Market Operations Analyst in MO Collateral & Counterparty OPS | London, UK

Bank of England; London; On-site; GBP 36,000 - 41,000; Full time

Job summary

Join a leading central bank as a Market Operations Analyst, where you will play a key role in managing financial and monetary operations. Collaborate with diverse teams to enhance operational efficiency, drive improvements, and support decision-making processes. The role emphasizes personal development and offers a comprehensive benefits package, including a competitive salary and flexible working arrangements.

Benefits

Career average pension

Discretionary performance award

8% benefits allowance

26 days' annual leave

Private medical insurance

Qualifications

• Ability to work accurately under pressure and meet tight deadlines.
• Experience in delivering effective training and documenting processes.

Responsibilities

• Lead business-as-usual operations and projects, ensuring timely delivery.
• Oversee incident management and maintain strong communication with leadership.
• Drive improvements in data management processes.

Skills

Collaboration

Attention to Detail

Proactivity

Interpersonal Skills

Tools

R

Python

Tableau

Job description

Market Operations Analyst in MO Collateral & Counterparty OPS

Market Operations Analyst in MO Collateral & Counterparty OPS

Job Description

Location: Leeds only

Department and Team Overview
The recently formed Strategic Change & Operations (SCO) directorate is central to the success of MBPR. With around 140 staff, it undertakes the management and control of end-to-end business process and data flows in relation to market operations; works to devise and implement the operational strategy for MBPR and takes the lead on cross-divisional issues relating to: operational resilience; change delivery; business planning and oversight; challenge and mitigation of operational risk; people strategy including promoting diversity and inclusion.

Middle Office which sits in SCO has three main teams: Counterparty & Collateral Operations (CCO), Operational Financial Control (OFC) and Pricing Policy & Valuation (PPV).

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 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.

Job Description
We are looking to fill an Operational Analyst role on the team. The successful candidate will join a team consisting currently of a Manager, three Senior Analysts, three Operational Analysts, three Operations Technicians and four Assistant Operations Technicians. 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 of the team include, but are not limited to:

• Lead and prioritise business-as-usual operations and projects, ensuring timely delivery and effective resource allocation.
• Oversee incident management, audit reviews, and escalation of business impacts, maintaining strong communication with senior leadership.
• Drive improvements in data management processes related to counterparties, instruments, loans, and eligibility to enhance efficiency.
• Build and maintain effective relationships with internal and external stakeholders, proactively addressing engagement gaps.
• Coordinate across Front, Middle, and Back Offices to ensure smooth operations and alignment with risk management policies.
• Support knowledge sharing and training within the team, acting as a subject matter expert and contributing to change initiatives.
• Produce and analyse management information, identifying trends and supporting decision-making.
• Maintain accurate market data records and ensure consistency across systems for key stakeholders.

Minimum Criteria
• A collaborative person who supports others to achieve shared goals, respects different perspectives, honours commitments, and consistently delivers on expectations.
• Committed to personal and professional development, open to feedback, embraces challenges, and contributes to the growth of colleagues.
• Proactive and accountable, with a forward-thinking mindset that drives continuous improvement aligned with organisational objectives.
• Strong attention to detail and the ability to produce high-quality work.
• Proficient in IT, with a proven ability to quickly learn and adapt to new systems and processes.

Essential Criteria
• Demonstrated ability to work accurately under pressure and meet tight deadlines, with strong organisational skills to manage and prioritise workload effectively.
• Experience in delivering effective training, documenting processes, and sharing knowledge to support team learning.
• Ability to identify and assess risks and controls, and to challenge processes constructively to drive improvements.
• Excellent interpersonal skills, with the confidence to engage with colleagues across teams and seniority levels, both internally and externally.
• Proven ability to delegate tasks, motivate others, and lead change or projects that promote broader organisational goals.

Desirable Criteria
• Familiarity with, or willingness to learn, coding tools such as R, Python, or Tableau.
• Knowledge of the Bank's financial market operations is advantageous.
• Understanding of financial instruments, counterparty onboarding, or the Bank of England's collateral eligibility criteria.
• Familiarity of financial databases and software including but not limited to EDM Markit, LSEG Workspace, Moody's, EuroABS, Openlink.
• Experience in line management and supporting the development of direct reports.

This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness.

Number of direct reports: 1

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. However, successful job holder will be required to work on Fridays.

This role offers a salary of:

Leeds from £36,000-£40,500

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.

The 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 interview stages.

This role closes on Wednesday 4th June 2025.

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 are driven by curiosity and the desire to do important, challenging work.

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

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