Senior Custodial Operations Analyst in Gold Team | London, UK

Senior Custodial Operations Analyst in Gold Team

Senior Custodial Operations Analyst in Gold Team

Senior Custodial Operations Analyst in Gold Team

Job Description

Banking Directorate supports the Bank\’s mission to maintain monetary and financial stability by developing and operating resilient and efficient banking, payment, settlement, and custody services in support of our strategic customers and our market operations.

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 and external stakeholders we work with. The variety and immediacy of the work we do means we are one of the most outward facing and fastest moving areas, acting as the \’bank within the Bank\’ for the UK government, CCPs and other central banks, as well as our own market operations.

Department Overview
The role of Banking Operations within the Customer Banking Division is to deliver a wide range of banking services to our customers. Our customers range from central banks and international financial institutions as well as internal and government customers. We provide high value payment services in sterling and euro as well as services in retail banking through our membership of BACS. We also process FX payments for the Bank EEA, Government and central bank customers.

The Note and Gold Operations team (NGO) sits within Banking Operations and provides custodial services for gold and the Bank\’s contingency banknote store. The team also has responsibility for operating the Bank\’s Counter service for processing Banknote exchanges. The team comprises of c.45 staff.

Job description
An Operational Analyst role has arisen to support the NGO manager and to undertake some of the public facing, analytical and managerial work, with the Scale E\’s support and direction. There will be times when the Scale F Operational Analyst will be required to cover the Scale E Manager at internal/external meetings. The Scale F will be required to work alongside and closely with the other NGO Operational Analyst (Scale G) who also reports directly to the NGO Manager.

The Note and Gold Operations Analyst will own, co-ordinate and work on various issues/work topics. This role will be focused on our Gold operations, however, there will be some exposure to the Notes side of the business. Work could also arise from internal issues or projects e.g. from operational incidents, audit findings or efficiency/risk improvements; or projects such as SAP Next generation which will see the NIPS and GBM systems upgraded. The analyst will be expected to own or input to some cyclical BAU tasks and complete them to deadlines.

Responsibilities will include:

• Line management responsibility for NGO Technical Specialists (Scale H)
• To lead on medium-to-large project and non-project change including stakeholder management
• Work with PACE (Policy and Customer Engagement team) and Legal on amendments/changes to Customer Terms & Conditions
• Contribute to policy discussions
• Responsibility for externally facing Management Information
• Act as the lead on incident resolution and review
• Engage with gold customers (current and prospective) during inspections and visits
• Representing NGO at working level meetings both internal & external
• Support the implementation of Continuous Innovation (CI) by providing challenge and signing off recommendations

This role is predominantly a Technical Analyst role although it includes a proportion of people management responsibility. You will be required to support the NGO manager and the other analyst in developing the NGO team. This will be achieved through sharing information effectively; having regular 1:1s with staff; coaching staff; and may include performance management for Scale H Technical Specialists. In addition, the job holder will appropriately and clearly delegate actions to ensure that 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.

Number of direct reports: 4

Role Requirements:

Minimum (Essential) Criteria

• Strong analytical skills – The jobholder will need to think broadly to complete robust and thorough analysis and identify the key impacts and risks for NGO.
• Strong communication skills – The jobholder will need to present complex issues in a clear high-level form understandable by colleagues with less specialist knowledge e.g. to Senior Managers/HoDs as well as to other areas of the Bank . This will include in the form of written notes, power point slides, and verbally.
• Drive and determination – Self-starter with the ability to drive forward and co-ordinate tasks or groups of tasks within required timeframes, to a high standard
• Ability to develop and build relationships with a range of internal and external stakeholders
• Good workload management skills
• Strong interpersonal skills
• Creative thinking – ability to reimagine process from scratch, and create innovative new ways to achieve existing objectives.
• Problem solving skills – To act as a point of escalation and support the operational team in resolving operational issues, including being able to provide assistance in the event of a live operational incident.

Desirable criteria:
• Knowledge and experience of the Bank\’s vault operations – The job holder is expected to become a subject matter expert in NGO\’s work and the systems it uses (e.g. NIPs, GBM, T24) as well as have a good understanding of market initiatives or changes which may impact the area\’s work.
• Experience of managing and developing others – Experience of managing and developing staff is preferred although the jobholder is not expected to have full experience of performance management (i.e. PRS and moderation process).
• Knowledge of Market\’s and Banking\’s change management processes

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.

This role offers a salary of:

London from £54,080 – £60,840 per annum.

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 6th August 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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