other material benefits for themselves, their family, or their friends. They must declare and resolve any interests and relationships.

3. Objectivity

Holders of public office must act and take decisions impartially, fairly and on merit, using the best evidence and without discrimination or bias.

4. Accountability

Holders of public office are accountable to the public for their decisions and actions and must submit themselves to the scrutiny necessary to ensure this.

5. Openness

Holders of public office should act and take decisions in an open and transparent manner. Information should not be withheld from the public unless there are clear and lawful reasons for so doing.

6. Honesty

Holders of public office should be truthful.

7. Leadership

Holders of public office should exhibit these principles in their own behaviour and treat others with respect. They should actively promote and robustly support the principles and challenge poor behaviour wherever it occurs.

Code of conduct for board members

The Government expects all holders of public office to work to the highest personal and professional standards. In support of this, all non-executive board members of UK public bodies must abide by the principles set out in the Code of Conduct for Board Members of Public Bodies. The Code sets out the standards expected from those who serve on the boards of UK public bodies and will form part of your terms and conditions of appointment.

Management of outside interests and consideration of reputational issues

Holders of public office are expected to adhere and uphold the Seven Principles of Public Life and the Code of Conduct for Board Members of Public Bodies. Before you apply you should consider carefully: 

• any outside interests that you may have, such as shares you may hold in a company providing services to government; 
• any possible reputational issues arising from your past actions or public statements that you have made; 
• and/or - any political roles you hold or political campaigns you have supported; 

which may call into question your ability to do the role you are applying for.

You will need to answer relevant questions in relation to these points when making an application. Many conflicts of interest can be satisfactorily resolved and declaring a potential conflict does not prevent you from being interviewed. If you are shortlisted for an interview, the panel will discuss any potential conflicts with you during that interview, including any proposals you may have to mitigate them and record that in their advice to ministers. Alongside your own declaration, we will conduct appropriate checks, as part of which we will consider anything in the public domain related to your conduct or professional capacity. This may include searches of previous public statements and social media, blogs or any other publicly available information. The successful candidate(s) may be required to give up any conflicting interests and their other business and financial interests may be published in line with organisational policies. 

Details of declared political activity will be published when the appointment is announced, as required by the Governance Code (political activity is not a bar to appointment, but must be declared).

Status of appointment

As this is an office holder appointment, you will not become a member of the Civil Service. You will not be subject to the provisions of employment law.

Appointment and tenure of office

Appointments are for the term set out in this advert, with the possibility of re-appointment for a further term, at the discretion of Ministers.  Any re-appointment is subject to satisfactory annual appraisals of performance during the first term in the post. There is no automatic presumption of reappointment; each case should be considered on its own merits, taking into account a number of factors including, but not restricted to, the diversity of the current board and its balance of skills and experience. In most cases, the total time served in post will not exceed more than two terms or ten years in any one post. 

Remuneration, allowances and abatement

Remuneration for this role is treated as employment income and will be subject to tax and National Insurance contributions, both of which will be deducted at source under PAYE before you are paid. 

You can claim reimbursement for reasonable travel and subsistence costs which are properly and necessarily incurred on official business, in line with the travel and subsistence policy and rates for the organisation to which you are applying. However these payments are taxable as earnings and will be subject to tax and national insurance, both of which will be deducted at source under PAYE before you are paid.  

Pension and redundancy

This is an office holder appointment and does not attract any benefits under any Civil Service Pension Scheme. You will not be eligible for redundancy pay as you are not an employee. No other arrangements have been made for compensation upon the end of your term of appointment because an office holder who is appointed for a limited duration would have no expectation of serving beyond that period.

Application feedback

We will notify you of the status of your application. We regret that we are only able to offer detailed feedback to candidates who have been unsuccessful at the interview stage.

How to complain

We aim to process all applications as quickly as possible and to treat all applicants with courtesy.

Please contact the HM Teasury Public Appointments Team in the first instance if you would like to make a complaint regarding your application at publicappointments-hmt@hmtreasury.gov.uk. They will acknowledge your complaint upon receipt and respond within 15 working days.

How to complain to Office of the Commissioner for Public Appointments (OCPA)

If you are not content with the appointing department’s response you may wish to further complain to the Commissioner at publicappointments@csc.gov.uk.Further information on how the Commissioner handles complaints can be found on the Commissioner for Public Appointments’ website https://publicappointmentscommissioner.independent.gov.uk/regulating-appointments/investigating-complaints/

Data protection

The Cabinet Office will use your data in line with our privacy policy.

HM Treasury Privacy Notice.

Attachments

• Candidate Pack

Contact details

If you have any queries please contact HM Treasury Public Appointments team - publicappointments-hmt@hmtreasury.gov.uk.