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Financial Stability Report Author

Bank of England.
Closing date
29 Jul 2021

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

We are looking for an author to join the Financial Stability Report team. This role might be for you if you enjoy: (i) a fast-paced, fun and supportive environment; (ii) turning complex information and data into a coherent narrative; and (iii) writing clearly for external communication. As the successful candidate, your main responsibilities will be to write sections of the Financial Stability Report and related publications. The ideal candidate would be interested in a broad range of financial stability issues, and also in communicating effectively to key audiences for the Financial Policy Committee (FPC) and the Bank of England.

Department Overview

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 3,600 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.

The Financial Strategy and Risk Directorate (FSSR) is responsible for assessing risks to financial stability from across the financial system and defining the Bank's strategy for responding to them. Key elements of this are: conducting financial stability risk assessment and research across all sectors and markets, to inform decision-making by FPC, PRA Board and MPC; providing support to microprudential supervisors; identifying appropriate policy responses including what macroprudential instruments the Bank needs, and designing the Bank's strategy for their use; delivering and developing the Bank's stress-testing framework; and developing public understanding and awareness of the FPC and establishing and delivering its framework for operation.

Within FSSR, the Bank's Macroprudential Strategy and Support Division (MSSD) supports the FPC in making and communicating its decisions. Our work is structured into three areas: developing the macroprudential framework and providing advice on policy strategy to the FPC; being the Secretariat to the FPC; and authoring the FPC's flagship quarterly publications, including the Financial Stability Report (FSR). Our work therefore is at the heart of macroprudential policymaking in the Bank.

Job description

We are looking to recruit an author for the Financial Stability Report (FSR) Team in MSSD.

The FSR is the flagship product of the Financial Policy Committee (FPC). It sets out the FPC's view of the risks faced by the financial system, the resilience of the financial system to those risks, and any action it is taking to remove or reduce those risks. Effective communication via the FSR is a key way through which the FPC can make its policies more effective; and through it the FPC is accountable to Parliament and the public.

A team of FSR authors, reporting to the FSR Editor, collectively draft the FSR for the FPC. An FSR author is typically responsible for one 'section' during a FSR round.

In non-FSR quarters, the authors will rotate between working on FPC publications and working in relevant FSSR divisions, or in FSSR project teams, to develop analysis to assess the outlook for financial stability and policy options for the FPC. FSR authors can often choose between working on projects related to the chapters they draft and working on separate topics to expand the breath of chapters they can cover in future.

The successful candidate can expect to:
  • Deliver high quality sections of the FSR, or other FPC publications, with limited day-to-day oversight.
  • Generate ideas for how to communicate the FPC's chosen narrative and develop the content and analytical rigour of the FSR.
  • Be tuned into the views of FPC members. Discuss issues with them when receiving their comments on draft chapters.
  • Contribute to preparing the Governor's brief for the FSR press conference.
  • Presenting the main messages of FPC publications to a wide range of internal and external stakeholders.
  • If desired, act as deputy for the FSR editor during FSR rounds - depending on interest this opportunity can rotate between the two authors in the team. This includes helping coordinate with key stakeholders and ensuring the FSR process as a whole runs smoothly.
  • Work in relevant FSSR divisions or in FSSR project teams to develop analysis to assess the outlook for financial stability and policy options for the FPC. Lead on such workstreams when appropriate.
  • Contribute to the FPC's communication strategy, including but not limited to, preparing visual summaries of the FSR for the webpage, and contributing content for use on the Bank's social media pages.

Joining the team provides an excellent opportunity to broaden your understanding of a range of financial stability issues and the challenges faced by policymakers in communicating their messages externally.

The FSR Team is fully committed to diversity and equality for all staff, guided by the Diverse and Talented pillar of the Bank's Strategic Plan. This role can be done part-time, as a part of a job share and/or with flexible working. It may be necessary to work on a full-time basis during the final few weeks prior to publication of the Report - but this can be offset with additional non-working days in non-FSR periods.

Role Requirements

  • Good analytical skills, in order to assess a wide variety of financial stability issues and get to the core point and message.
  • A keen interest in financial stability and in how policymakers communicate effectively. Ability to follow and contribute to the financial stability debate.
  • Excellent communication and drafting skills - particularly the ability to write clearly, in an accessible way, on complex issues.
  • Ability to develop a narrative and take ownership of sections of the Report.
  • Good interpersonal skills and the ability to liaise effectively at all levels in the Bank and externally.
  • Attention to detail. An important part of the role is in ensuring the FSR is free from errors.
  • Ability to deliver, sometimes under pressure, while contributing to a supportive and enjoyable environment. This includes an ability to deliver through others when working on projects outside of the team.
  • The desire and ability to work collaboratively to deliver the team's objectives.

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 .

We continue to build an inclusive culture where everyone can be their whole selves and produce their best work. Our focus on inclusion is intended to build greater diversity in order to reflect the society we serve and be an employer of choice.

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 salary of £59,400

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

T he closing date for applications is 19 August 2021.

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