The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

Department Overview

Banking, Payments and Innovation Directorate (BPI) supports the Bank’s mission to maintain monetary and financial stability by using and sharing its expertise to: develop and operate resilient and efficient banking, payment and custody services; set and influence policy; and to promote innovation.

We are at the heart of the Bank both in terms of our core role in Monetary and Financial Stability, and the wide range of internal stakeholders we collaborate with.  BPI has a lead role in one and a meaningful role in four of the Bank’s strategic priorities. The variety and immediacy of the work we do means we are one of the most outward facing and fast paced areas of the Bank, operating the UK's high value payments system (the Real Time Gross Settlement System and CHAPS), maintaining the Bank’s readiness to provide Emergency Liquidity Assistance to banks and other financial institutions, and acting as the 'bank' within the Bank of England for government, UK CCPs and other central banks.

The payments industry is undergoing transformational change and ISO 20022 is at the heart of this. ISO 20022 is an internationally recognised standard for payment messages that will transform messaging standards globally.

There are two areas of change in relation to ISO 20022. RT Renewal is a strategic priority for the Bank and is introducing ISO20022 messaging into domestic CHAPS payments. SWIFT is also coordinating the migration of cross-border payments to ISO 20022 and phasing out the existing payment messages.

ISO 20022 Internal Readiness Programmme

Under the ISO 20022 Internal Readiness Programme the Bank must enable ISO 20022 messaging in its capacity as a CHAPS direct participant; in its own customer banking activities; and for payments undertaken as part of its own official operations.

 The Programme is divided into 5 Delivery Phases: CHAPS payments transitioning to the new MX format with like-for-like schemas; SWIFT’s migration to ISO 20022 for Cross Border payments; CHAPS transition to enhanced MX schema with enhanced data; supporting a new core ledger as part of RT Renewal; and, enabling internal systems to send Cross Border payments and use the associated enhanced schema.

Job description

The ISO 20022 Programme’s Business Delivery Team require an additional Analyst for a 23 month Fixed Term Contract  to support the Bank’s transition to the new ISO 20022 messaging standard. This is a significant, complex and exciting programme, giving rise to an outstanding opportunity to work at the forefront of the changing payments landscape.

The role has a broad responsibility to work across a number of work streams to ensure solutions meet the business requirements and benefits, while working within the project time, cost and quality constraints.

You will report to a senior analyst.  You will work collaboratively with other analysts within the Business Delivery Team; all key stakeholders within the programme team; with impacted business areas; as well as with other projects within the Bank.

Responsibilities will include:

Alongside others on the team:

• Collaborate with Technology Business Analysts to detail together clear and accurate business requirements.
• Impart knowledge of ISO 20022 and related business processes across BPI and other Directorates so the business users have the systems, knowledge and business processes ready to support the migration.
• Craft and develop training materials on business process and system changes, and craft communications to internal stakeholders to explain the impact on business teams.
• Engage with external customers, resolving questions raised about the schemas and how that applies to their payments. 
• Provide support for User Acceptance Testing, including triaging of issues raised.

What you can expect to get from the role:

• Experience of working on high profile, fast paced, sophisticated projects
• Become a subject matter expert in ISO 20022 with transferable skills across the banking sector

Role Requirements

Minimum Criteria

• Good understanding of SWIFT messages (current MT 1, 2 and 9 category messages)
• Able to take ownership of tasks and deliver with minimal intervention from management
• Strong analytical skills. Need to digest complex payment market information schema rules and understand the impacts on business areas
• Good ability to build rapport and nurture relationships with business areas. Present complex issues in an easily digestible format to range of audiences.
• Good interpersonal skills. Able to develop and build relations with a variety of internal stakeholders
• Strong workload management skills to balance a wide variety of work with differing timetables, whilst delivering high quality outputs
• An awareness of the IT systems used within transaction banking

Desirable Criteria

• Previous knowledge of working in an operational payments area and an understanding of ISO20022
• Previous work on projects, including delivering via an Agile approach
• Previous experience of delivering reporting, analytical or Management Information solutions 

The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive.  We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation.  One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

We are fully committed to having a diverse and inclusive working environment, and are open to considering how the role might be carried out with flexible working.  This role is therefore open to flexible working patterns. 

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this.  We are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.  

This specific role offers a base salary of Ã‚£35,700- £41,500 per annum, along with our comprehensive benefits package as follows:

•    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 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
•    25 days annual leave with option to buy up to 13 additional days through flexible benefits.
•    Private medical insurance and income protection.