Market Data Sourcing Specialist

Location: Leeds and London

Department Overview

The Bank’s mission depends on data and analytics, through their role in the Bank's decisions, its operations, and the information it provides to the public. The Data Collection Hub is the central support service for the Bank’s new data collections, and is part of the Data & Analytics Transformation Directorate. It is the front door for business areas to receive guidance and support to help them navigate through all steps needed to source and purchase commercial data. The market data sourcing specialist will be part of the Data Collection Hub team and work alongside the Market Data Services Team.

The Market Data Services Team sits in Data Collections and Publications, and is a key function within Technology. It provides support and development of Market Data systems used throughout the Bank. This includes technical support, project management, contract negotiation and contract management with external vendors, coordinating training and handling the Bank-wide spend on Market Data services, and driving good value for money outcomes for the Bank. The team manages the existing estate of 130+ Market Data Services across 1500 bank users.

Job description

The job holder will be a key representative of the Hub and work with colleagues and delivery partners in other areas of the Bank to deliver a high quality service to ensure staff get the right data, in the right way. The Data Collection Hub and the Market Data Services Team work closely with other IT Teams, business users, Procurement, Legal, external suppliers, and many other partners across the organisation. In addition, the job holder will also support the Hub in improving the overall experience of new data collections through exciting change and continuous improvement work.

The diverse nature, and workload of the team offer a great opportunity for the successful candidate to develop a wide range of skills and experience, in an interesting and challenging environment.

Role Requirements

Minimum Criteria

• Experience in sourcing data, services, and/or products.
• A strong customer service ethos is crucial ensuring efficient and timely delivery.
• Excellent planning and organising skills, including strong attention to detail.
• Problem solving including being able to break down complex requirements into clear options and next steps.
• Experience in building positive relationships with internal and external stakeholders with experience in influencing and negotiating with others.
• Ability to articulate appropriately in writing is crucial as is the ability to clearly document a process.
• Be able to work autonomously and manage own workload appropriately, as well as work comfortably within a team.

Desirable Criteria

• Experience in commercial negotiation with third party suppliers ensuring the best value for money outcomes.
• Experience in on-boarding brand-new suppliers and their services and the vital steps in the process.
• Experience of working in IT and operational environments.
• Understand the legal and commercial basis for the collection of data and their implications for the collection process.

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 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.

We offer a salary of London £40,000-£45,000 and Leeds £36,000-£40,500. 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 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.

This role closes on 22 November 2024.

The assessment process will comprise of two interview stages.

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.