Description Department Overview The 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 four main teams: Counterparty & Collateral Operations (CCO), Operational Financial Control (OFC), Pricing Policy & Valuation (PPV) and the EDM Support Team (EST). The Middle Office team sits in the heart of the Bank’s financial operations in supporting the Markets Front Office and Risk Management functions and systems, including links through to Back Office and external counterparties. The Collateral & Counterparty Ops (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 Pricing Policy & Valuations (PPV) price all eligible collateral each day. Both teams use the EDM system on a daily basis, the EDM Support Team (EST) within Middle office mainly aims to support CCO and PPV with their use of EDM. EST also manage Middle Office system change and other EDM related activities (e.g. a recent EDM Upgrade Project) by being the primary liaison team between Markets, DSID and Technology. Job Description We are seeking an individual to join our team as an Assistant Market Operations Technician whilst also completing the Business Analyst Level 4 Apprenticeship programme. See links below for more information Markets is a dynamic and fast paced area and, as a result, the job holder will have exposure to high profile projects in addition to their regular work. EDM is a critical system for Middle Office/Markets to deliver on their strategic aims and with EST being a relatively small team, the jobholder will be required to understand the business requirements and then assist technology stakeholders through the development cycle. Once knowledge of the EDM system grows, the job holder could potentially convert business requirements into technical requirements to help make the change process even more efficient. A large part of the role on EST is managing general change. The jobholder will need to help prioritise change between the CCO and PPV teams as well as taking into consideration the wider Markets and Banking areas. EST regularly liaise with the DSID Team (EDM system owners) inputting into the overall change programme, often assisting with testing and other areas of the change process. For more information on the apprenticeship, including the end point assessment please see: Business Analyst Level 4 Apprenticeship | QA Below are the main areas of responsibility for the EST team: Change Management – We are currently loosely following an Agile change model. Incident Management and Resolution – initial triage of issues raised using system knowledge where possible. EDM Project Change Management – lead and oversee on Markets related projects, organising test systems for CCO/PPV as well as managing test cycles and plans to help project to remain within agreed timelines. General EDM improvement Change Management and impact analysis– EDM is an enterprise system, EST need to keep abreast of system changes to assess potential impacts on Middle Office users and processes; and associated risks. Provision of technical expertise and testing support may be required. There is a constant programme of EDM change and the EST Team play an important role in assessing the nature of changes across the system, with the system owners, and identifying potential impacts on Middle Office data and processes. For Markets related change, some change may benefit from EST testing etc. Identify and implementation of EDM and/or change process improvements – Continuously seeking to make the system and/or processes more efficient. Management Information – Support the key operations of the team, spotting trends and anomalies in the data where appropriate. Requirements analysis - Supporting CCO and PPV on the articulation of business requirements and where possible, convert these into technical requirements. Role Requirements Working to tight deadlines with the ability to manage your own workload and effectively prioritise tasks Attention to detail with the ability to deliver outputs to a high standard Coordinating large change initiatives or projects, including the ability to identify and implement improvements Some knowledge of the Bank’s financial market operations would be an advantage Organisational skills Proactively pushing to complete workstreams by chasing relevant areas/people when necessary A team player, willing to help others to achieve results An intuitive ability to identify and understand our risk and controls, challenging where things look wrong to drive improvements An ability to work on multiple work streams, prioritising effectively and often to tight deadlines Develop a good understanding of business change and the related development life cycles. Also an understanding of the practises and concepts around collating data for change (e.g. prioritisation of CRs etc) Ability to look beyond just the ‘button pushing’ of processes, have a keen interest in the ‘how’ and ‘why’ around how our systems work and support MO business processes. Entry requirements for the Apprenticeship Minimum of five GCSEs at C (4) and above (including English and maths) and have or are predicted to have at least 72 UCAS points from up to three A levels ( or equivalent). 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. This role offers a salary of circa £26,960 - £30,330. 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 interview stages. This role closes on Monday 2nd December 2024. 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.