Bank of England

Principal Data Scientist - Advanced Analytics

Job description

Principal Data Scientist - Advanced Analytics

Primary Location UK-ENG-London
Job Research
Organisation 542101 - ADVANCED ANALYTICS
Job Posting 04-Aug-2022, 5:17:59 AM

This is an exciting opportunity to work at the heart of data science, research and public policy. Advanced Analytics is hiring a Principal Data Scientist to craft, evaluate and implement machine learning (ML) and Artificial Intelligence (AI) solutions and other data-driven solutions, with a focus on robust prototyping. We have pioneered the application of new analytical approaches in the Bank of England, such as machine learning, natural language processing, agent-based models, network analytics, and randomised control trials. We’re looking for someone with ML/AI expertise to help us continue pushing the organisation’s analytical frontier to inform policymaking.

Department Overview

Advanced Analytics exists to help the Bank make creative use of new data sources and methodologies to promote the public good.

While central banks can be conservative organisations, our division is not! We work flexibly and entrepreneurially across the entire institution including with economists, supervisors, portfolio managers, payment specialists and technologists. We frequently partner with leading academics, other policymaking bodies and private sector institutions.

Job Description

The jobholder will have the opportunity to:

  • Work collaboratively to identify and deliver innovative capabilities that improve insight, efficiency and the accuracy of decisions by all areas of the Bank
  • Work with the division’s data scientists and managers, offering feedback on colleagues’ code and analysis, assuring that analytical, ethical, security and programming standards are met
  • Learn new skills and acquire new knowledge by keeping abreast of state-of-the-art developments in academia and industry, and apply these on the job
  • Advise the directorate’s management team, providing insight on how to successfully implement a Bank-wide AI strategy
  • Mentor and train less experienced staff on ML/AI without the admin of direct line management

Role Requirements

Minimum Criteria

Advanced Analytics values diversity in all its forms, including in professional backgrounds. The successful candidate will likely be able to evidence the following:

  • Deep knowledge of a range of empirical methods including supervised, unsupervised, reinforcement and deep learning: an understanding of their strengths and limitations, and when to use which modelling approach
  • An understanding of the computational implications of different techniques, how to scale them on parallel and distributed platforms e.g. Spark and the Hadoop ecosystem, and how to deploy them within the constraints of legacy IT environments and business processes
  • An ability to work with people with different backgrounds, for example, data engineers and economists or statisticians, and levels of seniority
  • Highly proficient in writing code in scripting languages such as Python and R, and familiarity with their data science libraries and packages
  • Good at presenting complex concepts in clear (but not over-simplified) terms to non-technical audiences
  • An ability to spot opportunities to re-use of models and code to answer different questions

Desirable Criteria

  • An eye for identifying advances in academia or industry that will extend the Bank’s analytical capacity
  • An established profile and connections with the data science community

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 £74,400-£96,930 per annum depending on capability and experience, 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 September 2022

Interested? If you’re still unsure whether to apply, get in touch! Contact Paul: or Chiranjit:

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


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