Location: Leeds
Overview
The Bank's Banking Directorate supports the Bank’s mission to maintain monetary and financial stability by providing services to support market operations and strategic customers. We develop and operate resilient and efficient banking, payment, settlement and custody services, and work with a wide range of internal and external stakeholders to achieve our aims.
The Central Banking Operations Division (CBOD) handles all collateral management and securities settlement operations that support the Bank’s official market operations (including the Sterling Monetary Framework and Asset Purchase Facility), the management of the Bank’s and the UK’s foreign currency reserves (the Exchange Equalisation Account) as Agent on behalf of HM Treasury, and services provided to customers including the Debt Management Office (DMO) and foreign central banks.
The Opportunity
We are expanding our operational policy team to increase horizon scanning, market intelligence, and analytical/policy support capabilities. There are significant external developments planned over the coming years that may impact our operations or require policy input, including T+1, digital collateral, and CREST modernisation. We are looking for a manager to lead – and line manage – the team that will take this work forwards.
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 staff are productive, engaged and motivated to deliver the area’s aims. You will also be responsible for managing staff-related matters including performance, absence and sickness. Number of direct reports: 3.
Role Description
We are looking for a manager to lead the operational policy function for CBOD. Working alongside our existing SCOR Programme team and operational teams, you will be responsible for:
* Leading the team’s portfolio of operational policy work to understand how we adapt our collateral management, custody and settlement operations to developments and initiatives. For instance, use of distributed ledger technology to issue digital bonds, which we may wish to accept as collateral in the future. You will work with a wide range of internal (e.g. Markets, Customer Banking, Financial Market Infrastructure, Technology, Legal) and external (e.g. global custodians, digital FMI providers, technology vendors, HMT/DMO) stakeholders to identify pragmatic solutions that meet business requirements within risk appetite, control framework and budget.
* Overseeing the team’s horizon scanning work, including horizon scanning rounds, external intelligence updates, and in-depth reviews of specific topics. You would ensure outputs are concise and clearly identify the potential impact on operations, and oversee engagement with other areas of the Bank with overlapping interests. You will broaden engagement to external suppliers (including custodians and FMIs).
* Working with the Securities & Collateral Operations Review project to define the future (2027 onwards) CBOD Target Operating Model, particularly for a permanent operational policy function’s operating model and resourcing needs.
* Line management responsibility for three policy analysts (currently).
Minimum criteria
* Experience and knowledge of at least one of: the Bank’s Official Operations, the Bank/EEA FX Reserves operations, current developments in securities and collateral markets, or the securities/collateral/FMI regulatory environment.
* Ability to develop collaborative working relationships with a wide range of internal and external partners at different levels of seniority.
* Excellent workload management skills with the ability to prioritise competing deadlines with relatively little oversight.
* Strong problem-solving skills, including creative thinking and challenging preconceptions.
* Experience of line management with an inclusive approach, developing talents, and coaching junior staff in tackling complex topics.
* Excellent written and oral engagement skills with the ability to produce high-quality outputs that influence senior decision making and explain complex topics to a wider audience.
Desirable criteria
* Experience and knowledge of more than one area from the minimum criteria list.
* Experience with policy, business and/or system change projects.
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We aim to create an inclusive culture that supports people from all backgrounds and communities to be at their best at work. We welcome flexible working arrangements and adjustments in recruitment where needed. For many roles, work can be carried out partly from home with a minimum in-office presence; specifics should be agreed with managers. We are a member of the Disability Confident Scheme and comply with relevant accessibility requirements. If applying under the Disability Confident Scheme, indicate this in the application.
Salary and Benefits Information
Location: Leeds
This role offers a salary of circa £65,440 - £73,620. We encourage flexible working, part-time arrangements, and job shares. Benefits include:
* A non-contributory, career-average pension with a guaranteed retirement benefit of 1/80th of salary for each year worked, with optional adjustments under the flexible benefits programme.
* A discretionary performance award from the current award pool.
* An 8% benefits allowance with options to take as salary or use for flexible benefits.
* 26 days’ annual leave with the option to buy up to 12 additional days.
* Private medical insurance and income protection.
National Security Vetting Process
Employment in this role is subject to National Security Vetting clearance (typically 6–12 weeks post offer) and additional Bank security checks. Details on vetting and data handling are provided in the Bank’s Privacy Notice. The Bank is a UKVI-approved sponsor; sponsorship eligibility is assessed case by case.
The Application Process
Important: please complete the ‘work history’ section and answer all application questions fully. Applications are anonymised at screening to protect personal information. The assessment process comprises two stages. This role closes on 6 October 2025. Please apply online and ensure all mandatory questions are fully completed to be considered.
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