• Job Description

  Req#: 22364
  !*!

  We are recruiting for roles across two directorates of the PRA – ARTIS & UK Deposit Takers Supervision (UKDT):

  ARTIS is a new Directorate formed in July 2021 and is formed of:

  • the Authorisations Division, which deals with regulatory transactions where firms apply to carry out PRA regulated activities, or make changes to the activities they undertake;
  • the new RegTech, Data and Innovation Division;charged with enabling the PRA to harness the full power of its data; and
  • International Banks Supervision - the four divisions responsible for the supervision, as a host regulator, of the UK activities of banks, custodians and designated investment firms headquartered in over 50 overseas jurisdictions – including some of the world’s highest profile firms

  The UKDT supervision directorate is responsible for the supervision of over 600 banks, building societies and credit unions. Its aim is to contribute to a safe, sound and competitive UK banking system through delivering effective prudential supervision.

  UKDT has six divisions: Global Systemically Important Banks (G-SIB), Domestic Systemically Important Banks (D-SIB), Mid-Tier Banks (MTB), New & Specialist Banks (NSB), the Large Mutuals and Supervisory Support Division (LMASSD) and Small Mutuals and Strategic Goals Division (SMSG).

  Within UKDT, the Large Mutual and Supervisory Specialists Division (LMASSD) has three units with different responsibilities:

  • The Supervision teams conduct prudential supervision of the largest Building Societies
  • UKDT Specialists has three teams responsible for supporting supervision of Non-Systemic firms with specialist risks assessments in Capital Liquidity & Asset Liability Management and Credit Risk
  • Technical Analysis and Supervisory Support look at UKDT-wide analytics, peer group data and industry communication

  We believe in diversity. We define diversity as both who we are (identity diversity, such as gender or ethnicity) and how we think (cognitive diversity). We are actively seeking the benefits of having a range of backgrounds and characteristics in our teams. Diverse teams are more inclined to consider novel ideas and challenge each other, enabling them to infer cause and effect and to solve problems better and thereby help us to better achieve our mission. Diversity does not mean ticking boxes, it means ensuring we are best able to fulfil our mission of promoting the good of the people of the UK by maintaining financial stability

  Departments Overview

  RegTech, Data & Innovation (RDI) is an agile division at the forefront of delivering analytical excellence across the PRA. RDI takes lead in supporting the development of a world-class RegTech and data strategy, both of which form part of the Banks priorities which were highlighted in the Governor’s Mansion House speech on the Future of Finance.

  RDI liaise with senior leaders internally and externally, and actively works with Central Banks, major tech companies, industry leaders and represent the Bank in a range of meetings in the UK and abroad. RDI manage a diverse pool of projects, and by working collaboratively across the PRA it adopts a find, fix and explore approach to resolving the most complex data problems across the business.

  Technical Analysis and Supervisory Support (TASS) 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 works closely with RDI on analytics projects, data strategy and innovation.

  Job Description

  There are four data scientist roles available in the two technical specialist Divisions within our Supervision Directorates.

  As a Data Scientist within the PRA, you will lead and assist the development of advanced analytics through deployment of data science and artificial intelligence/machine learning techniques to improve a variety of internal business functions related to financial supervision and regulation.

  There are 4 data science roles advertised offering opportunities for different specialisations including data engineering and Azure cloud expertise.

  You will coordinate and feed into a number of key PRA data projects and will have autonomy in implementing the best solutions, including training end users and the development of new analytical tools. The successful candidates will be responsible for challenging the status quo and with fellow colleagues will aim to enhance analytical capabilities across their Directorate. To achieve this, you will need to demonstrate strong command of relevant programming languages (Python, R, SQL), data visualisation techniques (Tableau, Power BI, R Shiny, Streamlit), experience in using Cloud technologies and willingness to continuously improve your knowledge.

  Being part of a team of experienced data scientists you will be contributing to regulatory, financial, exploratory and digital analysis. As part of the role, you will have the opportunity to feed into or lead some of the most important analytical pieces used by your Directorate to ensure the safety and soundness of firms we supervise. Some examples of analytical work (role-dependent) are:

  • Thematic cross-firm analysis to identify outlier firms with emerging risk profiles
  • Deep-dives on specific risk elements (e.g. Capital, Liquidity, Operations, Governance) on an individual firm and peer group level
  • Event-driven analysis during sector or market-wide stresses
  • Analysis of structured and unstructured firm data to support the delivery of supervisory strategic priorities

  In addition, the post-holder 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.

  Working closely with other data scientists you’ll contribute to projects that build and maintain data pipelines

  There is also the potential to enrol in related funded 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. MS Azure).

  Responsibilities

  • Deliver analytical tools and outcomes that allow the Directorates 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, reporting and new insights to support the wider Directorate in identifying data stories and managing risks
  • Collaborate and build relationships inclusively with end-users including supervisors of banks and insurers 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 in the wider PRA
  • Help drive forward the growth, awareness and uptake of RegTech and SupTech tools and technologies (supervisory tech) across banking and insurance 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

  As a minimum, a candidate should be able to demonstrate:

  • Experience in a role that uses computer languages (Python/R) to manipulate data and draw insights from large data sets
  • Experience visualising/presenting data for stakeholders using Tableau or similar data visualisation tools
  • Good analytical skills and ability to synthesise key messages from data, both in writing and verbally
  • Proactive attitude – a drive to learn and master new technologies and techniques developing your data science knowledge
  • 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

  Desirable Criteria

  One or more of the following would also be desirable:

  • Advanced skills in data modelling, ETL, process design and performance optimisation
  • Experience with Microsoft Azure including Azure Cognitive Services, Azure Data Factory, Logic Apps, Azure Functions and Azure storage solutions
  • Experience with MS Power Platform
  • Knowledge of a variety of machine learning techniques (clustering, decision tree learning, neural networks, text analytics / NLP) and their real-world advantages/drawbacks
  • 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

  This specific role offers a base salary of circa £50,630 - £64,170 per annum (depending on skills and experience) on a full-time basis. 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.

  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. (Note that from April 2023 and for the Benefits year 2023/24, this will decrease to 7%)
  • 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 closing date for applications is 9/11/2023.

  The assessment process will comprise of two stages.

  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 the company

  The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based.

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