Overview

In 2021 the Bank started on an ambitious initiative to Transform Data Collection (TDC) from the UK financial sector. The objective is to ensure key users such as policymakers and supervisors get the data they need to achieve their objectives. This means building new capabilities that will transform the way we define, design and collect data. This is no small undertaking given the complexity of the regulatory and statistical landscape.

The Bank of England collects a significant amount of data to help achieve its objectives. The Bank’s data needs are continuously evolving as the policy landscape changes, increasing the volume and complexity of requirements and the approach needed to support them. Historically, new data requirements have been added on a piecemeal case by case basis, leading to a sub-optimal arrangement on how data is organised. We now have the chance to create a new approach to data design to tackle this issue, starting with the data we collect from regulated banks.

As part of this, the Bank also has a Banking Data Review (BDR) underway which seeks to modernise regulatory returns to provide the PRA (Prudential Regulation Authority) with the data and tools it needs to rapidly identify and probe issues, risks and policy questions emerging in the banks we supervise.

We are building enterprise data capabilities, and are recruiting for a (i) Business Project Manager/ Analyst and (ii) TDC-BDR Manager (Financial Risk) to join, shape and deliver this stage of work. If you have role preferences at this stage, please specify in your application. The recruitment team will consider individuals on the basis of their skills, experience and preferences and make the final decision on the best fit of applicants to the roles available.

Job description

We are looking for (i) Business Project Manager/ Analyst and (ii) TDC-BDR Manager (Financial Risk), who have or can quickly develop a very strong understanding of the business and combine this with exceptional people leadership and organisation skills to get us to a world class data design and collection approach including modernised regulatory data returns.

In the Project Manager/Analyst role, you will shape and plan the work to deliver the shared vision for enterprise data design. You will organise and coordinate stakeholders from across the Bank to produce the data design vision. You will build and motivate the team, ensuring the right skills and experience are identified and brought on board. The ability to cut through complexity, span multiple technical domains and apply judgement to focus on what matters most is essential.

In the TDC-BDR Manager (Financial Risk) role you will be leading the delivery of the risk function's input into Banks data strategy. You will seek stakeholders’ input into both programmes to deliver improvements in the Banks regulatory data returns as well as inputting into the TDC programme objectives, including data design. You will work with multiple technical experts across the risk spectrum learning what data is required to supervise risk in the financial system. You will take a leading role in helping shape the best model to manage risk data to effect better use of data across the organisation. As part of this role you will lead on some of the data management functions within the team which include the Bank's stress test data.

In all roles you will be a self-starter, driven and organised. You will create the conditions to enable others to deliver, fostering a strong team ethic, whilst also pitching in hands on at times to achieve results. You will combine business context with change expertise to shape the work towards meaningful outcomes. You will use strong written and verbal communications to convey technical concepts in a simple way to non-technical executives and staff. You strive for clarity and are able to quickly understand differing views and suggest paths to progress amidst competing wants.

These roles suit someone who wants to apply their project management and business analysis skills in a complex domain. The roles will have extensive exposure to multiple stakeholders, internal and external, and requires solid experience navigating through people and domain complexities to deliver change.

These roles will be critical to ensure that we gain clarity on the how, what and when of delivering a new approach to data design, what data the Bank needs to collect which will be massively important in transforming the end to end data process.

Role Requirements

Minimum Criteria

The job holder will need to have:

· Proven project management and business analyst experience, with a track record of successful delivery of business outcomes as well as project outputs, spanning the ‘cradle to grave’ lifecycle of a project

· Ability to develop effective stakeholder relationships and influence business decisions

· Proven experience of building and leading cross functional teams, including the structures required for a team to function effectively

· The ability to communicate effectively, clearly, and confidently both orally and in writing

· Proven experience in project planning, resource, risk and issue management

· A high level of motivation and autonomy in day-to-day work and when acquiring new skills and knowledge

· Experience in managing dependencies across different programmes and initiatives and driving through this complexity to get the right things done.

Desirable Criteria

· Experience of managing or working on projects or major change initiatives in regulation and/or data design and collection

· Experience of different product development lifecycles such as agile, iterative, waterfall or other

· Recognised qualifications in project, business, financial or data domains

· An understanding of the Bank’s data requirements for statistical, supervisory and/or stress testing

· An understanding of the Bank’s and FCA’s data collections systems (e.g. BEEDS and RegData).

· Specialist knowledge, understanding and experience of the Bank of England operations and the data requirements of business areas would be an advantage.

· Knowledge of using collaboration tools including but not limited to Jira and Confluence.

· Experience of managing data/ statistics.

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 £70,900 - £81,810 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.
• 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 Tuesday 02 April 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.