Head of The Digital Pound Project

2 weeks ago


London, United Kingdom Bank of England Full time

**Head of the digital pound project**

**-**
**(**
**008842**
**)**

**Primary Location** UK-ENG-London

**Other Locations** UK-ENG-Leeds

**Job** Banking Operations

**Organisation** 240101 - CENTRAL BANK DIGITAL CURRENCY DIVISION

**Job Posting** 22-May-2023, 9:31:14 AM

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.

We are recruiting for a Head of the digital pound project, located within the Bank of England’s CBDC & Fintech Directorate. 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

**The Project Area**

The Bank of England and HM Treasury recently published a digital pound consultation paper. That paper announced the likely need for a digital pound, and our intention to step up our work during a ‘design phase’. No decision has yet been taken on whether the Bank of England will issue CBDC.

A digital pound, 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.

The CBDC & Fintech Directorate is responsible for analysing the opportunities and challenges presented by CBDC and developing the design of a digital pound. The Directorate’s activities include macroeconomic analysis, work on functional design of, exploration of technology options for a digital pound, and engagement with private-sector stakeholders and international counterparts.

**The Role**

The role holder will be responsible for a multi-disciplinary team of specialists spanning project management, governance, policy, communications, finance and procurement. They will work closely with the CBDC & Fintech Director, Head of digital currency technology, and the wider CBDC management team. Collaboration with senior management across the whole scope of the Bank’s operations will be a focus of the role.

You will be accountable for a range of activities including:

- Strategic planning and project management: overseeing the progress of the project and ensuring outstanding execution.
- Governance: ensuring that the project is properly governed and governance frameworks adhered to, including leading on engagement with Bank of England governance committees.
- Functional design: jointly overseeing the work of the team developing the functional design and user proposition for the digital pound (under a dual reporting line arrangement with the Head of digital currency technology).
- Procurement: overseeing a small team of procurement specialists to devise and execute our procurement strategy, including leading negotiations and overseeing vendor management.
- Communications: overseeing our communications strategy, supported by a small team of communications specialists.
- Finance: managing the digital pound project budget, including close engagement with the Bank’s finance and audit teams.
- Risk management: ensuring risks to the digital pound project and identified and managed.
- Representation: representing the digital pound team both within the Bank and externally at conferences, international meetings and, where required - media.

This is a great opportunity for someone to shape the Bank’s work on a set of issues at the heart of central banking. The role offers a number of areas for career development: it involves the chance to engage with senior leaders, collaborate and work across boundaries, and to represent the Bank of England externally.

**Role Requirements**

**Essential**
- A proven track-record managing complex and high-profile projects.
- Ability to take a strategic perspective, and to plan strategically in an environment of uncertainty, complexity and with multiple dependencies and stakeholders.
- Experience of procurement and vendor management, particularly in relation to technology contracts and vendors.
- Problem solving skills, with the ability to think creatively to resolve challenges, blockages and setbacks.
- Excellent written and oral communication.
- Strong stakeholder management skills.
- Demonstrable ability to work and multi-task in a busy environment, respond quickly to changing situations in complex environments.
- Strong interpersonal and networking skills.
- Ability to credibly represent their organisation externally, including with senior figures.

**Desirable**
- Experience of high-profile projects within the technology, financial or public sectors.
- Experience of working in an innovative environment; and / or knowledge of developing innovative products.
- A good understanding of how money, payments and the fi



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