Senior Risk Specialist - Risk & Resilience Assessment Team (SRS)

£59,400 - £82,800 + pension & flexible benefits
28 Jun 2021
30 Jul 2021
Contract Type
Full Time

The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

As a directorate of the PRA, the Supervisory Risk Specialists (SRS) provides deep technical expertise and applies judgement in specific risk disciplines as part of the PRA’s integrated supervisory approach, in order to identify, analyse and mitigate material risks to the safety and soundness of PRA regulated firms.  These material risks can arise within and across firms and from the market environment.

Department Overview

Operational Risk and Resilience Division (ORRD) leads the PRA’s work on Operational Resilience (OR). This work informs and shapes the PRA’s approach to supervision, assessment and evaluation of OR.

Job description

An opportunity has arisen for a Senior Risk Specialist to join Operational Risk & Resilience Division (ORRD). The role will help craft and execute our supervisory approach and engagement. The role presents an exciting and dynamic set of challenges and is suited to someone with a background in technology risk, cyber risk, business continuity, information security etc.

Key responsibilities include:

  • Stay abreast and informed of the evolving regulatory landscape and the current OR challenges facing UK financial sector firms and the authorities.
  • Support and contribute to the development of robust supervisory frameworks and assessment tools and provide training and assistance as required.
  • Work with Supervision to deliver OR technical assessments (including IT and cyber resilience), working with firm supervisors and other SRS specialists to support implementation of the supervisory toolkit.
  • Planning for assessments including producing terms of reference, plan of work to perform and information requests.
  • Provide technical and analytical expertise in the implementation of resilience assessments (including IT and cyber).
  • Perform thematic analysis of assessment results and present key themes and conclusions.
  • Support and where applicable lead meetings with firms discussing OR capabilities and providing challenge to firms’ approaches.
  • Support the application and implementation of the OR policy framework using appropriate tools to ensure that the Bank’s strategic operational resilience objectives are met.
  • Present on the progress and efficiency of resilience assessments and make suggestions for improvement as required.
  • Build and maintain relations across the PRA, Bank and FCA as appropriate.
  • Produce reports and support the production and drafting of papers for governance groups on key risk and resilience trends and changes.

Role Requirements

Minimum Criteria

  • Experience of delivering technical reviews in either Operational Resilience or related fields such as technology risk, cyber risk, business continuity, information security, IT change management, etc.
  • Experience of operational resilience gained within a risk management function.

Essential Criteria

  • Experience in synthesising technical information for senior partners and to present conclusions and recommendations.
  • Experience in supporting colleagues (and where relevant lead discrete pieces of work) in multiple internal and external partner engagements to deliver sophisticated projects.
  • Ability to represent the Bank’s position on key matters internally, leading meetings, and adapting personal style to be flexible.
  • Be a highly motivated and independent problem solver to provide challenge within your subject matter expertise. 
  • Strong communication skills, both oral and written.


Reward Package

As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.

The salary range for this vacancy is £59,400 - £82,800, dependent on relevant skills, qualifications and experience. In addition, the total reward package also includes: 

  • A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
  • A discretionary performance award based on a current award pool.
  • A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
  • 25 days annual leave with option to buy up to 13 additional days through flexible benefits.
  • Private medical insurance and income protection.


Closing Date: 30 July 2021

To find out more and apply, please click Apply now.

Similar jobs

Similar jobs