Notes Accounting Team Member

Notes Directorate fulfils the Bank's obligations as the sole issuer of banknotes in England and Wales, and to maintain confidence in the currency.

With staff across Threadneedle Street, Debden and Leeds, we rely on expertise in diverse fields such as economic and quantitative modelling, policy and risk analysis, operations, public communications and science. In fulfilling this important and highly visible public role, it is important that we ensure:

• the public has access to genuine, high-quality banknotes in a range of denominations; and

• a well-run cash industry exists to supply banknotes efficiently across the country.

In addition to our role in relation to Bank of England notes, Notes Directorate fulfils the Bank's statutory responsibility to ensure public confidence in banknotes issued by Scottish and Northern Ireland banks.

Notes Directorate is fully committed to diversity and inclusion for all staff. Notes Directorate supports flexible working at all sites.

Department Overview

The Notes Accounting Team is based in Threadneedle Street, Debden and Leeds. The team consists of a Manager (also responsible for the SAP User Business Support Team), a Team Leader and four Team Members.

The distribution of Bank of England banknotes is undertaken by the commercial sector within the framework of the Note Circulation Scheme (NCS). The Notes Accounting Team plays a significant role in operating the NCS, being responsible for the daily purchases and sales of banknotes amounting to several billion pounds. The role involves frequent interaction with major banks and other commercial organisations. The team also provides data to a number of teams across the Bank which is used to make strategic operational decisions.

Job Description

The Notes Accounting Team Members fulfil an operational role which is essential to the effective operation of the NCS.

Team Members are responsible for:

• Ensuring the transactions submitted by the NCS members are completed on time and processed into RTGS payment runs.

• Recording banknote related movements within Notes Directorate and reconciliation of transactions between the Bank's cash centres and members of the NCS.

• Processing transactions submitted as part of the Scottish & Northern Ireland Banknote Regime.

• Processing daily, weekly and monthly transactions for the Bank of England notes in circulation in Northern Ireland.

• Daily liaison with NCS members including being the first line of support for approximately 150 external users of the Notes Division IT system (NIPS).

• Completion of ad-hoc tasks including compiling data for further analysis within the Directorate.

• Completing daily financial returns.

• Assisting in testing and training relating to change/upgrades to the NIPS system.

The role also offers opportunities to be involved with the work of the SAP User Business Support Team including testing of technology changes.

The role involves using a variety of systems including NIPS, Splunk, T24 and Microsoft Excel.

Role Requirements

The value of daily transactions processed during the day is significant and we are seeking candidates able to demonstrate the following:

Minimum Requirements

• Proven team-working and interpersonal skills - being part of a small operational team requires the ability to cover for other team members on a regular basis and to switch between tasks at short notice. The role also entails significant liaison with both internal and external counterparts.

• Sound problem-solving skills - the work involves understanding a number of complex processes and being able to deal with issues as they arise.

• Outstanding execution - the ability to produce high quality, accurate work whilst meeting agreed deadlines

Essential Requirements

• Strong numerical and IT skills - an awareness of advanced Excel functions would be beneficial.

• Time management - the ability to plan and prioritise work in a flexible way adapting to operational changes often with little notice.

• Ability to challenge - we are constantly striving to improve our processes and welcome new ideas to enhance our processes.

• Initiative - an ability to work independently and willingness to learn new skills.

• 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.

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.