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Economic Analyst

Bank of England.
Closing date
25 Mar 2021

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Clearance Level
DV, SC, None / Undisclosed
Job Type
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Job Details

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 4,000 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 monetary policy by the Monetary Policy Committee (MPC) to meet the inflation target.

Department Overview

Current Economic Conditions Division (CECD) has the following mission:

To provide the MPC with a timely, compelling and accurate view of the current state of the UK economy, the near-term outlook, and the uncertainties around this assessment.

We study industry trends, aggregate demand, the labour market, firms' costs and prices and inflation. Since the advent of the pandemic, our analysis has drawn on an array of new 'faster' indicators of economic activity and prices, as well as the more traditional business and consumer surveys and official data. We maintain and develop state-of-the-art econometric models, to take stock of the current position, to produce forecasts for the next few months and to identify underlying economic shocks. Our analysis is ultimately judgement-based, however, and we strive to be compelling and convincing as well as accurate.

We comprise a Leadership Team, whose role is to maximise the division's impact, and an Analytical Team, which produces analytical outputs to the highest professional standards. The environment is supportive and offers the opportunity to build up a diverse set of skills.

Job description

As an economic analyst in CECD, you will take active responsibility for delivering our analytical output. You will work closely with other analytical staff, both within the division and beyond, ensuring that our work is impactful and delivered on time and to the highest standards of accuracy and technical quality.

All of our analysts are expected to contribute to the development of our holistic assessment of the economy. Analysts in the division rotate across the full set of our responsibilities. That means that the jobholder can expect to gain experience of the full range of UK macroeconomic indicators, from GDP to labour markets and inflation, get involved in analytical projects and gain considerable experience using the division's toolkit for short-term forecasting.

Monetary Analysis is fully committed to having a diverse and inclusive working environment. This role can be done as part of a jobshare and/or with flexible working.

Role Requirements

We expect the successful applicant to:

Minimum Essential Criteria
  • Have a postgraduate qualification in economics or other relevant subject, or an equivalent level of work experience
  • Be proficient at analysing data, identifying trends and assessing the significance of changes
  • Be able to form and express clear views on economic developments, drawing appropriately on the available information and analysis, and debating those views with colleagues with the aim of reaching a convincing consensus opinion
  • Be capable of producing clear and compelling written commentary and analysis, adapting your style and content to the audience
  • Comfortable delivering at pace and working collaboratively
  • Be capable of producing high-quality analysis to tight deadlines

We anonymise applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed.

As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit.

This specific role offers a base salary of £35,700 plus benefits

The total package also includes:
  • A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked
  • A discretionary performance award based on a current award pool and target award of 10%, with a maximum potential award of 25%
  • A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits
  • 25 days annual leave with option to buy up to 13 additional days through flexible benefits
  • Private medical insurance and income protection insurance

The closing date for applications is Friday 23 April 2021 .

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.
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