Awarded to Vesta Consulting Limited

Start date: Thursday 7 February 2019
Value: £43,200
Company size: SME
Financial Conduct Authority

Data Analytics Pilots on Financial Crime - Data Scientist (Sanctions) - 3 of 3 roles

3 Incomplete applications

3 SME, 0 large

18 Completed applications

16 SME, 2 large

Important dates

Monday 10 December 2018
Deadline for asking questions
Monday 17 December 2018 at 11:59pm GMT
Closing date for applications
Monday 24 December 2018 at 11:59pm GMT


Specialist role
Data scientist
Summary of the work
Phase 1 = 3 pilot projects relating to financial crime:
Support Pilot /POC build of a customizable transactions data simulator, initially for creating a specific type of transaction.
Create taxononmy & database of data (internal and external) to identify firm risk.
Customisation tool to generate data, testing sanction screening tools.
Latest start date
Thursday 7 February 2019
Expected contract length
12-24 months (initially 3 months)
Organisation the work is for
Financial Conduct Authority
Maximum day rate

About the work

Early market engagement
Who the specialist will work with
Working with FCA Data Scientists, with SMEs in financial crime and with some third party data vendors / collaborators
What the specialist will work on
The FCA is running a number of pilots on the use of data science focused on assessing firm effectiveness at detecting financial crime.

This role is for a Data Scientist to create a customisable tool to generate data with which to test sanctions screening tools

Work setup

Address where the work will take place
12 Endeavour Square, London E20 1JN
Working arrangements
Team will be expected to work on-site using FCA IT with occasional visits to third party collaborators where required.
FCA work day is 7 hours (excluding 1 hour lunch break) no weekend work is required.
The FCA does not pay expenses unless in exceptional circumstances and only in so far as it aligns with the FCA employee expenses policy.
Security clearance
Standard FCA security clearance process (typically 2-3 days)

Additional information

Additional terms and conditions
The FCA reserves the right to terminate the Contract at the end of each of Phase. We are currently seeking resource for Phase 1 which is expected to last 3 months. The expectation is that Phase 1 resources will be available for Phase 2 and any further phases as approved by the FCA.

Further details regarding the phases will be made available to shortlist listed bidders.

Skills and experience

Buyers will use the essential and nice-to-have skills and experience to help them evaluate suppliers’ technical competence.

Essential skills and experience
  • Our expectation is that the sanctions monitoring workstream will require data analysis/data science, statistics and record matching skills:
  • Experience with compliance databases such as BVD, Worldcheck, LegalKey, etc.
  • Experience with PEPs, sanctions and negative media screening.
  • Data matching: entity resolution, fuzzy matching, duplicate detection, etc.
  • Cloud computing
Nice-to-have skills and experience
  • Our expectation is that the sanctions monitoring workstream will require data analysis/data science, statistics and record matching skills:
  • Solid understanding of UK and European money laundering regulations, initiatives and directives
  • Exposure to anti financial-crime work within a UK-regulated bank and proven experience of AML/KYC requirements.
  • Experience collaborating with 3rd party vendors

How suppliers will be evaluated

How many specialists to evaluate
Cultural fit criteria
  • Work as a team with our organisation and other suppliers
  • Take responsibility for their work
  • Be transparent and collaborative when making decisions
  • Share knowledge and experience with other team members
Assessment methods
  • Work history
  • Interview
Evaluation weighting

Technical competence


Cultural fit




Questions asked by suppliers

1. Would you consider BPSS clearance?
All 3rd Party Contractors/Consultants or Work Experience people working at the FCA will be required to complete and return security forms and undergo appropriate checks before they are permitted access to the FCA building and/or systems. These forms will be sent once the indivdual's have been selected.
2. Could you please confirm whether the role will be inside or outside of IR35?
This role will be outside of IR35.
3. Please can you confirm if these is a current incumbent in the role?
No, there is no incumbent in this or any of the roles.