Company: Bank of England
Location: Leeds, United Kingdom
Employment Type: Full-time and Part-time
Description:
Job Description
UK Deposit Directorate Overview
The UK Deposit Takers Supervision Directorate (UKDT) is responsible for the supervision of over 600 banks, building societies and credit unions.
The directorate is split into the following six divisions which focus on delivering effective and proportionate prudential supervision: Global Systemically Important Banks Division (G-SIBs); Domestic Systemically Important Banks Division (D-SIBs); Mid-Tier Banks Division (MTB); New & Specialist Banks Division (NSB); Large Mutuals and Supervisory Specialists Division (LMASSD); Mutuals, Policy and Resilience Division (MPRD).
Our teams work together as one UKDT to promote the safety and soundness of all UK deposit takers.
Within that, the LMASSD has three areas with different responsibilities:
• Prudential supervision of the largest UK building societies
• UKDT Specialists teams offer cross-directorate capital, liquidity, and credit support.
• Technical Analysis and Supervisory Supports (TASS… team provides specialist data analytics and other cross-firm thematic work.
Team Overview
The TASS team supports UKDT to deliver effective supervision by enabling firm-level, cross-firm and sector-wide views of risk and key data and co-ordinating UKDT’s response to crisis events.
TASS is part of a Hub & Spoke network of data scientists, led by the PRA’s RegTech, Data and Innovation Division (RDID). The aim of the network is to help deliver the PRA 2026 strategic data roadmap and transform the use of data in the PRA. TASS collaborates closely with RDID on cross data science and analytics projects, data strategy and innovation.
Job Description
An exciting opportunity has arisen for a Data Scientist within the TASS team. In this role, you will lead and assist the development of advanced analytics through the deployment of data science and artificial intelligence/machine learning techniques. The aim is to improve a variety of internal business functions related to financial supervision and regulation . In addition, you will contribute to the PRA and Bank-wide agendas on improving data quality at firms, increasing digital skills, and embedding AI/ML techniques throughout the PRA’s analytical suite. The role offers a fantastic opportunity to improve your understanding of finance and regulation.
You will coordinate and feed into several key data projects in UKDT and the PRA to ensure the safety and soundness of the firms we supervise . You will have autonomy in implementing the best solutions, including training end users and the development of new analytical tools. The successful candidate will be responsible for challenging the status quo with fellow colleagues and will aim to enhance UKDT’s data culture and capabilities.
To achieve this, you will need to demonstrate experience in some or all relevant programming languages (Python, R, SQL) and data visualisation packages and software (R Shiny, Streamlit, Power BI, Tableau); and a willingness to continuously improve your knowledge. Experience using Cloud technologies (Azure) and hosting applications on enterprise platforms (Posit) is desirable.
There is also the potential to enrol in related courses of interest or embark on advanced data science related qualifications, such as Bank-sponsored Apprenticeships and/or MSc in Data Science, or industry-recognised certifications (e.g. MS Azure Certifications).
Responsibilities
• Deliver analytical tools and outcomes that allow UKDT to work more efficiently – whether in their use of data, automation of regular tasks, or new and innovative ways to model and visualise data.
• Produce advanced data analysis, models, reporting and new insights to support the wider business areas to identify and manage risks.
• Collaborate and build relationships inclusively with end-users including supervisors to understand their needs and ensure tools meet those needs.
• Keep abreast of the latest developments in the field of data science and share knowledge to a range of technical and non-technical audiences.
• Help drive forward the growth, awareness, and uptake of RegTech and SupTech tools and technologies across UKDT supervision. This may include presenting ideas or explaining new products/tools to both senior committees and frontline supervision; or contributing to PRA’s Research Agenda on SupTech/RegTech.
• Attend technical events outside the PRA with industry stakeholders and other central banks / regulators.
Role Requirements
Minimum Criteria
• Experience in a role that uses programming languages (Python, R, SQL) to draw insights from large structured and unstructured data.
• Experience visualising/presenting data for stakeholders using data visualisation tools (R Shiny, Streamlit, Power BI, Tableau).
• Knowledge of machine learning algorithms, concepts, and packages.
• A proactive approach to learning new technologies and advancements in Data Science.
• Good analytical skills and ability to synthesise key messages from data, both in writing and verbally.
• Ability to organise own workload independently, or as part of a team, to meet business requirements on time.
• Good inter-personal skills and experience of working in a team, including evidence of building effective stakeholder relationships, having personal impact, and influencing abilities.
• Good awareness of software engineering and coding best practices.
Desirable Criteria
One or more of the following would also be desirable:
• Knowledge and/or experience implementing deep learning and NLP models.
• Experience of deploying machine learning in production.
• Experience with Microsoft Azure data scientist stack (e.g. Azure ML, Databricks, cognitive services, OpenAI)
• An interest in financial markets and regulation and keenness to learn about financial concepts and metrics.
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we’re working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We’ve also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they’re needed.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we’re proud to be a member of the Disability Confident Scheme . If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Salary And Benefits Information
We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.
This role offers a London salary of circa £55,615 – £64,170 and £50,080 – £57,780 for Leeds
In addition, we also offer a comprehensive benefits package as detailed below:
• 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 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
• 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
• Private medical insurance and income protection.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice .
The Application Process
Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two interview stages. (Amend and add brief details if relevant, such as interview/assessment dates or process for your specific role)
This role closes on 1 November 2024
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
About Us
We are the UK’s central bank – and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.
Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people’s money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work.
It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.
There’s much to gain from working with us – from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.
Join us and find a bank like no other. Together, we can make a difference.
The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you’re successful we’ll use it to offer you a position and onboard you to join the Bank.
If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice
Source: LinkedIn
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