Lead Policy Analyst in SMD Operational Policy, Markets

The Applications team is responsible for managing the pipeline of firms wanting access to the Bank's sterling market operations. This involves interacting with a wide range of internal and external stakeholders as part of onboarding firms. In addition to managing the pipeline the team develops access policy by considering what types of firms should have access to the SMF. The team also input into the design of new lending facilities, with a particular focus on the onboarding life-cycle. This is an exciting time for the team as it plays an important role shaping the onboarding approach for the new Contingent NBFI Repo Facility (CNRF). Job DescriptionThis is an exciting opportunity to join the SMD Applications Team which is part of the broader SMD Operational Policy team. The role is hugely varied and offers a mixture of operational and policy work. The lead policy analyst's role will typically involve:

• Oversight of the applications process / pipeline, supporting the team in managing the pipeline of firms. This includes leading meetings and managing relationships with a range of external contacts.
• Contributing to the design and implementation of new lending facilities, playing a leading role with regards to the onboarding lifecycle.
• Leading policy analysis, such as shaping our eligibility policy on which types of firms have access to the SMF.
• Proactively identifying and encouraging continuous improvement ideas on the team to improve efficiency and reduce operational risk. Leading on the implementation of change initiatives that impact the team's processes.
• Supporting the team's and division's operational responsibilities. This will include ensuring that SMD can fulfil its role in the creation and publication of the SONIA benchmark. You will also be part of the division's "split-site working" rota helping to cover end of day processes occasionally from home or the office.
  
  Experience of managing multiple different work priorities at the same time, escalating issues where appropriate.
• Analytical / problem solving skills, including the ability to draw out key points and make practical recommendations.
• Interpersonal and communication skills (written and verbal), including being comfortable engaging with a wide range of internal and external stakeholders.
• Team player - working collaboratively with others to share knowledge and a willingness to pitch in including in work that is outside of your normal remit if needed.
• A keen interest in Wellbeing and/or D,E&I initiatives.
• Experience of using Excel, although you do not need to be able to code in order to do this role.
Desirable Criteria
• Experience of delivering effectively through others or mentoring / coaching.
• Knowledge of the Bank's Sterling Monetary Framework and how the Bank uses its balance sheet to implement monetary policy, or the ability and desire to develop this knowledge quickly.
Our Approach to InclusionThe 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 InformationWe encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.

Sterling Markets Division (SMD) is responsible for the Bank's sterling operations. We sit at the heart of the Bank's role in implementing monetary policy and financial stability. We run operations that help to transmit Bank Rate to the economy and sell gilts from the Asset Purchase Facility according to the requirements of the Monetary Policy Committee (MPC). The Bank's Sterling Monetary Framework (SMF) provides liquidity support to the banking system through our lending operations. And we administer the calculation and publication of the SONIA financial benchmark, and contribute to wider market intelligence gathering and analysis to help support senior decision-makers. This is an exciting time to join SMD. With the programme of 'quantitative tightening' already underway and the TFSME funding scheme unwinding, the Bank's balance sheet is shifting to be smaller with less liquidity available for firms. SMD is already working closely with the Future Balance Sheet Unit (FBU) to help define how our operations will need to change in this changing world, and to make sure we're ready for that. We're also involved in initiatives like the development of digital currencies and the transformation of the RTGS system. We place a strong emphasis on diversity, equity and inclusion, and personal wellbeing.

Leeds from £47,430 - £54,720London from £52,730 - £60,840 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.
• 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.