Policy Analyst, Systemic Risk Management Transformation Team

Bank of England
11 Apr 2018
18 Apr 2018
Contract Type
Full Time

Banking, Payments & Financial Resilience Directorate translates monetary and financial stability policy decisions into real actions that deliver tangible outcomes, and our policy functions feed our practical experience and understanding of how markets and the financial system operate into the Bank's policy making. The variety and immediacy of the work we do means we are one of the most outward facing and fast moving areas of the Bank, operating the UK's high value payments system (the Real Time Gross Settlement System) and acting as the 'bank' within the Bank of England.

Department Overview

Payments are essential to the UK's economy. Most payments are made through payments systems. As well as operating the UK's Real Time Gross Settlement (RTGS) infrastructure, we now operate its High Value Payments System (HVPS), which is called CHAPS.

CHAPS is critical to the financial and monetary stability of the UK. It settles payments with an average value of GBP330 billion per day in central bank money. As a result, the Bank has committed to provide strengthened end-to-end risk management of CHAPS in its blueprint for a new RTGS service for the UK.

The Bank needs to be able to assess and manage the full range of risks arising at all points in the system - in the central infrastructure, in direct and indirect users, and in the pipes that join them together, if the increasingly complex and sophisticated risks to the stability of payments systems are to be managed.

While individual Financial Market Infrastructures (FMIs) can showcase best practice examples of where they act as systemic risk managers, we have the opportunity to display thought-leadership in the development of the first integrated and comprehensive risk management framework of its kind.

Job description

Reporting to the Adviser on the Systemic Risk Management Transformation Team, this Policy Analyst role gives a rare opportunity to play an integral role in the development of this new framework. You will:
  • Work across dedicated risk workstreams to coordinate their output and assessment of the risks associated with processes and entities needed to deliver CHAPS' services.

  • Help to identify interconnections and interdependencies between different risks, and between their related controls.

  • Assist in the drafting the policies setting out the framework for the management of these risks and how this framework is governed.

  • Support the development of the detailed processes needed to contribute to a fully-fledged Target Operating Model for the implementation of the framework.

What will you get from the role?
  • Be part of creating the first systemic risk management framework.

  • A great opportunity to develop skills and experience on interesting and intellectually challenging work as part of a high-performing team.

  • A chance to collaborate with teams across the Bank on a high-profile commitment.

Role Requirements

  • Previous experience of creative problem solving
  • Previous policy making experience is desirable
  • Previous risk experience is desirable
  • Previous experience of analysing large sets of information sources, and to communicate complex issues simply and confidently both in person and in writing to different audiences.
  • A self-starter who is comfortable working with the unknown and who can learn quickly.
  • Good organisational skills with the ability to prioritise, and handle multiple demands.
  • Good team-working skills, complemented by the ability to build and maintain good stakeholder relationships across the Bank.
We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.

We anonymise applications so hiring managers will not be able to see your personal information such as name and address when reviewing your submission. Please complete the application form questions as requested because incomplete submissions may not be reviewed.

The closing date for applications is 25th April 2018

Please apply online, ensuring that you answer the application questions and submit your CV.

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