Students at West Nottinghamshire College have gained a fascinating insight into the workings of the Bank of England during a special visit from a senior manager whose own educational journey began in Mansfield.
(Left to right) Curriculum area lead Judith Stockwell, Dexter Stafford, Daniel Luzbinin, Imtiaz Ahmed, Tarkus Frost, Charlotte Underwood, Isaac Scothron and Tom Herrett.
Tarkus Frost, senior manager for trade and risk at the Bank of England, returned to his hometown on Wednesday 14 October to speak to A Level and business studies students at the college’s Mansfield and Ashfield Sixth Form College, on Chesterfield Road.
The visit gave students an opportunity to learn about the role of the UK’s central bank, explore the complexities of the financial system and discover the range of career and apprenticeship opportunities available within the organisation, while giving them gaining inspiration from a former local student who has gone on to forge a successful career at one of the UK’s most influential financial institutions.
Having grown up and attended school in Mansfield, Tarkus also studied at West Nottinghamshire College before progressing to Loughborough University, where he completed a degree in economics.
Tarkus outlined his educational background before working at the Bank of England.
He joined the Bank of England in 2005 and has since built an extensive career spanning monetary policy, financial stability and risk management.
During his presentation, Tarkus explained how the Bank of England works to maintain monetary and financial stability, including its role in setting interest rates, overseeing banks and insurance companies and responding to major economic challenges.
Drawing on his own experiences, he described his involvement in significant financial events, including the 2008 banking crisis and the introduction of quantitative easing in 2009, when the Bank of England began purchasing assets to support the economy.
Subjects covered included quantitative easing, interest rates, monetary financial stability and major economic challenges.
He also outlined his current responsibilities, which include managing financial risks associated with the bank’s balance sheet, developing investment strategies and providing specialist treasury and risk advice.
Students were encouraged to participate throughout the session, with interactive quizzes testing their knowledge of the Bank of England’s history, responsibilities and leadership.
Tarkus also shared his personal career journey, explaining how his interest in sport initially led him to consider physiotherapy before he eventually chose to study economics.
His experiences demonstrated that career paths are not always straightforward and that students do not necessarily need to have their futures mapped out at an early age.
The session also highlighted the Bank of England’s apprenticeship opportunities, giving students an insight into alternative routes into the financial sector and the chance to develop professional skills while gaining valuable workplace experience.
An open question-and-answer session allowed students to explore topics ranging from economic policy and financial crises to working life at the bank and the skills needed to pursue a career in finance.
Students got involved in an interactive quiz.
Among those attending was 17-year-old Tom Herrett, who is studying A Levels in politics, history, philosophy and business studies.
Tom said: “Tarkus’s visit really opened my eyes to the powers and responsibilities of the Bank of England, particularly its use of quantitative easing and tightening to influence the economy.
“It was fascinating to learn more about the bank’s day-to-day responsibilities, and I was also intrigued by the different career opportunities available within the organisation.”
Curriculum area lead at the college Judith Stockwell said: “Tarkus did an amazing job of making some very complex topics accessible to our students. It was amazing to hear directly from the person who actually purchased the first government bond when quantitative easing was launched in 2007.
“The fact that he is local to Mansfield and studied at West Notts College made him a great role model. Dream big!”
Tarkus joined the Bank of England in 2005.