Bank of England
Research Assistants across Money Credit Group and Data Services Group Teams
How your CV stacks up
Upload your CV to see how well it fits this job role
?%
Department Overview
The Data and Statistics Division (DSD), part of the Data and Analytics Transformation Directorate (DAT), is the central data division. Our responsibilities range from production and management of some of the Bank's core datasets, to aspects of data management and data culture that reach into the working lives of almost all Bank staff. This is a time of significant change as the way we collect and handle data and compile statistics evolves in the light of the use of new technology, with DSD at the forefront. There are four roles available through this vacancy, three in the Money and Credit Group and one in the Data Services Group. Candidates may indicate a preference as part of the application process, although final placement will be based on business need and skills fit.
Job Description
This role will sit within one of the Bank's data-focused groups. Examples of these groups are below.
Money and Credit Group (MCG)
- The research assistant role will help the MCG ensure the quality and timeliness of data. This data relates to monetary financial institutions' balance sheets and their deposits from and lending to UK businesses and households.
- In this role, you will manually investigate unusual data points. You will check for possible data quality issues and communicate with reporting institutions to fix them.
- You will act 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 collaborator management, as you will need to find solutions while keeping collaborators, including senior managers informed of progress.
- Additionally, you'll play a key role in implementing lessons learned across the Research Assistant team.
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
- Carrying out analyses into the data sets we are responsible for to help further our understanding of any potentially anomalous reporting
Data Services Group (DSG)
- The research assistant role will support DSG by ensuring timely and accurate collection of data. This includes statistical and regulatory data from reporting institutions. Reporting institutions include financial entities such as monetary financial institutions (MFIs).
- This is an operational role where you will help supervise data submissions, investigate collection and submission issues, and support queries from internal collaborators and external reporters.
- You will also support the publication of data on the Bank's website, including the flagship publication Bankstats (Monetary and Financial Statistics).
The role will provide opportunities to support operational change and continuous improvement activity, including STRATUS integrations, the replacement of BEEDS, process documentation, testing and improvements to how data collection services are delivered. BEEDS is one of the Bank's current data collection portals used by firms to submit data, MIDAS is one of the systems used to support data validation and processing, and STRATUS forms part of the Bank's future approach to modernising data collection. The role will involve working closely with colleagues across DSG, Technology and business areas, and will offer opportunities to develop skills in process improvement, automation, data analysis and digital tools. To support key operational, publication and data collection deadlines, there may occasionally be a need for an early or late start, with flexibility handled in line with business need and team arrangements.
Reasons to use Rodeo
Start with a chat, not a search bar
Grad scheme, placement, apprenticeship? Not sure what you want yet — that's fine. Your agent talks it through with you and turns "I have no idea" into a shortlist.
It searches the market for you
Every day your agent scans the market matching roles against what actually matters to you, not just keywords on a CV.
Only hits
No noise. No "maybe this fits." Just roles with a clear explanation of why they're right — and where to focus when applying.
The role also offers an excellent opportunity to participate in high profile work contributing to the calculation of the benchmark SONIA rate, published daily at 9am. This may include some early morning starts and provides exposure to collaborator management across the Bank and with external financial firms, the key task here is to plausibility check SONIA-eligible, unsecured and secured trades.
Role Requirements
Minimum Criteria
- 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.
Essential Criteria
- 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.
- 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.
- Familiarity with data visualisation tools (e.g. Power BI) and an interest in developing effective data storytelling skills.
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've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.
Get help with your application
Your very own career expert that helps elevate your application to the next level.
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
Location: London or Leeds
Salary range:
- Leeds - £25,760 - £29,980
- London - £28,640 - £32,220
In addition, we also offer a comprehensive benefits package as detailed below:
- Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time.
- A discretionary performance award based on a current award pool.
- An 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.
This role closes for applications on Friday 28 August.
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.
“It took my CV and asked me questions relevant to understanding what kind of jobs to suggest for me. Suggestions were almost perfect. Jobs were exactly what I’ve been looking for.”
Jessica, London
Skills
Location