Description Data Scientist, RegTech, Data and Innovation Division – LEEDS ONLY ARTIS Directorate Overview The Authorisations, RegTech and International Supervision (ARTIS) Directorate within the PRA 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 RegTech, Data and Innovation Division The four divisions responsible for the supervision, as a host regulator, of the UK activities of international banks, custodians and designated investment firms headquartered in over 50 overseas jurisdictions – including some of the world’s highest profile firms. Department Overview This role is within the RegTech, Data and Innovation Division (RDID), which works to deliver against the PRA Strategic Review objective to make the most of data and technology, consistent with the wider Bank’s Strategic Priority 7 to modernise the Bank’s ways of working. In September 2021, PRC agreed a multi-year programme to ‘deliver a step change in the PRA’s efficiency, effectiveness, and data culture by 2026, through phased investment in tools, technology, processes and skills. Since then, RDID has been working hard with colleagues across the PRA and in the wider Bank to help ensure we are equipped to deliver against that ambition. In 2022, we laid the foundations and multi-year forward plan in the PRA 2026 strategic data roadmap, as well as rolling out early tools and platforms. In 2023, we entered delivery mode for the agreed priority projects within that roadmap. RDID is made up of four teams: Data Governance Team Digital Transformation Team Operational Strategy & Delivery Team Technical Capabilities Team Job Description The Technical Capabilities team within RDID consists of a range of data professionals including data analysts, data engineers, data scientists and specialist data modellers. As a data scientist within the Technical Capabilities Team, 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. 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 candidate will be responsible for challenging the status quo and with fellow colleagues will aim to enhance analytical capabilities across the PRA. To achieve this, you will need to demonstrate strong command of relevant programming languages (Python, R, SQL), data visualisation tools(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 professionals 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 the PRA to ensure the safety and soundness of firms we supervise. 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. There is also the potential to enrol in related 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 PRA 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, models, reporting and new insights to support the wider business areas to identify and manage 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 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 programming languages (Python/R) to manipulate data and draw insights from large quantitative and qualitative 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 Good awareness of software engineering and coding best practices Desirable Criteria One or more of the following would be desirable: Advanced skills in data modelling, ETL, process design and performance optimisation Practical experience with classical NLP techniques and text pre-processing Practical experience building solutions from transformers-based models for NLP problems, e.g. embeddings generation, information retrieval, entity recognition, Retrieval Augmented Generation Experience with Python natural language processing (NLP) and language modelling libraries (e.g. Transformers, Sentence Transformers) Hands-on experience with large foundation models and related frameworks, e.g. model fine-tuning, quantisation/low-rank compression, prompt engineering Experience with Microsoft Azure data scientist stack (e.g. Azure ML, Databricks, cognitive services, OpenAI) 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 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. This role offers a salary of circa £50,080 - £57,780. 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 assessment process will comprise of two stages. This role closes on 27 October 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.
