Hannah
Special Resolution Unit
Classics, Oxford
The policy and the situations can be pretty fast moving in the Special Resolution Unit
(SRU). That makes it a really interesting place to work, but it also means it’s quite difficult to describe a typical day. Like a lot of areas of the Bank, we’re involved in a mixture of short-term operational work (in our case contingency planning) and longer-term policy development. That often focuses on identifying and mitigating constraints to effective resolution, building on best practice here and internationally.
Sharing knowledge and ideas
The team is made up of people with experience in lots of different areas – policy analysts, lawyers, accountants and finance specialists, as well as people with practical banking experience. Everyone on the team is approachable and always happy to share their knowledge. We will often brainstorm on issues or discuss the pros and cons of various policy options, either as a whole unit or in smaller teams.
Within the SRU, it is my team’s job to try to capture the Bank’s resolution experience and knowledge, and to develop our capacity to carry out resolutions. This involves coordinating lessons-learnt exercises and maintaining our resolution handbook – as well as developing strong relationships with external consultants and other areas of the Bank.
Preparing for a resolution
On an average day, I’ll start at about nine and work until around six. I usually meet up for lunch with friends upstairs in the canteen. In the lead-up to a resolution, though, the days can be much longer and feel very busy. There are lots of different actions to be coordinated in a very short space of time, and we need to provide up-to-date briefing on the situation to the Bank’s senior executives and other areas of the Bank. During these weeks we will be in regular, close contact with colleagues at the Treasury and the Financial Services Authority.