Regulatory supervision

We regulate and supervise financial services firms

What we do

You wouldn’t give money to someone you didn’t trust, would you?

Making a deposit into a bank or building society account is like giving your trust to that organisation. You trust that it will look after your money and, when you want to access that money again, it will be there. The same goes when buying a policy with an insurer, you expect it to pay out when you need it.

These are the companies that hold your money for you so that you can make and receive payments and control your financial life.

There is a responsibility that comes with that. That’s where the Prudential Regulation Authority (PRA) comes in. It is our role to ensure that financial institutions act safely and reduce the chance of getting into difficulty.

We do this by supervising firms – we create policies for them to follow as well as watch over aspects of the business, to ensure the financial services and products we all rely on can be provided in a safe and sound way.

Today we supervise around 1,500 financial institutions, including:

  • Banks
  • Building societies 
  • Credit unions 
  • Insurers
  • Major investment firms 

The Bank of England also regulates some financial market infrastructures (FMIs). These are the networks that allow financial transactions to take place, for example when people are paid their salary or pension payments into their bank accounts.

  • Authorisations, Regulatory Technology and International Supervision support the safety and soundness of firms, in a changing world, through global leadership in:

    • impactful data analytics, tools and technical capability that allow the PRA to make the most of its data and information, underpinned by relevant research
    • confident and consistent supervision of international banks and investment firms, with a forward-looking and flexible approach; including working effectively with home regulators and parent groups
    • expertise and excellence in regulatory transactions and their consequences for policy and supervision
    • creating an inclusive, diverse and enjoyable place to work where we do what matters most, in close collaboration with colleagues from across the PRA and wider Bank, while continuing to enhance the way we work and develop our people

  • The Supervisory Risk Specialists provide deep technical expertise and apply judgement in specific risk disciplines. This is part of the PRA’s integrated supervisory approach, to identify, analyse and mitigate material risks to the safety and soundness of PRA regulated firms.

  • Strategy, Risk and Operations Directorate is central to the delivery of the PRA’s strategy by facilitating, challenging and assuring the PRA’s work, as a peer and partner. They are responsible for:

    • acting as a centre of operational excellence – partnering with the business and central functions of the Bank to ensure the PRA is equipped to deliver its objectives and evolving regulatory remit
    • facilitating the measurement, aggregation and comparison of risks in a clear and coherent way, to enable the PRA to respond to changes in risk dynamically and to drive decisions on prioritisation, business planning and resourcing
    • maintaining the integrity of the PRA's decision-making framework and supervisory approach, including challenging and assuring the quality of supervisory practices and judgements
    • supporting the delivery of the PRA's objectives through the publication of its internal and external communications

  • The UK Deposit Takers Supervision Directorate is responsible for the supervision of over 600 UK banks, building societies and credit unions. Our teams promote the safety and soundness of all UK deposit takers.

  • Insurance Supervision Directorate has responsibility for the supervision of over 500 UK insurance companies and branches of international insurers. We fulfil the PRA's primary objective of UK insurers safety and soundness and policyholder protection.

  • Prudential Policy Directorate are responsible for designing, negotiating internationally, and implementing effective prudential regulation in order to:

    • remove or reduce systemic risks
    • promote the safety and soundness of PRA-regulated firms
    • ensure appropriate protection for insurance policyholders

Sam Woods

Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority

Join our team

A career in prudential regulation is varied, impactful, and fulfilling. Your role could require you to:

  • meet with the CEO of a large, systemically important UK bank
  • liaise with international regulators on a complex issue impacting a large overseas bank
  • think about scenarios that could challenge the solvency of an insurance company
  • grapple with a novel business model proposed by someone looking to shake up the industry

For all roles, you must be willing to learn across a broad range of disciplines, have good analytical and problem-solving skills, combined with the ability to process, interpret and question large amounts of complex data, and work collaboratively as part of a dedicated team. The ability to communicate your findings effectively is also vital, both in person and in writing, as well as the ability to manage other important priorities/projects alongside your day to day jobs. Professional work experience is a must, because you’ll need the ability to influence and operate at a senior level.

The right skills are more important than the right background. Financial experience is not essential for all roles, though would be beneficial. The current Bank of England PRA teams include people from a range of backgrounds such as science, government, civil service and the military.

No matter what you are working on, you will be solving problems that are intellectually stimulating and directly impact Bank of England’s mission of promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

Search our vacancies

Back to top

This page was last updated 12 July 2024