Consulting & Advisory (Financial Services) · related to Cybersecurity GRC Consultant

Cyber Risk Consultant (Banking)

BriefYour role

L3 salary: Not published yetSalary figures open with the salaries section.
Upcoming dated changes: 13 changes aheadNext: 7 Dec 2026
Where the changes come from
Each change in the Regulatory calendar comes from an official text, linked on its page.
A change affects this role directly when it names a process that is one of the role's main tasks.
Top critical skills: Application security and frameworks
Identity and access management
Operational resilience and ICT risk rules (DORA and equivalents)

What the role does

Cyber Risk Consultant (Banking) is a role in Consulting & Advisory (Financial Services). The family covers management, technology, risk and sector consulting. The core skill is application security and frameworks, and the main work is audit and assurance, ICT risk and operational resilience and operational risk and controls.

This is a brief profile written from the catalogue. A full profile with a day in the life, level descriptions and the effect of AI is being written.

Levels

L1 Starting out 0-2 years
L2 Independent 2-5 years
L3 Senior or specialist 5-9 years
L4 Leads a team or an area 8-14 years
L5 Leads the function 12+ years

Full level descriptions and job titles

The EFO level names are the common scale; job titles differ between employers.

Levels of Cyber Risk Consultant (Banking)
Level	What the work looks like	Typical years	Typical job titles
L1 Starting out	Learns the job; executes defined tasks with supervision	0-2	Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer
L2 Independent	Owns a process end to end; trains L1; first contact for the team's clients	2-5	Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer
L3 Senior or specialist	Deep expertise; handles exceptions and change; represents the function in projects	5-9	Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team)
L4 Leads a team or an area	Manages people or a large process; owns budgets or controls; escalation point	8-14	Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section
L5 Leads the function	Accountable for the function in a legal entity or region; sets priorities and standards	12+	Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director

Skills

The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.

Critical 5

The job cannot be done without these.

Application security and frameworksWeight 13.3%Anchor skillExpected level: practitionerRelevant to you
Identity and access managementWeight 8.9%Expected level: practitionerRelevant to you
Operational resilience and ICT risk rules (DORA and equivalents)Weight 8.9%Expected level: practitionerRelevant to you
Internal controls and risk oversightWeight 8.9%Expected level: practitionerRelevant to you
Trade lifecycleWeight 8.9%Expected level: practitionerRelevant to you

Important and supporting skills 17

Important 8

Needed in most positions.

Security incident responseWeight 4.4%Expected level: practitionerRelevant to you
Data protection and privacy law (GDPR, CCPA, DPDP)Weight 4.4%Expected level: practitionerRelevant to you
Control mindset (what could go wrong)Weight 4.4%Expected level: practitionerRelevant to you
Professional written communicationWeight 4.4%Expected level: practitionerRelevant to you
Project governance and reportingWeight 4.4%Expected level: practitionerRelevant to you
Security operations tooling (SIEM, EDR)Weight 4.4%Expected level: practitionerRelevant to you
Cloud platforms (AWS, Azure)Weight 4.4%Expected level: practitionerRelevant to you
Building a slide narrativeWeight 4.4%Expected level: practitionerRelevant to you

Supporting 6

Help in many positions.

Networking and operating systems fundamentalsWeight 2.2%Expected level: working knowledgeRelevant to you
Stakeholder managementWeight 2.2%Expected level: working knowledgeRelevant to you
Target operating model designWeight 2.2%Expected level: working knowledgeRelevant to you
Risk judgment and escalation instinctWeight 2.2%Expected level: working knowledgeRelevant to you
Microsoft PowerPointWeight 2.2%Expected level: working knowledgeRelevant to you
Regulatory change impact assessmentWeight 2.2%Expected level: working knowledgeRelevant to you

Useful 3

Occasionally useful.

Monitoring and observabilityWeight 0.7%Expected level: working knowledgeRelevant to you
Working to tight deadlinesWeight 0.7%Expected level: working knowledgeRelevant to you
Querying data with SQLWeight 0.7%Expected level: working knowledgeRelevant to you

Processes

The work the role takes part in.

What each process covers

Audit and assuranceMainInternal and external checks on accounts, controls and processes.
ICT risk and operational resilienceMainKeeping systems secure and available, managing incidents and IT third parties.
Operational risk and controlsMainIdentifying what can go wrong in processes and keeping controls effective.
Securities settlementMainExchanging securities and cash on the agreed date, and fixing failed settlements.
Trade capture and bookingMainRecording trades correctly in the bank's systems after execution.
Trade confirmation and affirmationMainAgreeing trade details with the counterparty before settlement.
Change and project deliverySupportingRunning programmes and projects: plans, budgets, requirements, testing, cutover.
Data management and governanceSupportingData quality, lineage, master data and analytics.

Dated changes for this role

7 Dec 2026ESMA guidelines on allocations and confirmations for T+1Relevant to you
7 Dec 2026CSDR settlement discipline rules updated for T+1 in three stepsRelevant to you
24 Dec 2026EU Digital Identity Wallets: banks must accept themRelevant to you
31 Dec 2026DORA register of information: 2027 annual submissionRelevant to you
1 Jan 2027CSRD scope narrowed by Omnibus I; second wave reports from financial year 2027Relevant to you

Worth knowing

Changes that touch a process this role takes part in as a secondary task.

28 Nov 2026TARGET Services November 2026 releases moved to 28 November 2026
31 Dec 2026Swift defers SR2026 and the end of unstructured addresses
7 Jun 2027Pay Transparency Directive: first gender pay gap reports
1 Jul 2027ECB digital euro pilot with 36 payment providers
10 Jul 2027European Single Access Point opens to the public

See all 20 in the Regulatory calendar

Salary snapshot

Salary figures are not published yet

The L3 salary range for this role, with its sources, will appear here when the salaries section opens.

Certifications

PMP PMI
Lean Six Sigma Green Belt various
CBAP IIBA

Concepts to know

Neighbouring roles

Roles that need many of the same skills, by weighted skill overlap, with the skills you would need to add.

Cybersecurity GRC Consultant

91% skill overlap

To add: Third party risk management and outsourcing rules, IT general controls and SOX ITGC

Your role

Data Protection Specialist

43% skill overlap

To add: Legal research and regulatory interpretation, Ethical judgment in grey areas, Process mapping and redesign

Your role

Risk Advisory Consultant

42% skill overlap

To add: Basel framework and capital, Risk measures and sensitivities, Advanced Microsoft Excel

Your role

Privacy Specialist (Technology)

42% skill overlap

To add: Legal research and regulatory interpretation, Functional analysis between business and IT, Ethical judgment in grey areas

Your role

Internal Audit Consultant

40% skill overlap

To add: Basel framework and capital, Audit methodology, Risk measures and sensitivities

Your role

Financial Services Consultant

33% skill overlap

To add: Process mapping and redesign, Structuring ambiguous problems, Conduct and investor protection rules (MiFID II, FINRA, SEBI)

Your role

Do this job? Suggest a correction

Sources

The EFO role catalogue, with skills, levels and processes. How it is built
ESCO classification of the European Commission (external site) for job titles