Audit Data Analyst
The Bank of England is the central bank of the United Kingdom. Its core purposes are to ensure monetary stability, financial stability, and, through the Prudential Regulation Authority, macro and micro prudential regulation. The Bank also has supervision responsibility for central counterparties and settlements systems.
The Bank’s Internal Audit function has 27 professional staff, and plays a key role in protecting the Bank’s assets, reputation, and sustainability by independently and objectively evaluating the effectiveness of internal controls, risk management and governance processes.
The Bank of England’s Internal Audit (IA) function is looking for an Audit Data Analyst to join its newly formed data analytics team.
This is an exciting opportunity to join a new team tasked with ensuring that internal audits make maximum, effective and smart use of data interrogation and analytics techniques and tools (‘audit analytics’). This will involve designing and conducting novel analysis to inform and support the detailed scope of individual audits, as well as influencing the overall IA approach to analytics.
Key responsibilities of the role are to:
- Be a subject matter expert in the field of audit analytics. Ensure that he/she has sufficient depth and breadth of understanding of data analytics, including emerging technologies and techniques and their use within the industry.
- With limited supervision from the Head of Internal Audit Analytics, scope, plan and complete novel analysis that supports, and drives innovation and efficiencies in, the department’s individual audits (as well as ad hoc projects and activities) – within allocated time and budgets.
- Develop relationships with relevant areas across the Bank as well as a deep understanding of the data, systems architecture and analytics tools used within the Bank. Leverage these tools where possible to perform audit analytics.
- Contribute to the development and implementation of departmental standards, structured methods and tools for audit data analytics.
- Support the Head of Audit Analytics in driving cultural change across IA so that the use of analytics becomes a core component of audit work.
The role also requires the ability to:
- Understand the Bank and its evolving role in the UK financial system, as well as the data and systems architecture that underpin its business processes.
- Voice independent opinions underpinned by objective analysis
- Write precise and readable reports on the analysis performed that clearly convey key messages to senior stakeholders not familiar with the technical detail
- Supervise and coach less experienced members of IA in the use of analytical tools and techniques.
- There are opportunities for secondments and transfers within the Bank following an agreed period within Internal Audit.
There are opportunities for secondments and transfers within the Bank following an agreed period within Internal Audit.
The successful candidate will have an excellent track record in their career to date, which should include experience of delivering high quality analysis that has had impact.
- Proven ability to design and perform different types of analysis (e.g. descriptive, predictive, prescriptive) across a range of data types (structured, unstructured, financial, text etc).
- Experience in writing fully documented code in software/languages such as ‘R’, Visual Basic, Python, SQL, SPSS and the use of visualisation packages such as Tableau and PowerBI.
- Experience with databases including awareness of best practices for data management and data architecture.
- Excellent writing skills – including the ability to explain highly technical analysis and results in a straight-forward manner to senior stakeholders not familiar with the technical detail – and tailors outputs to audience.
- Excellent communication skills, including the ability to openly express views and opinions (and to encourage others to do so).
- Able to work confidently, co-operatively and effectively with others in a team environment.
- Ability to push back and challenge the status quo where appropriate.
- Excellent attention to detail, ensuring that own and other outputs are accurate and supportable the first time.
- Thinks creatively to develop solutions to difficult or complex problems;
- Able to juggle multiple priorities and deliver within pre-agreed deadlines;
- Commitment to personal development and keeping technical skills up to date.
- Comfortable building business relationships and liaising with senior IA management and external stakeholders.
- Experience of performing analytics in an audit context and familiarity with industry-standard tools for audit data analysis (e.g. ACL, IDEA).
- Practical understanding of techniques for processing and analysing big data (e.g. non-relational database structures, fuzzy matching) and machine learning – and how to apply these to solving real-world problems.
- Experience of reviewing/quality assuring analysis and models prepared by others.
- Experience of working in the financial services industry and knowledge of the UK financial services regulatory environment.
- Likely to be educated to degree or higher level in a quantitative, science or financial discipline, or hold a relevant professional accreditation/qualification.
In return the Bank can offer flexible working arrangements in a friendly, yet highly professional working environment. Part-time (at least 4 days per week) applications will be considered.
The work is based in Threadneedle Street in the City of London.
The Bank of England is committed to diversity and equal opportunities.
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