Banking and Securities Operations Manager in RTGS Operations

at  Bank of England

BACKGROUND

The Real-Time Gross Settlement (RTGS) service – operated by Payments Directorate – is the backbone which underpins all financial transactions in the UK and is essential for the functioning of the economy and the implementation of monetary policy and financial stability. It holds accounts for banks, building societies, financial market infrastructures, non-bank payment service providers and provides sterling settlement services for Bacs, CHAPS, ICS (cheque clearing), CREST, Faster Payments (FPS), LINK, Mastercard, Visa and PEXA.

ROLE AND RESPONSIBILITIES

The role holder will be responsible for the oversight and leadership of the RTGS operational team, to ensure the safe and efficient operation and change management of the RTGS/CHAPS service and business continuity in the event of operational or technical disruption to the services provided.
You will encourage an environment of continuous improvement and learning, ensuring process optimisation and risk mitigation.

You will have input to strategic decision making and shaping of payments policy in support of the Head of RTGS Operations and the rest of the Payments executive team.

• Responsible for a large team of operational specialists and business analysts working alongside Technology analysts within the RTGS Control Centre. You are responsible for high-level decision making and defining roles and responsibilities of the team. You will develop your direct reports through sharing information effectively, coaching and communicating a clear vision to ensure that staff are productive, engaged and motivated to deliver the directorate’s aims. This will include setting clear goals and smart, stretching objectives that are aligned to those of the overall strategy.
• You will lead any incident related to the live service, be responsible for invoking our local Bronze response and act as ‘Recovery manager’,and work closely with the communications team (‘Response manager’) to ensure timely and accurate updates to key stakeholders. You must be capable of responding to any incidents related to the live service in a calm and pragmatic manner.
• The role holder will develop effective working relationships with external and internal counterparts, representing the Bank on a range of policy and operational matters. This includes but is not limited to, Technology, SWIFT, EUI, Pay.UK and others as required. You will present regularly to the division’s senior leadership team to keep them updated on key operational matters that support the strategic priorities for Payment Operations. This engagement responsibility extends to external representation at operational working committees.
• You are a subject matter expert for the team, with particular focus in certain topics to provide challenge and support on behalf of the wider division. You will use this expertise to work with other managers and senior managers within Payments Directorate to set policy and strategy. You will embed a culture of continuous improvement within the RTGS operational team, removing waste, ensuring ‘single source of truth’ and ‘one best way’ for processes.
• You are responsible for planning, documenting and executing testing of plausible scenarios that could cause disruption to the RTGS service, this links to operational resilience testing and contingency testing with participants.
• You will line manage and work with the Operational Resilience Manager to ensure that the full suite of contingency tests are executed with our internal and external stakeholders in accordance with audit and regulatory requirements. You will be responsible for ensuring that all associated documentation remains up to date, including the RTGS/CHAPS asset map.
• You will be responsible for business user acceptance testing (UAT), and will manage a group of people who perform this role for RTGS/CHAPS. This will require close coordination with the RTGS Change & Planning Office and Technology teams to ensure adequate resourcing and robust scheduling, high-quality test execution based on realistic scenarios, and strong issue resolution.
• You represent the Head of RTGS Operations in their absence at internal and external fora.

This role offers an annual salary of £70,900 . 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