As recommended by the PRA Strategic Review, the “Risk Response Team” was launched in March 2022 and forms part of the PRA’s Risk, Governance and Controls Division. 

The Risk Response Team (RRT) is an exciting opportunity to lead on high profile work across the PRA, gaining experience of a broad variety of issues and developing the PRA’s approach to crisis management. The roles include substantial exposure to PRA decision makers and gives you the opportunity to develop a strong network across the PRA and wider Bank.

There are around 11 members of the team, who are deployed across all parts of the PRA to respond to events that require urgent action, potentially covering individual firms/groups of firms as well as systemic issues such as Covid-19 and Russia / Ukraine. The model is flexible, but in most cases, the RRT works with local teams and technical experts to increase their capacity to deal with urgent issues and provide crisis management expertise.

The nature of the issues you work on will differ from project to project, and are likely to span the full PRA risk universe including capital, liquidity, business model analysis, management and governance, risk management and controls, operational resilience and resolution in some cases, and across banking and insurance.  Individual assignments will be time-limited with clear deliverables.  You will also be responsible for the development of the PRA’s central processes and tools to handle crisis situations.

Role Descriptions

The team comprises both permanent roles and long term secondments, with a mix of G, F, and E scales. Exact responsibilities will vary across projects, and the broad scope for each scale is set out below:

Scale E: Provide consultancy support to supervision teams/departments, developing scope and proposed deliverables for Risk Response Team engagements. Ownership for individual engagements, taking responsibility for delivery. Set out work and provide guidance for scale F/G members of the Risk Response Team.

Scale F: Ownership for individual workstreams within engagements with oversight from line supervision managers and/or Risk Response Team manager.  Assist Scale Es in scoping/defining terms of engagements.

Scale G: Support work of Scale F/E team members and broader line supervision team. Ownership of aspects of individual workstreams under supervision of senior supervisors.

Essential Criteria

To be successful, you will need:

• Strong analytical skills, with a track-record of being able to learn new technical subject matter quickly.  In particular, a proven ability to use accumulated knowledge, skills, and experience to make good principles-based judgements in your work.
• Ability to react quickly as issues arise, work autonomously and work well under pressure.
• Strong communication skills, written and oral.
• The ability to form new working relationships quickly and adapt to working in a variety of teams.
• Willingness to learn and develop, taking on new responsibilities and adopting a flexible and pragmatic approach to your work.

Desirable Criteria

• Relevant technical skills include capital, business model analysis, risk management, management and governance, balance sheet risks (e.g. liquidity risk), recovery and resolution planning, in the context of banking and/or insurance.
• Softer skills including presentation, interviewing and relationship building.
• Demonstrated versatility – i.e. to have successfully delivered across a variety of different roles / subject matters.
• A good understanding of key policy initiatives impacting the banking and insurance sectors.

limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation.  One way we support diversity and inclusion is through our staff-run networks, 

We are fully committed to having a diverse and inclusive working environment, and are open to considering how the role might be carried out with flexible working.  This role is therefore open to flexible working patterns.

Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. From 6 June 2022, we expect colleagues to spend a minimum of 40% of their working time in the office per month.  Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this.  We are a member of the Disability Confident scheme,  and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.  

The salary range for these vacancies is £35,000 - £70,000, dependent on relevant skills and experience and the scale you join at. In addition, the total reward package also includes: 

• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
• A discretionary performance award based on a current award pool.
• A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 25 days annual leave with option to buy up to 13 additional days through flexible benefits.
• Private medical insurance and income protection.