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Analyst, Markets Directorate

Employer
Bank of England.
Location
UK-ENG-London
Salary
Competitive
Closing date
8 Jun 2021

View more

Clearance Level
DV, SC, None / Undisclosed
Sector
Central Government
Job Type
Permanent
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Job Details

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, made up of approximately 4,000 people - each committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

Markets, Banking and Resolution

Markets, Banking and Resolution is one of four Deputy Governorships in the Bank and plays a critical role in the Bank's mission to promote monetary policy and financial stability. It leads our sterling market operations, runs the UK's high value payments system, manages its foreign exchange reserves, and acts as the 'bank' within the Bank of England. It uses its presence, expertise and influence in financial markets to advise and shape the Bank's policy decisions and priorities. The Bank is the UK resolution authority, with responsibilities that include the execution of resolutions and developing policy to make banks more resolvable. The Resolution Directorate is the team that performs that function. MB&R is also home to the FinTech Hub, preparing the Bank for developments in financial technology.

It is an exciting, operationally diverse and outward facing area in which to work.

The Markets Directorate includes 6 Divisions which are:
  • Sterling Markets
  • Foreign Exchange
  • Market Intelligence
  • Financial Risk Management
  • Middle Office
  • Markets & Banking COO

Department Overview

The M&B Chief Operating Officer Division (COOD) is central to the area. With around 65 staff, it works to devise and implement the operational strategy of the area and takes the lead on all cross-divisional issues relating to: operational resilience; change delivery; business planning; oversight, challenge and mitigation of operational risk, and promoting diversity and inclusion.

Job description

We're looking for an analyst to join the Operational Policy Team. This is an exciting role that is centered around Market & Banking's data and analytics (D&A) strategy: helping to build and deliver M&B's roadmap for data and analytics, liaising with key stakeholders across M&B as well as Data and Analytics Transformation, Technology and the Analytics Enablement Hub, overseeing the agenda and supporting the M&B D&A board, and leading on oversight of our use of Market Data. The role will also involve cross-skilling with the other analyst on the team, with the opportunity to lead on and contribute to aspects of M&B's work on prioritisation, contribute to 'internal readiness' for major relevant events, and provide cover for COOD's counterparty default readiness work. This work is important in helping ensure that M&B is: making the best use of D&A tools (such as R, Tableau), prepared for major events, and focusing on 'the right things'. You will gain a unique oversight of the breadth of M&B's work and the issues arising across the two directorates, gain insights into M&B's contribution to the Bank's strategic goals and develop a range of technical skills, including through deeper 'readiness' work and data and analytics-related work.

You will be one of two analysts on the Team, working closely with colleagues within the team and across M&B, including senior management. The Team is also responsible for ensuring that M&B operates under robust governance frameworks and provides analytical support to the COOD's Business Management Team work.

The role covers a variety of areas, and involves using analytical and technical skills to contribute to or lead our thinking on work like:
  • Inputting to the design and implementation of a roadmap for M&B's data and analytics (D&A) strategy, as well as contributing to our day to day D&A work (alongside another analyst).
  • Leading on the implementation of the Bank's data management and analytical policies in M&B.
  • Ensuring we operate in a way that is consistent with our budget for Markets data.
  • Coordinating M&B's transition from LIBOR and ensuring that we are operationally ready.
  • Provide cover for our readiness work for counterparty default, led by another analyst alongside FRMD.


Role Requirements

Minimum/Essential Criteria

  • Experience of banking or financial market operations
  • Experience in the management or governance of data or analytics
  • Good analytical ability; able to cut through material to identify the problem and seek out potential solutions that are workable for M&B. You need to be able to uncover meaningful information and synthesise this into practical next steps and solutions.
  • Good interpersonal skills when handling a wide group of contacts, including at a senior level. That requires being confident in explaining our approach, assertive in requesting appropriate input, and not being afraid to challenge business areas as appropriate.
  • Adapt and be flexible, tailoring your approach to the particular issue in question and the relevant audience.
  • Problem solving. You will need to analyse and problem solve, making practical recommendations on moving forward.



We anonymise applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.

The closing date for applications is 30 June 2021.

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.

Reward Package

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 and wellbeing initiatives.

The salary range for this vacancy is £35,700 - £41,500, dependent on relevant skills 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.
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