Website Bank of England
Full job description
Job description
The defining characteristic of these roles is to help to push Monetary Analysis (MA) closer to the frontier of model development and policy simulation. In pursuit of this objective, the team will undertake projects that are analytically rich but essentially experimental in nature. If successful, the output of those projects will be available for absorption into the mainstream of the policy process.
An important component of the role will be collaborating with and influencing others, especially in a cultural and intellectual fashion that complements the work of policy-oriented colleagues in other areas of MA.
Role requirements
Successful candidates will be excited by this opportunity to participate in MA’s broader agenda of monetary policy transformation. The structure and governance surrounding that transformation may evolve over time. Successful candidates will need to be resilient to that change, while simultaneously single-minded in the pursuit of analytical excellence.
Minimum criteria
- PhD in economics and/or extensive track record analysing monetary policy from an academic, practitioner and/or financial-markets perspective.
- Minimum of 6 years of relevant experience in this field.
- Commitment to intellectual rigour, while cognisant of the practical constraints associated with conducting policy-relevant analysis in a fast-moving policy environment.
- Demonstrable ability to communicate key analytical insights to internal and external stakeholders, some of whom may be non-specialists.
- Deep insight into the monetary policy process, with extensive experience of interpreting and/or influencing policymakers on substantive macroeconomic issues.
- Collaborative in nature, including where there exists ambiguity over respective roles and responsibilities.
Desirable criteria
- Passion for monetary policy, in theory and/or in practice.
- Desire to build analytical models, but not be beholden to them.
- Ability to commute between classes of models, through space and time.
- Interest in the robustness of monetary policy across multiple models, in addition to the refinement of macroeconomic mechanisms within a given model.
Flexibility to specialise in the pursuit of sound identification, but to generalise in the interests of sound policy advice.
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we’re working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We’ve also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they’re needed.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we’re proud to be a member of the Disability Confident Scheme . If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Salary and Benefits Information
We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.
This role offers a salary of London ranging from £87,750 – £101,250 and Leeds ranging from £79,010 – £91,170. In addition, we also offer a comprehensive benefits package as detailed below:
- A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
- A discretionary performance award based on a current award pool.
- An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice .
The Application Process
Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two stages.
This role closes on 11 October.
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
To apply for this job please visit eoff.fa.em1.ukg.oraclecloud.com.
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