Department Overview The recently formed Strategic Change & Operations (SCO) directorate is central to the success of MBPR. With around 140 staff, it undertakes the management and control of end-to-end business process and data flows in relation to market operations; works to devise and implement the operational strategy for MBPR and takes the lead on cross-divisional issues relating to: operational resilience; change delivery; business planning and oversight; challenge and mitigation of operational risk; people strategy including promoting diversity and inclusion. Middle Office which sits in SCO has three main teams: Counterparty & Collateral Operations (CCO), Operational Financial Control (OFC) and Pricing Policy & Valuation (PPV). The CCO team manages the eligibility of balance sheet and collateral assets including loans and the application of haircuts, whilst also being responsible for how counterparty and instruments data are stored in Markets' systems. The team works alongside a Support Team to identify and implement improvements to the current operational processes in the newly implemented middleware system, EDM. In addition, the team works closely with Pricing Policy & Valuations (PPV) in Middle Office and the Financial Risk Management Division (FRMD) to implement new risk policy and methodologies, as well as managing the loans data processes. Job Description We are looking to fill a Senior Operational Analyst role on the team. The successful candidate will join a team consisting of a Manager, two Senior Operational Analysts, three Operational Analysts and three Operational Technicians and five Operational Assistants. The job holder will be an integral member of the CCO team and as such will play a key role in the support of the Bank's financial and monetary operations. The job holder will be given the opportunity to research and implement improvements and will have exposure to high profile projects in addition to their regular work across teams within Middle Office, SCO, Markets and other directorates. Key responsibilities of the team include, but are not limited to: Manage and own market data, implementing and maintaining consistent records for use across multiple systems and by key stakeholders Management and leadership across the CCO team, remaining responsible for training and development of individuals whilst also providing day to day mentoring Coordinate, liaise and communicate across the Front, Middle and Back Offices to ensure smooth and effective running of the Bank's operations Developing an understanding of the Bank's Risk Management functions and close liaison with FRMD to implement the Bank's polices Acting as a subject matter expert across the business, representing CCO and often Middle Office in directorate-wide change initiatives Role Requirements Minimum (Essential) Criteria An interest in the Bank's market operations Experience in engaging and sustaining key working relationships at different reporting levels and an ability to apply wider networking skills to influence deliverables An ability to work on multiple work streams, prioritising effectively and often to tight deadlines Experience of promoting a culture of Diversity, Equity and Inclusion. Experience of reviewing and reducing operational and financial risk Experience of working in an operational area, on business analysis, or Operational policy implementation. Track record of coordinating large change initiatives or projects, including the ability to identify and implement business improvements Strong IT skills and a proven track record of learning new processes and systems Management and coaching experience including mentoring, providing feedback and development support of analytical and interpersonal skills Desirable Criteria Knowledge of, or a desire to learn, coding packages such as R, Python or Tableau. An understanding of any of the following: financial market instruments; counterparty onboarding; eligibility criteria. An ability to identify and understand our risk and controls, challenging where things look wrong to drive improvements Experience of providing effective training on processes and an understanding of documenting knowledge and sharing knowledge effectively This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness. Number of direct reports: 1 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. Leeds - This role offers an annual salary of £47,430 - £54,720 London - This role offers an annual salary of £52,730 - £60,840 In addition, we also offer a comprehensive benefits package as detailed below: 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 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 stages. This role closes for applications on 4 February 2025. 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.