Assistant Economist – Global Economics

Job summary

Working at HM Treasury puts you at the heart of government, making a difference to the UK economy and ultimately to people’s lives right across the UK.

Jobs at the Treasury are fast-paced, fun and can offer unparalleled perspective – not least the opportunity to advise Ministers on the decisions which directly determine the UK’s prosperity. Deep in our DNA is a commitment to empowering our people: maximising individual and collective impact, with interesting work no matter your role or seniority.

Day-to-day you could be supporting Ministers to decide the right level of a specific tax or line of government spending; helping maintain the stability of financial markets; analysing the long-term trends impacting the future of the economy; or enabling this work as part of our vital corporate functions.

We are a high-performing department and proud to have outstanding staff from a wide range of backgrounds. We are also a friendly, inclusive and sociable workplace that prides itself on fostering great team spirit. Our two largest offices are 1 Horse Guards Road in London, opposite St James’ Park, and the Darlington Economic Campus, which also contains eight other departments. We work seamlessly across all our sites, including Norwich, Birmingham and Leeds, as one Treasury.

We are both a 1,000-year-old institution and dynamic, forward-looking economics and finance ministry, with a strong direction set by our organisational strategy, the Future Treasury Vision. The 21st century offers huge opportunities and poses new challenges for the UK. Working at the Treasury is your chance to help the country chart the right course.

Job description

About the Job

This role sits at the centre of HM Treasury’s work on the global economy, with a particular focus on international comparisons and analysis of structural trends such as the emergence of artificial intelligence. You will play a leading role in assessing the UK’s economic performance relative to peers and drawing out insights for labour market, growth and fiscal policy, while shaping HMT’s overall understanding of the global economic outlook.

This is an exciting and fast paced role that offers the opportunity to work at the intersection of global macroeconomics and domestic policy, areas with high ministerial and senior official interest. You will work with a wide range of policy and analytical teams in HM Treasury, and with the Foreign Commonwealth and Development Office and their overseas network to deliver high-quality analysis and advice that informs the UK’s approach.

Key accountabilities for this role include:

1. Leading international labour market analysis, working closely with domestic leads to provide international analysis that supports domestic policy development by providing the international context and best practice on high-priority issues such as youth employment, economic inactivity, and demographics.
2. Leading analysis on AI, and its emerging impacts on the global economy, considering policy lessons from peer countries and how it could reshape the global economy. Shaping the direction of HMT’s domestic policy approach and its priorities through its upcoming G20 presidency by working closely with AI policy teams across the department, including the new AI Economics Institute.
3. Support the wider international comparisons workstream, supporting domestic policy development by incorporating international best practice and innovative approaches.Provide headline stats and comparisons to inform HMT’s internal growth strategy and public narrative (including fiscal event products and Chancellor speeches).
4. Providing high-quality analysis of the global economy, and delivering timely, high-quality analytical pieces to improve HMT’s understanding of structural trends affecting the global economy and inform policy development.
5. Developing and maintaining strong international and cross-government partnerships, working closely with UK embassies overseas and Whitehall partners to gather economic intelligence, coordinate on global economic risks, and deliver joint analysis on the major issues of the day.
6. Supporting the development and application of data science tools across the International Economics Group, and using innovative analysis to strengthen HMT’s understanding of global economic developments and risks.

The Global Economics team operates with flexibility. We expect all members take the lead on wider ad hoc requests. These may include inward and outward ministerial/senior visits, correspondence and FOIs. All team members are also expected to contribute to GE and IG corporate life, including a corporate responsibility at the team and/or group level.

Candidate Drop-In Session

The hiring manager will be running a candidate drop-in session to give you greater insight about the role and HM Treasury, and ask any questions you might have. If you would like to join us, use the link below to join the call at the right time.

Wednesday 23 September - 12:30 to 13:30 - Join the meeting here

If you would like to speak to the hiring manager informally prior to the closing date, please contact james.tobin@hmtreasury.gov.uk .

Visa sponsorship is not available for this role.

Person specification

Application Stage

Required Qualifications

• Undergraduate or master’s degree in economics (for joint degrees at least 50% of the credit value of the course modules should be in economics)

In your application form, you’ll be asked to confirm that you hold this qualification. You will need to provide evidence of this qualification if you are invited to interview.

Application Form

Applications should consist of a CV including your employment history, and a 250-word statement demonstrating evidence of each of the below shortlisting criteria. Your CV and employment history won’t be scored. It’s used to give context to your application and support discussions at interview.

The panel will review applications and invite those that best demonstrate evidence of the shortlisting criteria below for interview. Please keep this in mind when writing your application.

Please note that only applications submitted through Civil Service Jobs will be accepted.

Essential Criteria:

• Technical – Knowledge of macroeconomics and economic analysis. Understanding of economic modelling is desirable but non-essential.
• Communicating and Influencing – Using verbal and written communication tools to succinctly explain complex concepts to a non-expert audience.
• Seeing the Big Picture – Identifying developments and risks that can have an impact on your work and developing a plan for how to proceed.
• Delivering at Pace – Ability to deliver timely quality analysis to evolving deadlines with effective prioritisation of competing tasks.

The lead criterion is: Technical: Knowledge of macroeconomics and economic analysis. Understanding of economic modelling is desirable but non-essential.

If we receive a high volume of applications, we’ll first sift using the lead criterion only. Those meeting the minimum score will then be assessed against all remaining criteria.

Interview Stage

If you are successful at the application stage, you will be invited to interview where you will be assessed against the following criteria:

• Technical Skills: Economic Analysis
• Strengths
• Behaviours: Communicating and Influencing, Delivering at Pace, Seeing the Big Picture, Making Effective Decisions

Qualifications

Undergraduate or master’s degree in economics (for joint degrees at least 50% of the credit value of the course modules should be in economics)

Behaviours

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

• Communicating and Influencing
• Seeing the Big Picture
• Delivering at Pace
• Making Effective Decisions

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

• Communicating and Influencing
• Seeing the Big Picture
• Delivering at Pace

Technical skills

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

• Technical: Knowledge of macroeconomics and economic analysis. Understanding of economic modelling is desirable but non-essential.

Benefits

Alongside your salary of £36,130, HM Treasury contributes £10,466 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).

• Generous Annual Leave - 25 days (rising to 30 after 5 years), plus public holidays and the King’s birthday.
• Outstanding Pension Scheme - Defined Benefit pension with employer contributions of 28.97%
• Parental Leave Packages - Including 6 months’ occupational pay for maternity/adoption, shared parental leave options.
• Flexible & Hybrid Working - Options include part-time, job-share, compressed hours, flexitime, and hybrid working (where business needs allow).
• Advance Schemes & Discounts - Rental deposit, cycle-to-work, SmartTech, season ticket loans, and access to HM Treasury’s benefits portal for a wide range of discount codes.

You can review HM Treasury’s full offer here.

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, Strengths, Experience and Technical skills.

The reference to Experience above is system generated. For this role, experience is not assessed at any stage. We will ask for some CV details in your application form, but this is for reference only and will not be scored.

Candidate Guidance

Please review the candidate guidance for an overview of the Success Profiles and STAR approach, along with top tips for applications and interviews.

Recruitment Timeline

• Closing date: 4 October
• Shortlisting: w/c 5 October
• Interviews: w/c 26 October

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.

Reserve Lists

You will be placed on a reserve list if your application is successful, but we cannot offer you a role immediately. Where more than one location has been advertised, candidates will be posted in merit order by location. You will be asked to provide your location preference on your application form. Please note that a place on the reserve list does not guarantee an offer.

If you are offered a role in your first preferred location and you decline the offer or are unable to take up the post within a reasonable timeframe, you will be removed from the reserve list, other than in exceptional circumstances.

Those on the reserve list may also be approached for similar roles at a lower grade. If you are offered a role at a lower grade and choose to decline, you can remain on the reserve list.

Internal Fraud Database Check

Candidates cannot apply to roles in the Civil Service if the application is made within a 5-year period following a dismissal for carrying out internal fraud against government.

Successful candidates will be subject to a check on the Internal Fraud Database. This check will provide information about employees who have been dismissed for fraud or dishonesty offences. This also applies to those who resign or otherwise leave before being dismissed for fraud or dishonesty offences had their employment continued. Any applicant’s details held on the database will be refused employment.

National Security Vetting

Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks. Additionally, successful candidates will be subject to National Security Vetting. The level of security vetting required for this role is Security Check (SC).

To allow for meaningful checks to be carried out, applicants will need to have lived in the UK for at least 3 out of the past 5 years. You will be asked to provide residency information within your application form, and eligibility for national security vetting will be checked once the advert closing date has passed. In certain circumstances, for example if you have been working abroad on a government posting, a lack of residency would not be a bar to security clearance however the Department will need to consider eligibility on a case-by-case basis once the advert closing date has passed.

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.The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).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 : James Tobin
• Email : james.tobin@hmtreasury.gov.uk

Recruitment team

• Email : hrrecruitment@hmtreasury.gov.uk

Further information

Complaints Process: Our recruitment process is underpinned by the principle of appointment based on fair and open competition and appointment on merit, as outlined in the Civil Service Commissioners’ Recruitment Principles. If you feel your application has not been treated in accordance with these principles and you wish to make a complaint, you should in the first instance contact HMT by email at: hrrecruitment@hmtreasury.gov.uk. If you are not satisfied with the response you receive, you can contact the Civil Service Commission, which regulates all Civil Service recruitment.

Attachments

478636 - Assistant Economist, Global Economics - Role Profile Opens in new window (pdf, 394kB)