Industry Readiness Manager

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. 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. Banking, Payments and Innovation Directorate 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 significant 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 moving 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. Department Overview The world of payments is changing rapidly. New innovative technologies are being developed to meet the changing needs but these can give rise to new threats to users of the payments system, and to the stability of that system as a whole. This means that we need ever stronger protections and more resilient infrastructure. The Real-Time Gross Settlement System (RTGS) lies at the heart of UK payments. In total, RTGS settles around 650bn of payments each working day, close to a third of the UK's annual GDP. The RTGS infrastructure is over 20 years old and, despite its excellent operational record, it needs to be modernised and developed to meet today's needs. Balancing the safeguarding of stability whilst enabling innovation. The RTGS Renewal Programme has been established to develop the next generation of the Bank of England's Real-Time Gross Settlement (RTGS) system. The way payments are made has changed dramatically in recent years, reflecting changes in the needs of households and companies, changes in technology, and an evolving regulatory landscape. The range of payment providers is growing rapidly. Given the implications of these changes for the Bank's mission and for users, businesses and regulators, it is important that the Bank consider how RTGS will need to evolve to meet and shape payments trends in the coming decades. The Programme is now in the Design-Enable-Procure (DEP) stage. After having defined the Programme scope, with input from the payments industry, we are running a competitive procurement process under the Official Journal of the European Union to appoint a Technology Delivery Partner. They will work with the Bank on the design and build of the core settlement engine. We plan to enter the contract with the Technology Delivery Partner in Summer 2020. During this DEP stage, we have been working closely with internal and external stakeholders impacted by the change and have looked to deliver early benefits and increased resilience where possible. Job Description The RTGS Renewal Programme will require a wide range of organisations to make changes to their own technology and processes. This will be critical to ensure firms are ready to send and receive CHAPS payments. A wide range of stakeholders will be impacted by this change, primarily, but not exclusively the 34 firms that are direct members of the CHAPS payments system. The readiness of firms to receive this change is critical to financial stability. With that context, you will lead the assessment and reporting of firm readiness. This will include analysis and challenge of reporting received. This will require working closely with a wide range of stakeholders, for example existing CHAPS direct participants, indirect participants and payment schemes to monitor and support their progress and readiness for changes introduced by the Renewal Programme. The role will include regular engagement with these stakeholders, building close relationships and acting as the first point of contact and escalation when dealing with issues and risks raised by the industry in relation to readiness for migration events. This will also require close communication and engagement with the rest of the Programme team. You will be part of a newly established team within the Programme and as the team grows it is expected that the you will have direct reports. Line management is therefore key part of this job and you will have a previous experience in leading, mentoring and developing staff. Role Requirements The overall strategy for participant readiness has been agreed, but you will be responsible for implementing and op

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