At a Glance
- Tasks: Lead the PRA's approach to cyber underwriting and AI risk management.
- Company: Join the Bank of England, a key player in financial stability.
- Benefits: Competitive salary, flexible working, generous leave, and comprehensive benefits package.
- Other info: Dynamic role with opportunities for professional growth and collaboration.
- Why this job: Shape the future of insurance with cutting-edge technology and make a real impact.
- Qualifications: Strong understanding of cyber risks and experience in insurance or related fields.
The predicted salary is between 97920 - 110160 £ per year.
Senior Technical Specialist Cyber Underwriting, Cat Risk & Exposure Management, Data and General Insurance Risk Division (DGIRD) - Insurance Supervision
Location: Leeds or London
Up to 23 month FTC
The Insurance Supervision Directorate has responsibility for the supervision of over 500 UK insurance companies and branches of international insurers. We fulfil the PRA's primary objective of UK insurers safety and soundness and policyholder protection.
The Data and General Insurance Risk Division (DGIRD) brings together actuarial, risk specialist and data analytics expertise to support the PRA's supervision of the UK insurance sector. DGIRD combines technical expertise across catastrophe risk, exposure management, climate risk, cyber underwriting risk, capital, reserving, reinsurance and general insurance underwriting with growing data and analytics capabilities. Working closely with supervisors, policy colleagues and specialists from across the Bank, the division provides technical advice, delivers thematic reviews, supports firm-specific supervision, undertakes research and horizon-scanning activities, and contributes to major cross-industry initiatives. The division aims to operate as one integrated division, combining technical excellence, supervisory insight and data-driven analysis to support the PRA’s objectives and financial stability.
This is an exciting opportunity to help shape the PRA’s approach to cyber underwriting and AI risk, as part of a two-year contracting role as a Senior Technical Specialist. The role's primary focus will be cyber underwriting risk and AI-related insurance risk, including how firms identify, quantify, manage and aggregate exposures arising from cyber incidents and AI-related losses, and how these risks interact with broader prudential risks. The role will also support work on catastrophe risk and exposure management.
Working across supervision, policy and other specialist teams, the successful candidate will provide technical leadership and judgement on complex issues, support firm-specific supervision and cross-market thematic work, contribute to horizon scanning and emerging risk identification, and help develop the PRA’s approach in these areas. The role will also support the operation and development of relevant cross-Bank technical networks, helping to coordinate specialist input, develop capability and deliver outputs that are useful for supervisors and senior stakeholders.
Key Responsibilities
- Lead and develop the PRA's technical approach to cyber underwriting and AI-related insurance risk, including exposure management and underwriting, as well as collaborating with other technical specialists on areas such as pricing, capital and reinsurance.
- Provide expert technical input to supervision of firms’ cyber underwriting, AI-related insurance risk and exposure management, including reviews of regulatory reporting data, risk frameworks, exposure data, aggregation controls and management information.
- Contribute to horizon scanning, thematic work and views of risk, including emerging cyber and AI-related insurance risks, the development of affirmative and non-affirmative AI coverage, and the potential impact of technological developments on insurance underwriting, exposure management and business models.
- Support work on natural and non-natural catastrophe risk and exposure management, drawing links between cyber, catastrophe and broader aggregation risk where relevant.
- Contribute to the Catastrophe Risk & Exposure Management and Cyber cross-Bank Networks, helping set priorities, coordinate technical work, support delivery of outputs and build capability across supervision.
- Support supervisors and senior stakeholders in understanding prudential risks arising from cyber underwriting, catastrophe risk, exposure management, AI and other emerging developments in insurance.
- Present technical analysis and challenge at relevant internal committees, including the Insurance Risk Committee where appropriate.
- Represent the PRA in engagement with firms, industry bodies, academia, regulators and other external stakeholders.
- Work with colleagues to identify opportunities to use data, analytics and emerging technologies to support technical assessment and supervisory insight.
- Share knowledge and support the development of colleagues through technical leadership and training, peer review and practical guidance.
Role Requirements:
Minimum Criteria
- Strong technical understanding of cyber underwriting risk, including cyber risk selection, pricing, exposure management, accumulation risk and risk governance.
- Demonstrable expertise in emerging technology risks, including the potential impact of AI on insurance underwriting, risk management, operations or business models.
- Ability to analyse complex technical information, exercise sound judgement and draw out prudential implications for firms and the wider market.
- Experience leading or contributing to complex technical work, including coordinating input from others, managing priorities and delivering high-quality outputs.
- Ability to build credibility and influence across stakeholders, including supervisors, specialists and senior colleagues.
Essential Criteria
- Experience assessing, managing or advising on complex insurance risks, ideally including cyber, AI, natural catastrophe risk, non-natural catastrophe risk and/or exposure management.
- Strong prioritisation, problem-solving and delivery skills.
- Ability to communicate complex technical matters clearly to both technical and non-technical audiences.
- Ability to support and influence others without formal line-management responsibility.
Desirable Criteria
- Experience of cyber underwriting, cyber accumulation modelling, cyber exposure management or cyber risk quantification in an insurance or reinsurance context.
- Knowledge of emerging AI-related insurance risks, including affirmative and non-affirmative AI coverage, accumulation risk and evolving market practices.
- Experience of catastrophe modelling, natural catastrophe risk, non-natural catastrophe risk or exposure management.
- Experience using data and analytics to support technical assessment, underwriting, exposure management or strategic decision-making.
- Knowledge of the PRA supervisory framework or experience working with regulators, supervisors or public-sector bodies.
- Experience leading a technical network, community of practice, workstream or similar cross-functional activity.
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. 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.
The salary ranges on offer are:
- Leeds: £97,920 - £110,160
- London: £108,800 - £122,400
In addition, we also offer a comprehensive benefits package as detailed below:
- Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- A discretionary performance award based on a current award pool.
- An 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.
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.
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
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 assessment process will comprise of two interview stages.
This role closes on 4th August 2026. Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
Cyber Underwriting & AI Risk Senior Technical Specialist (23 month FTC) in Leeds employer: Bank of England
As an employer, the Bank offers a dynamic and inclusive work environment in Belfast, Northern Ireland, where employees are encouraged to engage with local businesses and contribute to impactful policy discussions. With competitive salaries, a robust pension scheme, and generous leave options, the Bank prioritises employee well-being and professional growth, making it an excellent choice for those seeking meaningful careers in public service. The commitment to diversity and inclusion further enhances the workplace culture, ensuring that all voices are heard and valued.
StudySmarter Expert Advice🤫
We think this is how you could land Cyber Underwriting & AI Risk Senior Technical Specialist (23 month FTC) in Leeds
✨Tap into Local Agencies
For temporary roles like the one at Bank of England, don't overlook local recruitment agencies that specialise in the insurance sector. They often have inside info on your local market and can help you get your foot in the door quicker!
✨Seasonal Opportunities Are Gold
Insurance companies often ramp up staffing for specific seasons, especially during peak times like annual policy renewals. Keep an eye out for those temporary gigs and be ready to jump in. Make sure you’re on our website regularly to catch those listings!
✨Network with Industry Pros
Join insurance-focused online platforms and forums to connect with professionals who can share insider tips about temporary roles. Attend local industry meetups or workshops to widen your network; sometimes it’s all about who you know!
✨Showcase Your Flexibility
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We think you need these skills to ace Cyber Underwriting & AI Risk Senior Technical Specialist (23 month FTC) in Leeds
Some tips for your application 🫡
Highlight Relevant Certifications:In the insurance world, having the right qualifications can set you apart. If you've got any certifications like Cert CII or other relevant credentials, make sure they're front and centre on your CV. It shows you're committed to the industry and ready to hit the ground running!
Showcase Your Customer Service Skills:Insurance is all about helping clients through tricky times. Use your application to mention your previous customer service experience or soft skills like problem-solving and empathy. These are crucial for any temporary role in the insurance sector, so don’t shy away from flexing these muscles!
Tailor Your CV for the Temp Role:For a temporary position, it's all about demonstrating your ability to adapt quickly. Tailor your CV to highlight experiences that show you can jump in and make an impact immediately. Mention short projects, freelance gigs, or any fast-paced roles that show you thrive in dynamic environments.
Be Clear About Availability:In your cover letter, clearly state your availability for the temporary role. Since this is a short-term gig, emphasising your flexibility and readiness to start immediately can really catch Bank of England's eye. Remember, they need someone who can fit right in, so make it easy for them to see you as that person!
How to prepare for a job interview at Bank of England
✨Master the Basics of Underwriting
Since you're aiming for a temporary role in insurance, brush up on the basic principles of underwriting. Be ready to discuss how you would assess risks and make simple decisions on policy issuance, as these are likely to come up in technical questions.
✨Familiarise Yourself with Relevant Regulations
Insurance is heavily regulated, so it helps to be familiar with key regulations that affect the industry. Bring up any specific legislation you're aware of and how it could impact your work at Bank of England. This shows you're engaged and knowledgeable.
✨Highlight Your Flexibility
As it's a temporary position, it's crucial to stress your adaptability. Talk about previous experiences where you had to pick up new tasks quickly or adjust to changing needs. Employers will appreciate your willingness to jump in and get the job done without a long onboarding process.
✨Prepare to Discuss Claims Processing
Be ready to dive into discussions around claims processing, as this might be a big part of your role. Bring along examples of how you've approached problem-solving in past roles, especially if you've dealt with customer claims or insurance queries before. It's a great way to show your relevant experience.
