Senior Operational Risk Analyst in MBR(P) Compliance in London

Join to apply for the Senior Operational Risk Analyst in MBR(P) Compliance role at Bank of England. This range is provided by Bank of England. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Location: London, Threadneedle Street

The MBPR Deputy Governorship:

The Bank of England's mission is to deliver monetary and financial stability for the British people. To deliver this mission, MBPR carries out diverse operations including: managing the Bank's sterling and foreign currency balance sheets; managing national foreign currency reserves for HM Treasury; gathering market intelligence; offering banking services to HM Government and other central banks; operating Real Time Gross Settlement systems, and acting as the UK's resolution authority. This role also supports the other Important Business Services performed across the Bank.

About the team:

Reporting to the Bank's Money Laundering Reporting Officer (MLRO), the MBPR Compliance Team has two core functions:

• Support the MLRO in their role as the Bank‐wide Fraud and Insider Risk Custodian - through forward‐looking assessment and oversight of fraud/insider risks and controls;
• Management of conduct risk across MBPR.

Detailed Role Description:

Reporting to the Compliance Manager, you will be the team's lead analyst for Fraud & Insider risk management. You will provide technical expertise and collaborate with risk/control owners, business teams and risk specialists across the Bank to lead delivery of fraud and insider risk oversight.

Key responsibilities include:

• Critical Metrics & Management Information: You will design, maintain, monitor and report on the critical metrics that set Bank‐wide risk tolerance for fraud/insider risk. You will also co‐ordinate the provision of management information needed to manage risks within appetite.
• Framework creation and maintenance: You will collaborate with risk and control owners to design and implement a Bank‐wide fraud & insider risk management framework that defines: roles and responsibilities; risk and control assessment and management approaches; and key requirements for all staff, benchmarking against best‐practice frameworks and guidance.
• Risk assessment: You will refresh the current approach for assessing fraud and insider risk across the Bank's Important Business Services and supporting functions. You will then keep assessments current through horizon scanning, leading engagement with Legal on regulatory change impact assessments and ensuring clear stakeholder communication.
• Partnership building & continuous improvement: You will partner with material control owners across the Bank to strengthen preventative and detective controls; provide advice; disseminate and track lessons learned from investigations; and coordinate thematic risk reviews and control deep‐dives (benchmarking controls against legal, regulatory and industry best practice).
• Training, awareness & security culture: You will support the review and enhancement of training and awareness materials and the Bank's security culture.
• Governance & fora: You will support the Fraud & Insider Risk Working Group and attend other Bank‐wide fora as appropriate.
• Project management: You will lead elements of the agreed programme of improvements for fraud and insider risk management.

You will also have the opportunity to support broader conduct risk management (including fraud & insider risk) across Markets, Banking & Resolution and Payments - providing expert advice, training, monitoring support and delivering conduct training sessions. For clarity, the MBPR Compliance Team's remit excludes anti-money laundering, counter terrorist and proliferation financing and financial sanctions compliance risk management. This responsibility resides with the Financial Crime Team that also reports directly into the MLRO.

Role Requirements:

• Demonstratable experience applying risk management and governance principles in a regulated or financial environment.
• Proven technical expertise in managing both internal and external fraud risk, as well as insider risk.
• Working knowledge of core financial crime areas such as market abuse, bribery & corruption, and data protection, able to explain how you have applied this knowledge in practice.
• Understanding of central bank or financial‐sector risk exposures demonstrated through prior work, assessments or analysis.
• Proven skills in analysis and problem solving.
• Ability to clearly communicate complex information (written and verbal).
• Demonstrated ability to build strong relationships, including the capacity to constructively challenge senior stakeholders.
• Ability to independently and flexibly manage a diverse workload and adapt effectively to shifting priorities.
• Demonstrates dedication and readiness to adhere to organisational policies, codes of conduct, and necessary attestations.

Desirable knowledge and skills:

• Demonstrated understanding of financial markets, products and institutions, evidenced through applied work or analysis, including experience assessing conduct risk in fixed‐income or foreign‐exchange trading environments.
• Proven ability to apply project management processes, such as planning tasks, tracking milestones, and monitoring delivery against timelines.
• Proficiency in analytical tools, demonstrated through practical use of R Studio, Tableau and MS Excel to analyse data, produce reports or develop dashboards.

What you will get from the role:

• First‐hand exposure to the Bank's policy operations and mission.
• A broad network across MBPR and the wider Bank, including regular interaction with senior management, plus the opportunity for involvement in wider operational risk and financial crime risk initiatives.
• A varied, intellectually stimulating environment with career development opportunities.
• Support to study for professional qualifications in financial crime, compliance or risk management.

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:

Location: London, Threadneedle Street. This specific role offers a base salary of circa £55,920 - £62,910 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.

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.

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 for applications on 1 February 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.