Join to apply for the Executive Director, Risk Directorate role at Bank of England
This position will be based in our Leeds office.
Directorate overview
Established in 2018, the Risk Directorate plays a pivotal role in safeguarding the Bank's integrity and operational resilience. It is responsible for providing independent oversight of financial and enterprise risk, ensuring that the Bank operates within its defined risk appetite and complies with internal policies and regulatory requirements.
The Directorate comprises three core functions:
* Enterprise Risk and Resilience - overseeing strategic, operational, and reputational risks, including business continuity and crisis management.
* Financial Risk & Resilience - managing market, credit, liquidity, and counterparty risks, with a focus on financial stability and prudential oversight.
* Central Compliance Function - ensuring adherence to legal, regulatory, and ethical standards across the Bank's operations.
The Directorate's vision is to enable the Bank to take risk confidently, with agreed appetite, ensuring that all risks are well understood, appropriately managed, and aligned with the Bank's mission and strategic objectives.
The division has circa 90 employees and the post holder will have 3 direct reports.
Role purpose
The Chief Risk Officer (CRO) reports to the Chair of ARCo with a dotted line to the Governor and is the executive responsible for leading the Bank's enterprise-wide risk management strategy. This role ensures that the Bank proactively identifies and assesses risk, enabling us to take mitigating action where necessary to bring risks within the right tolerance. The CRO's leadership is vital to supporting confident and informed decision-making, and the right amount of risk-taking, in pursuit of the Bank's public mission.
The CRO acts as a trusted advisor to the Governor, the Executive Risk Committee and the Court of Directors, providing independent assurance and strategic insight into the Bank's risk posture.
Key responsibilities
* Strategic Leadership: Define and lead the Bank's risk management vision, ensuring alignment with organisational goals and regulatory expectations.
* Second Line Oversight: Lead the second line of defence, developing and embedding robust risk frameworks, policies, and tools across the organisation.
* Governance and Assurance: Provide independent assurance to Court, ARCo and the Executive Committee on the effectiveness of risk controls, mitigation strategies, and compliance practices.
* Committee Engagement: Chair and actively participate in key risk and assurance committees, influencing strategic decisions and promoting a culture of accountability.
* Stakeholder Collaboration: Partner with senior leaders across directorates to embed a strong risk culture and ensure that risk considerations are integrated into planning, operations, and policy development.
* Directorate Management: Lead and develop the Risk Directorate, fostering high performance across Enterprise Risk, Operational Resilience, Risk Analytics, and Compliance teams.
* External Representation: Represent the Bank in external forums, regulatory engagements, and industry networks on matters of risk, resilience, and governance.
* Crisis Preparedness: Oversee the Bank's approach to crisis management and operational resilience, ensuring readiness to respond to emerging threats and disruptions.
* Proven track record of senior leadership in enterprise risk management, within central banking, financial services, and/or public sector institutions.
* Deep expertise in risk governance, regulatory frameworks, and assurance methodologies.
* Strategic thinker with the ability to influence and advise at Board and Executive levels.
* Strong people leadership skills, experience in leading and developing multidisciplinary teams and driving cultural and organisational change.
* Exceptional communication, negotiation, and stakeholder engagement capabilities.
* Strong commitment to diversity, equity and inclusion and experience of managing, coaching and developing diverse teams.
* Experience in crisis management, operational resilience, or financial stability.
* Familiarity with the Bank's mission, governance structure, and regulatory environment.
* Exposure to international risk standards and cross-border regulatory collaboration.
Minimum requirements
* Proven track record of senior leadership in enterprise risk management, within central banking, financial services, and/or public sector institutions.
* Deep expertise in risk governance, regulatory frameworks, and assurance methodologies.
* Strategic thinker with the ability to influence and advise at Board and Executive levels.
* Strong people leadership skills, experience in leading and developing multidisciplinary teams and driving cultural and organisational change.
* Exceptional communication, negotiation, and stakeholder engagement capabilities.
* Strong commitment to diversity, equity and inclusion and experience of managing, coaching and developing diverse teams.
Desirable requirements
* Experience in crisis management, operational resilience, or financial stability.
* Familiarity with the Bank's mission, governance structure, and regulatory environment.
* Exposure to international risk standards and cross-border regulatory collaboration.
Salary and benefits
Salary and Benefits Information
We encourage flexible working, part-time working and job-share arrangements. Part-time salary and benefits will be on a pro-rated basis as appropriate. This role offers a competitive salary. We also offer a comprehensive benefits package as detailed below:
* Non-contributory, career-average pension with a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is an option to adjust (to 1/65th) or (to 1/105th) in exchange for salary through our flexible benefits programme. The Bank reserves the right to vary accrual rates or adjust options.
* A discretionary performance award based on a current award pool.
* 8% benefits allowance with option to take as salary or purchase flexible benefits.
* 26 days' annual leave with option to buy up to 12 additional days.
* Private medical insurance and income protection.
National Security Vetting
Employment in this role will be subject to National Security Vetting clearance (typically 6–12 weeks post offer) and other Bank security checks. Further information will be provided to the successful applicant, and details about data processing are in the Bank's Privacy Notice.
The Bank of England welcomes applications from all candidates, but sponsorship for immigration purposes is limited and assessed case by case.
The application process
Important: Please ensure you complete the 'work history' section and answer ALL application questions fully. All candidate applications are anonymised to ensure hiring managers cannot see your personal information during screening. Your answers will form a critical part of the initial selection process.
The assessment process will comprise two interview stages and a psychometric assessment for those progressed to the second stage.
This role closes on 23:59 on 20th October 2025.
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail, as applications may not be considered if mandatory questions are not completed.
Note
The Bank is a UK Visas and Immigration sponsor; eligibility for sponsorship will be considered on a case-by-case basis.
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