Head of Division - Operational Resilience and Risk Division, Supervisory Risk Specialists (SRS), PRA

Contract Type
Banking & Finance, Public Sector, Risk
£90,000 - £130,000
Expiry Date
The Head of Operational Resilience Risk Division (ORRD) will lead the PRA’s work on operation resilience and risk.

Job Description

Head of Division - Operational Resilience and Risk Division, Supervisory Risk Specialists (SRS), PRA
£90,000 - £130,000
Ref: 005664

The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

As a directorate of the PRA, the Supervisory Risk Specialists (SRS) provides deep technical expertise and applies judgement in specific risk disciplines as part of the PRA's integrated supervisory approach, in order to identify, analyse and mitigate material risks to the safety and soundness of PRA regulated firms. These material risks can arise within and across firms and from the market environment.

Department Overview

Operational resilience is a strategic priority for the Bank.  The PRA has a strategic goal of embedding operational resilience in regulated firms, to minimise disruption to economic functions causing material risk to financial stability.  To achieve this goal, an ambitious programme of work has been developed to ensure that micro (supervisor-led) and macro-prudential (sector-focused) activity is appropriately targeted to ensure that the operational resilience of the UK financial sector is brought within defined tolerances.  The Bank is also a thought leader in international work focused on operational resilience including, and with a particular focus on, cyber risk.

Job description

The Head of Operational Resilience Risk Division (ORRD) will lead the PRA’s work on operation resilience and risk. This includes: 

  • Working closely with other parts of the Bank, the FCA, the NCSC and HM Treasury to achieve the strategic objective on operational resilience;
  • Implementing an effective supervisory programme for operational resilience delivering the policy the PRA has set out; 
  • Enhancing the financial sector’s resilience through exercising and developing the UK financial sector authorities approach to building resilience in the sector through the Cross market Operational Resilience Group (CMORG);
  • Ensuring the Authorities Response Framework (which the UK financial sector authorities use to manage major operational incidents affecting the sector) operates effectively and maintains and enhances it capability to co-ordinate responses to future operational incidents;
  • Delivery of operational risk assessments for PRA firms which identifies their key operational risks and incentivises improved op risk management, and appropriately capitalises the sector for operational risks. 

Number of direct reports: Up to 5 direct reports with a team of up to 45 in total in the division

Role Requirements

Minimum Criteria

  • Leadership skills – strong leadership skills with a track record of leading large teams, including the ability to create and implement a shared vision and delivery of outcomes.
  • Analytical skills - a track record of risk identification and practical, policy-relevant insights that would demonstrate clear judgement and effective problem solving. 

Essential Criteria

  • Communication skills - ability to produce clear and concise written and verbal communication tailored to the circumstances.
  • Influencing skills – ability to engage and influence senior stakeholders within the Bank and externally at a senior level with firms and/or other central banks/regulators.  
  • Ability to build and develop a diverse team, in terms of life experience and approach.
  • Ability to lead in a manner which is human, humble and in step with the changing world, fostering a kind, inclusive and curious environment for discussion.
  • Able to demonstrate flexibility in resourcing; a track record of proactive, proportionate and effective prioritisation.
  • Bank-wide awareness – the capacity to understand the Bank’s position on the broader policy and regulatory A track record of delivering change, collaborating with other divisions and making connections between work-streams across the Bank or in creating a better place to work. 

Desirable Criteria

  • Familiarity with prudential regulation and an understanding of the PRA’s supervisory model and approach to operational resilience.
  • Familiarity with the UK official sector’s arrangements to provide leadership to the financial services industry in the event of major operational disruption. 

To apply please visit https://bankofengland.taleo.net/careersection/boe_ex_experienced_hire/jobdetail.ftl?job=005664&tz=GMT%2B01%3A00&tzname=Europe%2FLondon

Closing date: 3 November 2021