Senior Analyst-IT, Specialist Change and Operational Risk

This role is based in the Change and Outsourcing team. The team's mission is to contribute to building the resilience of the sector and the UK financial institutions by supporting PRA's oversight of the risks associated with large IT transformation projects and material outsourcing arrangements at firms. Financial services firms are increasingly modernising their technology platforms and related processes including through the use of cloud-based solutions. The change and outsourcing team ensure that the largest banks and Financial Market Intermediaries in the UK are transforming their technology platforms safely and in manner that builds operational resilience both within the firm and across the financial services market. You will play a key role in analysing and understanding the detail of those transformations. You will use your experience and analysis to provide insights and guidance to supervision teams that will help to shape the future operational resilience of the most important organisations in the UK financial market. Typical role activities will include:

• Reviewing IT transformation projects and material outsourcing arrangements undertaken by PRA regulated firms and FMIs.
• Understanding, articulating, and assessing operational (IT) risks and resilience of the PRA regulated firms, FMIs and designated critical third parties.
• Supporting engagement with domestic and international regulatory authorities
• Supporting engagement with senior stakeholders at the PRA and the systemic firms and technology service providers
  
  Experience in conducting IT risk/operational resilience assessments.
• Experience in assessing risks from large-scale IT transformation programmes.
• Experience of assessing risks from outsourcing including cloud
• Experience in assessing firms' business continuity and IT disaster recovery plan and recovery testing., Good written and oral communication skills, including communicating with senior audiences, with an ability to explain complicated material in easy-to-understand ways.
• Good interpersonal skills and the ability to work flexibly as part of a team and with wider colleagues.
• Ability to contribute to a project of work, ensuring progress against plan, and keeping key partners informed.
Desirable Criteria
• Experience in financial services regulation e.g., PRA's policy statement SS1/21 and SS2/21
• Experience working within an IT outsourcing provider (e.g., cloud service providers), regulated bank or IT consultancy.
• Experience working within the three lines of defence.
  
  Our Approach to Inclusion The 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.
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 Information We 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 competitive salary. In 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.