Economists and Senior Economists, Monetary Analysis, Bank of England

Economists and Senior Economists, Monetary Analysis, Bank of England

Employer: Bank of England - Monetary Analysis

Location: London or Leeds, with hybrid and flexible working arrangements available.

Salary: Economists in London from £52,730 to £60,840, Senior Economists from £70,900 to £81,810.

Closing date: 23 Oct 2024

Sector: Banking and Financial Services, Data Science, Public Sector

Role: Analyst, Associate

Contract Type: Permanent

Hours: Full Time

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 5,000 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 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.

Department overview:

The Monetary Analysis (MA) Mission Statement is: We provide expert advice and guidance to the MPC so that it can decide and communicate the right policy strategy to meet its price stability objective.

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

1. Current Economic Conditions Division (CECD): provides a real time view of the current state of the UK economy and the near term outlook.
2. External Engagement Division (EED): leads MA's engagement with the outside world and the rest of the Bank.
3. Monetary and Financial Conditions Division (MFCD): assesses financial, monetary and credit conditions.
4. Monetary Policy Outlook Division (MPOD): assists the MPC in producing its quarterly economic forecasts.
5. Structural Economics Division (SED): delivers medium-term analysis and research on the structure of the UK economy.

The new Monetary Policy Transformation (MPT) unit has been established in 2024 as part of the Bank's response to the Bernanke Review.

We are recruiting for economists and senior economists to join the Monetary Analysis Directorate. We encourage applicants from a wide variety of professional and academic backgrounds.

Responsibilities:

• Analysing and interpreting micro- and macro-economic data
• Presenting analysis to the Monetary Policy Committee
• Supporting the production of the MPC's forecasts and policymaking process
• Developing new ways of analysing data
• Contributing to internal notes and external publications

Economist and Senior Economist roles are available, with increasing autonomy and thought leadership at the Senior Economist level.

Our Approach to Inclusion:

The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability.

We welcome applications from individuals who work flexibly, including job shares and part-time working patterns.

Salary and Benefits Information:

These roles offer a salary as follows:

• Leeds: ranging from £63,800 to £73,620 for Senior Economists and £47,430 to £54,720 for Economists.
• London: from £70,900 to £81,810 for Senior Economists and £52,730 to £60,840 for Economists.

In addition, we also offer a comprehensive benefits package.

National Security Vetting Process:

Employment in this role will be subject to the National Security Vetting clearance process.

The Application Process:

All candidate applications are anonymised to ensure fair hiring practices.

The closing date for applications is 23 October 2024.