Bank of England

Data Scientist

Job description

Data Scientist

- (006043)
Primary Location UK-ENG-London
Job Research
Job Posting 07-Jan-2022, 7:26:50 AM

Department Overview

The Bank’s mission depends on data and analytics, through their role in the Bank's decisions, its operations, and the information it provides to the public.

Data and analytics have received a new level of senior attention and backing in the Bank, following Huw van Steenis' Future of Finance review, the Bank's response, and the Governor's Mansion House speech. The Bank is now publicly committed to delivering a world class regtech and data strategy. A new Directorate, Data Analytics and Transformation (DAT) has been created to lead on this. DAT is the Bank’s centre of expertise for data strategy implementation and the compilation, dissemination and publication of regulatory and statistical data. We support analysis, policy and decision making by the Bank’s Committees, UK government departments and international organisations. Key stakeholders for our work include MPC, FPC and PRA Boards and our data are used in the Inflation Report, Financial Stability Report, Credit Conditions Review, Stress Test Results, FPC Core Indicators and Quarterly Bulletin. Decisions made in these Boards and from these reports have national economic significance.

Data Strategy Implementation Division

Within DAT, the Data Strategy Implementation Division (DSID) leads the definition and implementation of the Bank's Data and Analytics (D&A) strategy. This strategy touches on practically all functions of the Bank, due to the central importance of data and analysis in our daily work. It also affects the firms from whom we collect data under statutory powers, the domestic and international official sector bodies with whom we share our data and analytics, and the public who receive data and analytics outputs published by the Bank.

Through the 2020s we intend to transform the way the Bank defines and collects data, the way it manages data and its capacity to analyse it, to make our use of data and analytics as insightful, reliable and efficient as possible. In addition, DSID leads the operation of the shared data and analytics services that mean colleagues can harness the power of data and analytics in their ‘business as usual (BAU)’ work today.

The Data & Analytics Projects Team

The Analytics Enablement Hub (AEH), provides Bank-wide analytics strategy and the support needed to help colleagues realise the potential of our data, and the analytical tools and platforms available to them. The AEH is a virtual team composed of colleagues from different areas across the Bank. They collaborate together to provide a cohesive, easy to access, supported self-service model utilising the skills and expertise we have. The core teams within AEH comprises of teams from DSID (Data Analytics and Transformation) and Data and Analytics Modelling (Technology), but work closely with key stakeholders in the business areas of the Bank.

The Data and Analytics Project Pool was set up over two years ago to help address data and analytics challenges across the Bank. It is a partnership between the Analytics Enablement Hub (within the Data Strategy Implementation Division), Advanced Analytics and Data Platforms (Technology). We do this through the deployment of multi-disciplinary teams that work closely with business areas to design and implement solutions using a combination of: 1. new analytical tools; 2. new and established analytical techniques; and 3. (re-)design of analytical business processes.

Following the success of the project pool over the past couple of years, the Data and Analytics Project Pool has become a key channel for meeting our Strategic Goal of “delivering a world class regtech and data strategy.

Job Description

You will be at the heart of a vibrant team, bringing core technical skills and taking the opportunity to shape, lead and deliver projects alongside the different areas of the Bank. As a key part of the Bank's Data and Analytics strategy you will help deliver valuable business change to the Bank by:

  • helping to unlock the value of our data and enabling the creation of new insights and data-driven decisions;
  • contributing to significant improvements in the efficiency of our analytical processes;
  • and acting as a role-model for best practices and propagating data science capability to the wider Bank and in industry.

We expect that strong candidates will help shape their role, but anticipate you will:

  • Scope and shape data and analytics projects in conjunction with business areas from across the Bank and ensure they are aligned with the Bank-wide Data and Analytics strategy. This includes working closely with the business area to understand the purpose, requirements and benefits of proposed projects.
  • Present and support the prioritisation of project proposals.
  • Lead and/or support the delivery of data and analytics projects as the technical expert and oversee the project plan and team deliverables.
  • Lead and/or support the delivery of pipelines that ingest, store and analyse data, ensuring that data and analysis are accessible (including via apps and dashboards).
  • Upskill business areas and project volunteers in analytical standards and Data Science tools and techniques.
  • Communicate and present the outcomes and learnings from projects to a wide audience, including senior levels of the Bank.
  • Continue engagement with business areas following project completion, ensuring outcomes and learnings are shared around the Bank.
  • Engage with the wider Data & Analytics community (internal and external) to share ideas, techniques and experiences, and work to propagate Data Science skills across the Bank.
  • Shape the future of data and analytics in the Bank by supporting the design and implementation of the Bank's Data and Analytics strategy, including the new big data platform.
  • Keep abreast of the latest developments in techniques and technology for data science, and share that knowledge with Bank colleagues

Role Requirements

Essential Criteria

  • Pro-activity and self-starting attitude.
  • Excellent analytical and problem-solving ability.
  • Proficiency in one or more analytical tools e.g. Python or R (Python preferred), Tableau, Version Control, Apache Spark, etc.
  • Interest in data science techniques and understanding of how to use them to answer real-world questions.
  • Knowledge of how to maintain data, tools and processes to generate reproducible analysis and implement robust and valuable data solutions.
  • Experience of leading pieces of work within a team environment.
  • Strong written and verbal communication skills to engage effectively with stakeholders at a range of seniorities and knowledge levels.
  • An open and collaborative approach in order to foster strong positive partnerships with colleagues all over the organisation.

Desirable Criteria

  • Understand how to shape business requirements into an appropriate data and analytics project.
  • Change management experience.
  • Ability to teach others Data Science techniques and tools.
  • Knowledge of best practices for analytical programming
  • Knowledge and experience of machine learning techniques
  • Knowledge and experience of databases (relational or otherwise)
  • Ability to present data effectively using clear and appropriate visualisations
  • Knowledge of the Bank’s business areas.

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 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 £45,900 - £59,040 per annum (dependent on experience and skillset), 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 28 January 2022.

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

Please let the company know that you found this position on this Job Board as a way to support us, so we can keep posting cool jobs.