MONETARY AND FINANCIAL CONDITIONS DIVISION (MFCD) OVERVIEW

Within the Bank’s Monetary Analysis (MA) Directorate, MFCD proactively influences current and future policymaking. We are expert advisers and pioneering researchers on monetary, credit and financial conditions, their relationship with the real economy and the transmission of monetary policy. We use this expertise to innovatively design and rigorously evaluate the monetary policy and wider Bank balance sheet toolkits. We collaborate extensively with colleagues in the Monetary Analysis Directorate and other areas of the Bank across our broad remit. We work particularly closely with Markets Directorate, and also have close links with Financial Stability Strategy and Risk Directorate and the Prudential Regulation Authority.

MFCD is around 35 people in total, with a Leadership Team (two co-Heads of Division, Senior Managers and Advisers), research and policy economists and data analysts. We are organised into three teams:

• The Interest Rate and Asset Pricing team extracts signals from asset prices to understand the underlying drivers of financial market moves, including the shocks hitting the UK economy, how asset prices influence the outlook, and how financial markets are interpreting monetary policy.
• The Credit, Banking and Finance team produces expert analysis on the outlook for UK credit conditions and broad money, and assesses how monetary policy decisions transmit through banks and capital markets to credit conditions.
• The Policy Framework Team (PFT) is focussed on readying the Bank’s monetary policy toolkit and balance sheet for future shocks, collaborating extensively across the Bank on toolkit/balance sheet design and evaluation. PFT also leads on designing and assessing the MPC’s quantitative tightening strategy.

JOB DESCRIPTION

The PFT senior manager (SM) is responsible for ensuring that PFT delivers high-quality analytical work for MPC and other policymakers that is timely, focused and influential, making effective use of MFCD’s research and technical expertise; for supporting team members to develop and move forward with their careers; for helping to drive forward MFCD’s strategic evolution; and for being an effective member of the wider management team in the Monetary Analysis Directorate.
As well as directly influencing MPC, PFT represents MA across a broad range of topics led out of other areas of the Bank, with an extensive array of stakeholders. The PFT SM maintains good sight of relevant developments across the Bank, advising seniors on when and how best to engage.
MFCD benefits from 5 Senior Advisers, 2 of whom predominantly work with PFT. These 2 advisers support the PFT SM through leading on specific topics/areas of expertise, as well as sharing some management responsibilities. The exact split of responsibilities across the PFT SM and Advisers will evolve depending on the experience, skills and preferences of the successful candidate.
Number of direct reports: Around 6, depending on split with senior advisors.

ROLE REQUIREMENTS

You don’t need to tick all boxes, but we are looking for candidates who: