Central Bank Digital Currency

2 weeks ago


London, United Kingdom Bank of England Full time

**Central Bank Digital Currency (CBDC) Senior Specialist**

**-**
**(**
**008256**
**)**

**Primary Location** UK-ENG-London

**Job** Banking Operations

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

**Job Posting** 09-Jan-2023, 5:07:54 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.

**Senior CBDC Specialist, Functional Design, Central Bank Digital Currency Unit**

**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. In the coming weeks, in conjunction with HM Treasury, the Bank of England will be issuing a Consultation Paper setting out an assessment of the motivations and design choices for a potential UK CBDC. No decision has yet been taken on whether the Bank of England will issue 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 of CBDC, work on functional design of CBDC, exploration of technology options for CBDC, and engagement with private-sector stakeholders and international counterparts.

**The Role**

This role sits in the Functional and Engagement team which undertake policy analysis around potential CBDC design and lead our domestic and international external engagements.
- Working with the Bank of England's International Directorate and other UK authorities as needed, to influence our contribution to multilateral workstreams relating to CBDC (for example, within the G7, G20 and Bank for International Settlements (BIS)).
- Playing a leading role in shaping the Bank’s strategy and engagement on CBDC with the Group of central banks working with the BIS on CBDC. The group is co-chaired by the Bank of England’s Deputy Governor for Financial Stability, Jon Cunliffe and Cecilia Skingsley, Head of the BIS Innovation Hub. The roleholder would:

- Support Jon Cunliffe in ensuring the smooth running of the group in terms of organisation, work plans and stakeholder management, and
- Support the central bank representatives on this group deliver innovative analysis that progresses global CBDC research.
- This will involve actively participating in analytical projects and contributing to the drafting of reports, some of which may be released publicly.
- Ensuring that emerging insights on CBDC by international groups or individual central banks are given consideration in our own CBDC project.
- Owning and coordinating some of the Bank of England’s key bilateral relationships with other central banks on CBDC.

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 internationally.

**Role Requirements**
- Essential_
- Excellent written and oral communications with an ability to explain complicated material in succinct and easy to understand ways.
- Experience of working flexibly across different work streams and prioritising to set timelines.
- Experience in policy development and an ability to set and influence agendas and workplans.
- Interpersonal skills and a collaborative working style.
- Ability to credibly represent their organisation externally, including with senior figures.
- Desirable_
- Previous experience of work with international organisations or groups.
- A good understanding of how money, payments and the financial system could be reshaped by new technology.

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



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