Central Bank Digital Currency (CBDC) Solution Architect
Recruiter
Bank of England
Listed on
25th November 2022
Location
London
Salary/Rate
£61100 - £72000
Type
Permanent
Start Date
ASAP
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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. Brief Description We are recruiting for Solution Architects within the Technology team of the Bank of England's Central Bank Digital Currency (CBDC) Unit. This is a high-profile, varied, and exciting area within the Bank. The role offers the opportunity to help shape the potential future of money itself! We welcome applications from a range of backgrounds. The nature of the project means that candidates should be flexible, adaptable and willing to take on a variety of problems with enthusiasm. The role would suit a dedicated solution architect, but could also suit versatile candidates from a range of technical backgrounds. The Project Area Like other central banks, the Bank of England is actively exploring whether it should develop and issue a retail CBDC. A potential CBDC would - like banknotes - be a form of money issued by the central bank which would be available to households and businesses for everyday payment needs but, as the name implies, in a digital format, reflecting that how people make payments is changing. No decision has yet been taken on whether to issue a CBDC. The CBDC Unit is responsible for analysing the opportunities and challenges presented by CBDC and developing the design of a CBDC. The Unit's activities include macroeconomic analysis, work on functional design, exploration of technology options, and engaging private-sector and international counterparts. The Role We are looking for people who can become an influential part of a team of technology specialists, working alongside a wider team of economics and policy focused colleagues. The responsibility of the job holder will be to explore the technology design and architecture options for a potential retail CBDC. This will involve evaluating the technology choices which might deliver the functional and non-functional requirements, and developing a deep understanding and exposition of a (range of) potential architectural model(s) for CBDC, and its underlying design features. The successful applicant will need to: Provide technical guidance, leadership and direction to our CBDC technology work, including advising and influencing senior stakeholders. Understand and interpret strategic and policy drivers around CBDC in order to proactively engage in critical thinking about technology challenges and opportunities. Devise technical solutions to difficult and unique problems independently, with team members or with external authorities as required. Lead small project teams to validate & prototype technical solutions. Identify gaps and investigate new technologies as required for their application for CBDC. Recommend solutions to problems, and explain and rationalise design choices, especially when multiple options are available. The role will also involve interaction with senior internal colleagues, technical experts, external expertise across the industry and academia, and counterparts at other central banks. Role Requirements Essential Experience in conceiving and guiding the development of architectures for highly scalable, resilient and performant systems, through the full lifecycle to production. The ability to set the strategic direction for pieces of technical work. An open minded approach to problem solving, and thinking creatively and critically about solutions. A willingness to advocate strategies and solutions and conduct research providing summarised results and recommendations. Excellent stakeholder management skills, and the capability to synthesise and present technical information to a non-technical audience. Experience of working as the conduit between business and technology functions, demonstrating excellent written and oral communication skills to assure a clear translation of business requirements into functional outcomes. Strong interpersonal skills and a collaborative working style, with experience of effective liaison with various partners. Desirable (we are seeking a mix of technical skills, but would not necessarily expect all of the below) Strong knowledge and understanding of existing payment systems in the UK. Experience working with cryptography, both symmetric and asymmetric and key distribution mechanisms. Exposure to software development projects, ideally within a financial or regulatory environment. Product management experience, or related expertise in areas such as Agile methodology, design thinking, user experience design. Software development experience, including in areas such as API development, database structures, blockchain technology etc. Knowledge of data architecture and different data structures including Distributed Ledger Technology (DLT). Awareness and curiosity about trends across wider technology e.g. fintech, blockchain, cloud, predictive analytics, Big Data, cyber security etc. An interest in CBDC or the future of money. 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, which are summarised here. 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 flexible working patterns. 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. From 6 June 2022, 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, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information' under the ‘Disability Confident Scheme' section of the application. We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed. The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives. This specific role offers a base salary of £61,100-£72,000 per annum, along with our comprehensive benefits package as follows: A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.A discretionary performance award based on a current award pool.
A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
25 days annual leave with option to buy up to 13 additional days through flexible benefits.
Private medical insurance and income protection. The closing date for applications is 5 December 2022. Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.
