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Transition Lead



Private Sector

£90,000 - £110,000 per annum

Job Ref: DS9838

Role Overview

We are looking for an outstanding individual with a strong background in successful delivery to assume a pivotal role in the extensive programme of work underway at the Bank of England to deliver the next generation of the Bank’s Real-Time Gross Settlement (RTGS) system.

The Transition Lead is responsible for the successful delivery of the Programme’s four transition states bringing together technology and business change, within and outside the Bank. This is a mission-critical role which includes responsibility for the Programme’s internal and external engagement strategy and working at a senior level with major financial institutions.

Operating at a senior level and reporting to the Programme Director, you will possess deep transformation and delivery experience, combined with knowledge and gravitas to engage and influence senior internal and external stakeholders across the UK’s payments industry.

Background information on the Programme

The world of payments is changing rapidly. New innovative technologies are being developed to meet the changing needs but these can give rise to new threats to users of the payments system, and to the stability of that system as a whole. This means that we need ever stronger protections and more resilient infrastructure.

The Real-Time Gross Settlement System (RTGS) lies at the heart of UK payments.  In total, RTGS settles around £600bn of payments each day which is close to the UK’s annual GDP every 3 days.  The RTGS infrastructure is over 20 years old and, despite its excellent operational record, it needs to be modernised and developed to meet today’s needs. Balancing the safeguarding of stability whilst enabling innovation.

The RTGS Renewal Programme has been established to develop the next generation of the Bank of England’s Real-Time Gross Settlement (RTGS) system.  The way payments are made has changed dramatically in recent years, reflecting changes in the needs of households and companies, changes in technology, and an evolving regulatory landscape.  The range of payment providers is growing rapidly.  Given the implications of these changes for the Bank’s mission and for users, businesses and regulators, it is important that the Bank consider how RTGS will need to evolve to meet and shape payments trends in the coming decades.

Job Description

You will be responsible for the development and management of all aspects of transition and cutover for this complex programme and the delivery of internal business change and external industry readiness.   To achieve this, you will need to understand the wider objectives of the Programme in order to demonstrate credibility in your field and be able to influence others at a senior level.  You will develop and maintain effective working relationships with the Programme’s Technical Director, other leads on the programme, the wider programme and portfolio teams, the Technical Delivery Partner and other third-party service providers.

This will include responsibility for:

  • Delivering the four Transition States of the Programme ensuring coordination across technical delivery, internal business changes external stakeholders including CHAPS direct participants. This includes responsibility for the Programme’s overall cutover strategy for the migration to the new system.
  • Leading external stakeholder engagement with the senior external members /future members of RTGS and with other UK payment organisations, and assessing their views to develop a strategy and implementation plan for the Programme that is widely understood and accepted.
  • Implementing the Programme’s industry readiness and assurance strategy to ensure CHAPS direct participants have their own programmes and plans in place to deliver changes required by the Programme and that their progress and delivery risks are reported and mitigated.
  • Overseeing internal stakeholder engagement Develop a strategy to ensure that plans for the Bank’s own internal readiness are developed, that internal senior stakeholders understand the need and scope for changes and that there are appropriate vehicles (projects or other mechanisms) to deliver the necessary changes. This includes the business process transformation and people transition issues for each transition state.
  • Delivering internal business change including development of the Programme’s Target Operating Model and implementation of business change across the four transition states.
  • Sponsoring the programme’s people strategy including development of the Programme’s culture and ways of working and all aspects of talent management, learning and development, diversity & inclusion and succession planning.

The role includes direct line management for 4 senior managers and their teams.  The role will also encompass membership of the Banking, Payments & Innovation Directorate’s Leadership team, helping to shape the Directorate’s overall strategy and culture.

As the Transition Lead you will also ensure:

  • Plans and associated controls are integrated across all aspects of the Programme.
  • Transition State roll-back and fix-forward plans, business continuity and disaster recovery plans are in place.

Role Requirements

Essential criteria:

  • Strong leadership experience including the ability to create and implement a shared vision and delivery of outcomes.
  • Excellent senior stakeholder management skills across multiple stakeholder groups , with the ability to influence business decisions and command credibility at senior management level and engender trust across the team
  • Extensive project and programme management experience from leading complex large-scale transformational change (ideally from both a waterfall and agile perspective and with budgets over £20m)
  • Experience of working on large scale transitions that encompass a high degree of technical and operating model change. Able to determine what good looks like for migration and how to mitigate key risks.
  • Significant experience of delivering business change (including changes to Target Operating Models) working closely and collaboratively with a wide range of teams with examples of successfully troubleshooting and resolving delivery issues.
  • Experience in leading multi-disciplinary teams, developing talent and being a motivational people leader, creating opportunities for their team to excel and develop their talents and being a role model and ambassador for the Bank’s Values
  • Ability to think strategically, using judgement and political awareness to prioritise effectively and work through conflicting requirements

Desirable criteria:

  • Experience of implementing change within the payments industry
  • Experience of working with a 3rd party systems integrator
  • A recognised programme management or business change qualification (e.g. MSP, APMG Change Management Practitioner)

How to apply: 

If you wish to apply for this position, you must submit the following documents:

  • A comprehensive CV setting out your career history, with responsibilities and achievements.

All monitoring data will be treated in the strictest confidence and will not affect your application in any way; you may select ‘Prefer not to say’ if you do not wish to answer any questions.

Please submit your application by noon Monday 14th September.


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