Senior Analyst, Specialist 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 the authorities' oversight of the risks associated with large IT transformation projects and material outsourcing arrangements at firms.

The post holder will support workstreams around assessing firms against regulatory expectations as part of the Bank's approach to operational risk and resilience. This may include:

• Performing reviews of IT transformation projects and outsourcing arrangements within the PRA regulated firms and FMIs, including on a thematic basis


• Understanding, articulating and assessing operational risk and resilience management of the PRA regulated firms, FMIs and designated critical third parties


• Providing support for the development and implementation of IT Change and outsourcing related policies


• Supporting engagement with domestic and international regulatory authorities


• Supporting engagement with senior stakeholders at the PRA and the systemic firms and technology service providers.
  
  Good experience of conducting risk assessments in at least one of IT risk/Operational resilience areas:


• IT change programmes/transformation risks


• Cloud and other outsourcing risks


• Business continuity / IT disaster recovery planning and recovery testing


• Policy development and assessment, Strong analytical abilities and a capability to develop own ideas from first principles, working with minimal support from senior team members


• Excellent written and oral communication skills, including communicating with senior audiences, with an ability to explain complicated material in easy-to-understand ways


• Ability to represent the Bank and PRA credibly and professionally in both internal and external meetings


• Excellent interpersonal skills and the ability to work flexibly as part of a team and with wider colleagues


• Ability to contribute to aproject of work, ensuring progress against plan, and keeping key partners informed


Desirable Criteria

• Experience in financial services regulation e.g., SS1/21 and SS2/21


• Experience with financial market infrastructure or working in a regulated bank


• Experience working within an outsourcing provider (e.g., cloud) to the finance sector or a reputed Consulting firm


• Experience working within the three lines of defence in a regulated bank, 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. 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 circa £55,615 to £64,170. 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.