Macroeconomic Adviser

Are you looking for a role where you can support macroeconomic policy analysis for HMT and be involved in developing analysis to guide HM Treasury’s macroeconomic strategy and the policies ultimately used in the Budget? If so, we’d love to hear from you!

About the Team

Our team, of 15 staff, is responsible for developing HM Treasury’s thinking and advice for the Chancellor on macroeconomic policy! This includes short-term fiscal policy and monetary policy strategy. The team consists of four branches:

• Strategy and Framework – We provide advice, analysis and briefing on the macroeconomic strategy. We also work with office of the Chief Economic Advisor to coordinate the weekly macroeconomic strategy meetings, arranging presenters and providing readouts.
• Monetary Policy – We advise on the monetary policy framework and support Chief Economist in her role as the Treasury representative at the Bank of England’s Monetary Policy Committee (MPC) meetings. The branch produces monetary policy analysis ahead of MPC meetings, speeches and select committee hearings. We also own the appointment process for external members to the MPC.
• Projects – We solve a variety of pressing macroeconomic questions in short-term projects commissioned by seniors within HMT that typically span over a month or two. These projects can be either analytical or strategic.
• Research – We look more deeply into analytical issues on fiscal and monetary policy including the fiscal stance and automatic stabilisers. We develop a research agenda across the team and build links with other teams, academics and external organisations on policy issues.

About the Job

To make sure our advice to the Chancellor draws on the best available evidence, we work closely with a broad mix of people. Our key contacts come from throughout the Treasury, the Bank, the OBR, think-tanks and academia to make use of different perspectives. Key accountabilities include;

• Supporting HM Treasury’s programme of macroeconomic analysis
• Effective communication skills in both oral and written work
• Developing and maintaining effective relationships with colleagues in HMT and external bodies
• Developing, managing and prioritising a large portfolio of work consisting of a range of urgent short-term projects and long-term research
• Working on a mix of projects depending on your development needs, interests and wider HMT priorities

About You

You will play a key role in leading an ever-changing work programme, which varies based on the economic topic of interest at the time. Over the past two years this entailed working on everything from the crisis in Ukraine and subsidising energy bills to supporting recent Budgets and estimating the inflationary impact of policies feeding into them.

You will build and engage others in crafting a shared vision;  form effective partnerships and relationships with people both internally and externally, from a diverse set of backgrounds, sharing information, resources and support and have strong analytical skills and capability in using the tools and techniques relevant to the economics profession.

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 a stronger organisation, better at developing policy that is reflective of the communities we serve. We embrace different views and experiences and value the fresh 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, ethnicity, LGBT+ identity and socio-economic status.

Some of the Benefits our people love!

• 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). Additionally, we operate flexitime systems, allowing employees to take up to an additional 2 days off each month
• Flexible working patterns (part-time, job-share, condensed hours)
• Generous parental and adoption leave packages
• Access to a generous Defined Benefit pension scheme with employer contributions of 27%
• Access to a cycle-to-work salary sacrifice scheme and season ticket advances
• 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)

For more information about the role and how to apply, please follow the apply link.

If you need any reasonable adjustments to take part in the selection process, please tell us about this in your online application form, or speak to the recruitment team at hrrecruitment@hmtreasury.gov.uk