Notes Accounting Team Member

Bank of England; City Of London; Hybrid; GBP 26,000 - 29,000; Full time

Benefits offered by this job

Pension (non-contributory, career-aver

Discretionary performance award

8% benefits allowance

26 days' annual leave

Private medical insurance and income保护

Job summary

Bank of England’s Notes Accounting Team in Leeds handles the daily purchases and sales of banknotes under the Note Circulation Scheme, interfacing with major banks and the NCS IT system. The role supports timely RTGS payment runs and reconciliations across notes centres.

We seek a numerically strong, IT-literate candidate with Excel expertise and strong time management to ensure accurate daily returns and to contribute to data analysis and change testing within the SAP/ NIPS environment.

Qualifications

• Strong numerical and IT skills are essential with an awareness of advanced Excel functions.
• Time management and prioritising work in a flexible, evolving environment are required.
• Initiative and the ability to work independently while collaborating with colleagues are important.
• Proven team-working and interpersonal skills—covering for others and liaising with internal and external counterparts.

Responsibilities

• Ensuring NCS transactions submitted by NCS members are completed on time and processed into RTGS payment runs.
• Recording banknote movements and reconciling cash between Bank centres and NCS members.
• Processing transactions for the Scottish & Northern Ireland Banknote Regime.
• Handling daily, weekly and monthly transactions for Bank of England notes in circulation in Northern Ireland.
• Liaising with NCS members as the first line of support for the Notes Division IT system (NIPS).
• Completing ad-hoc data compilation for analysis within the Directorate.
• Completing daily financial returns and supporting testing/training for NIPS changes.

Skills

Numerical skills

IT skills

Excel

Time management

Initiative

Teamwork

Problem solving

Tools

NIPS

Splunk

T24

Microsoft Excel

Job description

Job Description

Notes Directorate fulfils the Bank's obligations as the sole issuer of banknotes in England and Wales, and to maintain confidence in the currency.

With staff across Threadneedle Street, Debden and Leeds, we rely on expertise in diverse fields such as economic and quantitative modelling, policy and risk analysis, operations, public communications and science. In fulfilling this important and highly visible public role, it is important that we ensure:

• the public has access to genuine, high-quality banknotes in a range of denominations; and
• a well-run cash industry exists to supply banknotes efficiently across the country.

In addition to our role in relation to Bank of England notes, Notes Directorate fulfils the Bank's statutory responsibility to ensure public confidence in banknotes issued by Scottish and Northern Ireland banks.

Notes Directorate is fully committed to diversity and inclusion for all staff. Notes Directorate supports flexible working at all sites.

Department Overview

The Notes Accounting Team is based in Threadneedle Street, Debden and Leeds. The team consists of a Manager (also responsible for the SAP User Business Support Team), a Team Leader and four Team Members.

The distribution of Bank of England banknotes is undertaken by the commercial sector within the framework of the Note Circulation Scheme (NCS). The Notes Accounting Team plays a significant role in operating the NCS, being responsible for the daily purchases and sales of banknotes amounting to several billion pounds. The role involves frequent interaction with major banks and other commercial organisations. The team also provides data to a number of teams across the Bank which is used to make strategic operational decisions.

Job Description

The Notes Accounting Team Members fulfil an operational role which is essential to the effective operation of the NCS.

• Ensuring the transactions submitted by the NCS members are completed on time and processed into RTGS payment runs.
• Recording banknote related movements within Notes Directorate and reconciliation of transactions between the Bank's cash centres and members of the NCS.
• Processing transactions submitted as part of the Scottish & Northern Ireland Banknote Regime.
• Processing daily, weekly and monthly transactions for the Bank of England notes in circulation in Northern Ireland.
• Daily liaison with NCS members including being the first line of support for approximately 150 external users of the Notes Division IT system (NIPS).
• Completion of ad-hoc tasks including compiling data for further analysis within the Directorate.
• Completing daily financial returns.
• Assisting in testing and training relating to change/upgrades to the NIPS system.

The role also offers opportunities to be involved with the work of the SAP User Business Support Team including testing of technology changes.

The role involves using a variety of systems including NIPS, Splunk, T24 and Microsoft Excel.

Role Requirements

The value of daily transactions processed during the day is significant and we are seeking candidates able to demonstrate the following:

Minimum Requirements

• Proven team-working and interpersonal skills - being part of a small operational team requires the ability to cover for other team members on a regular basis and to switch between tasks at short notice. The role also entitles significant liaison with both internal and external counterparts.
• Sound problem-solving skills - the work involves understanding a number of complex processes and being able to deal with issues as they arise.
• Outstanding execution - the ability to produce high quality, accurate work whilst meeting agreed deadlines

Essential Requirements

• Strong numerical and IT skills - an awareness of advanced Excel functions would be beneficial.
• Time management - the ability to plan and prioritise work in a flexible way adapting to operational changes often with little notice.
• Ability to challenge - we are constantly striving to improve our processes and welcome new ideas to enhance our processes.
• Initiative - an ability to work independently and willingness to learn new skills.

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.

From 1st October 2026, we expect all our colleagues to spend a minimum of 50% of their working time in the office per month. This is to capitalise on the benefits of working together in person across teams, while maintaining the flexibility offered by home working. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

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.

Based in Leeds, this role offers a salary of £25,760 - £28,980

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.

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