Banking and Securities Operations Technician - specialist in Market Settlement Team, 12-month opportunity

About the team

The Market Settlements Team (MST) team sits within the Central Banking Operations Division and is responsible for the safe, accurate and timely settlement of securities and cash flows arising from activity determined by Foreign Exchange Division (FED) and Sterling Markets Division (SMD).

The team settles a wide range of products, including repos, bond trades, swaps and futures related cash movements and reconciliations, alongside cash funding, collateral management and asset servicing activity including coupons and maturities.

MST supports activity across the Bank’s own foreign currency reserves and the Exchange Equalisation Account (EEA) managed on behalf of HM Treasury.

About the Role

As a Technical Specialist, you will provide subject matter expertise across securities settlement, cash funding, asset servicing custody, and selected derivative products.

The role combines direct operational involvement with technical expertise, supporting the accurate and efficient processing of securities and cash movements in a highly controlled environment. You will apply technical expertise to resolve non-standard settlement and asset servicing issues, provide advice and guidance on operational matters, and support a strong risk and control environment by identifying and mitigating operational risks in line with established procedures and governance.

Alongside business-as-usual responsibilities, the role offers opportunities to support change initiatives and continuous improvement activity that strengthen delivery across the team and the wider Central Banking Operations Directorate.

What You’ll Do

1. Specialist Operational Delivery

• Deliver and maintain the timely and accurate settlement of securities and cash movements, ensuring compliance with industry standards, market conventions and legal deadlines.
• Apply detailed knowledge of core banking, payment and securities systems (including Openlink, SWIFT Alliance Access, T24, Fedwire, Euroclear and Clearstream) to support effective end-to-end processing, issue resolution and control of settlement activity.

2. Technical Leadership & Issue Resolution

• Investigate and resolve operational and system related issues, working closely with internal teams to ensure timely and effective resolution.
• Act as an escalation point for complex operational queries and time critical decisions.
• Provide technical expertise across the team, acting as a point of reference, mentor and support for colleagues.

3. Change, Testing & Continuous Improvement

• Support the implementation of change initiatives, including requirements, testing and system releases.
• Identify and drive process improvements to increase automation, resilience and control effectiveness.
• Promote operational excellence and a culture of continuous improvement.

4. Controls, Risk & Incident Management

• Maintain strong operational controls across settlements
• Support incident assessment by providing clear technical insight on root cause, impact, and remediation and lessons learned.

5. Data, MI & Relationship Management

• Produce and analyse management information to identify trends, support decision making, and evidence control effectiveness.
• Act as a key point of contact for stakeholders, including Front Office areas, custodians and counterparties
• Build and maintain effective working relationships, representing the team in internal and external forums.

Role requirements

To be considered for this role, candidates must meet all the minimum criteria:

Minimum Criteria

• Demonstrable operational experience and strong working knowledge in at least one of the following areas: securities settlements, collateral management, asset servicing, swaps, and/or futures related cash and reconciliation activity.
• Proven ability to deliver high quality, well controlled outputs within a regulated operational environment.
• Strong problem-solving capability, including identifying issues, assessing impacts, and proposing practical resolutions.

Essential Criteria

• Well- developed analytical skills, including the ability to interpret data and make sound, evidence-based recommendations.
• Ability to understand end to end operational impacts of decisions and changes.
• Effective organisational and workload management skills, with the ability to manage competing priorities and work accurately under pressure.
• Ability to adapt to changing information, anticipating risks and opportunities.
• Strong interpersonal and communications skills, with the ability to engage effectively with internal and external stakeholders at both junior and senior levels.
• Proficiency with Excel and other Microsoft applications.

In addition to the minimum and essential criteria, candidates will typically demonstrate one or more of the following:

Desirable Criteria

• Broader operational exposure across multiple product areas, with working knowledge in two or more of: securities settlements, collateral management, asset servicing, swaps, or futures.
• Working knowledge of core banking, payments and securities and data systems/applications: Openlink, SAA / SWIFT, T24, EasyWay, Xact, R, Tableau, Python, PowerBI.
• Experience delivering change initiatives or working on projects within an operational environment.

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

Location: London

This role offers an annual salary range in circa. of £39,360 - £44,280 (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.

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 stages.

This role closes for applications on01 October 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.