In Financial Market Infrastructure Directorate (FMID), you will work in a directorate at the heart of the Bank, responsible for supervision, policy and research on the infrastructure that sits at the core of the financial system. We offer a unique and rewarding place to work, combining supervision, policy and technical risk functions in one highly-collaborative directorate and undertake work with strong links into numerous other parts of the Bank and international regulators. For more information on our work, see our most recent annual report available here .
FMID is committed to ensuring diversity within the Directorate: diversity of skills, perspectives and background. We support flexible working and a number of its staff work part time.
The FMI Data team is responsible for the use, access and management of the FMI datasets. These including three of the Bank of England's 'big datasets': the daily transaction level data collections covering derivatives (EMIR) and repo and reverse repos (SFTR) done via Trade Repositories (TRs) and the CCP supervisory data collection. The team is divided into two collaborative functions: Analytics and Visualisation; and Data Science & Technology.
The team's vision is for the datasets we own to be fit for purpose and used efficiently to prompt and inform Financial Stability and Monetary Policy analysis and supervision of firms across FMID and the wider Bank.
The team's strategy to deliver this vision is based around 5 pillars:
- Ensuring the right data continues to be collected
- Enabling data to be used efficiently and effectively
- Improving data quality
- Delivering impactful analysis and streamlined reporting for FMID
- Facilitating the use of the data across the Bank
We are recruiting a manager to lead the Analytics and Visualisation's function of the FMI Data team. The manager will report to the FMI Data team's senior manager.
This role offers a great opportunity for the successful applicant to drive the use and development of data analytics and visualisation (A&V) in FMID, as well as the wider use of the FMI datasets across the Bank. This contributes directly to the Bank's financial stability objective, with the data frequently reflected in the Bank's Financial Stability Reports. A&V is playing an ever growing critical role in the Bank, and specifically in FMID, to support evidence-based supervision and policy making with respect to FMIs domestically and internationally. You will act independently, apply analytical excellence, and be the recognised point of contact on the FMI datasets.
You will have a key role to play in delivering all aspects of the team's strategy, with a particular focus on pillars 1, 4 and 5. Key responsibilities are:
- This is a people management role with 4 direct reports: three data analysts and one research assistant. 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;
- Ensuring the UK's derivatives and SFT reporting regimes remain fit for purpose, supporting the Bank's objectives, working with the FCA to develop and amend regulation as needed. Also working with international colleagues in the development and adoption of global data standards.
- Understanding how the FMI datasets can be used to deliver analysis and monitoring to support policy making with respect to FMIs and the Bank's Financial Stability and Monetary Policy objectives;
- Engaging with the Bank's wider data analytics community to make the best use of the Bank's new data infrastructure and contribute to the evolution of Bank's use of data;
- Developing, using and embedding A&V capabilities within the supervisory, risk and policy teams in FMID to support FMID's supervisory and policy responsibilities;
- Ensuring the timely and accurate delivery of FMID's reporting obligations;
- Being part of the FMI Data's management team, helping to develop the team's strategy and future work plan, and facilitate ways of working within the team consistent with the Bank's core values.
- Working closely with the Data Science & Technology function in the team, collaborating on data usage strategies and analytical requirements. Communicating and giving guidance on policy updates to ensure that the technical pipelines remain fit for purpose.
To deliver the above you will be regularly engaging with a wide range of stakeholders, internally across the Bank and externally in both industry and other financial authorities, domestic and internationally, Externally, these include the FCA, HMT, TRs, CCPs, ECB and BIS. Minimum Criteria
- Excellent analytical skills and proven record of applying them to carry out data-driven analysis, e.g. economic, financial or other relevant technical subjects, in the public or private sector. In particular the ability: i) to effectively use datasets to inform policy making or strategic business decisions; ii) make recommendations based on sound and compelling arguments;
- Experience in line managing or project managing staff working on analytical issues;
- Effective verbal and written communication skills, including experience of advising senior, non-technical staff on the findings and policy or strategic implications of data analysis;
- The ability to work flexibly, acting independently and dynamically in progressing work, prioritising a varied workload without close supervision
- Good stakeholder management skills. In particular, the ability to engage confidently and collaborate effectively with internal and external stakeholders in order to push forward objectives;
- A passion for data and a desire to use it to make a difference to the Bank's mission
- Good working level knowledge of financial instruments and markets, in particular derivatives, securities financing instruments, and / or CCPs;
- Experience in analysing and visualising economic or financial data using R (or other programming languages, e.g. Matlab and Python), visualisation tools such as Tableau and / or experience in interrogating and manipulating 'big data' / complex datasets.
- Familiarity with the regulation underpinning the TR data collections and the ability to read, evaluate and give guidance on technical guidelines.
Based in FMID, this is a very outward facing role. You will build close working relationships across FMID and the Bank: with Legal, International, Financial Stability Strategy and Risk, Markets, Data and Analytics Transformation, and Technology directorates.
Learning about financial market infrastructure can also set you up for your career within the wider Bank, as shown by the fact that a large number of senior people across the Bank have spent time in FMID, and it is a good way to understand the interlinkages right at the heart of the financial system. We anonymise applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.
We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.
As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit. This specific role offers a salary of £59,400 - £74,160 (subject to experience and skillset)
The total package also includes:
• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked
• A discretionary performance award based on a current award pool and target award of 10%, with a maximum potential award of 25%
• A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits
• 25 days annual leave with option to buy up to 13 additional days through flexible benefits
• Private medical insurance and income protection insurance The closing date for applications is 22 August 2021.
Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.