The Bank of England
We are 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 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.
Where are you going to work?
You will be working for one of the two divisions in our Data and Analytics Transformation (DAT) directorate to make the best use of data and analytics for policy decisions and financial regulations. Pretty much everything the Bank does depends critically on the use of data and analytics, and hence, the Bank has made our work a strategic priority. Data and analytics underpin our decisions, our operations, and the information we provide to the public. As part of DAT, both our divisions help the Bank make creative and effective use of new data sources, analytical tools and advanced methodologies to fulfil the Bank's mission. We do that by working in collaboration with colleagues across the whole of the organisation, as well as external academics and other policymaking bodies.
As part of our teams, you will contribute to the outcomes of national importance today, while preparing the Bank to take on the challenges of tomorrow. We have lots of opportunities for people who want to grow. While central banks are typically conservative organisations, we are not. We have very much a start-up culture but under the umbrella of a big organisation. We need people to contribute their ideas, be entrepreneurial, and take the lead on new areas of work. You can gain broad exposure to the various parts of the Bank, giving you the option to move to other roles within the Bank in future.
We have a supportive culture that empowers people to be the best they can. This culture is reflected in staff survey results. Staff in our division tell us we are particularly good at giving recognition, praise and useful feedback, with 86% of staff saying they would recommend their manager to others. We offer very flexible working arrangements.
Data & Analytics Project Pool (DAPP) Team, Data Strategy Implementation Division (DSID)
DSID leads the Bank in defining and implementing its D&A Strategy. A key part of this is providing the data science and analytics tools, platforms, policies, and support to colleagues across the Bank to help them analyse data and communicate their insights to decision-makers.
The Data & Analytics Project Pool (DAPP)was set up over four years ago to help address data and analytics challenges across the Bank. It is a partnership between DSID, Advanced Analytics and Technology. We do this through the deployment of multi-disciplinary teams that work with business areas across the Bank to design and implement data science solutions using a combination of: our strategic analytical tools; new and established analytical techniques; and (re-)design of analytical business processes. These lead to a variety of interesting projects undertaken including building robust end-to-end analytical pipelines, automating analytical processes, visualising data in novel ways, and modelling techniques to name just a few.
Following the success of the past couple of years, DAPP has become a key channel for supporting our D&A Strategy to make the best use of data to fulfil the Bank's mission.
Applied Data Science (ADS) Team, Advanced Analytics (AA) Division
AA is a division established ten years ago and exists in order to help the Bank achieve excellence as an innovative research and analytics institution. We use optimal data science techniques to answer Bank-relevant questions, facilitate more effective use of granular data sets in the Bank and meet computational challenges when using Big/complex data. We are also driving Bank's AI strategy establishing a cloud enterprise data platform.
Our Applied Data Science (ADS) ADS team leads on delivering innovative solutions to policy questions; advising on the efficient use of technology for data science; and developing and operationalising data science techniques for wider use. We work on a variety of pioneering projects, for instance applying text analytics to policymakers' speeches and public consultations; using near real-time data from APIs to monitor the economic activities across the country; using Large Language Model and generative AI to query across vast number of policy documents; analysing geospatial data to understand the economic impacts of climate risks across the country; analysing blockchain data to understand emerging risks in the financial systems from de-centralized finance and crypto currency; making 1.5TB of international trade data analytically tractable; and saving years of colleagues' time through efficient use of analytical tools.
How do you know if our teams are a good fit for you?
You are
- Focussed on what makes a difference.
- Collaborative and inclusive.
- Innovative and entrepreneurial.
- Committed to iteration and incremental improvement.
You like
- Creating great products and services that make people's lives easier.
- Seizing opportunities and solving problems.
- Learning, honing your skills, and gaining new skills.
- Data and analytics!
You know
- What can be achieved by using data and analytics.
- What must be done to use data and analytics effectively.
Job Description
This advert is for multiple similar roles within DAPP team, DSID, and ADS team, AA. We work closely together and require very similar skills and knowledge.
In either role, 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:
- Lead and/or support the delivery of data science projects (including research 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).
- 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.
- Upskill business areas in analytical standards and data science tools and techniques.
- Communicate and present the outcomes and findings from projects to a wide audience, including senior levels of the Bank.
- Continue engagement with business areas following project completion, ensuring outcomes and findings 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 our new enterprise data platform on the cloud.
- Keep abreast of the latest developments in techniques and technology for data science, and share that knowledge with Bank colleagues
There is also the potential to enrol in related courses of interest or embark on an advanced data science related qualifications, such as Bank-sponsored Apprenticeships and/or MSc in Data Science, or industry-recognised certifications (e.g. Microsoft Azure).
Role Requirements
Essential Criteria
- Pro-activity and self-starting attitude.
- Excellent analytical and problem-solving ability.
- Proficiency in Python and/or R to deliver data science projects.
- Interest in data science techniques and both passion and perseverance 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 colleagues 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.
- Knowledge of best practices for analytical programming.
- General understanding and drive to learn more about using Generative AI particularly via cloud computing platforms.
Desirable Criteria
- Proficiency in data visualisation tools (e.g. Tableau, Power BI) and presenting data effectively.
- 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 and experience of machine learning techniques.
- Knowledge and experience of using various Large Language Models (LLMs) tools and techniques, including GPT models, Llama, Azure OpenAI etc.
- Knowledge and experience of using cloud services to develop analytical pipelines.
- Interest in learning about the Bank's business areas.
- Understanding of software development best practices, including unit testing, along with familiarity with CI/CD processes.
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 salary of circa £50,080 - £57,780 (Leeds) and £55,615 - £64,170 (London). 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. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- 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.
For further information or an informal discussion on the role, please contact Chiranjit: or Scott: .
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.
This role closes on 24th October 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.