Operational Assistant

Bank of England ,
London, Greater London
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Overview

Job Description

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, made up of approximately 4,000 people - each committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability. The Markets Directorate promotes monetary and financial stability by leading the Bank's market operations, and by using our presence, expertise and influence in financial markets to inform and shape the Bank's policy decisions and priorities. The Markets Directorate includes 6 Divisions which are: * Sterling Markets * Foreign Exchange * Market Intelligence * Financial Risk Management * Middle Office * Markets & Banking COO Department Overview The Middle Office CCO 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 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 team works alongside a Support Team to identify and implement improvements to the current operational processes in the newly implemented middleware system, EDM. In addition, the team works closely with Pricing Policy & Valuations (PPV) in Middle Office and the Financial Risk Management Division (FRMD) to implement new risk policy and methodologies, as well as managing the loans data processes. CCO are currently playing a vital role in the implementation of the Bank's response to COVID-19. This includes participating in contingency planning working groups, the creation of static data for settlement of COVID-19 market operations and operational support and management of the operations with key stakeholders across the Bank. Job description This role includes operational duties and there are team rotas that need be covered. Despite this, Middle Office is dedicated to promoting a healthy work-life balance and encourage flexible working. Examples of flexible working in the team include part-time working, late starts, early finishes and part-time study. At the moment Markets split-site working is suspended due to lockdown. This analyst role would be expected to cover split-site working when this resumes for contingency purposes. This cover includes working from Debden 1-2 days per month on a rota basis. Staff members are eligible for an inconvenience payment and travel expenses on the days that they are asked to work from Debden. 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. The job holder will be given the opportunity to research and implement improvements and work across teams within Middle Office, Markets and other directorates. We are looking to fill an Operational Assistant role on the team. The successful candidate will join a team consisting currently of a Manager, one Analyst, three Operational Analysts and four Operational Assistants. The job holder will be an integral member of the CCO team and as such will play a key role in the support of the Bank's financial and monetary operations. Key responsibilities include, but are not limited to: -- Manage and own market data, implementing and maintaining consistent records for use across multiple systems and by key stakeholders -- Coordinate, liaise and communicate across the Front, Middle and Back Offices to ensure smooth and effective running of the Bank's operations -- Developing an understanding of the Bank's Risk Management functions and close liaison with FRMD to implement the Bank's polices -- Identify and implement business improvements to ensure operational excellence within all tasks on the team -- Recording incidents across the division, producing analysis and recommendations for senior managers -- Producing management information to support the key operations of the team, spotting trends and anomalies in the data where appropriate -- Becoming a subject matter expert on one of the workstreams within the team, providing expertise for change projects, including Markets-wide initiatives to support the Bank's mission. Role Requirements Minimum Essential Criteria -- An interest in the Bank's market operations and how we support them operationally -- A team player, willing to help others to achieve results -- Experience of working accurately to tight deadlines -- Attention to detail with the ability to deliver outputs to a high standard -- Determination to seek to improve both outputs and processes -- Strong interpersonal skills to interact confidently with other teams and directorates at junior and senior levels, including externally -- Strong IT skills and a willingness to learn new processes a

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