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Monetary Analysis directorate
The Monetary Analysis directorate provides expert advice and guidance to the Monetary Policy Committee so that it can decide and communicate the right policy strategy to meet its price stability objective.
Job Description
Monetary Analysis directorate
The Monetary Analysis directorate provides expert advice and guidance to the Monetary Policy Committee so that it can decide and communicate the right policy strategy to meet its price stability objective.
Agency network
Bank of England Agents and their teams operate from 12 agencies across the UK. Up to four agents are based at each agency and they are supported by small administrative teams.
Agents have one-to-one confidential conversations with businesses and community organisations in their area. They hold local events so people can share views and experiences. They meet hundreds of contacts, from small businesses and community organisations to large global companies. They gather insight into all sectors of the economy. The agents find out what conditions are like for businesses and communities. Our agents make sure we have a well-rounded view of economic conditions and prospects across the UK. They help business people and our economists understand each other. They connect our policymakers (across the Monetary Policy Committee (MPC), the Financial Policy Committee (FPC) and the Prudential Regulation Committee (PRC) with what’s happening on the ground. Our agents organise visits for our policymakers across the UK so they can hear the views of businesses and communities first-hand.
Key Responsibilities
- Line management of an Analyst in Data Science and three Senior Research Assistants.
- Work with the Technical Agent for Data Strategy to implement the Data Analytics/ AI and Technology strategy for the Agency Network.
- Lead advanced research and experimentation in AI, including Machine Learning and Generative AI, and statistical modelling
- Develop and implement complex data science solutions, ensuring they deliver measurable business improvements. This will include the development of AI solutions for the analysis of Agency intelligence working alongside Advanced Analytics.
- Work collaboratively with Agents to implement new analytical tools, including scoping and leading projects.
- Work collaboratively with the PAs and other support staff in the Network to implement improvements to the data management, technology and other systems and processes they use.
- Provide technical leadership and mentorship to an Analyst Data Scientist and 3 Senior RA’s.
- Collaborate with business stakeholders in the Agency Network and Monetary Analysis more widely to define objectives, frame problems, and deliver improvements.
- Drive innovation by identifying emerging trends in data science and assessing their applicability to the Agency Network
- Ensure data science solutions align with governance, regulatory, and ethical standards, including working with the Analyst on the governance and application of the Enterprise Data Platform for Agency intelligence.
- Provide leadership to the Analyst and Senior Research Assistants in operationalising innovations in data science.
- The Senior Data Scientist will be part of a peer group in the Agency Network, allowing further integration into broader Agencies discussion and activities.
- The Senior Data Scientist will be a member of the Data and Analytics Team and can get involved in a range of workstreams via membership of a Working Group.
Role Requirements
Minimum criteria
- Excellent analytical and problem-solving skills, with passion, perseverance and flexibility to apply advanced data science techniques to develop robust and valuable data solutions to solve real-world problems in an unfamiliar environment. Meeting business requirements to agreed timetables while leading multiple work streams with limited oversight.
- Expert knowledge in R and/or Python, and how they work with Spark, to deliver critical data science and analytical capabilities in big data platforms.
- High proficiency in analysing big data with cloud services (e.g. Microsoft Azure Services, Databricks).
- Expertise in product ownership to develop high quality analytical products and big data platform capabilities.
- Experience of software development best practices, including unit testing and CI/CD processes.
- Knowledge and experience of using various Large Language Models (LLMs) tools and techniques, including GPT models, Llama, Azure OpenAI etc.
- Strong written and verbal communication skills to engage effectively with colleagues at a range of seniorities and knowledge levels, including translating between business areas and Technology.
- An open and collaborative approach to foster strong positive partnerships with colleagues all over the organisation.
- Strong leadership and management skills with the ability to manage and develop a team consisting of an Analyst Data Scientist and three Senior Research Assistants.
- Thought leadership on data science and AI capabilities
- Proficiency in data visualisation tools (e.g. Tableau, Power BI) and presenting data effectively.
Desirable criteria
- Experience and knowledge of Cloudera Data Platform.
- Change management experience.
- An appreciation of the Bank’s approach to monetary and/or financial policy, with an interest in learning more about how Agency intelligence and data informs this
This is a people management role. You will be responsible for day to day management of the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, coaching and communicating a clear vision to ensure that your staff are productive, engaged and motivated to deliver the area's aims. This will include setting clear goals and smart stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for managing all staff-related matters that may arise including performance, absence and sickness.
Number of direct reports: 4
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.
This role can be based in one of the Agency offices in Belfast, Birmingham, Cardiff, Glasgow, Leeds or London and the jobholder will be required to meet regularly with the wider Data and Analytics Team in a central location (details to be confirmed).
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 £73,760 - £92,160.
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.
The assessment process will comprise of two interview stages.
This role closes on 30 June 2025.
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.Seniority level
- Seniority levelMid-Senior level
Employment type
Job function
- Job functionEngineering and Information Technology
- IndustriesBanking, Financial Services, and Government Relations Services
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