Policy Research Assistant Review

I really enjoyed my placement as I was given responsibilities above what I would have expected a placement student to be given. I was given enough guidance, however I could be independent during my day to day role. I was able to complete secondments and network with individuals from other directorates. This helped me to further understand what the Bank does and narrow down the areas I wanted to apply to for a graduate role.

There were some difficult times when the team had a high workload. We were each focusing on our own projects. However, the team came together in weekly meetings to share what we were working on and I used these meetings to show the value I was adding to the team. Towards the end of my placement my team made it clear how much I had contributed.

My placement was a bit different to most of my peers. My manager left a month into my placement and a new manager was recruited 10 months later. It was up to me to arrange meetings with the senior manager and team members if I needed guidance. They were all very approachable so this wasn’t an issue. I enjoyed the independence and ownership of my projects

My workload varied week to week. Sometimes I would be too busy and would have to put in extra hours, whereas other weeks I would be able to help out members of the team with their projects. The team all did their best to organise workloads, however in policy there are busier and quieter periods which weren’t in our control.

I was given a lot of responsibility after my manager left. I independently represented the Policy department at firm meetings facing C-level staff. This involved explaining policy and defending the policy rationale when private banks were unwilling to comply. I also ran a project which involved working against tight deadlines with staff frommultiple directorates. I also prepared briefings for directors and Head of Departments.

There were a lot of training sessions offered by the Bank of England. I made the most of these (for example sessions on financial markets, excel, drafting policy). I will take this knowledge back to my final year of university. The biggest developments I’ve made are in soft skills. I’ve grown in confidence and have development negotiating skills from the firm meetings I attended.

Everyone was very friendly in the office. I could approach anyone if I needed assistance or an overview into what they worked on. I was comfortable arranging meetings or coffees with people I hadn’t previously met as the culture at the Bank was so open. Coffee randomisers and regular team lunches helped make a friendly atmosphere within the office.

HR were very organised and helped make sure the placement students knew the process. They organised ‘Getting to know the Bank’ sessions which helped us learn about the different areas of the Bank. HR helped me set up a secondment and gave me useful contact details to help me look into my preferred career path - actuarial.

The Bank was happy for the placement students to enrol in multiple training sessions. Managers were happy for me to take a few sessions away from my desk so I could focus on self development. My team was happy for my to complete a secondment within another directorate in order for me to see if I enjoyed working in a more analytical role.

I applied for a graduate role within the Actuarial scheme in Insurance. This is my preferred career path as it is firm facing whilst still be analytical. The Bank has offered me a role to return to next September and will fund my actuarial qualifications with study days included in my contract. I have accepted this role.

Placement students were very sociable inside and outside of the Bank. We had lunch daily and made after work plans almost every weday. This helped build a network of friendly faces across the Bank that I could talk to. My colleagues were sociable and arranged regular lunches together.

London was expensive however with good budgeting and living at home I was able to live comfortably. I’m aware the Bank can offer a loan when placement students join to help them pay for transport costs. The lunch in the canteen was well priced and multiple bars near work had happy hour.

There was a lot of choice around Bank with varying price ranges. Most bars had offers if you booked in advance or if you turned up in larger groups. There are also restaurants and clubs so there’s something for everyone.

The Bank has a lot of sociable groups and sports. I was particularly interested in the Women in Banking group.