Non-Executive Director RTGS/CHAPS Board

On-site in London·Added yesterday (last checked 21 Oct)

Bank of England

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Overview

Salary: £39,900 a year
About £2,690 a month after tax.

Skills

Payments

The role

As the central bank of the United Kingdom, the Bank of England operates the RTGS service and CHAPS, the UK's high-value payment system and settlement service. These services support the Bank's mission of maintaining monetary and financial stability by providing risk free settlement and the infrastructure to implement Monetary Policy decisions and provide liquidity. There are 40 direct CHAPS participants and several thousand indirect participants settling over £405bn of payments per day (2026). When adding other types of settlement, RTGS settles over £890bn per day.

The Bank is seeking an independent member of the RTGS/CHAPS Board (the Board) with the experience and capability to chair the risk committee. The Board provides strategic leadership for these payment systems and is chaired by the Bank's Deputy Governor for Markets, Banking and Resolution. In addition to a number of internal directors, the Board has five Independent Members whose role is to:

ensure there is independent challenge to the Bank in the management of RTGS and CHAPS
Bring broader experience and insight and an independent perspective to Board decision-making, openness and accountability
Contribute to robust and well-informed debate and hold the executive team to account

The successful candidate will be expected to have:

Minimum Criteria

Experience as a senior risk management executive, Board member or equivalent risk sub-committee member, with responsibility for overseeing risks across a wider ecosystem of suppliers and users, major change delivery and cyber security
An understanding of operational resilience issues, including third-party risk management and emerging cyber threats
An understanding of payment systems and the environment in which the RTGS and CHAPS services operate
Strong stakeholder management skills; the ability to influence senior decision makers and develop relationships in order to shape good outcomes and hold executives to account

Desirable Criteria

Prior experience as a Non-Executive Director would be advantageous, although is not essential

The role is expected to require a commitment of circa 38 days per annum. The appointment will be for three years, with the possibility of renewal. Remuneration will be £39,900 per annum. Meetings will take place at the Bank's offices in London or virtually.

The responsibilities of the Board include reviewing confidential and commercially sensitive information. All members of the Board are required to adhere to the Board's Conflicts of Interest Code of Practice. Under this Code controlling shareholdings in, or Board membership of, a firm materially engaged in the direct provision of services to RTGS/CHAPS, or a direct user of CHAPS is likely to disqualify an individual. Members are required to abide by the Bank's Code for staff: further details can be found at:

https://www.bankofengland.co.uk/-/media/boe/files/about/human-resources/ourcode.pdf. Candidates should therefore carefully consider whether their circumstances may give rise to a conflict and declare this on application, as members will be selected with due regard for the avoidance of conflicts of interest.

For more information and to apply, please email your CV to:

boechaps@sapphirepartners.co.uk. The closing date for receipt of applications is midnight on 16 November 2027

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.

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.

National Security Vetting Process

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.