New methods for the Old Lady – how the Bank of England is using advanced analytics

Held on Thursday, May 16


Speakers

  • Paul Robinson (Bank of England)

  • Marcus Buckmann (Bank of England)

  • Nick Bouch (PwC)

  • George Buckley (Nomura)

  • Kevin Gardiner (Rothschild & Co)


Agenda

 

‘Data scientist’ has been called the sexiest job of the 21st century. But beyond the hype, there are several challenges for financial institutions wanting to implement advanced analytics and machine learning. These include data quality, legacy IT and scarce staff skills.

Perhaps surprisingly, one place where these new analytical methods have taken firm root is at the Old Lady. In 2014, the Bank of England set up an Advanced Analytics Division to act as its centre of excellence in data science. The aim is to feed better analysis of emerging trends into the Bank’s decision-making. After five years, what has been achieved? Could this work help head off the next financial crisis, for example?

The Bank’s experience of the challenges of working with ever-evolving technology will be familiar to every City firm, and we’re delighted to have both an expert on data analytics and two leading economic analysts and forecasters on the panel.

Leading the discussion from the Bank will be Paul Robinson, Head of Advanced Analytics, who also has long experience of monetary policy, and Marcus Buckmann, fresh from the Max Planck Institute and co-author of a forthcoming book on machine learning and heuristics (Classification in the Wild, MIT Press). Paul was previously at Barclays Capital, as Global Head of FX Research, and at the ONS.

Paul and Marcus will not have things all their own way. Joining us to respond will be:

  • Nick Bouch, PwC’s financial services leader in Data & Analytics and Advanced Risk & Compliance Analytics. Nick has over 20 years’ experience in banking and capital markets, and his specialisms include regulatory compliance, customer analytics and data-driven transformation programmes.

  • George Buckley, chief UK economist and co-head of European economics at Nomura, which he joined in 2017 from Deutsche Bank, where he was chief UK economist. He has taught economics and written a book entitled What You Need to Know About Economics (Capstone, 2011).

  • Kevin Gardiner, global investment strategist at Rothschild Wealth Management, which he joined in 2014 from Barclays Wealth Management, where he was chief investment officer (Europe). While at Morgan Stanley, he wrote the “Celtic Tiger” report on Ireland (1994) and is author of Making Sense of Markets (2015).

This is bound to be a lively discussion. To join it, please email alex@csfi.org or call the Centre on 0207 621 1056. As usual, there will be wine and sandwiches.

Sincerely yours,

Jane Fuller

Co-Director

CSFI