Details Reference number 348639 Salary £39,500 - £48,720 London: £42,500 - £48,720 / National: £39,500 - £45,720 A Civil Service Pension with an average employer contribution of 27% GBP Job grade Senior Executive Officer Contract type Permanent Loan Secondment Length of employment This post is available on a permanent basis, or on a 2 year loan or secondment Business area HMT - Financial Stability Type of role Economist Working pattern Flexible working, Full-time, Part-time Number of jobs available 1 Contents Location About the job Benefits Things you need to know Apply and further information Location This post can be based in London (1 Horse Guards Road) or Darlington (Feethams House). About the job Job summary About HM Treasury If youre interested in making a difference to peoples lives, the Treasury can offer you an exciting opportunity to influence decision making that affects the whole of the UK. Working at the heart of government, we collaborate across government to promote responsible public spending and drive strong and sustainable economic growth. Our work ranges from protecting customers through the regulation of the financial sector, helping to reduce carbon emissions and creating a greener economy, to promoting British trade around the world and supporting people across the country on jobs, growth and more. HM Treasury is proud of a diverse and inclusive work environment, committed to fairness and the promotion of equality of opportunity for all. We know that having a range of experiences, ways of working and thinking makes us stronger and better at developing policy that reflects the needs of every community. We embrace different views and experiences and value the new perspective that people from a variety of circumstances bring to the work we do. We welcome applications from candidates who have not previously worked for the Civil Service, mid- and late-career changers with transferrable skills, people from all backgrounds and circumstances regardless of disability, gender, age ethnicity, LGBT identity and socio-economic status. We are part of the Darlington Economic Campus, a pioneering new cross-government hub which brings people together to play an active role in the most important issues of the day whilst working closer to the communities we serve. The campus provides the opportunity for people from all over the UK to help shape the future of the country, and our flexible working practices ensure you can collaborate effectively with our partners. Its central government, made more accessible to you About the Group The Financial Stability Group advises government on ensuring the stability of the UK financial system and economy. We track new and existing risks to the financial stability of the UK and the global financial system, taking action to mitigate risks and combat these when needed. We intervene directly to manage any public support for the financial services sector including stewardship of (and exit from) the governments interests in NatWest Bank. Were also responsible for ensuring that the financial authorities have the appropriate legal powers and resources to deal with future failures in the financial sector, as well as planning for future stability events. The Group works with the Bank of England, the Prudential Regulation Authority, the Financial Conduct Authority, the intelligence agencies and international partners, to build and maintain systems to monitor assess and deal with financial stability risks. About the Team The Financial Stability Strategy and Analysis (FSSA) is a friendly and inclusive team in the Treasurys Financial Stability Group. It is staffed with around twenty-five economists and policy advisers, and has a broad and diverse remit, covering both domestic and international financial stability issues. The team monitors and assesses system-wide financial stability risks. This includes the health of the banking sector, non-bank financial intermediaries, and funding markets. It reports on key risks to the Treasurys Executive Management Board and co-leads the Treasurys Economic Risks Group. The team also leads on a broad set of policy priorities. These include managing the UKs macroprudential policy framework, including setting the remit for the Bank of Englands Financial Policy Committee; leading on the ring-fencing regime for UK banks; advising on financial stability issues relating to our new trading relationships with foreign jurisdictions; and considering new structural challenges facing the financial system, for example arising from climate change. The team engages with a wide range of partners to inform its work. This includes leading HMTs regular engagement with the investment banking sector; working closely with the Bank of England (BoE) and Financial Conduct Authority (FCA); and engaging internationally through the Financial Stability Board (FSB) and the Foreign, Commonwealth and Development Office (FCDO). About the Job Are you a keen problem solver, interested in investigating the big financial stability issues of the day? If so, this may be the job for you In this exciting and varied role, youll work with a friendly team of analysts as we explore developing and important risks to the UK financial system. Areas of focus will include risks relating to climate change, the growing use of AI, geopolitical developments and other topical challenges. Through analysis, our team seeks to maintain and deepen the Treasurys expertise in financial system risks, in order to influence policy development and the Departments response to external events. Within the role youll be responsible for conducting new research and maintaining relationships across the Treasury and the UK financial regulators, primarily the Bank of England and the Financial Conduct Authority. The post holder will also be responsible for coordinating bi-monthly Economic Risk Group meetings, to update senior officials on emerging and important financial and economic risks. Given the nature of the work, the role portfolio and responsibilities may evolve to reflect any changes in the teams priorities. Key accountabilities include: Producing and disseminating core briefing and market monitoring products. Owning the workplan for specific risk areas, including determining and presenting risk assessments and recommendations to senior officials and Ministers to help influence the Departments response to emerging risks. Independently scoping and delivering tailored analysis and recommendations on topical and multifaceted issues. Maintaining strong relationships with colleagues across Government and the UKs financial regulators (particularly the Bank of England and Financial Conduct Authority) to help promote and strategically progress Treasury objectives. Co-ordinating regular senior-level risk meetings as part of the Economic Risk Group secretariat. Interested post-holders will also have the opportunity to develop their analytical skills using Bloomberg and relevant data science tools. Candidate Drop-In Session - Microsoft Teams We will be running a candidate drop-in session for this role to give you greater insight about the role as well as the chance to learn more about HM Treasury and the recruitment process. If you would like to join us, then use the appropriate link below to join the call at the right time. Friday 19th April, 11:00-12:00: Click here to join the meeting If you would like to speak to the hiring manager informally prior to the closing date for applications to find out more about the job, please contact Amanda Kay at amanda.kayhmtreasury.gov.uk. Person specification We are looking for the below skills, experience and behaviours and we will ask you to demonstrate these in your application form. Please review the Candidate FAQ document that is attached to the advert for guidance on how to complete your application form. Ability to scope out and direct original analysis, pulling conclusions from complex and/or incomplete data (Making Effective Decisions). Ability to explain complex economic or financial analysis and evidence succinctly and persuasively (Communicating and Influencing). Ability to create and maintain a strong network of contacts across the organisation and externally (Working Together) The lead criterion is : Making Effective Decisions If we receive large volumes of applications, we will conduct an initial sift on the lead criterion only. Qualifications Economics, Central Banking or Finance related degree or relevant experience Behaviours We'll assess you against these behaviours during the selection process: Making Effective Decisions Communicating and Influencing Working Together Technical skills We'll assess you against these technical skills during the selection process: Critical Thinking Benefits Alongside your salary of £39,500, HM Treasury contributes £10,665 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides. 25 days annual leave (rising to 30 after 5 years), plus 8 public holidays and the King's birthday (unless you have a legacy arrangement as an existing Civil Servant) Flexible working patterns (part-time, job-share, condensed hours) Generous parental and adoption leave package. A Civil Service Pension which provides an attractive pension, benefits for dependants and average employer contributions of 27% Onsite restaurant and coffee bar. The London office also offers a gym, showers and prayer room Access to a cycle-to-work salary sacrifice scheme, season ticket advances and payroll giving Access to a retail discounts and cashback site A Rental Deposit Advance Scheme to help meet the total costs of deposits for privately rented homes A range of active staff networks, based around interests (e.g. analysts, music society, sports and social club) and diversity (e.g. women in the Treasury, ethnic minority network, LGBT network, faith and belief network) Flexible Working Arrangements HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they can enjoy a long-lasting career with us. All employees have the right to apply for flexible working and there are a range of options available including; part-time, compressed hours and job sharing. Additionally, we operate flexitime systems, allowing employees the flexibility to adjust their working patterns throughout the week which is subject to operational needs and line management approval. At HM Treasury we have an incredibly broad remit; our work touches every citizen of the country. So, its important our employees come from the widest possible range of backgrounds, bringing us the widest possible range of perspectives and ways of thinking. We are committed to ensuring that all staff can realize their potential and achieve a healthy work-life balance. HM Treasury operates an office based working approach across all Treasury sites - Darlington, London, and Norwich, and along with the rest of the Civil Service, has an expectation of a minimum of 60% attendance in the office, along with working remotely. This blended working approach allows you to work collaboratively, meet stakeholders face to face, support others and promotes a healthy work life balance (please be aware that this role can only be worked in the UK and not overseas). Some roles will not be suitable for Hybrid Working. Similarly, Hybrid Working will not suit everyones circumstances. Arrangements will be discussed and agreed with the successful candidate(s) and subject to regular review. All our offices have been recently modernised and designed to collaborate and connect with colleagues as well as desk and quiet space to allow a range of ways to work. The office working expectation is linked to location of the role, if you apply to a post in a single location then you will not be able to meet this expectation at any of our other sites or be able to move your role to another location. Things you need to know Selection process details This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills. Recruitment Timeline Closing date: 28th April Sift: w/c: 29th April Interviews: w/c: 6th May This timeline is indicative and may be subject to change. We will inform you if there is a substantial change to the recruitment timeline. If your contact details change at any time during the selection process, please ensure you update your Civil Service Jobs Profile. Please note that only applications submitted through Civil Service Jobs will be accepted. Location-Based Reserve Lists You will be placed on a reserve list if your application is successful, but we cannot offer you a post immediately. Where more than one location has been advertised, candidates will be approached for roles in merit order according to the first preferred location stated on your application form. Please note that a place on the reserve list does not guarantee an offer. We would still encourage you to apply for other HM Treasury opportunities that you are interested in. If you are offered a role in your first preferred location and you decline the offer or you are unable to take up the post within a reasonable timeframe, you will be removed from the reserve list, other than in exceptional circumstances. Eligibility Statement A candidate is not eligible to apply for a role in the Civil Service if the application is made within a 5 year period following a dismissal for carrying out internal fraud against government. Checks will be performed as part of pre-employment checks in line with this. Please refer to the Candidate FAQ document attached to the advert for more information. Individuals appointed to the Treasury Group will be subject to National Security Vetting. To allow for meaningful checks to be carried out applicants will normally need to have lived in the UK for at least 3 out of the past 5 years. A lack of UK residency in itself is not always a bar to security clearance but the Department will need to consider eligibility on a case by case basis using all information that can be obtained following a successful application. Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks. For many roles, security clearance is also required. Successful candidates must meet the security requirements of the role before they can be appointed. The level of security clearance required for this role is Counter Terrorist Check (CTC) Please read the Vetting Charter for information on what to expect during the vetting process and what will be expected from you. Many areas of your life may be explored during your vetting journey, and it is important that every individual, regardless of their background and experiences, should feel comfortable going through this personal process, whilst having confidence that it is fair, proportionate, and inclusive. These short videos address common concerns and preconceptions which applicants may have about national security vetting. If you have questions relating to security clearances, please contact HMTSecurityVettinghmtreasury.gov.uk Feedback will only be provided if you attend an interview or assessment. Security Successful candidates must meet the security requirements before they can be appointed. The level of security needed is counter-terrorist check (opens in a new window).See our vetting charter (opens in a new window). People working with government assets must complete baseline personnel security standard (opens in new window) checks. Nationality requirements This job is broadly open to the following groups: UK nationals nationals of the Republic of Ireland nationals of Commonwealth countries who have the right to work in the UK nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window) nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS) individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020 Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service