The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

As a directorate of the PRA, the Supervisory Risk Specialists (SRS) provides deep technical expertise and applies judgement in specific risk disciplines in order to identify, analyse and mitigate material risks to the safety and soundness of PRA regulated firms.  SRS also supports the wider Bank through providing risk specialist expertise to a range of functions including policy development and implementation, the Bank's concurrent stress tests and the supervision of central counterparties.

SRS comprises five divisions:

• Credit, Risk, Analytics, Liquidity and Capital (CRACL)
• Investment Banking and Sector Risks (IBSR)
• Model Development and Review (MDRD)
• Operational Risk & Resilience (ORRD)
• Sector Resilience Division (SRD)

Department Overview

The purpose of the IBSR division is to identify and mitigate financial risks from investment banking activity.  We work closely with colleagues from across the PRA and the Bank.
We deliver our purpose by:

• Applying technical expertise and judgment at firm and systemic level to the identification, assessment and management of traded risks and complex risk transfer transactions. 
• Assessing firms’ product control and valuation as markets evolve and firms continue to innovate products. 
• Assessing firms’ capabilities to wind down their trading books safely.
• Coordinating cross directorate activity on emerging risks (e.g. climate) as well as coordinating SRS’s overall view on risks through its Risk Committee. 

This role is for a Technical Specialist within the Traded Risk Identification and Monitoring (TRIM) team, one of the four teams in IBSR. 

The Traded Risk Identification and Monitoring (TRIM) team is responsible for proactively identifying and assessing systemic and idiosyncratic risks facing the investment banking businesses of UK regulated firms. The team delivers this by maintaining a deep and up-to-date understanding of firms’ business strategy and traded portfolio exposures and risk management; using data analysis and market intel to identify material new trades/products, portfolio concentrations and emerging themes and vulnerabilities; and assessing the effectiveness of firms’ traded risk management frameworks and risk culture. In addition, TRIM acts as SRS’ crisis response unit for traded risk.
TRIM collaborates closely with Supervision, and maintains links with FSSR (Financial Stability, Strategy and Risk) and Markets Intelligence. TRIM plays a central role within the IBSR Division and works closely with the Risk Management & Controls team, where deep-dive reviews are required to further assess areas of concerns.

Job description

The role holder will:

• Maintain a detailed, current awareness of business strategy, trading book profile & profitability and risk metrics for a set of investment banking firms allocated to them.Be able to engage with and constructively challenge firms’ representatives and senior management.
• Assess the adequacy of firms’ traded risk management processes and strategies; evaluate their efficiency in meeting evolving external challenges and their consistency with written frameworks.
• Synthesise data from a variety of sources, including firm MI, market data providers and PRA datasets, in order to identify idiosyncratic and systemic horizon risks and emerging themes; communicate those to IBSR colleagues, PRA supervisors and other parts of the Bank and articulate into impactful outcomes for them to pursue.
• Contribute to the team’s risk data monitor and horizon scanning discussions.
• Provide firm-specific input to SRS leads ahead of Mid-Point Reviews (MPR) or Periodic Supervisory Meetings (PSM).

Role Requirements

Minimum Criteria

• Experience of trading businesses and financial products, key risks and their management.
• Experience of analysing data to identify trends and outliers.
• MS Excel experience and ability to utilise other data and statistical packages.
• Good understanding of effective business practices within banks. This could have been developed through risk-taking or risk management roles in an investment bank; acting as a consultant in a major financial services consultancy practice; or working in a relevant role within a financial regulator.

Essential Criteria

• Experience of writing and delivering detailed reports to a high standard.
• Good personal impact and influencing skills.
• Ability to build strong working relationships with partners
• Strong written and oral communication skills, including the ability to present complex issues clearly.
• Ability to work both independently and as part of a team to deliver timely output
• Knowledge and understanding of the investment banking industry and ability to assess the potential impact of future trends.