Assurance Analyst (Payments) in Participant Management

Bank of England; Leeds; On-site; GBP 37,000 - 42,000; Full time

Job summary

A leading central bank in Leeds is seeking an Analyst to join its Payments Directorate. The successful candidate will support the RT2 Cost Recovery model, manage billing tasks, and assist with participant incidents. Key skills include strong organizational and data analysis abilities. This role offers a collaborative environment and competitive salary ranging from £37,520 to £41,760, along with comprehensive benefits.

Benefits

Comprehensive benefits package

Private medical insurance

Annual leave of 26 days

Qualifications

• Strong organisational skills to manage multiple priorities.
• Proven ability to communicate effectively at all levels.
• Demonstrable skills in data analysis.

Responsibilities

• Support the RT2 Cost Recovery model and engage with partners.
• Process invoices and manage the Billing Operator role.
• Assist with Participant Incidents and evaluate risks.

Skills

Organisational skills

Verbal communication

Written communication

Data analysis

Tools

Tableau

Job description

Job Description

Location: Leeds

Background

The way in which we pay is changing quickly, and the Payments Directorate is at the heart of this change. Payments Directorate supports the Bank's mission to maintain monetary and financial stability by:

• Running the live Real-time Gross Settlement (RTGS) service, which is the critical backbone of payments in the UK.
• Operating the CHAPS payments system, allowing high‑value wholesale payments to settle safely. We are supervised by the Financial Market Infrastructure Directorate given the systemic nature of these operations.
• Horizon scanning developments in payments and leading engagement in key policy debates. This includes supporting the international G20 Roadmap to enhance cross‑border payments.

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 partners we collaborate with. Given the importance and high profile of our work, we provide regular updates to the most senior levels of the Bank including Governors and the Bank's Court of Directors. Payments Directorate has a lead role in the Bank's Strategic Priority 4 (the future of payments), as well as a supporting role in several other 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, engaging with external partners across the UK and around the world.

Department Overview

CHAPS is the UK's high value payment system (HVPS) and is used for time‑critical, high value retail payments including house purchase payments, as well as providing real time settlement and finality of payments to Financial Institutions and Non‑Bank Payment Service Providers. Payment Operations Division (POD) acts as CHAPS payment system operator and end‑to‑end risk manager. Therefore, we are responsible for setting the rules which Direct Participants must comply with to become and remain a member of CHAPS.

Job Description

This Analyst role offers an exciting opportunity to join a high‑profile team within Participant Management (PM). In this role, you will work closely with colleagues across PM and POD, gaining valuable exposure to a wide range of activities. Key responsibilities include supporting the RT2 Cost Recovery model‑engaging with partners, raising invoices using our new Billing system, refining standard operating procedures, and contributing to system developments.

You'll also assist with Participant Incidents, contribute to the delivery of business projects, and gain hands‑on experience using established data tools to support risk analysis and uncover actionable insights.

Throughout, you'll collaborate with a supportive team, develop your skills, and play a meaningful role in delivering the Bank's objectives. In return, we offer the chance to build knowledge across a wide variety of areas within the team, collaborate with other teams across POD, and work in an intellectually stimulating, collaborative environment‑while making an important contribution to the delivery of the Bank's objectives.

In particular, your responsibilities will include some of the following:

• Assist the team in fulfilling Cost Recovery responsibilities by collaborating with partners, contributing to system enhancements, and helping to maintain and improve standard operating procedures and user guides.
• Take ownership of the Billing Operator role by managing key tasks such as processing invoices and performing important annual system updates, contributing to the smooth and accurate delivery of cost recovery.
• Proactively support the Participant Incident Management process by co‑ordinating and tracking workflow, logging DP data accurately in internal systems and evaluating incidents as requested.
• Review and log notifications from Direct Participants regarding Major System Change notifications. Collaborate with colleagues to assess potential risks to CHAPS and, where necessary, agree on action plans to ensure those risks are effectively mitigated.
• Learn to navigate and apply the CRM and other CHAPS manuals in day‑to‑day activities, ensuring relevant rules and risks are understood and applied appropriately.
• Support the production and ongoing refinement of Participant Management metrics, contributing to the creation of accurate, insightful reports for key stakeholders‑while continuously developing your analytical skills.

Role Requirements

Minimum Criteria

• Strong organisational skills with a proven ability to manage multiple priorities and meet deadlines in fast‑paced environments.
• Proven excellent verbal and written communication skills; experience of being able to build effective relationships at all organisational levels.
• Demonstrable skills in data analysis and information synthesis to inform decisions.

Essential Criteria

• Demonstrable ability to follow established operational procedures consistently and accurately, as evidenced by a track record of minimal errors in work outputs over a sustained period.

Desirable Criteria

• Operational Risk awareness
• An understanding of the UK's payments industry.
• Familiarity with Tableau, including maintaining and setting up new dashboards.

Our Approach to Inclusion

The 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 Information

We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro‑rated basis as appropriate.

We offer a salary as follows:

Location: Leeds, salary circa £37,520 - £41,760 per annum (depending on skills and experience).

In addition, we also offer a comprehensive benefits package as detailed below:

• Currently a non‑contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
• A discretionary performance award based on a current award pool.
• An 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.

National Security Vetting Process

Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.

The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.

Application Process

Important: Please ensure that you complete the 'work history' section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It's therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.

The assessment process will comprise of two stages.

This role closes for applications on 9 January 2026.

Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.

About Us

We are the UK's central bank - and we are a bank like no other; known by our peers for our world‑leading thinking on policy and strategy.

Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people's money safe. We know our work matters to people, to families, up and down the UK. We know our work matters to people, to families, up and down the UK.

It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long‑established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.

There's much to gain from working with us - from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.

Join us and find a bank like no other. Together, we can make a difference.

The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you're successful we'll use it to offer you a position and onboard you to join the Bank.

If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice.