Data Scientist
Bank of England
London, GB
3d ago

Job Description - Data Scientist (003029)

Job Description

Data Scientist-(003029)



Job Posting

25-Jun-2020, 10 : 10 : 44 AM

Department Overview

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

Data and analytics have received a new level of senior attention andbacking in the Bank, following Huw van Steenis' Future of Finance review, theBank's response, and the Governor's Mansion House speech.

The Bank is nowpublicly committed to delivering a "world class regtech and datastrategy". A new Directorate, Data Analytics and Transformation (DAT),headed by Gareth Ramsay, has been created to lead on this.

DAT is the Bank’scentre of expertise for data strategy implementation and the compilation,dissemination and publication of regulatory and statistical data.

We supportanalysis, policy and decision making by the Bank’s Committees, UK governmentdepartments and international organisations.

Key stakeholders for our workinclude MPC, FPC and PRA Boards and our data are used in the Inflation Report,Financial Stability Report, Credit Conditions Review, Stress Test Results, FPCCore Indicators and Quarterly Bulletin.

Decisions made in these Boards and fromthese reports have national economic significance.

DataStrategy Implementation Division

Within DAT, a new division called Data Strategy Implementation Division(DSID) leads the definition and implementation of the Bank's data and analyticsstrategy.

This strategy touches on practically all functions of the Bank, dueto the central importance of data and analysis in our daily work.

It alsoaffects the firms from whom we collect data under statutory powers, thedomestic and international official sector bodies with whom we share our dataand analytics, and the public who receive data and analytics outputs publishedby the Bank.

Through the 2020s we intendto transform the way the Bank defines and collects data, the way it managesdata and its capacity to analyse data, to make our use of data and analytics asinsightful, reliable and efficient as possible.

In addition, DSID leads theoperation of the shared data and analytics services

The Data& Analytics Projects Team

The Data and Analytics Project Pool was set up over a yearago to help address data and analytics challenges across the Bank.

It is apartnership between the Analytics Strategy & Change Team(within the Strategy and ChangeDivision), AdvancedAnalytics and Data Analytics & Modelling (Technology).

We do this throughthe deployment of multi-disciplinary teams that work closely with businessareas to design and implement solutions using a combination of : 1.

newanalytical tools; 2. new and established analytical techniques; and 3.(re-)design of analytical business processes.

Following the success of the project pool overthe past year, the Data and Analytics Project Pool has become a key channel formeeting our Strategic Goal of delivering a world class regtech and data strategy".

AdvancedAnalytics Division

AdvancedAnalytics division was established five years ago. As part of DAT, it exists to help the Bank make creative and effective use ofnew data sources and methodologies to promote the public good.

  • Within thatdivision, the Applied Data Science and Visualisation (ADSV) team leadson delivering innovative solutions to policy questions;
  • advising on theefficient use of technology for data science; and developing andoperationalising data science techniques for wider use.

  • We work on a variety ofcutting-edge projects, for instance applying text analytics to policymakers’speeches; using near real-time data from APIs to monitor the economic impact ofCOVID-19;
  • making 1.5TB of international trade data analytically tractable; andsaving years of colleagues’ time through efficient use of analytical tools.

    Job Description

    This advert is for two similar roles : one within the Data &Analytics project team in DSID, and one within the Applied Data Science &Visualisation team in AA.

    The two areas work closely together, and require verysimilar skills and knowledge.

    In either role, you will be at the heart of avibrant team, bringing core technical skills and taking the opportunity toshape, lead and deliver projects alongside the different areas of theBank.

    As a key part of the Bank's Dataand Analytics strategy you will help deliver valuable business change to theBank by :

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

    Weexpect that strong candidates will help shape their role, but anticipate youwill :

    Scopeand shape data and analytics projects in conjunction with business areas fromacross the Bank and ensure they are aligned with the Bank-wide Data andAnalytics strategy.

    This includesworking closely with the business area to understand the purpose, requirementsand benefits of proposed projects.

    Present and support theprioritisation of project proposals.

    Lead and / or support the delivery of data andanalytics projects as the technical expert and oversee the project plan andteam deliverables.

    Lead and / or support the delivery of pipelines that ingest, store andanalyse data, ensuring that data and analysis are accessible (including viaapps and dashboards).

    Upskill business areas and project volunteersin analytical standards and Data Science tools and techniques.

    Communicate and present the outcomes andlearnings from projects to a wide audience, including senior levels of theBank.

    Continue engagement with business areas followingproject completion, ensuring outcomes and learnings are shared aroundthe Bank.

    Engage with the wider Data & Analytics community(internal and external) to share ideas, techniques and experiences, and work topropagate Data Science skills across the Bank.

    Shapethe future of data and analytics in the Bank by supporting the design andimplementation of the Bank's Data and Analytics strategy, including the new bigdata platform.

    Keep abreast of the latest developments in techniques and technology fordata science, and share that knowledge with Bank colleagues

    Essential Criteria

    Pro-activity and self-starting attitude.

    Excellent analytical and problem-solving ability.

    Proficiency in one or more analytical tools e.g. R,Tableau, Version Control, Apache Spark, etc.

    Interest in data science techniques and understandingof how to use them to answer real-world questions.

    Knowledge of how to maintain data, tools andprocesses to generate reproducible analysis and implement robust and valuabledata solutions.

    Experience of leading pieces of work within a team environment.

    Strong written and verbal communication skills toengage effectively with stakeholders at a range of seniorities and knowledgelevels.

    An open and collaborative approach in order tofoster strong positive partnerships with colleagues all over the organisation.

    Desirable Criteria

    Understand how to shape business requirements intoan appropriate data and analytics project.

    Change management experience.

    Ability to teach others Data Science techniques andtools.

    Knowledge of best practices for analyticalprogramming

    Knowledgeand experience of machine learning techniques

    Knowledgeand experience of databases (relational or otherwise)

  • Ability to present data effectively using clear and appropriate visualisations
  • Knowledge of the Bank’s business areas.
  • Qualifications

    We anonymise applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission.

    Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.

    We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.

    As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits.

    We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.

    This specific role offers a base salary of 45,900 - £50,000 (subject to experience and skillset).

    The total packagealso includes :

  • A non-contributory, career average pension giving you a guaranteed retirement benefit of 1 / 95th of your annual salary for every year worked.
  • A discretionary performance award based on a current award pool and target award of 10%, with a maximum potential award of 25%
  • 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 insurance
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