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Copyright © 2025
Copyright © 2025
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Location: Leeds only
Division Overview
Payment Operations Division is responsible for running the RTGS and CHAPS services and is at the heart of our 'Resilient and Responsive' strategic goal. We benefit from teams focused on day-to-day operations and managing the wider range of participants we service. We operate a continuous improvement model and have a close working relationship with embedded and matrixed Technology teams to help ensure we maintain the highest standard of service provision for RTGS. The division also contains a Change & Planning Office responsible for coordinating changes to our live systems and our dedicated local risk management, operational resilience and comms/engagement functions, reflecting the criticality and scale of the services we provide.
Department Overview
The Payments Risk team is our embedded first-line risk team, responsible for ensuring that the RTGS and CHAPS services are run in line with the Board-approved risk tolerance statements. We do this by implementing our risk management framework and risk policies, ultimately collating risks into a risk register, as well as embedding risk culture for how we develop and deliver our RTGS and CHAPS services.
We are recruiting for an Operational Risk Analyst to support analytical risk activity related to our third-party risk and assurance activities.
Job Description
1. Contribute to critical 3rd party assessment and assurance activities and lead on assessment and assurance for remaining tiers.
2. Contribute to 3rd party risk management by leading the collation and producing of reporting packs for seniors as required.
3. Working towards the ability to work individually to prioritise own workload.
4. Engage with stakeholders in all 3 lines of defence to promote a shared understanding of assurance activities and outcomes.
5. Help develop and embed risk 3rd party risk management framework, strategy, policies and procedures.
6. Help planning, executing and improving key external audit activities (ISAE3402 and ISO27001) owning and leading on at least one of these audits.
7. Support initiatives to enhance the effectiveness of the RTGS/CHAPS third-party risk management processes and controls.
Minimum criteria
1. A clear understanding of 3rd party and outsourcing risks and how they can be managed with minimum one year's experience in TPRM within a government department, a Financial Market Infrastructure, bank, insurance or technology company.
2. An understanding of industry standard control frameworks and auditing standards (e.g. ISAE 3402, ISAE 3000, ISO27001, ISO27002, Cyber Essentials plus) and a track record of contributing to successful assurance analysis.
3. Proven exceptional communication and presentation skills, with an ability to convey complex risk information in a clear, concise manner even when working with ambiguous situations.
4. Proven strong organisational skills and attention to detail, with the ability to manage challenging timelines through effective prioritisation.
5. Working towards an ability to independently influence stakeholders towards good risk management outcomes.
6. An encouraging team player who is able to work semi-autonomously, challenge constructively and handle a range of parallel activities who understands the Banks 'Bank behaviours' and culture.
Essential criteria - candidates with the following experience will have an added advantage
1. Professional risk management qualification.
2. Experience leveraging and managing data to support risk assessment and reporting.
3. Familiarity with technology and cyber risks and related control frameworks.
4. Previous experience of supervision or regulatory oversight.
5. Familiarity with banking regulations and standards, particularly those related operational risk and resilience.
Desired criteria - we value candidates who have achieved the following:
1. Third-party risk CPD credits.
2. Proven experience of workflow tools (Jira, confluence etc)
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
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 starting salary of:
Leeds from £36,000 - £40,500
In addition, we also offer a comprehensive benefits package as detailed below:
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.
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 interview stages.
This role closes on Tuesday 30th September 2025.
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.