Senior Research Assistant in Monetary & Financial Conditions

at  Bank of England

DEPARTMENT OVERVIEW

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.

MA consists of five divisions plus the Bank’s Agency network and the new Monetary Policy Transformation Unit:

• Current Economic Conditions Division (CECD)
• External Engagement Division (EED)
• Monetary and Financial Conditions Division (MFCD)
• Monetary Policy Outlook Division (MPOD)
• Structural Economics Division (SED)
• Monetary Policy Transformation (MPT) unit
• We are also closely linked to the MPC Unit , which supports the external members of the MPC. As well as a Monetary Policy COO Division which collaborates with senior management to determine the strategic direction and culture of the Monetary Policy governorship and empower the area with the right people, processes, information and technology to deliver that strategy.

Within MA, MFCD produces joined up expert analysis and policy advice on monetary, credit and financial conditions, their relationship with the real economy and the transmission of monetary policy. Critically we use this expertise to design and evaluate the monetary policy toolkit.

MFCD is organised into three teams:

• The Interest Rate and Asset Pricing team extracts policy-relevant information from financial markets and assesses the evolution of financial conditions.
• The Credit, Banking and Finance team analyses credit provision to the real economy, including both bank credit and capital markets financing.
• The Policy Framework Team supports the design and evaluation of the monetary policy toolkit.

We collaborate extensively with other areas of the Bank, including with colleagues in Markets, FSSR and PRA.

JOB DESCRIPTION

We are looking for someone that is enthusiastic and hard-working, and keen to gain exposure to policy work in an exciting, dynamic, and high-profile area of the Bank.
The role combines day-to-day activities, most importantly producing model outputs for internal and external purposes, with contributions to bigger analytical pieces of work and briefings for senior colleagues. You can expect to be involved with data collection and management.
You will work closely with the other members of the RA team to play a key role in assisting analysts and economists with their research projects and policy analysis. The work will be varied, interesting, fast-paced, and challenging.
Depending on your interest and experience, there is scope to develop and demonstrate analytical skills, financial economics knowledge and/or coding skills in the role.

KEY RESPONSIBILITIES WILL INCLUDE:

• Producing charts for the Financial Markets and Credit pre-MPC presentations, as well as for MFCD’s analytical products.
• Updating MFCD’s macro-financial models on a regular basis
• Leading on the production of quarterly Credit Conditions and Bank Liability Survey, with opportunities to contribute to the analysis of the results
• Providing expert data support on a wide range of data sources, including the use of a Bloomberg terminal, and money, credit, and banking data produced internally
• Using coding skills to help us manage, automate, and improve our model infrastructure.