• Job Description

  Req#: 22319
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  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.

  The Markets Directorate promotes monetary and financial stability by leading the Bank's market operations, and by using our presence, expertise and influence in financial markets to inform and shape the Bank's policy decisions and priorities.

  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 Markets Directorate manages the Bank’s balance sheet. It designs and runs market operations in sterling markets and handles the United Kingdom’s foreign exchange reserves on behalf of HM Treasury. It is a centre of expertise on financial markets for the Bank.

  The Market Intelligence & Analysis Division (MIAD) leads on a significant part of the Directorate’s analytical and research outputs. We are uniquely situated in the Bank’s dealing room and maintain a network of financial market contacts. We combine data analytics, economic modelling, research and market intelligence to influence policy makers on MPC and FPC. We work on the design of the policy tools required to implement the Bank’s mission through financial markets. Staff in MIAD work closely with colleagues in other directorates (including Monetary Analysis, Financial Stability Strategy and Risk, International, Prudential Policy and the PRA).

  Within MIAD, the Market Intelligence Delivery Team (MIDT) supports the Bank’s Market Intelligence (MI) mission. Market Intelligence is information collected from an extensive global network of contacts to improve the Bank’s understanding of the international and domestic financial markets in which it operates, and to inform its monetary, financial stability and supervisory policy decisions.

  We ensure that MI is focused, relevant, analytically thorough, and disseminated to maximise its impact. As well as collecting MI ourselves, we:

  • Coordinate financial market monitoring;
  • Develop and monitor rolling priorities for MI, based on consultation with MI teams, and interested colleagues and customers around the Bank.
  • Support MI teams and gatherers in Markets. As part of this, we ensure that staff are well trained and prepared to talk to contacts in a manner which mitigates the inherent risks.
  • Arrange and run forums to promote MI outputs, and debate and discuss market developments in an open and inclusive way.
  • Actively work to increase the diversity of our MI contacts, including through the Meeting Varied People (MVP) initiative.
  • Support the Markets Executive Director with their MI interactions with senior market contacts from around the world, through Horizon Rounds in London and internationally.
  • Provide briefing on current financial market themes and conditions, to policy committees and other senior colleagues. We also talk to external organisations, including HM Treasury and the New York Fed to brief them on market news, and exchange insights gained through MI.

  Job description
  

  An exciting opportunity has arisen for an Operational Analyst to join the MI Delivery Team within the Market Intelligence & Analysis Division in Markets. The role holder will support the Bank’s MI function through a wide variety of tasks to ensure effective and impactful delivery of MI for stakeholders across the Bank, working directly with the c.150 staff engaged in MI gathering and ensuring the infrastructure and processes for MI gathering work effectively.

  The primary role of the MI Delivery Team is to enable effective delivery of MI across the Bank, by supporting, developing and implementing the strategies critical to the delivery of MI. To help achieve this, the jobholder will be expected to:

  • Coordinate the market intelligence training and certification programme.
  • Develop management information on the Bank’s MI activity with a focus on enhancing ways to capture the impact of market intelligence outputs, subscription levels and other operational metrics.
  • Maintain the market intelligence infrastructure such as distribution lists, the MI intranet, and Bank Exchange.
  • Help implement processes and consider ways to make improvements to the way we work, working with others in Markets and across the Bank as appropriate to deliver a programme of operational enhancement.
  • Keep documentation of MI processes and policies up to date.
  • Support the MIDT Operations Manager with divisional work on operational risk, compliance, and business continuity.
  • Support key internal meetings / forums e.g. our programme of seminars and teach-ins, including the market surveillance meeting.
  • Be responsible for the MI Gathering Policy and lead its annual review.
  • Support briefing activity which the team leads for EDs and other senior stakeholders, and support the MI contacts manager for teams’ own MI activities.

  This is an exciting role within the Markets directorate to get greater exposure to the Bank’s interaction with financial markets, with scope for the jobholder to shape and expand the role over time, and to align with their broader career interests, whether that be financial market-based or project management/ risk/ operational roles.

  There are opportunities for stretch within this role. For example, the jobholder could, once established across the core responsibilities of the role, become an MI gatherer and contribute to MI by joining an MI team, or for the role holder to learn about and actively contribute to considerations around market intelligence within the Bank’s operational risk, resilience, and compliance framework.

  Role Requirements
  

  
  
  Minimum (Essential) Requirements
  

  Strengths in the successful candidate will include:

  • An interest in developing financial markets knowledge OR developing into a more operational role.
  • Good level of IT skills, particularly in Microsoft Excel.
  • Ability to follow-up on operational issues proactively to support their resolution.
  • Evidence of strong organisational skills, with an ability to work independently on various workstreams at the same time, being able to juggle and prioritise a varied task list.
  • Track record of working efficiently and accurately to often tight and changing deadlines
  • Strong communication and interpersonal skills to support frequent interactions with staff of varying levels of seniority across the Bank.

  Desirable Requirements

  • The job would be well suited for a candidate with a desire for career progression into a more analytical or operational role, as it can provide varied opportunity for stretching work.
  • Knowledge of coding in R/ Tableau (or a desire to learn) would also be helpful, though is not essential.

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  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

  This specific role offers a base salary of circa £28,810 - £32,000 per annum (depending on skills and experience) on a full-time basis. 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.

  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. (Note that from April 2023 and for the Benefits year 2023/24).
  • 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 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 closing date for applications is 19th October 2023.

  The assessment process will comprise of two stages.

  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

• About the company

  The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based.

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