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BSB summer 2016 internship – now closed to applications

Thank you for your interest in the BSB summer internship. Applications for this position are now closed.

 

We are offering a summer internship position, read on to find out more about the internship and how to apply…

 

The Banking Standards Board is a new organisation established to help raise standards of competence and behaviour across all banks and building societies doing business in the UK.

Chaired by Dame Colette Bowe, it is an independent, impartial and challenging champion of better banking standards. It is not a regulator or a lobby group; but will work with banks, their customers and staff and a range of other stakeholders to improve standards.

Its aim is to understand the cultural drivers in banks and building societies, identify shortcomings, recognise progress and promote changes made by individual firms to the benefit of the sector as a whole, to earn the confidence of customers and society more generally.

The role

Our eight-week summer internship offers real insight into both the BSB and the banking sector. As a specialised internship targeted at students building their expertise in quantitative subjects, it offers the opportunity to investigate a unique dataset being gathered to assess the culture, behaviour and competence of banks and building societies.

Your time at the BSB will be divided across two main areas.

The main project you will be involved in is the assessment the BSB is carrying out of the culture of its member firms. This is a challenging and complex exercise at the heart of the BSB’s work. As part of this we are generating a large dataset. You will be using your quantitative skills to explore this dataset, searching for patterns and insights, and thinking about how the information set collected can be improved in future years.

The second aspect of the internship, potentially working with our membership, policy, and communication teams, will allow you to gain a broader understanding of how we operate and the UK banking landscape.

This is an exciting opportunity to join a new and growing organisation with an important mandate, at a critical and formative stage, during which you can play a key role in our innovative work programme.

You’ll work alongside a high quality experienced team, and leading strategy consultants. There will be several people who will support and guide you and help ensure you get the most out of the internship. And there will be the opportunity to develop an invaluable network for the future.

The person

To be considered for the internship you will be a student who has:

  • exceptional quantitative skills, studying for a degree with a specialism in statistics, econometrics, mathematics, financial economics or similar fields;
  • an interest in financial services, and a desire to improve standards;
  • professional pride, enthusiasm, impartiality and integrity.

Benefits

You will be paid throughout your internship

Duration

Eight weeks starting at the end of June or early July 2016

Applications

The closing date for applications is 25 May 2016

If you are interested in this role, please send a covering letter together with your CV, to:

Recruitment
Ref: SI/0516
Banking Standards Board
3rd Floor
75 King William Street
London EC4N 7BE

Or email recruitment@bankingstandardsboard.org.uk

Senior Managers and Certification Regime

Exploring how the SMCR - and especially Certification - can be implemented in the most effective way across the sector.

The Senior Managers and Certification Regime is a major regulatory change that will affect all banks and building societies. Responding to recommendations by the Parliamentary Commission on Banking Standards, the government and regulators have together developed a comprehensive framework to ensure better accountability and responsibility for behaviour, competence and culture in banks and building societies. The new framework provides an opportunity for the industry to focus on and demonstrate a culture of professionalism. We are working with firms and regulators to facilitate this, including areas where a common approach across firms could support both the objectives of the regime and the skills and development of the people covered by it.

Professionalism

Evaluating whether a more 'professional' approach to banking would improve behaviour and competence across the industry.

The Parliamentary Commission on Banking Standards found that 'banking culture has all too often been characterised by an absence of any sense of collective responsibility to uphold the reputation of the industry', and argued that a greater focus on professionalism could be an answer to this. Working with a leading team at the University of Leeds, we are researching the issues around professionalism in banking. In particular, we are reviewing how professional qualifications are currently used across the sector, and at whether a stronger role for professional bodies, along the lines seen in some other sectors, like medicine or law, would help raise standards. To inform this work and develop a rounded picture of 'professionalism' and what it means in banking, we are surveying banks and building societies, professional bodies and a wide range of other interested groups, including consumer bodies and investors.

Assessments

Providing an honest and impartial assessment to Boards of progress against objectives on behaviour, competence and culture.

The BSB assessment exercise presents Boards with an objective and impartial view of their firm's culture, identifying where things are working well and recommending areas for improvement. It draws on information not only from Boards and senior teams, but also from employees, investors (or members), trade unions, customer groups and other relevant bodies. In doing so, it will provide constructive challenge to each firm individually, while building a collective understanding of common issues across the industry, or sectors within it. We undertook our first annual assessment exercise in 2015 with ten firms (Barclays, Citi, HSBC Bank, Lloyds Banking Group, Metro Bank, Morgan Stanley International, Nationwide, RBS, Santander UK and Standard Chartered). The BSB itself will not publish individual assessment reports - each firm owns its own report - but key themes and messages will be set out in the BSB's annual report, the first of which will be published in Spring 2016. Given that Board engagement is central to the assessment work, only firms that have their headquarters in the UK are eligible for the full assessment exercise. All firms, including branches of firms headquartered overseas, will however be included in a focused membership-wide survey, which will allow each participating firm to benchmark itself against its peer group.

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