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Operational Resilience Analyst

• Sterling Markets
• Foreign Exchange
• Market Intelligence
• Financial Risk Management
• Middle Office
• Markets & Banking COO

An opportunity has arisen for an analyst to join the Operational Resilience team in Markets, Banking, Payments & Resolution Chief Operating Officer Division (MBPR COOD) to help shape, implement and embed the operational resilience work for the Governorship.

The Operational Resilience Team in MBPR COOD is looking for an analyst to join the team. The role holder will get involved in all areas of operational resilience work across MBPR with a particular focus on cyber risk. The role offers the opportunity for cross-Bank working with a variety of stakeholders across all areas of MBPR as well as into other parts of the Bank, most notably Executive Risk and Resilience Division (ERRD) and Central Services, such as Technology and Cyber Security Division (CSD).

MBPR strives to maintain the highest levels of resilience and readiness across our critical business functions. This includes developing our capability to respond to, and recover from, disruption as well as identifying and considering our approach to dealing with emerging external shocks (e.g. Covid, Cyber Threats).

The role requires a mix of skills including an eye for detail, good stakeholder management and the ability to connect with a variety of stakeholders. We are keen for candidates to have an interest in Operational Resilience and Business Continuity but a particular curiosity about cyber risk would be a benefit.

This role is suited to flexible working.

Department Overview

The MBPR COOD’s mission is to support the effective delivery of strategy in the areas of responsibility of the MBPR Deputy Governorship. It takes the lead on cross-divisional issues relating to business planning, change delivery, operational risk, and provides support and challenge to:

• Lead and monitor operational risk and improve our operational resilience;
• Prioritise and mobilise local and central (Technology, People & Culture, Project) resource to achieve our strategic objectives;
• Maintain the highest standards of governance and change management;
• Achieve strategic people priorities, relating to recruitment, training and development.
  
  

Role Overview

The work is varied and while it will be weighted towards a focus on cyber risk, there will be plenty of opportunity to also support the coordination of MBPR’s wider Operational Resilience work, including business continuity management. Responsibilities will include:

• Supporting the team’s objective to better understand the cyber risk to MBPR and articulate to Cyber Security Division to help shape future Cyber Defence work streams.
• Working closely with Operational Risk colleagues (in MBPR COOD) to reflect cyber risk in to our risk registers and identify mitigating controls and impact.
• Working with Technology, Cyber Security Division and other stakeholders to prepare our annual SWIFT Customer Security Programme attestation.
• Providing analytical support to the team to enhance MBPR’s Business Continuity plans, including alignment to the PRA’s Operational Resilience Policy by:
• Helping to operationalise a governorship wide approach to exercising to better plan, deliver and learn from experiences.
• Understanding the regulatory Operational Resilience Policy and working with central and local teams to support co-ordination of MBPR’s work to align.
• Regular collaboration with the central Risk and Resilience team, taking the lead on responding to Business Resilience queries, developing new initiatives and continuous improvement.
• Provide secretariat to the Operational Resilience Board for MB&R, helping prepare and present updates and maintain and monitor actions and related workstreams.
  
  

Job Requirements

Specific prior experience or technical knowledge are not crucial although these would be useful. However, the role holder will rely on a broad knowledge of all the activities across MBPR with a desire to develop this knowledge being vital.

Minimum (Essential) Criteria

A strong candidate will display the following skills:

• Good analytical ability and able to work through a problem quickly
• Good communication and influencing skills - both in writing and verbally - with colleagues both within and outside the governorship
• Pro-activity and drive, whether working autonomously or as part of a team to deliver results
  
  

Desirable Criteria

• Knowledge and experience of standard methodology in cyber risk management (strongly desirable)
• Knowledge of how the Bank operates in the financial markets and the roles played by MBPR (desirable)
• Knowledge of Operational Resilience Policy and/or Business Continuity Management (desirable)
  
  

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.

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. You can find more information on what this means here. 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

This specific role offers a base salary of circa £36,860 - £43,650 per annum (depending on skills and experience) on a full-time basis. 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.

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 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. (Note that from April 2023 and for the Benefits year 2023/24, this will increase to 8%)
• 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.

National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice at Privacy and the Bank of England | Bank of England.

The Application Process

Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

The closing date for applications is 16 April 2023. The assessment process will comprise of two stages.