At a Glance
- Tasks: Join the Market Settlements Team to ensure timely and accurate securities and cash settlements.
- Company: Be part of the Bank of England, a leader in financial stability.
- Benefits: Competitive salary, generous leave, private medical insurance, and flexible working options.
- Other info: Diverse and inclusive workplace with excellent career growth opportunities.
- Why this job: Make a real impact in banking operations while developing your technical skills.
- Qualifications: Experience in securities settlements or asset servicing is essential.
The predicted salary is between 39360 - 44280 £ per year.
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).
Job Description
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
- 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.
- 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.
- 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.
- 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.
- 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
- 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, Easy Way, Xact, R, Tableau, Python, Power BI.
- 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).
- 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
- #J-18808-Ljbffr
Banking and Securities Operations Technician - specialist in Market Settlement Team, 12-month opportunity employer: Bank of England
The Bank of England is an exceptional employer, offering a dynamic work environment where innovation and user-centred design are at the forefront of its mission. With a strong commitment to employee development, the Bank fosters a collaborative culture that values diverse perspectives and encourages professional growth through training and mentorship. Located in London, employees benefit from a comprehensive benefits package, flexible working arrangements, and the opportunity to contribute to meaningful projects that shape the future of financial services.
StudySmarter Expert Advice🤫
We think this is how you could land Banking and Securities Operations Technician - specialist in Market Settlement Team, 12-month opportunity
✨Tap into Campus Networks
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We think you need these skills to ace Banking and Securities Operations Technician - specialist in Market Settlement Team, 12-month opportunity
Some tips for your application 🫡
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