The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

Banking, Payments and Innovation Directorate supports the Bank's mission to maintain monetary and financial stability by using and sharing its expertise to: develop and operate resilient and efficient banking, payment and custody services; set and influence policy; and to promote innovation.

We are at the heart of the Bank both in terms of our core role in Monetary and Financial Stability, and the wide range of internal stakeholders we collaborate with. BPI has a lead role in one and a significant role in four of the Bank's strategic priorities. The variety and immediacy of the work we do means we are one of the most outward facing and fast moving areas of the Bank, operating the UK's high value payments system (the Real Time Gross Settlement System and CHAPS), maintaining the Bank's readiness to provide Emergency Liquidity Assistance to banks and other financial institutions, and acting as the 'bank' within the Bank of England for government, UK CCPs and other central banks.

Department Overview
Custody, Settlement, and Liquidity (CSL) is made up of three teams; the Market Settlements Team (MST), the Collateral Management and Custody Team (CMC), and the Business Support Team (BST). CSL sits within the Central Banking Operations Division of Banking, Payments and Innovation (BPI) Directorate.

Whilst based in the BPI Directorate, CSL has strong links with the Bank's Sterling Markets and Foreign Exchange Divisions and regularly interacts with a broad range of other financial institutions.

Job description
Within CSL, MST provides securities custody and settlement services in support of the Bank's and EEA's foreign reserves. CMC provides securities custody and settlement services for a range of customers including the DMO and foreign central Banks and settlement of the Bank's official Sterling Monetary Framework (SMF) operations. BST are responsible for providing support for all environments of the Megara system used by the CMC team, managing all Megara related change, and managing the relationship with Vermeg - the offshore supplier of the Megara system.

We are currently recruiting for several technical specialist positions across the teams, with scope to either join the team running daily operations or to work on a number of high profile projects and change initiatives including through all stages of requirements, testing and implementation.

The roles would be tailored to the requirements of the team and to the skillsets of the individual, but could include:

• Supporting and monitoring of daily operations , to ensure the settlement of the Bank's official operations, to provide liquidity to the market during both normal and stressed conditions through regular operations; and to provide effective asset servicing and custody services to our Clients. Help coordinate testing of the Bank's contingency facilities to ensure smooth settlement in all operational scenarios.
• Produce and present management information on the values and volumes of the work of the team, identifying trends in the data.
• Being a source of technical expertise in all aspects of the team's work ; both process and systems related, in order to provide support and guidance for team members in resolving any issues or queries that arise. Providing training and mentoring to team members as well as providing feedback on performance.
• Managing change initiatives impacting CSL's business operations and systems from analysis through to delivery , both in response to Markets' requirements, technology and the team's own initiatives. Technical Specialists will be expected to complete the requirements for changes and improvements to systems and help implement changes through testing and reviewing test output.
• Working with the other Technical Specialists and the team to identify operational risks and contributing to the production of risk reporting both within CSL reporting and also wider divisional risk reporting.
• Operational excellence and continuous improvement ; identifying and driving improvements within CSL as well as promoting a culture of continuous improvement among the team members.
• Relationship and Stakeholder management ; meeting with our clients and custodians to discuss existing and new business. This includes internal Bank customers as well as external clients from Central Banks to SMF participants and also I/CSDs to other third parties.
  

Role Requirements

Essential Criteria

• Strong organisation and workload management skills including the ability to prioritise and switch between tasks to meet deadlines
• Ability to work accurately and to tight (sometimes urgent) deadlines
• A proven track record of problem solving including identifying and providing resolutions or recommendations
• Good written and oral communication skills, with the ability to adapt as necessary in order to build strong relationships with a range of internal and external stakeholders
• A self-starting and pro-active attitude
• The ability to work both independently and within a team environment

Desirable Criteria

• Experience of using settlement systems, including Openlink, Megara, CREST, Euroclear, Clearstream, RTGS, SWIFT, Fedwire or DTCC;
• Asset servicing experience;
• Collateral processing and settlement experience;
• Project/change management experience;
• Knowledge of the Bank's market operations.
• Experience managing and delivering change or small projects, from the analysis of requirements through to testing and implementation.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested as any incomplete submissions may not be reviewed.

We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.

Due to the operational and split site working requirements successful candidates may be required at times to cover Start of Day (8am) and End of Day rotas (approx. 7pm-7.30pm). The above responsibilities are covered on a rota basis by all job holders.

The Bank actively supports flexible working. Although a minimum amount of operational cover is needed in this role, there are opportunities to work flexibility in order to support a good work/life balance.

The closing date for applications is 23 April 2021.

Please apply online, ensuring that you answer the application questions and submit your CV and most recent PRS.

As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.
The salary range for this vacancy is £28,050 - £35,000 per annum (depending on skillset and experience).

In addition, the total reward package also includes:

• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
• A discretionary performance award based on a current award pool.
• A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 25 days annual leave with option to buy up to 13 additional days through flexible benefits.
• Private medical insurance and income protection.