Manager, Financial Risk in FMID

at  Bank of England

DIRECTORATE OVERVIEW

In the Financial Market Infrastructure Directorate (FMID) you will join a directorate at the heart of the Bank, responsible for supervision, policy and technical risk analysis on the infrastructure that sits at the core of the financial system – payment systems, central counterparties (CCPs) and central securities depositories (CSDs). The financial market infrastructure firms (FMIs) that we regulate are essential to the smooth and safe operation of the UK financial system. They provide services, like payments, that people use every day. They enable financial market participants to manage their risks. As a global financial centre, the smooth and safe operation of UK FMIs is also vital for international markets.
We offer an outstanding and exciting place to work in a highly collaborative directorate, undertaking work with strong links into numerous other parts of the Bank and international regulators. For more information on the work we do, see our latest annual report available here: The Bank of England’s supervision of financial market infrastructures - Annual Report 2023 | Bank of England
FMID is unusual within the Bank in that it brings together supervisors, policy analysts and risk specialists in one place. This means there are plenty of opportunities for cross-cutting working and the opportunity to gain insight into how different areas work. Working in FMID is a phenomenal way to understand the linkages of the financial system.
FMID is passionate about delivering the Bank’s diversity agenda, retaining and attracting diverse talent and ensuring that the directorate is somewhere that all staff feel they belong. Flexible working is encouraged.

JOB DESCRIPTION

The FMI Analytics Division plays a central role in FMID by applying technical knowledge, market expertise and judgment to identify, assess and mitigate risks to financial stability. Within the Financial Risk and Resilience team, this may include leading the supervisory stress test of UK CCPs, providing oversight and expert challenge on CCPs’ modelling of financial risk and resources, and delivering high-quality analysis to support key policy questions.
We are recruiting for a Scale E role in the Financial Risk and Resilience team. This is an exciting role for an enthusiastic individual with strong analytical skills and keen interest in developing their knowledge, and with strong stakeholder management and excellent written and oral communication skills.

As a Manager in the Financial Risk and Resilience Division you will:

• Manage an exciting portfolio of work, in particular delivery of the Stress Test of UK CCPs, including engagement with seniors within the Bank and the FMIC Committee, the firms we supervise and our international counterparts such as ESMA and CFTC. You may also get involved in risk reviews.
• Depending on your interests and background, you may also get involved in developing our stress testing methodology, for example leading on desktop stress testing and increased automation of our processes.

• Have opportunities to collaborate with other areas of the Bank such as FSSR and Markets on high priority policy topics, for example work on the resilience of sterling markets and analysis of system-wide risks.Play a role in the wider delivery and development of the Financial Risk and Resilience team by sharing information effectively, encouraging and supporting challenge and discussion, and through providing coaching and support to junior members of staff. Depending on the skills and interest of the successful applicant, this role also has the opportunity to be a people manager role, with responsibility for 2-3 direct reports.