Data Science Analyst - General Insurance Risk Specialists

• Job Overview: We're looking for a curious and collaborative Data Scientist to turn complex data into actionable insights that shape our understanding of insurance risks. You'll work with modern analytical tools, partner with stakeholders, and explore rich data sources to support informed decision-making. Ideal for someone with hands-on experience—whether through work or an apprenticeship—this role offers the chance to make a real impact in a supportive, inclusive environment.

Department Overview

General Insurance Risk Specialists (GIRS) Department is comprised of approximately 35 risk specialists who are primarily actuaries but also accountancy, reinsurance, climate change and catastrophe risk specialists. We have people at all stages of their careers, including recent graduates, those with a number of years’ experience and those who have had a long career within the General Insurance industry.  Working here is a great opportunity to contribute to public service while influencing the insurance market and insurance regulation. 

Our work covers a wide range of technical areas including (but not limited to) reserving, capital, underwriting and pricing, stress testing, reinsurance, catastrophe risk modelling, exposure management and climate change. As a department, in addition to our work regulating individual insurers, we are expected to provide thought leadership on current market issues and emerging issues. We work collaboratively within the department and with other supervisory departments and areas of the Bank. 

Job description

As a Data Scientist in GIRS, you’ll take an active role in managing key data processes and exploring innovative datasets and tools beyond our traditional approaches.

You’ll collaborate closely with technical experts across teams to ensure our work is impactful, timely, and of the highest technical quality. Your contributions will support both project-specific and sector-wide analysis through:

• Designing, developing, and maintaining tools for data analysis
• Preparing charts and tables for reports and presentations by our Networks and specialists
• Exploring new and diverse data sources to enhance our understanding of the insurance market, including innovative ways to visualise and interact with data

There’s also flexibility to shape the role around your interests—for example, by contributing to broader analytical projects or cross-directorate initiatives. Previous team members have gone on to build diverse and rewarding careers in data science and economic analysis, both within the Bank and beyond.

Role Requirements

(Please do not be put off from applying if you do not meet all the essential criteria in the below). 
 

We expect the following: 

Minimum 

• The ability to analyse and interpret financial information independently, exercise judgement and draw clearly reasoned conclusions.
• Awareness of the financial services industry, its reporting requirements and key regulatory challenges / priorities

Essential 

• Effective relationship management, ability to influence and challenge constructively where appropriate.
• Clear written and oral communication skills and ability to present findings, varying style to suit the audience.
• Experience using standard software tools (e.g. Microsoft Excel)
• Proficiency in one or more programming languages commonly used for data analysis (e.g. R, Python)
• Strong skills in data visualisation, including the ability to create clear and customisable charts and graphs
• Excellent attention to detail and time management, with the ability to balance and prioritise multiple tasks effectively

Desirable

• An interest in insurance and reinsurance, with a willingness to learn more about the insurance market
• Ability to manage and deliver tasks across multiple projects and engage effectively with a range of stakeholders
• Confidence in communicating complex technical topics in a clear and accessible way, using written, verbal, and numerical formats 
• Qualifications in a quantitative subject (e.g. A levels, a bachelor’s degree, or a vocational qualification)

Additional Information - External

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. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this. We are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please complete fully the application form questions as requested. Any incomplete submissions may not be reviewed.

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 minimum base salary of £44,720 to £50,310 per annum in London or £40,240 to £45,270 in Leeds, along with our comprehensive benefits package as follows:

•    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 or decrease your pension 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 insurance.

The closing date for applications is 05 September. 

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.
 

Base Salary: 50,310