Quantitative Risk Manager in FINANCIAL RISK & RESILIENCE

The Bank operates a three lines of defence model for the management of risk. The second line resides within the Risk Directorate, led by ED Risk who reports to the Governor. The Vision of the Bank's Risk Directorate is "to enable the Bank to take risk confidently by making sure it is managed within appetite". The Directorate supports risk taking required in business areas to deliver the Bank's mission and shares accountability for risk judgements. We support the Bank's first line in assessing, in a pragmatic way, the risks involved in delivering desired outcomes, optimising material controls, and embedding a culture of confident, informed risk‑taking. Our work is grounded in a deep understanding of the Bank's objectives and a commitment to enabling confident, well‑informed decision‑making.

Division Overview: The Financial Risk lay out scope and terms of reference for such interventions.

Reporting Line: You will report to the Senior Manager, Risk Methodology Team.

Role Requirements:

• Demonstrable communication skills: both written and oral, that cut through complexity, convey technical information for a non‑technical audience and explain trade‑offs involving the Bank's policy or organisational priorities.
• MSc level knowledge of financial mathematics, including stochastic calculus, statistics, and econometrics.
• Proficient in Python.
• Solid understanding of asset pricing theory and the ability to derive pricing and sensitivity calculations for a range of asset classes, in particular interest rates and credit products.
• Ability to lead in a manner which is human, humble and in step with the changing world, fostering an open, inclusive and curious environment.
• Strong stakeholder influencing skills: track record of influencing decisions and delivering impactful outcomes for the organisation, navigating complex trade‑offs inherent in the nature of the Bank's work.
• Good interpersonal skills, and the ability to develop good working relationships with a wide range of stakeholders.
• Good writing and oral presentation skills.
• Collegiate approach to teamwork, focusing on collective objectives and deliverables.
• Ability to challenge colleagues in an objective but constructive and collegiate manner.
• Understanding of and interest in the Bank of England's balance sheet, policy purposes, and operations, including the ability to understand and articulate the policy/risk trade‑offs inherent in the management of a central bank's balance sheet.
• Proficient in C++, R, Matlab.
• Experience in modelling mortgage‑backed securities.
• Experience of setting a strategy, leading those who manage others, and tangibly improving diversity and inclusive culture.

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.

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. This role offers a base salary as follows: 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.
• 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.

Immigration Information: 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 stages. This role closes for applications on Monday 20 April 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.