Assistant Economist – Country Risk (Europe, Middle East, North Africa, Central Asia)

Job summary

The Division

Economics and Country Risk (ECR) sits within the Risk Management Group (RMG) of UKEF. The Division works closely with UKEF’s Business Group (BG) to assess the risks of supporting UK exports. ECR is split into 2 G6 branches (1x G6 for Sovereign Risk and 1 G6 for Economic Analysis and Policy).

The Sovereign Risk Team provides assessments of economic and political risk factors related to UKEF’s sovereign business and pricing, as well as recommendations on cover policy and country exposure limits.

Job description

About the Role

The postholder will play a crucial role in analysing economic and political risk in countries around the world, making policy proposals to senior UKEF directors, and helping to determine where UKEF can provide support for British exporters and on what terms. This role would be suited to someone with experience or an interest in macroeconomics and international economics, as well as geopolitics.

Main Activities

• To ensure UKEF’s cover and pricing policies reflect the risk in markets whilst enabling UKEF to meet its objective of supporting British exporters.
• To provide assessments and analysis of economic and political risk factors related to UKEF’s sovereign and corporate business. Produce timely and robust analysis, drawing credible and consistent conclusions.
• To monitor developments across the region they cover, building and then maintaining a high level of expertise and knowledge of matters impacting the markets, politics, and sovereign credit risk within the region.
• Represent the Department’s risk assessments and cover policies to internal and external parties and promote and communicate UKEF’s activities.
• Provide effective representation at OECD Country Expert meetings (if required), and Cross-Whitehall meetings.
• To work with other teams in UKEF to evaluate case specific risks, including, alongside country and market risk, climate change risk, regulatory and governance risks, risks relating to business or commodity cycles, competition, entry barriers and product diversification, banking sector systemic risks and the need for additional security or covenants.
• To assist with the development and help maintain the integrity of the Department’s risk management systems and models.
• Maintain, expand and keep up to date with international macroeconomics, international trade and risk management theory and empirical developments. This should include reading both relevant academic papers, discussion pieces, attending seminars and conferences

Person specification

UK Export Finance is looking for motivated individuals with a desire to learn about the business. Successful candidates will be provided not only with functional training to enable them to do well in their role, but also with personal development to help them to achieve their career ambitions. Please note that the person specification below outlines at which stage(s) you will be assessed on how you meet the criteria for the role(s) including:-

A = assessed at application stage I = assessed at interview stage P = assessed at presentation stage

Essential

Qualifications

• Degree in Economics. (A)

Skills/Ability

• Ability to analyse, interpret, and present (quantitative and qualitative) data to inform decision making. (A, I)
• Attention to detail e.g. ability to identify errors, issues, and other anomalies. (A, I)
• Good oral and written communication skills, including ability to respond with authority and credibility within area of responsibility. (A, I)
• Collaborative approach to working, and ability to establish professional relationships with a range of stakeholders. (A, I)
• Able to work unsupervised, but also able to recognise when to seek advice or support. (I)

Experience

• Experience working in a role dealing with one or more of international economics, finance, or risk analysis. (A)

Other Requirements e.g. travel, languages

• Some overseas travel may be required.

Qualifications

Degree in Economics.

Behaviours

We'll assess you against these behaviours during the selection process:

• Making Effective Decisions
• Working Together
• Delivering at Pace

We only ask for evidence of these behaviours on your application form:

• Making Effective Decisions
• Working Together

Technical skills

We'll assess you against these technical skills during the selection process:

• A case study exercise which will involve writing a short brief, to be prepared in advance, which will be discussed at the interview stage

Benefits

Alongside your salary of £43,000, UK Export Finance contributes £12,457 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides (opens in a new window).

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%

Things you need to know

Artificial intelligence

Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills.

The application must be completed by 23.55 on the day of the closing date for it to be accepted.

Use of Artificial Intelligence (AI)

Artificial Intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance for more information on appropriate and inappropriate use.

Please ensure that you read through the Candidate Information Pack attached to this advert, before applying.

All applications will be sifted against our essential criteria outlined in the personal specification. .

• Qualification: Degree in Economics. (A)
• Behaviour statements - 250 word statement on each of the following:
  • Making Effective Decisions
  • Working Together
• Statement of suitability - you should fully articulate in 500 words how you meet the essential criteria outlined in the person specification within the Information Pack.

For the initial sift your application will be evaluated against:

1. Experience - Application and Statement of Suitability
2. Behaviour statements - 250 word statement on each of the following:
   • Making Effective Decisions
   • Working Together

In the event of a large response an initial sift will be carried out on the following with successful applicants being progressed to the full sift:

• Essential criteria - Ability to analyse, interpret, and present (quantitative and qualitative) data to inform decision making. (A, I)
• Behaviour statements - 250 word statement on the following:
  • Making Effective Decisions

If you are successful following the sift stage, you will be invited to an initial interview, via MS Teams; this will include the following assessment:

1. Behaviours / Technical / Experience - a formal panel interview where you will be interviewed across all three behaviours highlighted in Appendix 1.
2. Technical - you will be assessed across your technical expertise and acumen, in relation to the essential criteria:

• A case study exercise which will involve writing a short brief, to be prepared in advance, which will be discussed at the interview stage

Candidates will be assessed against the GES Technical Framework including: Application of Knowledge.

Details of interview panel members will be e-mailed to all successful candidates who are invited for interview.

Timetable

Please note that the interview dates are indicative.

Closing date for applications

23:55 on Sunday 13 September 2026

Notification of outcome of application

w/c 21 September 2026

Interviews to be held via MS Teams

w/c 28 September 2026

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a basic (or equivalent) criminal record check.Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security 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

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see theCivil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

This vacancy is part of the Great Place to Work for Veterans (opens in a new window) initiative.Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

• Name : Recruitment Team
• Email : Recruitment2@ukexportfinance.gov.uk

Recruitment team

• Email : Recruitment2@ukexportfinance.gov.uk

Further information

Should you have a complaint or wish to raise any concerns regarding the recruitment process, please e-mail your complaint to the Head of Pay and Resourcing (UKEF) at Recruitment2@ukexportfinance.gov.uk and include “Complaint” in the subject heading. Should you remain dissatisfied following UKEF’s investigation then you can refer your complaint to the Commission - http://civilservicecommission.independent.gov.uk/making-complaint.

Attachments

UKEF - Assistant Economist - Aug 26 Opens in new window (pdf, 4342kB)