Senior Researcher - London, United Kingdom - Bank of England

Bank of England

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Senior Researcher

-

(

009419

)

Primary Location UK-ENG-London

Job Economics

Organisation MONETARY ANALYSIS & MPC

Job Posting 16-Aug-2023, 3:01:59 AM

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 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

MPOD supports the MPC by helping it agree its view on the outlook for the UK economy and, in light of that, the appropriate path for policy needed to meet the 2% inflation target.

MPOD does this by developing models that shed light on how different parts of the economy behave and interact (Modelling Team), building a forecast for the economy using these models (Forecast Team), and providing policy advice consistent with the forecast (Strategy team).

It underpins this with research in the areas of monetary economics, forecasting and macroeconomic modelling.

The division comprises a Leadership Team a Head of Division and three Senior Managers and around 20 research and policy economists. Our staff includes a mix of genders and ethnicities, parttime and fulltime working patterns and internal recruits as well as experienced external hires. We also maintain a network of academic consultants working on similar topics and responsibilities.

Job description
This is an exciting role at the very heart of policymaking at the Bank. The role offers the opportunity to engage directly with MPC members on questions of monetary strategy.

While our primary policy customers are the MPC, there will also be opportunities to work with other areas of the Bank (especially those serving the FPC).

At its May 2023 Meeting, the Bank of England's Court of Directors commissioned a review into the Bank's forecasting and related processes during times of significant uncertainty.

Part of the role will include, along with others on the team, engaging in the division's engagement with the review.

A key part of the role will be to produce high-quality analysis to feed into forecast round discussions with the MPC on the latest monetary strategy issues.

The successful applicant will also spend at least 50% of their time on research (depending on preferences and background).

While on the team you will:

Present to the MPC on monetary strategy issues, advising the committee on monetary policy and communications.
Assist with the development of models and toolkits to improve the team's analysis.
Link the latest academic thinking on monetary policy to the issues facing the MPC and the wider Bank.
Engage with MPC members and Governors via speeches and briefing.
Conduct original research on BEAR research themes (with an expectation that the jobholder would be seconded to the Research Hub at some point).

Role Requirements

Minimum Essential Criteria

PhDlevel or equivalent training in economics or demonstrated ability to produce high quality, independent research in academic journals.
Excellent analytical skills with capability to be an intellectual leader.
Excellent written and oral communications with an ability to explain complex material to a nonexpert senior audience.
Experience of leading projects and programmes of work with mínimal oversight.
Experience of influencing senior stakeholders in your organisation / field.
A collaborative and inclusive working style, with experience of working with and managing a diverse set of stakeholders.

Desirable Criteria

Knowledge of monetary strategy, macroeconomic models and/or forecasting.

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.

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.

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