Research Assistant in Money and Credit Group

City Of London, England, United Kingdom

12/18/2024

Data and Analytics Transformation

The Data and Analytics Transformation Directorate (DAT) helps the Bank make the best use of data and analytics to fulfil its mission. Almost everything the Bank does depends on data and our ability to use it effectively. The Bank is prioritising investment to modernise how we manage our data and carry out our analytical processes. DAT comprises four divisions: Advanced Analytics Division; Data Strategy and Implementation Division; Data Transformation Programmes Division; and the Data and Statistics Division.

The Data and Statistics Division (DSD) is the Bank's centre of expertise for the collection, compilation, dissemination, and publication of regulatory and statistical data. As part of this, DSD encourages innovation and promotes quality to support analysis, and policy' and decision-making by the Bank's various committees, as well as UK government departments and international organisations.

DSD collects data from banks and buildings societies, credit unions, insurance companies, regulated mortgage lenders and mortgage administrators. This is done via nearly 40 statistical collections and over 200 regulatory collections. We cleanse a sizeable proportion of these datasets and publish a large volume of statistical data via our interactive database. We support the Bank's policy committees and the Prudential Regulation Authority Board. Our data are used in a number of publications, such as the Inflation Report, Financial Stability Report, Credit Conditions Review, Stress Test Results, FPC Core Indicators, and Quarterly Bulletins. This role sits in the Industrial Team of the Money and Credit Group (MCG).

Job description

The Research Assistant role will support the Team within MCG to ensure the quality and timeliness of data related to deposits from and lending to UK businesses and households. This is an operational role where you will manually investigate unusual data points to check possible data quality issues and communicate with reporting institutions to fix them by acting as a key point of contact. You will also ensure business processes run timely and liaise with internal support areas when issues arise. This will entail building a network of contacts within DSD and beyond, and effective stakeholder management, as you will need to find solutions while keeping stakeholders, including senior managers informed of progress. Additionally, you'll play a key role in implementing lessons learned across the Research Assistant team.

MCG's role as centre of expertise means you should be able to interpret, understand, and provide context for emerging stories in our data. A wider interest in broader macroeconomic themes, a keenness to analyse large data series, and the ability to observe and link patterns across data sets will be useful here.

Alongside the core data assurance element, this role also offers the opportunity to undertake a range of projects. These include (but are not limited to): implementing process improvements - which may call on basic coding and data manipulation skills; undertaking broader analytical pieces of work to understand stories that have emerged from our data sets; and carrying out analyses into the data sets we are responsible for to help further our understanding of any potentially anomalous reporting.

Role Requirements

Minimum (Essential) Criteria

• You have proven professional experience in a context that requires being organised and managing deadlines with competing priorities.
• Demonstrate good interpersonal skills and an ability to build networks and work as part of a team.
• Demonstrated ability to work autonomously and to self-direct learning.
• Demonstrate strong numerical skills and an ability to investigate and draw stories from datasets.
• Demonstrate proficiency manipulating data using Excel and R or Python (or demonstrate evidence of being in the process of learning).
• Interest in understanding broader economic developments and how they translate into statistical reporting.

Desirable Criteria

• Ability to use programming techniques using R or Python to automate and improve data workflow processes.
• A keen interest to explain developments in the data by applying macroeconomic principles.

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.

The role offers the below salary range:

Leeds: £24,240 - £26,000
London: £26,960 - £29,000

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 Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.

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 assessment process will comprise of a practical exercise and one or more interviews.

The closing date for this role is Wednesday 8 January.

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.