Assurance Analyst; in Participant Management

Job Description

Location: Leeds

The way in which we pay is changing quickly, and the Payments Directorate is at the heart of this change. Payments Directorate supports the Bank's mission to maintain monetary and financial stability by:

• Running the live Real-time Gross Settlement (RTGS) service, which is the critical backbone of payments in the UK.
• Operating the CHAPS payments system, allowing high‑value wholesale payments to settle safely. We are supervised by the Financial Market Infrastructure Directorate given the systemic nature of these operations.
• Horizon scanning developments in payments and leading engagement in key policy debates. This includes supporting the international G20 Roadmap to enhance cross‑border payments.

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 partners we collaborate with. Given the importance and high profile of our work, we provide regular updates to the most senior levels of the Bank including Governors and the Bank's Court of Directors. Payments Directorate has a lead role in the Bank's Strategic Priority 4 (the future of payments), as well as a supporting role in several other strategic priorities.

The variety and immediacy of the work we do means we are one of the most outward facing and fast‑moving areas of the Bank, engaging with external partners across the UK and around the world.

CHAPS is the UK's high value payment system (HVPS) and is used for time‑critical, high value retail payments including house purchase payments, as well as providing real time settlement and finality of payments to Financial Institutions and Non‑Bank Payment Service Providers. Payment Operations Division (POD) acts as CHAPS payment system operator and end‑to‑end risk manager. Therefore, we are responsible for setting the rules which Direct Participants must comply with to become and remain a member of CHAPS.

This Analyst role offers an exciting opportunity to join a high‑profile team within Participant Management (PM). In this role, you will work closely with colleagues across PM and POD, gaining valuable exposure to a wide range of activities. Key responsibilities include supporting the RT2 Cost Recovery model‑engaging with partners, raising invoices using our new Billing system, refining standard operating procedures, and contributing to system developments.

You'll also assist with Participant Incidents, contribute to the delivery of business projects, and gain hands‑on experience using established data tools to support risk analysis and uncover actionable insights.

Throughout, you'll collaborate with a supportive team, develop your skills, and play a meaningful role in delivering the Bank's objectives. In return, we offer the chance to build knowledge across a wide variety of areas within the team, collaborate with other teams across POD, and work in an intellectually stimulating, collaborative environment‑while making an important contribution to the delivery of the Bank's objectives.

In particular, your responsibilities will include some of the following:

• Assist the team in fulfilling Cost Recovery responsibilities by collaborating with partners, contributing to system enhancements, and helping to maintain and improve standard operating procedures and user guides.
• Take ownership of the Billing Operator role by managing key tasks such as processing invoices and performing important annual system updates, contributing to the smooth and accurate delivery of cost recovery.
• Proactively support the Participant Incident Management process by co‑ordinating and tracking workflow, logging DP data accurately in internal systems and evaluating incidents as requested.
• Review and log notifications from Direct Participants regarding Major System Change notifications. Collaborate with colleagues to assess potential risks to CHAPS and, where necessary, agree on action plans to ensure those risks are effectively mitigated.
• Learn to navigate and apply the CRM and other CHAPS manuals in day‑to‑day activities, ensuring relevant rules and risks are understood and applied…