Market Operations Technician

Middle Office which sits in SCO has four main teams: Counterparty & Collateral Operations (CCO), Operational Financial Control (OFC), Pricing Policy & Valuation (PPV) and the EDM Support Team (EST). The Middle Office team sits in the heart of the Bank's financial operations in supporting the Markets Front Office and Risk Management functions and systems, including links through to Back Office and external counterparties. The Collateral & Counterparty Ops (CCO) team manages the eligibility of balance sheet and collateral assets including loans and the application of haircuts, whilst also being responsible for how counterparty and instruments data are stored in Markets' systems. The Pricing Policy & Valuations (PPV) price all eligible collateral each day. Both teams use the EDM system on a daily basis, the EDM Support Team (EST) within Middle office mainly aims to support CCO and PPV with their use of EDM. EST also manage Middle Office system change and other EDM related activities (e.g. a recent EDM Upgrade Project) by being the primary liaison team between Markets, DSID and Technology., Markets is a dynamic and fast paced area and, as a result, the job holder will have exposure to high profile projects in addition to their regular work. EDM is a critical system for Middle Office/Markets to deliver on their strategic aims and with EST being a relatively small team, the jobholder will be required to understand the business requirements and then assist technology stakeholders through the development cycle. Once knowledge of the EDM system grows, the job holder could potentially convert business requirements into technical requirements to help make the change process even more efficient. A large part of the role on EST is managing general change. The jobholder will need to help prioritise change between the CCO and PPV teams as well as taking into consideration the wider Markets and Banking areas. EST regularly liaise with the DSID Team (EDM system owners) inputting into the overall change programme, often assisting with testing and other areas of the change process. Below are the main areas of responsibility for the EST team:

• Change Management - We are currently loosely following an Agile change model.
• Incident Management and Resolution - initial triage of issues raised using system knowledge where possible.
• EDM Project Change Management - lead and oversee on Markets related projects, organising test systems for CCO/PPV as well as managing test cycles and plans to help project to remain within agreed timelines.
• General EDM improvement Change Management and impact analysis- EDM is an enterprise system, EST need to keep abreast of system changes to assess potential impacts on Middle Office users and processes; and associated risks. Provision of technical expertise and testing support may be required. There is a constant programme of EDM change and the EST Team play an important role in assessing the nature of changes across the system, with the system owners, and identifying potential impacts on Middle Office data and processes. For Markets related change, some change may benefit from EST testing etc.
• Identify and implementation of EDM and/or change process improvements - Continuously seeking to make the system and/or processes more efficient.
• Management Information - Support the key operations of the team, spotting trends and anomalies in the data where appropriate.
• Requirements analysis - Supporting CCO and PPV on the articulation of business requirements and where possible, convert these into technical requirements.
  
  Experience of working to tight deadlines with the ability to manage your own workload and effectively prioritise tasks
• Attention to detail with the ability to deliver outputs to a high standard
• Experience of coordinating large change initiatives or projects, including the ability to identify and implement improvements
• Strong interpersonal skills to interact confidently with other teams and directorates at junior and senior levels, including externally
• Strong IT skills and a proven track record of learning new processes and systems
• Some knowledge of the Bank's financial market operations would be an advantage
• Experience of creating and/or reviewing test plans/outputs
Essential Criteria
• Exceptional organisation skills
• Proactively pushing to complete workstreams by chasing relevant areas/people when necessary
• A team player, willing to help others to achieve results
• An interest in the Bank's market operations and how we support them
• Experience in working and liaising across different areas in the organisation, and the ability to demonstrate effective communication across multiple divisions and engage with senior stakeholders
• An intuitive ability to identify and understand our risk and controls, challenging where things look wrong to drive improvements
• An ability to work on multiple work streams, prioritising effectively and often to tight deadlines
• Have excellent interpersonal skills and have experience engaging with stakeholders and influencing outcomes
• Have a good understanding of business change and the related development life cycles. Also an understanding of the practises and concepts around collating data for change (e.g. prioritisation of CRs etc)
• Proven track record of looking beyond just the 'button pushing' of processes, have a keen interest in the 'how' and 'why' around how our systems work and support MO business processes.
Desirable Criteria
• Ability to read and understand simple code (e.g. SQL)
• Experience of S&P EDM system (previously IHS Markit)
• Knowledge of Government and/or Asset Backed Bonds (Fixed Income)
  
  The Strategic Change & Operations (SCO) directorate is central to the success of MBPR. With around 140 staff, it undertakes the management and control of end-to-end business process and data flows in relation to market operations; works to devise and implement the operational strategy for MBPR and takes the lead on cross-divisional issues relating to: operational resilience; change delivery; business planning and oversight; challenge and mitigation of operational risk; people strategy including promoting diversity and 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.

This specific role offers a base salary range of £30,320 - £34,110 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.
• 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