Senior Operational Analyst

An exciting operational analyst opportunity has arisen in the Controls team, where the core focus is reconciliations and control.

The team currently consists of six people, and although your key responsibilities will be tailored around that, you will also engage more widely across the team and the division, leading and supporting a variety of control and operational excellence initiatives.

You will engage with a number of stakeholder teams, work alongside front to back-office teams across the Markets, Banking and Finance Directorates, and gain an in-depth understanding of how the Bank's trading, banking and settlement systems integrate into the core financial reporting systems.

This is critical to the team as it plays a key role in the team's core operations (financial controls/reconciliations) and support of senior analysts.

Assessment of controls and ongoing improvements are fundamental to the team's quality assurance ethos, and you will be involved in reviews of end-to-end process flows and will take a lead role in delivering change such as M&B change initiatives. Through detailed analysis you will demonstrate a good understanding of the subject matter by incorporating fundamentals of the control framework and where applicable identify ways to mitigate control lapses and risks.

If you are an upbeat and hardworking individual looking to develop your skill set across a range of skills, this is the ideal opportunity where you will build hands-on experience learning about financial products and associated controls, and ample opportunities to be part of building a resilient team., This operational analyst role will be varied and weighted towards supporting the team's controls. Responsibilities include:

• Playing a key role in the successful completion of the team's core controls and reporting


• Producing regular reporting; including weekly reconciliation report, incident management reporting etc, and opportunities to review the current processes and make improvements


• Producing analytical pieces of work, including operational risk assessments, incident reviews and ad-hoc analysis to support the team's risk management function


• Leading and contributing towards projects and change initiatives, which impact the team's functions
  
  A good understanding of financial products and customer banking; together with an obvious interest in the Bank's operations and how we support them operationally


• A good understanding of financial controls and an appreciation for the integrity of financial data and reporting


• An ability to synthesise complex issues and to communicate them to senior stakeholders in an understandable way


• Good interpersonal skills and ability to develop relationships with a wide range of stakeholders


Essential Criteria

• A strong focus on providing customer service and meeting the needs of key stakeholders


• Proficient user of Excel comfortable with lookups, basic macros, IF functions etc. and other Microsoft suite of applications


• Previous experience working in a control environment including using a reconciliation system


Desirable Criteria

• An interest in working in a control environment with great attention to detail, high quality standards and an appreciation for operational excellence and efficiency


• A good teammate with an ability to influence and develop other team members and contribute to a positive team atmosphere


• A proactive approach, good organisational skills, highly motivated and capable of working autonomously often to tight deadlines by prioritising effectively


• Knowledge of data analytics and visualisation packages (e.g. Tableau/R) would be an advantage
  
  Here at the Bank of England, we have been at the centre of the UK economy for more than 300 years. We're a public body and our work affects everybody. It's hard to capture all we do in one place but here's a good start. We print secure bank notes and oversee many of the UK's payment systems, ensuring people can pay for things easily and safely. We set interest rates to maintain price stability, and regulate high street banks, building societies and insurance firms to maintain confidence in the financial system. Alongside looking after the UK Economy now, we're also looking to the future. Be it shaping and delivering the future of payments or working to help the UK proactively manage the risks of climate change., Markets, Banking, Payments & Resolution (MBPR) is one of four Deputy Governorships in the Bank and plays a critical role in the Bank's mission. MBPR consists of five directorates (Markets, Banking, Payments, Resolution and Strategic Change & Operations). Middle Office sits within the Strategic Change & Operations Directorate, The Operational & Financial Control (OFC) team sits within the Bank's Middle Office. Middle Office is responsible for managing and controlling end-to-end business process and data flows in relation to all Markets & Banking operations. Its core activities relate to pricing and valuing on and off-balance sheet positions, managing the Bank's collateral and counterparty related data, and ensuring an effective operational and financial control framework. Its three main teams are structured around those three areas.


OFC operates many of the Bank's financial controls and provides assurance over the assets and liabilities resulting from the Bank's market and banking operations. The control environment requires the team to engage in and understand the full end-to-end system and operational processes. This then helps to develop a good knowledge across the Bank's operations and its risk and control frameworks.

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. This role offers a salary of circa £40,000-£45,000. 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.