The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people. The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
ARTIS is a new Directorate formed in July 2021 and is formed of:
- the Authorisations Division, which deals with regulatory transactions where firms apply to carry out PRA regulated activities or make changes to the activities they undertake.
- the new RegTech, Data and Innovation Division; and
- the four divisions responsible for the supervision, as a host regulator, of the UK activities of banks, custodians and designated investment firms headquartered in over 50 overseas jurisdictions - including some of the world's highest profile firms.
This role is within the RegTech, Data and Innovation Division (RDID), which works to deliver against the PRA Strategic Review objective to make the most of data and technology, consistent with the wider Bank's Strategic Priority 7 to modernise the Bank's ways of working.
In September 2021, PRC agreed a multi-year programme to 'deliver a step change in the PRA's efficiency, effectiveness, and data culture by 2026, through phased investment in tools, technology, processes and skills.
Since then, RDID has been working hard with colleagues across the PRA and in the wider Bank to help ensure we are equipped to deliver against that ambition. In 2022, we laid the foundations and multi-year forward plan in the PRA 2026 strategic data roadmap, as well as rolling out early tools and platforms. In 2023, we entered delivery mode for the agreed priority projects within that roadmap.
RDID is made up of four teams:
- Data Governance Team
- Digital Transformation Team
- Operational Strategy & Delivery Team
- Technical Capabilities Team
RegTech Business Analyst
This is a Business Analyst role in the Operational Strategy & Delivery team within RDID, and is constructed of Delivery Managers, Business Analysts and Product Managers. We lead on the enablement and delivery of the RegTech and Data Strategy for the division and across ARTIS and the PRA. We also lead on External Engagement, Communication Strategy, Product Strategy and Finance & Governance.
This is a critical role in bridging the gap between business needs and technology solutions, ensuring we are delivering value for our colleagues across the PRA. The RegTech Business Analyst will be working with a wide range of colleges across strategy delivery, technology enablement, and digital transformation teams. It also requires engagement across ARTIS and the wider PRA, and there is the opportunity to gain insight from our international engagement and bring that knowledge into the products we deliver. Due to the broad range of topics the team and the division engages with, work is very varied and exciting.
Key responsibilities:
1. Business Requirements Analysis:
- Collaborate with our stakeholders to gather, analyse, and document business requirements.
- Conduct workshops, interviews, and surveys to elicit detailed business needs.
- Develop clear and concise requirements documentation, including user stories, use cases, and process flow diagrams.
- Drive the adoption of industry best practices both in terms of tools and techniques for effective business analysis and ensuring it is done it a collaborative, inclusive manner.
2. Strategic Stakeholder Engagement:
- Build effective and collaborative relationships with a wide range of colleagues internally across the Bank and with our external stakeholders.
- Enable different communication channels and collaboration among stakeholders.
- Have awareness of strategic business aims in the PRA to engage in critical thinking about possible problems and opportunities.
- Develop business cases and feasibility studies for proposed solutions and initiatives.
3. Solution Assurance:
- Work with other business analysts, our product manager and technical team to ensure that the proposed solutions meet the business requirements.
- Ensure solutions are scalable, sustainable, and aligned with business goals.
- Oversee user acceptance testing (UAT) and ensure successful transition to production.
Role requirements
Minimum criteria
The successful candidate will be able to demonstrate all the following:
Analytical skills and critical thinking: solid experience of gathering, analysing and accurately documenting business and solution requirements using techniques such as business process models, wireframes, use cases and data models. Also, proactive in problem solving with the ability to exercise independent judgement and provide challenge when required.
Strong communication and interpersonal skills: evidence of building relationships and liaising effectively and collaboratively with both internal and external stakeholders. Getting buy-in from colleagues and key stakeholders for difficult decisions and explaining difficult concepts in a way that stakeholders at different levels of seniority can understand.
Delivery: evidence of exposure to the full software development lifecycle, ideally with some experience with Agile delivery. Also, the ability to incorporate user needs, business needs, and technical constraints/opportunities into the product development process.
Leadership: evidence of supporting a team to achieve common goals through lateral leadership and influencing, and the ability to engage with a wide range of experts from very different backgrounds (from supervision to data and technology).
Desirable criteria
Candidates may also be able to demonstrate some the following:
- Experience in design thinking, user centred design, or system thinking techniques.
- Experience effectively engaging with stakeholders at various level of seniority.
The Bank values diversity and inclusion - we want to reflect the society we serve better; we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff run networks.
We are fully committed to having a diverse and inclusive working environment and are open to considering how the role might be carried out with flexible working. This role is therefore open to job shares, flexible and part time working patterns.
As part of our commitment to expand our presence across the UK, this role can be based in either London or our Leeds office.
Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. We expect colleagues to spend a minimum of 40% of their working time in the office per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.
We are also committed to making adjustments for candidates and employees where possible and have partnered with external expert organisations to support us in this. We are a member of the Disability Confident Scheme, and if you would like to apply under the scheme please email .
We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV.
For further information or an informal discussion on the role, please Carmen Barandela
This role closes on 20th October 2024.
The 'Reference Point Group' for this role is Central Banking. Further information can be found here - Understanding the Bank's approach to pay (sharepoint.com)
Please apply online, ensuring that you stop and complete your profile in OBS, then answer the application questions, complete the work history and submit your CV and most recent PRS.
