Promote the Good of the People of the United Kingdom by Maintaining Monetary and Financial Stability

Promote the Good of the People of the United Kingdom by Maintaining Monetary and Financial Stability

Wednesday, March 20
2:00 PM - 2:40 PM
Room 118-119

The Bank of England is the central Bank of the United Kingdom, established in 1694. Representatives from the Bank’s Data Analytics & Modelling team will discuss the Bank of England's journey to delivering a Big Data capability and how the Hortonworks HDP platform is helping us deliver on our mission statement of “promote the good of the people of the United Kingdom by maintaining monetary and financial stability". We will explore the challenges we've faced, how we have overcome some of these and those that remain to be conquered. We will also present our strategy for the Bank’s future Big Data platform as we look to scale up further in the coming years.

We will focus in particular on our first successful ‘Big Data’ production system. This exists in response to the financial crises of 2008 and the subsequent push to make the derivative markets safer by reducing systemic risk. In Europe this was delivered through the European Market Infrastructure Regulation (EMIR). We will explain the Bank of England’s role in monitoring UK entities within this important market and describe the significant challenges facing our team in building a data analytics platform to facilitate this

Presentation Video


Nick Vaughan
Domain SME - Data Analytics & Modelling
Bank of England
I am currently the Domain SME for the Data Analytics & Modelling Domain. My role requires me to architect Hadoop based solutions for the analysis of large volumes of finance data and outputs from complex statistical models in R/ Python. I work closely with the Domain’s developers and more broadly the Bank’s Data Scientists, Analysts an Econometricians as well as technology staff from Infrastructure, Security, GDPR & Storage.
Adrian Waddy
Technical Lead
Bank of England
Adrian Waddy works in the Data Analytics and Modelling domain within Technology at the Bank of England. He is the current Technical Lead working on the implementation of the next Data Platform designed to provide a further step change in the Banks capabilities to manage and analyse “Big Data”. Previously he has worked on a variety of Data Warehousing and Data Mart projects, mainly delivering functionality to the Prudential Regulation Authority and Financial Stability. Prior to joining the Bank in 2013 Adrian worked in a small company providing platforms to assist car manufacturers in managing and marketing their used car stocks. Different widgets, same analytical and reporting problems! Adrian is not fond of the tube and has a dislike for unreliable trains and so cycles 20 miles at each end of the day to avoid them.