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Operational Risk & Resilience Hub Senior Technical Specialist

- (008498)

Primary Location UK-ENG-London

Job Banking

Organisation 664000 - MID-TIER BANKS

Job Posting 01-Mar-2023, 3:28:58 AM

UKDT Operational Risk & Resilience Hub – Senior Technical Specialist (scale D)

Overview

The UK Deposit Takers directorate (UKDT) is responsible for the supervision of over 600 UK banks, building societies and credit unions, including of the most systemic, complex banking groups through to some of the most innovative new banks in the UK. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision. Its work cuts across most – if not all – of the Bank’s strategic goals, and it is instrumental to their delivery.

UKDT’s Operational Risk & Resilience (ORR) Hub is the cross-cutting team supporting all firms within UKDT. Establishing operational resilience in our prudential framework is one of the PRA’s strategic goals. This role presentves a great opportunity to build and showcase expertise in that area and influence the way we supervise it.

UKDT has a strong focus on staff development and wellbeing. We consider it a priority to foster a diverse and inclusive environment that allows everyone to reach their potential.

Job description

We are recruiting for an influential scale D Senior Technical Specialist to lead the technical work and strategy of the UKDT Operational Risk & Resilience Hub. The role holder will be responsible for:

Strategic leadership on operational risk and resilience

• Providing thought leadership on operational risk and resilience. This includes overseeing and influencing the development and implementation of our approach to assess the effectiveness of operational risk management frameworks including the management of third party and outsourcing risks, specific IT risk reviews and operational resilience more widely across UK firms.

• Thought leadership also includes consideration of horizon macro and micro risks and their potential impacts on firms’ operational risks. Leading, supervising and participating in multi-discipline projects, working with other teams across the Bank.

• Leading the process by which the team actively reviews the effectiveness of firms’ ORR frameworks making recommendations on whether these present risks to firms’ safety and soundness and financial stability. Working jointly and collaboratively with Supervisors, Supervisor Risks Specialists (SRS), Policy and Legal to arrive at timely and appropriate outcomes.

Managing stakeholders and technical expertise

• Providing strong management to the technical specialists in the ORR Hub (2 FTE).
• Working with the ORR Hub’s senior manager to set out the ORR strategy and plan the team’s work, prioritising risk reviews both idiosyncratic and thematic. This includes setting out the agenda for non-systemic firms, including providing peer analysis for all areas of operational risk and resilience.
• Ensuring the team's output is of high quality effectively supporting the demands of supervision and thematic firms’ operational risks, both reactive and proactively. This includes reviewing papers, applying appropriate quality assurance to the analysis and providing steers to meet the PRA’s objectives.
• Being a role model for each individual’s career development within the team, providing strong leadership and coaching. Acting as a trusted advisor to supervisors and influencing seniors on the direction of travel of ORR.
• Leading and supporting the strategic approach to ORR with key stakeholders including UKDT Senior Leadership Team (SLT), ORR Project Delivery Group (PDG) and the ORR steering group (ORR EDSG).
• Managing and influencing multiple stakeholders in the PRA and the wider Bank including addressing senior committees on the work of the ORR Hub.

Role Requirements

Minimum (Essential) Criteria

• In-depth technical understanding of the operational Risk Management Framework (ORMF), the Principles for the Sound Management of Operational Risk; as well as the management and controls of specific operational risks including change, outsourcing (e.g. cloud), cyber / external fraud, etc.
• In-depth understanding of the operational risk, operational resilience and outsourcing PRA policies and the challenges faced by firms.
• Ability to communicate technical concepts clearly and concisely to both senior technical and non-technical audiences, both verbally and in writing.
• Strong stakeholder management skills. You should have the ability to influence and challenge while building and maintaining relationships with both internal and external stakeholders.
• Excellent judgement and analytical skills; strong written and oral communication skills, with an ability to understand complex data and filter salient information quickly.
• Excellent workload management skills, with the ability to work flexibly, adapt rapidly to competing priorities and work well under pressure.

Desirable Criteria

• Experience in managing people and leading a team. This includes the ability to build and implement a strategic vision and delivery of outcomes.
• Ability to lead and motivate other members of staff, including a willingness to mentor and develop others.
• A proven track record of working across boundaries effectively and engaging collaboratively with staff at all levels.
• A demonstrated commitment to diversity, equity and inclusion.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The closing date for applications 22 March 2023

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.

The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

We are fully committed to having a diverse and inclusive working environment, and are open to considering how the role might be carried out with flexible working. This role is therefore open to flexible working patterns.

Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. From 6 June 2022, we expect colleagues to spend a minimum of 40% of their working time in the office per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this. We are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.

The salary scale for this role is £79,800 - £101,250 full time, per annum. In addition we also offer a comprehensive benefits package as detailed below. We encourage flexible working & part time working , therefore both salary and associated benefits will be adjusted on a pro-rata basis for part-time colleagues

• 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. (Note: effective from April 2023)
• Private medical insurance and income protection.

Employment in this role will be subject to National Security Vetting clearance and the passing of additional Bank security checks in accordance with Bank policy from time to time. Further information of vetting and security clearance requirements for the role will be provided to the successful applicant. Further 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 closing date for applications is 22 March 2023.

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.