Location: Leeds Directorate The Payments Directorate sits at the heart of the UK's financial system, playing a critical role in delivering the Bank's mission. We design and operate the Real-Time Gross Settlement (RTGS) service and CHAPS, the UK's high-value payment system. RTGS ultimately lies at the heart of every electronic payment in the UK and settles over £800 billion on an average working day. The directorate leads on policy and innovation for our Payments services and helps shape the broader payments landscape, both domestically and internationally. Drawing on our expertise in innovation and delivery, we are now embarking on a programme to enhance the new RTGS 2 platform, enabling the UK financial sector to innovate while ensuring safe and efficient settlement in central bank money. Our work connects us closely with many other areas of the Bank. As one of the most outward-facing and fast-paced directorates, we offer a dynamic and impactful environment to work in. Role Overview You will join the Product Initiative Team, which works across the RTGS product landscape to explore, shape and define the next generation of RTGS services before they move into delivery. The team conducts discovery work, high-level design, policy analysis, user research and industry co‑creation to ensure new features are well understood, strategically aligned and ready for build. You will lead on - or contribute significantly to - one or more of the Bank's priority future RTGS capabilities (e.g., extended settlement hours, synchronisation, resilient access channels, ISO strategy), and on other smaller topics coming to the Product Team after early conceptual thinking. Your work will create the foundations for delivery teams, providing a clear product vision, high-level requirements and strategic rationale. This role suits someone who can blend policy thinking, product strategy and user-centric design into concrete recommendations and clear direction. Day-to-Day Responsibilities Strategic Planning & Roadmap Shaping Lead the early-stage discovery, analysis and design of future RTGS capabilities for the Bank's long-term roadmap, picking these up after early stage conceptual thinking. Own the Initiative Team view of future requirements, shaping proposals before they move into delivery backlogs. Provide clear, evidence-based product recommendations that inform senior decision-making and prioritisation. Develop artefacts that underpin delivery readiness (business cases, option analysis, discovery reports, high-level requirements). Product Leadership & High-Level Design Translate abstract strategic ambitions into coherent product concepts with clear user value and business benefits. Define high-level user journeys, service propositions and functional boundaries. Ensure cross-product and cross‑directorate impacts are understood and considered in design decisions. Work closely with delivery-aligned Product Managers and Product Owners to hand over well-shaped, actionable requirements. Analysis & Discovery Conduct research, user interviews, data analysis and industry co‑creation to validate assumptions and refine product direction. Lead or contribute to public consultations, policy statements and engagement papers where relevant. Work closely with other internal teams (including Policy) to commission relevant work required to operationalise the proposition. Governance, Risk & Assurance Provide clear recommendations to governance forums, senior stakeholders and committees. Ensure risks, constraints and trade-offs are clearly articulated. Monitor external developments and ensure designs remain robust, proportionate and future‑focused. Stakeholder Engagement & Communication Act as a central engagement point for external industry stakeholders during discovery. Build strong collaborative relationships with internal colleagues across directorates, especially: in the wider Payments Directorate (Policy, Technology and Operations); and with the Markets, Payments Innovation and Fintech, and Financial Market Infrastructure directorates. Communicate complex or technical concepts in a compelling and accessible way. People Leadership Lead and develop analysts and contributors within the Initiative Team. Model a collaborative, learning-focused and user-driven culture. Minimum Experience Strong experience in product discovery, strategy, policy development or early-stage design in complex organisations. Proven ability to lead high‑quality analytical work and shape product or policy direction. Experience bringing together business, policy and technical perspectives to shape future change. Familiarity with agile product development and discovery processes. Essential Skills Excellent written and verbal communication, able to translate complex policy/technical concepts for diverse audiences. Strong strategic thinking and analytical skills. Ability to influence others and build consensus across a wide stakeholder group. Organised and able to manage multiple evolving priorities. Confident in leading teams and shaping the work of others. Desirable Criteria Understanding of RTGS, payment systems or financial market infrastructure. Experience in discovery or experimentation with innovative technologies. Experience in product or policy roles in a public sector context. Awareness of developments in digital money and payments innovation. This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness. Number of direct reports: TBC dependent on candidate (likely 1-2) 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. Leeds salary £65,440 - £73,620 per annum In addition, we also offer a comprehensive benefits package as detailed below: Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time. A discretionary performance award based on a current award pool. An 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. This role closes at 23:59 on xxxxxxxx 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. 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.