Senior Analyst, Financial Risk - Traded Markets Team

at  Bank of England

MINIMUM CRITERIA

• Excellent analytical skills, blending quantitative and qualitative information to evidence a considered view.
• A track record of delivering high quality analysis, with experience of presenting to senior decision-making bodies.

THIS ROLE IS OPEN FOR BOTH LONDON AND LEEDS OFFICES, DEPENDING ON INDIVIDUAL PREFERENCES.

Do you want to work at the heart of the Bank’s Markets function? Are you looking for a challenging and high-profile role that offers a unique blend of financial risk management and investment strategy? Keen to see first hand how the Bank uses its official operations to achieve monetary and financial stability?
An opportunity has arisen to join the Traded Markets Team within the Bank’s Financial Risk Management Division (FRMD).

FRMD is responsible for:

• The first-line financial risk management for the Bank of England’s balance sheets, Sterling Monetary Framework (SMF) and FX reserves.
• Advising HM Treasury on the investment strategy and risk management for the UK’s foreign exchange reserves, the Exchange Equalisation Account (EEA).
• Providing input to policy design, supporting the Bank in its monetary policy and financial stability objectives.

The Division is split into the Credit, Collateral Risk Management Team (CCRT), Traded Markets Team (TMT), Quantitative Risk and Analytics (QRA), and Climate Risk teams.
TMT is split into the Market and Liquidity Risk Team (MLRT) with ~10 staff, the EEA Financial Reporting team with ~3 staff, and the Credit Risk Reporting Team with ~4 staff.

This role is for a Senior Analyst position within MLRT. This is a crucial role in a dynamic team, responsible for:

• Market and liquidity risk measurement and management for the Bank’s balance sheets and the EEA.
• Setting the investment strategy and downstream investments for the EEA, ~$185bn of reserves (as an agent of HM Treasury).
• Providing input on the Bank’s financial market operations across both the SMF and FX balance sheets.
• Developing and implementing risk models, haircuts and stress tests (to interest rates and FX).
• Producing analytical work and drawing out risk-policy trade-offs, with clear recommendations to inform decision making.

ROLE RESPONSIBILITIES:

• Risk monitoring and reporting for the Bank’s balance sheets, and the EEA. Including designing and reviewing frameworks, risk limits and reports.
• Input to policy work for the Bank’s markets operations and financial risk appetite, in the context of broader monetary policy and financial stability objectives.
• Play a leading role in setting the investment strategy and scheduling of investments for the UK’s foreign currency reserves of ~£185bn (the EEA).
• Develop and implement methodologies (for example, collateral haircuts, stress testing, risk metrics and asset allocation).
• Provide first line risk challenge to front office divisions (Foreign Exchange and Sterling Markets Divisions).
• Lead projects, present and participate in internal and external committees.
• Provide analytical support and mentorship to more junior colleagues within the team, to facilitate their delivery and development.
• Build and maintain effective working relationships with colleagues from across the Bank, particularly within the Markets directorate and the Bank’s second-line risk function (Financial Risk and Resilience Division).
• Some members of the team contribute towards the Markets directorate’s Market Intelligence function.
  We encourage applicants from a range of professional backgrounds, as there will be opportunities to develop skills and knowledge whilst in the role!