At a Glance
- Tasks: Lead technology and third-party risk assessments, ensuring resilience in financial services.
- Company: Join the Bank of England's Operational Risk & Resilience Division.
- Benefits: Competitive salary, professional development, and a chance to influence financial stability.
- Other info: Be part of a diverse team driving innovation in financial regulation.
- Why this job: Shape the future of operational resilience and technology in a dynamic environment.
- Qualifications: Experience in technology risks, assurance, and strong communication skills required.
The predicted salary is between 69750 - 85250 £ per year.
Change and Outsourcing team, Operational Risk & Resilience Division, Supervisory Risk Specialists Directorate, Prudential Regulation Authority, Bank of England
As a directorate of the PRA, the Supervisory Risk Specialists (SRS) provides technical expertise and applies judgement in specific risk fields in order to identify, analyse and mitigate risks to the safety and soundness of regulated firms as well as financial stability objectives.
SRS also supports the wider Bank through providing risk specialist expertise to a range of functions including policy development and implementation, the Bank's concurrent stress tests, Concurrent Operational Resilience Stress Testing, central counterparty and payments oversight.
SRS comprises five divisions
- Operational Risk & Resilience (ORRD)
- Sector Resilience Division (SRD)
- Credit, Risk, Analytics, Liquidity and Capital (CRACL)
- Investment Banking and Sector Risks (IBSR)
- Model Development and Review (MDRD)
- Department Overview
The Operational Risk and Resilience Division (ORRD), part of the SRS Directorate, plays a pivotal role in shaping the PRA's supervisory approach to operational risk and resilience.
This is a unique opportunity to contribute to the evolution of ORR policy and practice, influencing both regulatory and financial stability agendas.
The work spans system-wide issues and engages with central banks, regulators, and government agencies at both domestic and international levels, giving you an opportunity to develop strategic developments in operational risk and resilience.
Team Overview
The Change and Outsourcing team provides specialist assurance over regulated firm's use of technology and third-party arrangements.
We assess whether firms are designing and operating resilient technology services that support financial stability outcomes.
Our work focuses on technology transformations, cloud adoption, third party including critical third parties, operational resilience and cyber resilience.
We deliver technical insight, cross-firm intelligence and targeted reviews to support supervision of systemic firms.
The role holder will be a technology assurance professional with expertise in assessing technology, resilience and third-party risks, including cloud migrations, recovery capabilities like bare metal rebuild & data vaulting, business continuity, and large-scale transformation programmes.
They can lead complex risk reviews, provide challenge to firms, and deliver risk-based insights to senior audiences on emerging technology and operational resilience risks.
They will have good communication and social skills, to represent the Bank and the PRA credibly with senior counterparts in regulated firms.
Job Description
An opportunity has arisen for a Manager in the Change and Outsourcing team. Key responsibilities:
- Acts as a recognised technical authority on Technology and Third Party risks, shaping how complex and emerging risks (including technology, cloud, cyber, infrastructure, and AI) are assessed across firms and at sector level.
- Leads firm and cross-firm assurance reviews of technology transformation and Third Party initiatives including how are those resilient and secure to mitigate severe scenarios (e. g. cyber disruptions).
- Designs and continuously enhances technical risk reviews to bring together evolving sector risks and leads multi-functional alignment on technology and third party.
- Exercises independent, high impact judgement on complex and uncertain issues affecting firms' technology and third party within the wider operational resilience agenda.
- Engage directly with CROs, CIOs, CTOs and other senior leaders during reviews.
- Provide technical challenge and specialist support to supervisory teams and senior PRA decision-makers including identification of systemic risks and emerging vulnerabilities across the financial sector.
- Shapes supervisory thinking, contributing to Policy development and influences senior committees through thought leadership, cross‑firm comparison, and interpretation of evolving practices in Technology and Third Party.
- Represents the function in cross‑Bank and industry fora, advocating best practice in operational risk and resilience.
- Location
- LEEDS BASED
- Role Requirements
- Significant technical work experience in technology and third-party risks or assurance and/or Business Continuity Planning and technical recovery solutions for severe disruptive scenarios (such as bare metal rebuilds, data vaults, etc).
- Understanding of related Bank policy such as SS2/21 - Outsourcing and third party risk management and SS1/21 Operational resilience: Impact tolerances for important business services.
- Extensive knowledge of Technology risk (identification, protection, response and recovery).
- Ability to represent the Bank and PRA credibly and professionally in both internal and external meetings.
- A solid grasp of the implications underpinning the broader Operational Resilience and cyber agenda, the importance and complementarities of technology and third party.
- Good interpersonal skills and the ability to work flexibly as part of a team and collaboratively with wider Bank colleagues.
- Strong written and oral communications, including to senior audiences, with an ability to explain complicated material in easy-to-understand ways.
- Experience to design and refine risk assurance reviews to reflect evolving sector risks.
- Solid experience in applying sound judgement to complex and uncertain issues, enabling effective identification, assessment and management of emerging risks.
- Demonstrable track record of leading and delivering substantial pieces of work, including managing others working on it, ensuring progress against plan, and keeping key partners informed.
- A good understanding of the important business services provided by systemically important financial institutions or financial market infrastructure.
- Experience in cloud implementations and risk management including cyber scenarios
- A track record of supporting diversity and inclusion initiatives and encouraging others to do the same.
What will I get from the role?
- An opportunity to strategically influence a highly complex and fast evolving agenda on technology, AI, third party and wider operational resilience
- #J-18808-Ljbffr
Manager, Specialist Operational Risk in Technology and Third Party Risk 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 Manager, Specialist Operational Risk in Technology and Third Party Risk in Leeds
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
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Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
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Don’t shy away from reaching out directly to firms like Bank of England. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Manager, Specialist Operational Risk in Technology and Third Party Risk in Leeds
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Bank of England.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Bank of England's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Bank of England
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Bank of England.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Bank of England will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Bank of England employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
