Director – Supervisory Risk Specialists (SRS), PRA

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

 

Supervisory Risk Specialists (SRS) is a directorate of c200 highly experienced risk professionals, who provide technical expertise and apply judgment across risk disciplines to identify, analyse and mitigate risks to financial stability and the safety and soundness of PRA-regulated firms, in support of the PRA and Bank’s strategic goals, in the areas of Financial and Operational Resilience.

 

Job description

 

The role holder reports to the Executive Director, SRS, and together the Director and the ED support the decision-making of the Prudential Regulation Committee (PRC), the Financial Policy Committee (FPC) and Governors. They lead the directorate’s provision of technical expertise and judgement to PRA Supervision; of impact and risk analysis to FPC; and advice on and implementation of other PRA and Bank committees’ recommendations and decisions.

The Director role can be focussed either on financial resilience or on operational resilience; on the latter SRS is leading the PRA’s work implementing the new operational resilience framework, and engages extensively with FCA, HMT, NCSC and the sector on all aspects of operational resilience including cyber risk and information security. In addition the Directorate is engaged extensively with international work in the FSB, BCBS and the G7 on operational resilience including cyber risks.

On financial resilience SRS delivers the analysis of the FPC’s stress tests, analyses the banking sector’s key portfolios, risk profile, capital and liquidity management, risk management and controls, and in partnership with the PRA banking supervision directorates identifies and mitigates the key risks in the sector. SRS is one of the areas of the PRA with a strong focus on data and analytics and developing this as part of the PRA’s strategic review is a key focus for the directorate.

 

Number of direct reports: 4

 

Role Requirements

 

Minimum Criteria

  • Demonstrable technical expertise in risk management and/or the delivery of effective prudential supervision, focussed either on financial resilience or operational resilience.
  • Strong leadership skills with a track record of leading teams; delivering complex, intellectually demanding projects; and building strategic direction.

 

Essential Criteria

  • Demonstrable commitment to inclusive leadership and building diverse teams
  • Ability to analyse effectively regulatory issues, delivering recommendations that are actionable and can be implemented.
  • Problem-solving skills, in particular the ability to combine technical knowledge with an understanding of the policy framework and organisational strategic objectives in pursuit of new solutions.
  • Excellent presentation skills, significant personal impact and credibility along with experience of international negotiations in order to direct staff and be influential with key external stakeholders.
  • Strong ambassador for the Bank internally and externally, both as a risk management expert and showing exceptional leadership qualities in line with the Bank’s objectives and values.
  • Personal attributes of high intellect and sound judgement.
  • Strongly collaborative, flexible, and proactive, given SRS works in partnership with other directorates through sponsored technical work, pooled projects, communities of interests and informal networks.

 

Desirable Criteria

  • Strong knowledge base and network in government and the private sector, enabling the individual to both stay current with the changing environment but also to have a grasp of what regulatory action might be required.
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