Description Notes Directorate fulfils the Bank's obligations as the sole issuer of banknotes in England and Wales, to maintain confidence in the currency and ensure the UK’s wholesale cash infrastructure is effective, resilient and sustainable. With staff across Threadneedle Street, Debden and Leeds, we rely on expertise in diverse fields such as economists, supervision, policy and risk analysis, operations, public communications and science. In fulfilling this important and highly visible public role, we ensure that: the public has access to genuine, high-quality banknotes in a range of denominations; and the wholesale cash infrastructure is able to supply banknotes across the UK. The Future of Money Division within Notes considers how long-term demand for cash might change and how the Bank and the cash industry might need to adapt as use of alternative payment methods grows. The Wholesale Cash Supervision Team supports this by fulfilling the Bank’s new statutory responsibility for the supervision of firms that operate the UK’s wholesale cash infrastructure to ensure that remains effective, resilient and sustainable into the future. Ultimately, this helps ensure that people in the UK are able to continue to access cash when and where they need it, an important priority for HM Government and the Bank. Job Description We are looking for a highly motivated and versatile senior analyst to join the Future of Money Division in the Notes Directorate of the Bank of England. The successful candidate will join at a very exciting time to help ensure continued access to cash for those who need it, or choose to use it. As a lead analyst and supervisor in the Wholesale Cash Supervision Team, you will play a central part in fulfilling the Bank’s new supervisory oversight strategy responsibilities, using its statutory powers in the wholesale cash distribution market in a proportionate and effective way. You will be the lead supervisor for at least one firm. The successful candidate will work closely with a wide range of internal and external stakeholders, in particular Legal Directorate, HMT, The Royal Mint the FCA and the newly regulated firms. The role will provide exposure to senior individuals from across the Bank who form the new Wholesale Cash Oversight Committee (CashCo). This role requires someone with supervision experience who wants to apply their knowledge in an environment that will encourage creative problem solving, whilst working with a friendly and highly committed team. Responsibilities will include Building and maintaining effective supervisory relationships with recognised firms, including participants of the Note Circulation Scheme and their backing financial institutions. Acting as the lead supervisor for at least one firm, undertaking all aspects of firm supervision, including analysis of data and information submitted by recognised firms to assess the overall health of the market and identify emerging risks. Taking the lead in monitoring developments in UK cash distribution infrastructure on an ongoing basis and producing relevant MI and briefings to senior management. Scoping and undertaking deep dives into key risks in the market and presenting findings of key supervisory activity such as the Annual Risk Review to the Wholesale Cash Oversight Panel to help inform any necessary regulatory intervention. Building close relationships with key internal and external stakeholders, including HMT, The Royal Mint, FCA and PSR. Requirements Minimum criteria Supervision : Experience in delivering supervisory strategies, and forming robust supervisory judgements to ensure firms manage key risks effectively. Stakeholder management: Ability to create trust and rapport, and to develop impactful relationships at all levels of seniority with internal and external stakeholders, in particular at supervised firms. Risk analysis and judgement: Can demonstrate a strong approach to risk management, including risk identification, prioritisation, and mitigation. Essential criteria Collaborative and Inclusive : A proven team player, working actively with others within the team and among other key stakeholders to achieve common aims. Communication : Strong interpersonal skills, a track record of producing high quality written work and the ability to communicate clearly and concisely, adapting the messaging to suit the audience and representing the Bank in a credible manner. Adaptability and Resilience : Able to take a flexible approach to work and demonstrate resilience to respond well where priorities and deadlines may change at short notice – being part of a small team requires a flexible and pragmatic approach to work. Organisation and Planning: Able to manage workload effectively and to prioritise to focus on what matters most; and ensuring that outputs are suitable for a senior audience. Desirable criteria Proven ability to quickly develop an understanding of technical material. An understanding of how cash distribution infrastructure operates in the UK and key market participants. 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. Salary bandings are circa: London - £52,730 - £60,000 Leeds - £47,430 - £54,000 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 9th Feb, 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.