Data Scientist

Data Scientist

The Data and Statistics Division (DSD), part of the Data and Analytics Transformation Directorate (DAT), is the central data division with responsibilities that span production and management of some of the Bank’s core datasets to aspects of data management and data culture that reach into the working lives of almost all Bank staff. This is a time of significant change as the way we collect and manage data, and compile statistics, evolves in the light of the use of new technology with DSD at the forefront. The change draws on a wide range of skill sets, including: data management; data science; operational work; subject matter expertise in aspects of economics, statistics and banking and insurance supervision; and people and process management.

Job description

To ensure that financial sector data that are collected and the statistics produced meet the needs of users across the Bank, and externally, a project is underway to build new infrastructure. The resulting toolkit will help enable the division to collect and process the data and statistics wanted by the Bank through the application of advanced analytic and data science techniques. We are looking for people with an interest in banking sector statistics who want to make a significant contribution towards delivering this vision.

A central part of this role will be to work directly towards delivering the new infrastructure. This will involve working closely with the teams working with the current system – MIDAS – to ensure their current and future analytical and data needs are supported in the new system. The aim is to transform how we manage our data, including building an intuitive model for banking sector statistics that internal and external data users will be able to easily navigate, helping them to serve their own data needs.

To help build the successful applicant’s understand of DSD’s needs, they will also occasionally be involved in the regular statistical production rounds. They will use their inquisitive mind to understand developments in statistics covering banks and building societies lending to, and deposits from, the rest of the economy. They will use statistical and data science techniques to ensure we produce high quality statistics, and also to identify the functionality that the division and Bank will want within the new system.

DSD’s work provides the opportunity to apply skills in tools such as Python, R and Tableau, and also to learn new skills. At the core of the new system will be a data model that helps those producing and using the Bank’s statistics to make the most from them. There will also be significant opportunities for cross-Bank working, including with other areas of DAT, Technology and policy areas.

Role Requirements

Criteria

• You will have a drive to improve how the Bank can use the data we collect to understand developments in the financial system through the use of data science techniques and implementation of a logical data structure.
• Previous experience will demonstrate strong numeric skills and be keen to learn and implement new methods to DSD’s work.
• You will be able to demonstrate experience with tools such as R or Python, and be willing to learn new technologies.
• You will be able to critically assess data, and the process through which raw data is used to produce statistics.
• You will have strong communication and interpersonal skills to ensure stakeholders are informed and effectively feed in to the project.
• You will have excellent workload management skills and an ability to effectively reprioritise. The production of statistics can at times present new, unfamiliar and at times urgent problems.

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.

We are also committed to making workplace adjustments for all of our employees as needed, and also for candidates throughout all stages of the selection process. 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 £45,900 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 11 November 2021.

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