Project Manager

London (Central), London (Greater)
£59,400 - £71,730 (subject to experience and skillset)
19 Jul 2019
07 Aug 2019
Job Function
Project Manager
Contract Type
Full Time

We are looking for a high-calibre Project Manager with a strong background in successful project delivery to assume a key role in an 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 Project Manager role is responsible for the end-to-end delivery of projects within the programme. The role includes the motivation and development of the team (up to 15 people) that may be a combination of direct reports or staff working into the project on a matrix basis from other parts of the organisation. Most business projects at the Bank have a significant policy and IT components and a key aspect of the role is to manage delivery across technology teams, subject matter experts, and policy experts from business areas. 

Background information on the RTGS Renewal 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. 


Asthe Project Manager you will be assigned to deliver an enabler project within the RTGS Renewal programme. You will need to understand the wider objectives of the programme, demonstrate credibility in that field and be able to influence others. You will be able to develop and maintain effective working relationships with senior managers, the programme office, the wider project and portfolio teams, technology teams and third parties. 

As the Project Manager you have the authority and are responsible for the delivery of the project on a day-to-day basis including:

  • Initial planning and estimating to support the initiation of different workstreams.

  • Securing the appropriate resources for the workstreams and project team mobilisation and then directing and motivating the project team.

  • Establishing appropriate governance arrangements for the project deliverables, integrating with programme governance.

  • Detailed planning incorporating all external dependencies.

  • Management of the project delivery using a rigorous stage gate methodology (including the definition and execution of test plans, change configuration and service introduction).

  • Proactively monitoring the project’s overall progress, resolving issues and initiating corrective action as appropriate.

  • Lead all aspects of RAID (risks, issues, dependencies and assumptions) including the development of contingency plans.

  • Lead the project’s reporting obligations within the delivery governance framework.

  • Coordinate with other delivery teams to ensure work assigned to them is completed in accordance with the project’s requirements.

  • Engage with internal technology teams, third party service providers or vendors associated with the project. Closely lead their delivery against well-defined cost, time and quality parameters.

  • Conduct post project reviews and close down activities.

The role has a broad responsibility to work across the RTGS Programme Office; Technology and Business divisions to ensure that project deliverables align to the Target Operating model and solution blueprint being delivered by the programme. 

In addition to delivering your specific project assignment you will also contribute to the development of the Bank’s project management capability, by providing input into the continuing development of the Programme Office and the wider project and programme framework, using your practical experience of delivering projects. You may also act as a mentor or coach to more junior team members. 

Job Requirements

  • A track record of successful project delivery throughout the entire project lifecycle.

  • Experience of facilitating decision-making in complex policy environments, including developing the associated decision support frameworks.

  • Experience of translating business requirements into operating model and other functional requirements.

  • Specialist in all aspects of project management including project planning, estimating, budgetary control and RAID management (Risks, Assumptions, Issues and Dependencies).

  • IT delivery experience from working closely with technology providers – including in-house teams – to ensure technology deliverables meet requirements and delivered to time, cost and quality

  • Business change management experience gained from successfully leading the organisational, cultural and stakeholder challenges of a transformation project

  • Excellent stakeholder management skills, with the ability to negotiate, persuade and influence business decisions at senior management level and presents at Investment Board level.

  • Strong organisation skills, with the ability to handle conflicting deadlines and priorities.

  • Able to use judgement and provide sound justification for decisions, tailoring approach to delivery based on experience.

  • Able to work collaboratively across an organisation, building a network of contacts both internally and externally.

  • Clear communication skills (verbal and written); able to represent the project at governance forums or Boards.

  • Strong leadership, people management and team building capabilities, with experience of line or matrix management of teams.



  • A recognised project or programme management qualification e.g. APMP, PMP or MSP
  • Experience of managing projects spanning multiple business areas within an organisation.
  • Experience of delivering projects within the financial services sector

As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit. 

This position offers a base salary of £59,400 - £71,730 (subject to experience and skillset) as well as the following package:

  • 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 insurance.

We anonymise applications so hiring managers will not be able to see your personal information such as name and address when reviewing your submission, including your CV. Please fully complete the application form questions as requested because incomplete submissions may not be reviewed. 

We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice. 

The closing date for applications is 7 August 2019. 

Please apply online, ensuring that you answer the application questions and submit your CV.

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