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Project Analyst (Operational Readiness), Banking Payments & Innovation (18 month opportunity)

Bank of England.
Closing date
14 Jul 2021

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Clearance Level
DV, SC, None / Undisclosed
Job Type
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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. 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.

Role Summary

We are looking for motivated and proactive individuals to take up the role of Operational Readiness Analyst on an extensive programme of work at the Bank of England.

The Analyst role primarily involves supporting the Project Manager in the delivery of Operational Readiness project, through direct responsibility of specific deliverables, such as the management and execution of programme communications, execution of the Transition Readiness Plan and co-ordination of programme assurance activities. The role is ideal for anyone interested in developing a career in Project Management, especially those with an operational or PMO background.

ISO20022 Programme

The payments industry is undergoing transformational change and ISO 20022 is at the heart of this. ISO 20022 is an internationally recognised standard for payment messages that will transform messaging standards globally.

RT Renewal (upgrade to the core of the UK's High Value Payment system) is a strategic priority for the Bank and this includes introducing ISO 20022 messaging into domestic CHAPS payments. SWIFT is also coordinating the migration of cross-border payments to ISO 20022 and phasing out the existing payment messages.

The Bank has set up a separate ISO2002 programme for the Bank, acting as the 'bank' within the Bank, as a SWIFT user and a direct participant in CHAPS, it must enable ISO 20022 messaging in its own customer banking activities and for payments undertaken as part of its own official operations.

Detailed role description

The Operational Readiness Analyst will work on the Operational Readiness Project within the ISO 20022 Programme and will work closely with the Project Manager on the day-to-day running of the Project.

The size and nature of the Programme means that each day is different. We work in a fast paced and changing environment, and individuals should be comfortable with this level of flexibility. As such, the successful individual will need to be able to work independently and use their initiative where required.

Project Co-ordination

Support the Project manager in the day-to-day running of the Project, including :
  • Co-ordinate project activities in line with the project plan (escalating any problems to Project Manager)
  • Monitor project progress and update relevant reporting documentation (such as Project Plan, status report)
  • Maintaining the Project Risk Log and Managing Risks (with support of Project Manager)
  • Running team meetings and working groups

Internal Communications
  • Own and develop the comms plan, including presenting progress updates where required.
  • Co-ordinate the execution of the comms plan, arranging project updates in a range of formats, such as newsletters, presentations, briefings.
  • Work with Programme stakeholders to prepare comms material, taking into account the needs of the audience.

  • Co-ordinate programme assurance events, including logistics and involvement of colleagues across the Programme.
  • Support PM in completion of assurance documentation and liaise with relevant stakeholders to secure sign-off
  • Track and manage inputs and outputs, including securing action plan for mitigation

Transition Readiness
  • Manage the Transition Readiness Plan
  • Co-ordinate Readiness Activities, such as Operational Risk, Transition Runbook, Schedule of Events

Job Requirements (Essential)
  • Active experience in Project Business Readiness activities (eg. communications, training, operational risk) and/or Technical Readiness planning (eg. Implementations, Go-Live governance)
  • Strong organisational skills, with the ability to manage multiple deliverables and prioritise accordingly
  • Strong communications skills (verbal and written)
  • Basic stakeholder management experience and the ability to differentiate between stakeholder groups and their respective communication needs
  • Ability to work independently and use initiative

Job Requirements (Desirable)
  • Interest in Project Management
  • Understanding of risk management and experience in mitigating risks
  • Ability to identify areas of improvement
  • Experience working in a fast paced and/or challenging environment

We anonymise applications so hiring managers will not be able to see your personal information such as name and address when reviewing your submission, including your CV. Please complete work history and the application form questions as requested because incomplete submissions may not be reviewed.

We take pride in our people, with backgrounds and experiences as diverse as the solutions they provide. You'll enjoy flexible working opportunities, a strong sense of community and well-being, and a collective mission to promote the good of the people of the UK. All of which add up to make the Bank a hugely rewarding place to work.

The closing date for applications is 5th August 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 £45,900- £55,350, 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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