Senior Operational Risk Analyst in MBR; P Compliance

Senior Operational Risk Analyst in M (P) Compliance

Join to apply for the Senior Operational Risk Analyst in M (P) Compliance role at Bank of England

This range is provided by Bank of England. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Location: London, Threadneedle Street

The MBPR Deputy Governorship:

The Bank of England's mission is to deliver monetary and financial stability for the British people. To deliver this mission, MBPR carries out diverse operations including: managing the Bank's sterling and foreign currency balance sheets; managing national foreign currency reserves for HM Treasury; gathering market intelligence; offering banking services to HM Government and other central banks; operating Real Time Gross Settlement systems, and acting as the UK's resolution authority.

This role also supports the other Important Business Services performed across the Bank.

Reporting to the Bank's Money Laundering Reporting Officer (MLRO), the MBPR Compliance Team has two core functions:

• Support the MLRO in their role as the Bank‑wide Fraud and Insider Risk Custodian - through forward‑looking assessment and oversight of fraud/insider risks and controls;
• Management of conduct risk across MBPR.

Detailed Role

Description:

Reporting to the Compliance Manager, you will be the team's lead analyst for Fraud & Insider risk management. You'll provide technical expertise and collaborate with risk/control owners, business teams and risk specialists across the Bank to lead delivery of fraud and insider risk oversight.

Key responsibilities include:

• Critical Metrics & Management Information: You will design, maintain, monitor and report on the critical metrics that set Bank‑wide risk tolerance for fraud/insider risk. You will also co‑ordinate the provision of management information needed to manage risks within appetite.
• Framework creation and maintenance: You will collaborate with risk and control owners to design and implement a Bank‑wide fraud & insider risk management framework that defines: roles and responsibilities; risk and control assessment and management approaches; and key requirements for all staff, benchmarking against best‑practice frameworks and guidance.
• Risk assessment: You will refresh the current approach for assessing fraud and insider risk across the Bank's Important Business Services and supporting functions. You will then keep assessments current through horizon scanning, leading engagement with Legal on regulatory change impact assessments and ensuring clear stakeholder communication.
• Partnership building & continuous improvement: You will partner with material control owners across the Bank to: strengthen preventative and detective controls; provide advice; disseminate and track lessons learned from investigations; and coordinate thematic risk reviews and control deep‑dives (benchmarking controls against legal, regulatory and industry best practice).
• Training, awareness & security culture: You will support the review and enhancement of training and awareness materials and the Bank's security culture.
• Governance & fora
  :
  You will support the Fraud & Insider Risk Working Group and attend other Bank‑wide fora as appropriate.
• Project management: You will lead elements of the agreed programme of improvements for fraud and insider risk management.

You will also have the opportunity to support broader conduct risk management (including fraud & insider risk) across Markets, Banking & Resolution and Payments-providing expert advice, training, monitoring support and delivering conduct training sessions. For clarity, the MBPR Compliance Team's remit excludes anti-money laundering, counter terrorist and proliferation financing and financial sanctions compliance risk management. This responsibility resides with the Financial Crime Team that also reports directly into the MLRO.

• Demonstratable experience applying risk management and governance principles in a regulated or financial environment
• Proven technical expertise in managing both internal and external fraud risk, as well as insider risk.
• Working knowledge of…