Manager, Risk & Assurance - Risk Response Team - Strategy, PRA Risk and Operations Directorate

DescriptionThe Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.PRA Strategy, Risk & Operations Directorate is central to the delivery of the PRA’s strategy by facilitating, challenging and assuring the PRA’s work, as a peer and partner. Our focus is on:Acting as a centre of operational excellence - partnering with the business and central functions of the Bank to ensure the PRA is equipped to deliver its objectives and evolving regulatory remit.Facilitating the measurement, aggregation and comparison of risks in a clear and coherent way, to enable the PRA to respond to changes in risk dynamically and to drive decisions on prioritisation, business planning and resourcing.Maintaining the integrity of the PRA's decision making framework and supervisory approach, including challenging and assuring the quality of supervisory practices and judgements.Supporting the delivery of the PRA's objectives through the publication of its internal and external communications.  The directorate is also responsible for maintaining the PRA’s overall strategy by overseeing the delivery of the PRA’s Strategic Review Workstreams. The Directorate is split into three divisions: PRA Chief Operating Officer’s Division (COO) COO includes: People and Operations team; PRA Communications and Policy Delivery team; Finance, Planning, Performance and Analysis team; and the Systems, Change and Banking Data team.COO has a broad range of responsibilities including, amongst other things, supporting the operations of the PRA’s directorates through the Divisional COOs, supporting the delivery of the PRA’s investment portfolio, business planning and budgeting, performance reporting and production of management information, and delivering the PRA’s publications. PRA Governance and Controls Division (G&C) G&C includes the Governance team and Supervisory Controls teams. The Governance team provides the secretariat function for a number of the PRA’s Committees such as the Supervision, Risk and Policy Committee (SRPC) and its subcommittees, the Practitioner Panel and its Insurance sub-committee, and the Bank’s Enforcement Decision Making Committee. It also deals with complaints made against the regulator. The Supervisory Controls team owns the PRA’s supervisory approach ensuring clear and consistent expectations and supports the supervisory directorates with management information to enable clear compliance, as well as being product owner of Risk and Work Manager, ensuring that it reflects the requirements of supervision.PRA Risk and Assurance Division (RAD) RAD includes: Supervisory Assurance team; Risk Framework team; and Risk Response team.The Supervisory Assurance team (formerly Supervision Oversight Function) reports on the quality and effectiveness of supervision through firm specific and thematic reviews with the aim to promote high quality, forward looking and judgement led supervision. The Risk Framework team assesses and reports on the PRA’s own operational risks and the sector risks that firms are managing with the aim to strengthen the linkage between our risk identification, setting the PRA’s policy and supervision priorities and resourcing decisions. Finally, the Risk Response team is a central resource deployed on crystallising risks and other organisational priorities.Department OverviewWe are excited to advertise for a proactive and forward-looking Manager, Risk & Assurance to join our friendly Risk Response Team (RRT) in the Risk & Assurance Division. RRT provides hands-on support to supervisors and other PRA colleagues to respond to risks and events affecting regulated firms (banks and insurers) or other at-risk PRA objectives and priorities. Whether urgent action is needed, or simply some extra resource, that means we get to work on an exciting range of topics!  For example, we've supported work on firms that are at risk of failure, systemic issues such as the impact events in Russia / Ukraine and recent periods of financial market volatility, and the finalisation and delivery of the Basel 3.1 proposals.We are not just about troubleshooting. A crucial part of our role is working alongside supervisors to build the PRA's capacity to manage urgent issues in the future.Job descriptionYou will provide high quality consultancy support to other functions in the PRA, including Supervision and Policy. You'll lead on each of your assignments, planning them, establishing what their outcomes should be, and making sure you deliver them. You'll support and guide less experienced team members. You'll also play an essential part in supporting RRT and the Risk & Assurance Division, planning RRT's work, building the team, and managing engagement and communications with stakeholders.Working across different teams and sectors (both banking and insurance) on a wide range of issues, you'll broaden your skills and experience, and become an expert on crisis management and risk mitigation.You'll improve your ability to build great relationships quickly, strengthen your network, and raise your profile with senior decision-makers. Empowerment is a key feature of this role - but you'll also have the support of a friendly and encouraging team.If variety, challenge, and the satisfaction of knowing you've made a difference when that was most needed are important to you, this could be your perfect role!Minimum CriteriaRelevant financial services experience, for example, not limited to working in:a PRA-regulated bank or insurer, or public sector organisationthe regulation of banks or insurersthe provision of advisory / consultancy services to banks / insurersExperience in at least one of: policy, capital, business-model analysis, risk management, governance, balance-sheet risk, recovery and resolution planning, in the context of banks and/or insurersEssential CriteriaAnalysis: Strong analytical skills and ability to learn new subject matter quicklyAdaptability: react quickly to issues, work autonomously and well under pressure and adapt to working in a variety of teams and circumstancesApplication: use accumulated knowledge, skills, and experience for good judgements in workCommunication and presentation: clear and confident communication skills – both in writing and verballyTeamwork: able to build good relationships quicklyRepresentation: able to represent the PRA credibly and professionally in meetingsInfluence: able to influence senior stakeholdersProactivity: able to proactively identify issues and risks and work with business areas to find effective solutionsYou should not be put off from applying if you do not meet or do not have all of these criteria. We have extensive support and training for team members, particularly new joiners, to support development. QualificationsOur Approach to InclusionThe 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.  You can find more information on what this means here. 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 InformationThis specific role offers a base salary of circa 62,700 - 79,470 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.In addition, we also offer a comprehensive benefits package as detailed below: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 yearA 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. Private medical insurance and income protection.National Security Vetting ProcessEmployment 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 at Privacy and the Bank of England | Bank of England.The Application ProcessImportant: 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 closing date for applications is 12 July 2023.The assessment will comprise of two separate interview stages. 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.#LI-BB1Job Field: SupervisionOrganization: 611000 - SUPERVISORY OVERSIGHT FUNCTION