4 x Research Assistants across Money Credit Group and Data Services Group Teams

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; and 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. 

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.