Bank of England
Banking and Securities Operations Manager in RTGS Operations
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Banking and Securities Operations Manager in RTGS Operations
Head of RTGS Operations
Payments Directorate, Bank of England
Background
The Real-Time Gross Settlement (RTGS) service—operated by the Payments Directorate—is the backbone of all financial transactions in the UK. It ensures the smooth functioning of the economy by supporting the settlement of payments for:
- Banks and building societies
- Financial market infrastructures
- Non-bank payment service providers
- Key payment systems like Bacs, CHAPS, ICS (cheque clearing), CREST, Faster Payments (FPS), LINK, Mastercard, Visa, and PEXA
The role is critical to monetary policy, financial stability, and the efficient operation of the UK’s payments ecosystem.
Role & Responsibilities
Strategic Leadership & Oversight
- Lead the RTGS operational team to ensure the safe, efficient, and resilient operation of the RTGS/CHAPS service, including change management and business continuity during disruptions.
- Shape payments policy in collaboration with the Head of RTGS Operations and senior stakeholders, contributing to strategic decision-making.
- Act as a subject matter expert, providing challenge and support on key topics to inform wide-ranging policy and operational initiatives within the Payments Directorate.
Operational Excellence & Incident Management
- Oversee high-level decision-making, defining team roles and responsibilities while managing a diverse operational team (including specialists and analysts in the RTGS Control Centre).
- Lead live service incidents, upholding the Bronze operational response protocol as Recovery Manager, and coordinate with the communications team (Response Manager) to communicate effectively with stakeholders.
- Develop a culture of continuous improvement, eliminating inefficiency, and ensuring a ‘single source of truth’ and ‘one best way’ for processes.
Resilience & Contingency Planning
- Authorise, document, and execute plausible disruption scenarios to test operational resilience, aligning with regulatory and audit requirements.
- Collaborate with the Operational Resilience Manager to manage testing programs, maintaining up-to-date documentation (e.g., RTGS/CHAPS asset map). oversee Business User Acceptance Testing (UAT), ensuring robust scheduling, quality testing, and effective issue resolution—working closely with the RTGS Change & Planning Office and Technology teams.
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Stakeholder & External Engagement
- Represent the Head of RTGS Operations at internal and external meetings, ensuring clear communication on critical operational matters.
- Build and maintain relationships with key stakeholders—including Technology, Swift, EUI, Pay.UK, and other industry counterparts—representing the Bank in operational working groups.
- Present to senior leadership and deliver operational updates in line with strategic priorities.
People Management & Development
- Manage 1-2 direct reports, fostering a productive, engaged, and motivated team through targeted coaching, goal-setting, and career development.
- Responsible for day-to-day people management, including performance, absence, and HR matters.
- Recognise the need for flexible working, including job shares and part-time arrangements, and support adjustments for those with disabilities under the Disability Confident Scheme.
Minimum Criteria
- Excellent leadership, stakeholder management, and influencing skills
- Strong written and verbal communication
- Proven operational expertise and change management experience
- Decision-making under pressure with strategic foresight
- Deep understanding of operational resilience and risk management
- Talent development experience and proven ability to lead people effectively
Essential Criteria
- Comprehensive awareness of the UK and international payments landscape
- Practical experience with Agile change management
- Budgetary management skills
- Relevant experience in UK or global payment operations
Working Conditions
- Rota-based weekday shifts (typically early morning to RTGS close) with occasional weekend working.
- Hybrid model: Employees are expected to spend at least 40% of their time in the office per month but required to collaborate in person to ensure trusted relationships and effective operations.
Our Approach to Inclusion
The Bank of England champions diversity, equity, and inclusion as critical to delivering monetary and financial stability. We embrace opportunities to attract and retain talent from all backgrounds, including but not limited to:
- Age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation, socioeconomic status.
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We welcome applications from those seeking flexible working arrangements, including job shares, part-time roles, and disability adjustments. Applications from Under Represented Groups are particularly encouraged.
Salary & Benefits
Salary Range
- Leeds: £65,440 – £73,620
- London: £72,720 – £81,810 (due to the Bank’s London Weighting allowance)
Benefits Package
- Career average pension (non-contributory): Currently 1/80th wage per year worked, with the option to increase (to 1/65th) or decrease (to 1/105th) via flexible benefits-linked salary adjustments.
- Discretionary performance awards
- 8% benefits allowance, converted wholly or partially into chosen flexible benefits
- 26 days’ annual leave (expandable to 38 days by accruing 12 additional days via flexible benefits)
- Private medical insurance & Income Protection
Security & Vetting
This role requires National Security Vetting clearance, typically taking 6-12 weeks post-offer. Publicity around the position is prohibited during the vetting process to maintain operational security.
The Bank undertakes thorough security checks, including compliance with Immigration Rules, though sponsorship for overseas employees may not be guaranteed for all candidates.
The Application Process
- Complete the ‘work history’ section and answer all mandatory questions in full to proceed. Anonymised applications essential to ensure fairness in selection.
- Assessment process includes 1+ interview stages.
- Applications close July 13, 2026.
For full roles details and the recruitment privacy notice, visit: [Bank of England Careers](https://www.bankofengland.co.uk/research careers)
About The Bank Of England
We shape UK economic strategy with a mission to promote the good of the people by maintaining monetary and financial stability.
Join a people-first institution where curiosity drives challenge and collaboration defines success. Be part of a team that makes difference—every day.
≫ Employment Notice
By applying, you confirm your eligibility and understanding that your role may require security clearance, background checks, and compliance with immigration laws.
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