Data Science Analyst – 12 months secondment
Job Description
Job title: Data Science Analyst – 12 months secondment
Company: Bank of England
Job description: Data Analyst secondment in Prudential Policy
The Bank of England is 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 5,000 people are committed to public service.
The Prudential Policy Directorate (PPD) is responsible for designing and implementing prudential regulation to remove or reduce systemic risks, promote the safety and soundness of PRA-regulated firms, and ensure appropriate protection for insurance policyholders.
Department Overview
The Strategy and Policy Approach Division (SPAD) lead prudential policymaking in PPD in line with our vision for strong, accountable, dynamic, and accessible regulation. The division supports the PRA on the identification, selection, and delivery of policy priorities. SPAD informs policy development and implementation through research and analysis. Key research themes are: macroeconomic impact of bank and insurance prudential rules, banks behavioural responses to policy and impact on credit supply, competition among financial firms, UK competitiveness and growth.
The Insurance Policy Division (IPD) works to maintain a strong and coherent prudential regime for UK insurers. The division does this by shaping the international and domestic regulatory regimes and supporting their implementation. A key focus for IPD is research and analysis to inform policy development. Current issues include: the optimal level of financial requirements for insurance; the effect of regulation on insurers’ investment behaviour, the supply of insurance, and risk taking; and the interaction of insurance policy development with the PRAs objectives.
Job description
We are looking to second two scale-G data analyst/scientists to work in the Competition & Quantitative Impact (CQI) team within SPAD in a 12-months data project.
The project is to design and construct a time-series, cross-sectional dataset of regulatory return information on UK life insurers, together with relevant market data. This dataset will support the PRA requirement to do impact assessment of prudential rules that apply to life insurers. The dataset will enable research delivering data relevant for tracking metrics of life-insurance regulation, composition of investment portfolios, life-insurance prices and quantities, balance-sheet, risk, performance and competition.
This is a unique opportunity to work with PPD colleagues developing the data approach, prioritising work, and delivering what matters most to the PRA. You will work in a project that delivers data for the future of UK prudential regulation and contribute to building long-term research and policy analysis infrastructure that will feed into Bank and PRA publications. You will work with researchers and policy colleagues with large experience on data requirements for prudential policy analysis. You will also gain exposure to two diverse and dynamic PPD research areas: insurance and competition & quantitative impact teams!
Minimum Criteria
The position requires familiarity with the Bank’s suite of analytics tools and awareness of the financial sector. As a minimum, you should be able to demonstrate:
- Past work experience using programming languages (e.g., R, Python, SQL, VisualBasic or others) to manipulate data sets; and
- Good analytical skills and an ability to synthesise key messages from data, both in writing and verbally.
Essential Criteria
- An ability to prioritise own workload 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; and
- Pragmatic approach to problem solving, to reach sound judgements with incomplete information and ability to explain them.
Desirable Criteria
- Understanding of the PRA’s objectives and its main supervisory processes;
- Knowledge of the insurance, and in particular the UK regulatory framework;
- An awareness of the regulatory and risk data landscape for insurance.
- Knowledge of statistical techniques and concepts (properties of distributions, statistical tests, and accurate use) and experience with applications;
- Experience visualising/communicating data to colleagues using R, Python, Tableau or similar;
- Experience with insurance reporting and disclosure frameworks;
- Knowledge of data governance principles and data science product lifecycle, including security, privacy, and risk control metrics; and
- Intellectual curiosity and an interest in innovation and data science focused research.
Qualifications
The Bank values diversity and inclusion – we want to reflect the society we serve better; we want our workplace to be inclusive so the best people to work for us. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our .
We are fully committed to having a diverse and inclusive working environment. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Contact us to request accommodation! We partner with the , and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Where a role can be carried out from home, the Bank is working towards colleagues spending at least 40% in the office per month. This is so that we can all have the flexibility offered by home working while benefit from working together in person. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.
As part of our commitment to expand our presence across the UK, this role can be based in either London, the Leeds office, or one of our hubs (Cardiff/Newcastle/Glasgow/Belfast).
We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.
For further information or an informal discussion on the role, please contact Jonathan, Haynes (CQI), Sebastian de-Ramon (CQI) on 0203 461 7297 or David Humphry (IPD) on 07787184518.
The closing date for applications is Thursday 29 February 2024.
Please apply online, ensuring that you answer the application questions, complete the work history, and submit your CV and most recent PRS.
Expected salary: