Senior Analyst, Financial Risk

In the Markets directorate, we run the Bank's lending operations in financial markets, to implement monetary policy and maintain financial stability. Within that, the Collateral Risk Team assesses the suitability and risks of collateral pledged in those operations. Over half a trillion pounds worth of assets are overseen by the team day-to-day. More are expected: as the Bank's Quantitative Easing programme unwinds, we expect that commercial banks will need to borrow more from the Bank on a regular basis - via our repo operations - thereby increasing the need for banks to bring us collateral. Beyond the team's day-to-day activities, we are also very involved in crisis and contingency planning. We are responsible for managing risks to public funds coming from any collateralised emergency lending to firms - including implementing any lessons learned from the banking failures in 2023. Our team manages a wide range of assets, currently worth over half a trillion points. The types of collateral our team is responsible for includes: portfolios of retail loans, such as mortgages and consumer loans; portfolios of corporate loans, such as asset finance and SME loans; and structured finance products secured by the same types of loan products - as detailed on our Eligible Collateral webpage. Roles in the team To meet these challenges, we are increasing the size of the Collateral Management Team. We offer an outstanding and exciting place to work - with lots of collaboration across other teams in the Markets directorate and the wider Bank - in a role which brings together elements of banking supervision, policy development, market operations, hands-on risk management and data analysis into one role. Regular interaction with external parties is central to the role. All roles in the team cover our core risk management of collateral assets. This includes:

• leading relationships with the Bank's collateral participants;
• analysing the financial risks from their portfolios of loans and assigning 'haircuts';
• assessing our counterparties' lending policies and practices;
• reviewing the risks arising from structured finance products;
• managing collateral in the event of counterparty default;
• reviewing our risk management policies and processes; and
• presenting recommendations to internal committees.
We are interested in receiving applications from a diverse pool of applicants, as this is a team that exemplifies the Bank's aim of creating a diverse and inclusive environment. In addition, colleagues across the team bring a mix of skills - ranging from data science; expertise in retail credit risk; counterparty & relationship management; structured finance expertise; counterparty default coordination; reviews of external assurance - all of which contribute in different ways to our success. As our team expands, we are looking for colleagues with any such skills - see the criteria below. While not essential, we are interested in applicants with a background in structured finance, corporate/SME lending and data science, as we are looking to increase our focus in those areas over the medium term.


• A demonstrable track record of strong data skills, analytical curiosity and good judgement
• Strong written and verbal communication skills
• A keen interest in the central bank's role in maintaining monetary and financial stability
Desirable Criteria - successful candidate may have familiarity with some of these:
• Structured finance and securitisation - markets, ratings, structuring or regulatory issues
• Client or counterparty relationship management
• Credit risk management of retail lending (consumer and residential mortgage) products
• Credit risk management for corporate and other wholesale lending products
• Financial market and/or collateral operations
• Financial regulations, supervision or assurance processes
• Advanced data analytics tools (R, Tableau, etc)
  
  Our Approach to InclusionThe Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve. At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public.We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for
candidates and employees in the recruitment process where they're needed. For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the 'Candidate Personal Information' under the 'Disability Confident Scheme' section of the application.Salary and Benefits InformationWe encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate. This role offers a salary of: Leeds from £47,430 - £54,720London from £52,730 - £60,840In addition, we also offer a comprehensive benefits package as detailed below:
• 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 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.