Description
Division Overview
Payment Operations Division is responsible for running the RTGS and CHAPS services and is at the heart of our 'Resilient and Responsive' strategic goal. We benefit from teams focused on day-to-day operations and managing the wider range of participants we service. We operate a continuous improvement model and have a close working relationship with embedded and matrixed Technology teams to help ensure we maintain the highest standard of service provision for RTGS. The division also contains a Change & Planning Office responsible for coordinating changes to our live systems and our dedicated local risk management, operational resilience and comms/engagement functions, reflecting the criticality and scale of the services we provide.
Department Overview
The Payments Risk team is our embedded first-line risk team, responsible for ensuring that the RTGS and CHAPS services are run in line with the Board-approved risk tolerance statements. We do this by implementing our risk management framework and risk policies, ultimately collating risks into a risk register, as well as embedding risk culture for how we develop and deliver our RTGS and CHAPS services.
We are recruiting for a Senior Risk Analyst to lead analytical risk activity related to our third-party risk and assurance activities.
Job description
What you'll do
You will improve how we manage third‑party risk: sharpen frameworks, KRIs and controls so they work in real life.
You will own assurance activity across key suppliers: plan reviews, dig into the evidence, and spot what matters.
You will make risk clear: turn technical detail into crisp reports and briefings that senior leaders can use.
You will partner across the 3 lines of defence to get fixes agreed and delivered.
What you'll bring
You'll already have a feel for how third‑party or outsourcing risks work in complex organisations, whether that's from financial services, tech, government, or another regulated space.
You'll be someone who can communicate clearly and cut through ambiguity, turning messy or incomplete information into something people can use. You'll be organised, pragmatic, and able to juggle priorities without losing sight of the detail. Most importantly, you'll bring curiosity, good judgement, and a drive to help us keep improving how we manage third‑party risk.
You don't need to be an audit specialist, but you should be comfortable working with frameworks like ISAE 3402 or ISO27001 and confident asking the right questions to get underneath the detail on third-party performance.
Why this role
Real impact, real visibility, and work that genuinely strengthens the resilience of UK payment services alongside a supportive, inclusive team that values diverse perspectives and practical outcomes.
Key responsibilities include but are not limited to:
Lead risk assessment activity relating to the third-parties involved in the delivery of the RTGS / CHAPS services. Lead assurance reviews of our most critical third-parties.
* Contribute to the strategy for 3rd party risk management for RTGS/CHAPS, and deputise for the TPRM Manager as required.
* Work individually to prioritise own workload and line manage/mentor more junior staff when required.
* Engage with stakeholders in all 3 lines of defence to promote a shared understanding of assurance activities and outcomes.
* Develop and embed risk 3rd party risk management framework, strategy, policies and procedures.
* Planning, executing and improving key external audit activities (ISAE3402 and ISO Leading assurance review of audit activities on our third-parties.
* Suggest initiatives to enhance the effectiveness of the RTGS/CHAPS third-party risk management processes and controls.
Minimum criteria
* A clear understanding of 3rd party and outsourcing risks and how they can be managed with minimum 2 years' experience in TPRM within a relevant sector e.g. government department, a Financial Market Infrastructure, bank, insurance or technology company.
* An understanding of industry standard control frameworks and auditing standards (e.g. ISAE 3402, ISAE 3000, ISO27001, ISO27002, Cyber Essentials plus) and a track record of successful assurance analysis.
* Proven exceptional communication and presentation skills, with an ability to convey complex risk information in a clear, concise manner even when working with ambiguous situations.
* Proven strong organisational skills and attention to detail, with the ability to manage challenging timelines through effective prioritisation.
* Proven ability to influence stakeholders towards good risk management outcomes.
* An encouraging team player who is able to work autonomously, challenge constructively and handle a range of parallel activities who understands the Banks 'Bank behaviours' and culture.
* People management experience or (demonstrated via career to date) the desire to learn these skills.
Essential criteria – candidates with the following experience will have an added advantage
* Professional risk management qualification
* Experience leveraging and managing data to support risk assessment and reporting.
* Familiarity with technology and cyber risks and related control frameworks.
* Previous experience of supervision or regulatory oversight.
* Familiarity with banking regulations and standards, particularly those related operational risk and resilience
Desired criteria – we value candidates who have achieved the following:
* Third-party risk CPD credits.
* Proven experience of workflow tools (Jira, confluence etc)
Candidates who have applied previously will not be considered at this time.
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed
For most roles where work can be carried out at home, we expect colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the 'Candidate Personal Information' under the 'Disability Confident Scheme' section of the application.
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 is based in our Leeds office and offers a salary of £50,320 - £56,610.
In addition, we also offer a comprehensive benefits package as detailed below:
* Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
* A discretionary performance award based on a current award pool.
* An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
* 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.
* Private medical insurance and income protection.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.
The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.
The Application Process
Important: Please ensure that you complete the 'work history' section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It's therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two interview stages. For the first interview candidates will prepare and deliver a short presentation. The second interview will be skills and competency based interview.
This role closes on 13 February.
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.