Policy Economists, Monetary Analysis Directorate

at  Bank of England

The Bank of England is the UK’s central bank. Our mission is to deliver monetary and financial stability for the British people.
The Bank of England is a diverse organisation. Each of its 5,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
Monetary Analysis (MA) provides the core analytic support that underpins the setting of Bank Rate each month by the Monetary Policy Committee (MPC) to meet the inflation target. We are closely linked to the MPC Unit, which supports the external members of the MPC.

JOB DESCRIPTION

We are recruiting for Economists and Senior Economists to join the Monetary Analysis Directorate. Please see Requisition 550 for the equivalent application to Senior Policy Economist roles.
We encourage applicants from a wide variety of professional and academic backgrounds (including data analysis and finance) – you do not need to currently be working as an economist or have an economics degree (see role requirements section below).
This is a directorate-wide recruitment round, and opportunities are available across different divisions and roles, including as new vacancies may arise during, and as part of, the recruitment process.
As a member of the Monetary Analysis Directorate you will contribute to a wide range of challenging policy issues to help support the MPC, and the broader Bank, in achieving its mission.

Responsibilities across roles will differ but could involve:

• Analysing and interpreting micro- and macro-economic data
• Presenting analysis to the Monetary Policy Committee and discussing approaches and key results with Committee members
• Supporting the production of the MPC’s forecasts and policymaking process
• Developing new ways of analysing data
• Contributing to internal notes and external publications

You will work closely with colleagues around the directorate, and the wider Bank. You will have opportunities to engage with MPC members and contribute to the policymaking process. You will also have opportunities to co-author publications with colleagues and/or external academics, for example via Bank Underground or the Staff Working Paper series.
Economist and Senior Economist roles are available, with increasing autonomy and thought leadership at the Senior Economist level. It is common for Senior Economists to have more than 6 years’ relevant work experience and Economists to have more than 3 years’ relevant work experience. This information is intended as a guide to help candidates understand the level of each role rather than a constraint – candidates will be judged against the criteria set out below and not on years of service. If you are unsure which is more suitable for your level of experience, please submit a single application and note in the application questions that you would like us to consider this as part of the assessment. Note also that the Bank runs a Graduate Programme for those with less work experience following a university degree.
We are looking for candidates with strong analytical skills, but you do not need to already meet all the criteria set out. There will be significant opportunities to develop skills in the role, and shape roles to suit individual experience and interests.
We encourage applications both from those with a policy-analysis background or a research background. These roles will be mainly policy-orientated. Candidates with specific technical and/or research skills, or interested in dedicated research time, should consider applying to our Research/Technical Economist roles..
Alternatively, the Bank of England runs a PhD Research Programme, set out here , from which MA is an active hiring area.

Technical skills

• Relevant qualifications : A relevant postgraduate qualification, such as a Master’s degree in economics, finance or other relevant subject, or equivalent work experience.
• Application of expertise: Ability to draw conclusions from varied and conflicting information sources and make recommendations to colleagues.
• Analytical & problem solving skills: Ability to apply analytical approaches to address novel issues.
• [Desired] Application of statistical/economic skills : Relevant experience of working with statistical/economic tools/models to interpret a variety of data sources

Interpersonal skills

• Work independently: Ability to progress own pieces of work with limited managerial oversight.
• Work with others: Ability to work collaboratively and inclusively with colleagues.
• Communicate with impact: Ability to explain complex material and clearly convey key messages from own work, in written and verbal form.
• [Desired] Manage projects: Relevant experience of co-ordinating analytical projects

ROLE REQUIREMENTS

Technical skills

• Relevant qualifications : A relevant postgraduate qualification, such as a Master’s degree in economics, finance or other relevant subject, or equivalent work experience.
• Application of expertise: Ability to draw conclusions from varied and conflicting information sources and make recommendations to colleagues.
• Analytical & problem solving skills: Ability to apply analytical approaches to address novel issues.
• [Desired] Application of statistical/economic skills : Relevant experience of working with statistical/economic tools/models to interpret a variety of data sources.

Interpersonal skills

• Work independently: Ability to progress own pieces of work with limited managerial oversight.
• Work with others: Ability to work collaboratively and inclusively with colleagues.
• Communicate with impact: Ability to explain complex material and clearly convey key messages from own work, in written and verbal form.
• [Desired] Manage projects: Relevant experience of co-ordinating analytical projects.

Responsibilities across roles will differ but could involve:

• Analysing and interpreting micro- and macro-economic data
• Presenting analysis to the Monetary Policy Committee and discussing approaches and key results with Committee members
• Supporting the production of the MPC’s forecasts and policymaking process
• Developing new ways of analysing data
• Contributing to internal notes and external publication