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Analyst, Collateral Operations Review Team, Market Services Division

Salary

According to experience, plus excellent benefits

Introduction

This role sits within a team which will simplify and harmonise the Bank of England’s approach to collateral management. For those who enjoy a combination of thinking and doing it offers a deep insight into these critical functions, which lie at the heart of the Bank’s official operations.

Background

The ability to lend to the market, and to protect the Bank by taking good quality collateral, lies at the heart of the Bank’s official operations. The settlement of those operations, and the management of collateral held by the Bank, takes place within the Market Services Division of the Banking Services Directorate. One of the Division’s key objectives is to introduce greater flexibility in the area of collateral management and to continue to strengthen and improve both processes and IT.

Working with others in front and back office and with external counterparties, and drawing on examples from other central banks, the team will identify how the Bank’s back office operations could be harmonised, simplified and adapted, and make recommendations to senior management.

The Review will report to the relevant Executive Director, and will take around a year to complete. The outcome will be a major business and IT project. During this business/policy analysis phase, members will make a major contribution to the development of operational policy and business analysis in this critical part of the Bank’s official operations.

The Job:

The key responsibilities are:

• Contribute to the development of policy and business analysis in relation to collateral operations and management.
• Liaise with business and operations staff to understand the range of contexts in which the Bank takes collateral and describe, including through process mapping, the range of ways in which it does so.
• Identify drivers for existing processes and policy and business consequences of harmonising and simplifying those operations.
• Contribute to communication and discussion of objectives and options with stakeholders inside and outside the Bank.
• In latter stages, draw up statements of user requirements to inform project submissions and IT development work.

Skills/competencies required:

• Experience of collateral management or similar operations gained in a commercial bank would be desirable.
• But most important is experience gained in roles in either an operational or a policy environment which require a combination of thinking and doing.
• Strong analytical skills are important. The applicant will be of graduate calibre.
• The person will also enjoy working on their own initiative. They will have experience of and will feel comfortable dealing with a wide range of junior and senior people in the Bank and in the Bank’s market counterparties.
• The ability to demonstrate strong representational and communication skills is important.

To apply please click here.