Department Overview
The Markets Directorate promotes monetary and financial stability by leading the Bank’s market operations, and by using our presence, expertise and influence in financial markets to inform and shape the Bank’s policy decisions and priorities.
The Market Intelligence & Analysis Division is a centre of excellence in understanding financial markets. Using our outstanding proximity to markets, we bring insights from analysis, market intelligence (MI) and research together to influence policy. Two of the teams in MIAD are currently hiring:
The Market Intelligence Delivery Team (MIDT) leads and structures our MI functions. Thus we support the Bank’s mission by providing clarity and understanding of market developments by:
- Monitoring markets: provide real time, effective market monitoring on important financial market developments to the senior Markets management, and the wider Bank, including Governor briefings, policy committees, for policy design and operations;
- Analysing markets: deliver considered insights, drawing on markets understanding, combining MI with insights from economic data, models and theory;
- Supporting MI teams and MI gatherers: agree prioritisations; provide training for staff, so they are prepared to talk to contacts, while mitigating the inherent risks;
- Working with MI contacts: ensure MI contacts are diverse, including through the Meeting Varied People (MVP) initiative, and reflect financial markets globally.
The Market Structure & Analysis Team (MSAT) combines market intelligence and analysis to inform and influence policy decisions on market structure and financial stability issues and use of the Bank’s balance sheet. We promote the Bank’s mission by:
- Financial stability: providing advice to FPC on a wide range of financial stability issues touching on wholesale financial markets
- Market structure analysis: providing inputs to FPC and international workstreams on market-based finance and structural reforms, as well as on topics from ESG to productive finance;
- Catalysing reforms: working with market participants to catalyse market structure reforms – including on the transition from LIBOR to better risk-free rates; with the industry-led Financial Markets Standards Board; and evaluating the merits of greater use of central clearing in core FICC markets;
- Horizon scanning: scanning the horizon for medium-term structural trends and risks;
- Financial stability tool design: inputting to the design of the Bank’s policy toolkit with a focus on financial stability, – as well as working internationally to build support for constructive policy.
Job Description
We are recruiting for scale F lead policy analysts. The successful candidate will be matched with the relevant MIAD team based on the experience and taking into account their preferred area.
Key activities for this role include:
- Engaging with a broad range of senior external contacts to collect intelligence on market structure and financial stability issues.
- Contributing to analytical work (sometimes as part of the FMA Pool) to deliver analysis on financial markets to senior policy makers, including both MPC and FPC.
- Briefing senior decision makers on the key monetary policy or financial stability issues in financial markets.
- Leading on analytical thinking on financial market issues, including contributing to Bank policy.
- Engaging with colleagues across the Bank to ensure MI activities are making an impact and supporting financial markets analysis in policy making processes.
- Partnering with other authorities and internationally to ensure the success of our work.
Role Requirements
Essential Criteria
- A keen interest in financial markets and how they function;
- Evidence of working collaboratively and inclusively to deliver high quality outputs;
- Strong organisational and prioritisation skills, including to work flexibly across team boundaries;
- Analytical skills and an ability to get up to speed quickly with complex information;
- A good communicator, both written and verbal; with the ability to explain complex and technical subjects tailored to the audience (inside and outside the Bank).
Desirable Criteria
- Prior experience of working on financial markets issues within or outside of the Bank;
- Knowledge of financial stability issues and policy;
- Experience of engaging with senior external and internal stakeholders;
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.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We’ve also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they’re needed.
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. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we’re proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Salary and Benefits Information
We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.
This role offers a salary of circa £52,730 – £60,840. In addition, we also offer a comprehensive benefits package as detailed below:
- A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
- A discretionary performance award based on a current award pool.
- A 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice.
The Application Process
Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two interview stages.
This role closes on Thursday 15th August 2024.
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
ABOUT US
We are the UK’s central bank – and we are a bank like no other; known by our peers for our world-leading thinking on policy and strategy.
Our mission is to promote the good of the people of the UK by maintaining monetary and financial stability. We seek to keep prices stable and people’s money safe. We know our work matters to people, to families, up and down the UK. We are driven by curiosity and the desire to do important, challenging work.
It takes a great team to run the Bank of England. We rely on each other to play our part. We benefit from a collaborative culture and long-established flexible ways of working, supporting our colleagues balance their work and personal lives. We strive to be a place where people feel they belong and have equal access to opportunities, because different perspectives helps us make the best decisions for the public.
There’s much to gain from working with us – from career defining work at the heart of the UK economy, being part of a fantastic team, and a rewarding compensation package.
Join us and find a bank like no other. Together, we can make a difference.
The Bank of England will use and protect the information you provide when you apply for a role with us, in line with our obligations under data protection law. This is so we can assess your suitability for the role and administer your application. If you’re successful we’ll use it to offer you a position and onboard you to join the Bank.
If you would like more details about how your information will be used and your information rights, please visit our recruitment privacy notice.