Senior Risk Specialist (Data Scientist)

LEEDS BASED

Supervisory Risks Specialists Directorate

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 as well as financial stability objectives. 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, Concurrent Operational Resilience Stress Testing, central counterparty and payments oversight.
SRS comprises five divisions:

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

Operational Risk & Resilience Division

The Operational Risk and Resilience Division (ORRD), part of the SRS Directorate, plays a pivotal role in shaping the PRA's supervisory approach to operational risk and resilience. This is a unique opportunity to contribute to the evolution of ORR policy and practice, influencing both regulatory and financial stability agendas. The work spans system-wide issues and engages with central banks, regulators, and government agencies at both domestic and international levels, giving you an opportunity to shape strategic developments in operational risk and resilience.

Operational Risk and Capital Intelligence Team

The Operational Risk and Capital Intelligence team is responsible for developing the tools and insights needed to drive a system-wide view of operational risk management, capital and related emerging trends. These allow ORRD to prioritise what matters most and strengthen the evidence base for capital judgements and how they integrate with the division's broader risk & resilience toolkit using a combination of quantitative and qualitative assessment methods.

Job Description

An opportunity has arisen for a Senior Risk Specialist (Data Scientist) in the Operational Risk and Capital Intelligence team.

Responsibilities

• Applies data science and advanced analytics techniques to operational risk and resilience data to support supervisory judgement and decision making. 
• Works across the division to identify, curate and exploit internal and external data sources to draw actionable insights relevant to all aspects of operational risk and resilience.
• Develops and maintains analytical tools, data modelling and visualisations that improve insight, comparability and consistency of supervisory assessments. 
• Works with experts to frame analytical questions and shape hypotheses that support supervisory priorities to ensure data is used proportionately and effectively in firm assessments and cross-firm analysis. 
• Translates complex analytical outputs into clear, decision‑relevant insight for supervisors and senior stakeholders and actively proposes optimal methods for distilling intelligence from relevant data. 
• Exercises sound judgement when working with imperfect, incomplete or noisy data, clearly articulating limitations, assumptions and uncertainty. 
• Influences how data is used across the division by promoting good practice, common approaches and efficient reuse of analytical assets.
• Owns the delivery of analytical products, contributes to shaping analytical priorities across the division, and influences the adoption of data-driven approaches beyond immediate assignments.

Requirements

Minimum Criteria

• Relevant professional experience applying data science, statistical analysis, machine learning or advanced analytical techniques to complex risk, regulatory, policy or business problems.
• Experience developing and maintaining analytical tools, data models, dashboards or visualisations that improve consistency, comparability and decision-making.
• Relevant experience in data modelling, data lifecycle management, sourcing, preparation, modelling, validation, visualisation and communication of results.
• Experience working with structured and unstructured datasets and extracting meaningful insights from imperfect, incomplete or complex data.
• Ability to develop strong partnerships across our pool of subject matter experts to derive key risk indicators.
• Ability to translate technical analytical findings into clear and actionable insights for non-technical stakeholders.
• Strong problem-solving skills and the ability to exercise sound judgement when working with uncertainty, assumptions and analytical limitations.
• Experience working collaboratively with subject matter experts to frame analytical questions and support evidence-based decision-making.

Essential Criteria

• A vision for how data science and advanced analytics can strengthen supervisory assessment, risk identification and decision-making across operational risk, IT risk and resilience.
• Ability to apply advanced analytical and data science techniques to identify patterns, emerging risks and actionable insights from a range of internal and external datasets.
• Ability to define analytical approaches, derive metrics that illuminate key business risks and shape hypotheses that address complex supervisory, regulatory or risk management questions.
• Experience influencing the use of data and analytics across teams through the promotion of good practice, common methodologies and scalable analytical solutions to help answer specific operational risk and resilience questions.
• Strong ability to present complex analytical concepts, assumptions, limitations and uncertainty to both technical and senior non-technical audiences in a clear and accessible way, demonstrating their relevance to key business outcomes.
• Experience partnering effectively with multidisciplinary teams, including risk specialists, supervisors and policy experts, to deliver impactful analytical outcomes to help answer key business questions.
• Sound understanding of data quality, governance, model risk and the controls required to support robust analytical decision-making needed to drive key business decisions.
• Experience producing senior-grade analytical outputs, briefings and recommendations that inform strategic decisions, supervisory assessments or organisational priorities.
• Ability to coach, support and influence colleagues, helping to build analytical capability and encourage greater adoption of data-driven approaches.

Desirable Criteria

• Experience applying machine learning, artificial intelligence or advanced statistical techniques to risk management, supervisory or regulatory challenges.
• Experience leading cross-functional analytical initiatives involving multiple stakeholders and specialist disciplines with ability to influence analytical thinking and best practice.
• Relevant professional qualifications or advanced academic qualifications in data science, statistics, mathematics, computer science, operational research or a related discipline.
• Understanding of operational risk, operational resilience, technology risk, cyber risk or operational risk capital frameworks.
• A genuine interest and curiosity in understanding proximity of external risks in relation to the team's and division's portfolio of work.

What will I get from the role?

• Shape how data science and advanced analytics are used to support specialist supervision of operational risk management.
• Develop innovative analytical tools and approaches that strengthen the PRA's supervisory toolkit and evidence base.
• Undertake stimulating and intellectually challenging work at the intersection of data science, supervision and financial stability.
• Influence supervisory priorities, firm assessments and strategic decision-making through impactful data-driven insights.
• Glean business insights by working alongside leading subject matter experts across operational risk, resilience, cyber risk, third party risk and capital modelling.
• Contribute to the Bank's analytical community and play a role in the evolution of data-driven supervision across the PRA.

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 aim for 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.

We offer a salary circa £65,440 - £73,000.

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.

This role closes on 2nd Nov.

The assessment process will comprise of two interview stages.

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.