About the job

Job summary

About HM Treasury

If you’re interested in making a difference to people’s 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.  

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. It’s central government, made more accessible to you! 

Job description

About the Group

Economics Group

The Economics Group in the Treasury provide Ministers with analysis and assessment of fast-paced economic developments in the UK economy and advises on their implications for the Government’s economic strategy.  It works with policy teams to factor economic analysis into advice for Ministers on a wide range of polices. The Group is a leading member of the UK macroeconomic community, collaborating with the Bank of England, OBR and academia on shared topics of interest, liaising with international organisations in their surveillance of the UK economy and supporting the economic and social research professions across government departments.

About the Team

Economic Risks

Economic Risks works flexibly and collaboratively with teams across HMT and in other departments to improve risk management best practice. The team builds modelling and analytical capabilities that are used to influence policy and strategy in responding to a wide range of risks to the economy.

Beyond systematically monitoring risks to the economy, the team plays a central role in analysing a range of macroeconomic risks, including climate change. The team leads on the Group’s input to the Covid-19 Inquiry, and is co-secretariat for the Economic Risks Group and Climate and Environment Analytical Sub-Board.

Economic Risks is a friendly team, which values having an inclusive culture. Flexible working practices are encouraged. We have members of the team working across London and Darlington offices.

Within Economic Risks, the assesses the risks of climate change, net zero and energy issues for the UK economy and ensures that analysis informs HMT policy.  The branch provides high profile analysis that provides exposure to senior leaders and strategic decision making. The branch works closely with multiple teams, including colleagues in policy and spending teams, Fiscal Group and International Group, and with external partners including other departments, the Bank of England and international organisations.

About the Job

The role provides an opportunity to work on some of the most important long-term macroeconomic issues facing the UK to influence better policy outcomes for households and businesses. The post-holder will contribute to work across the branch and HMT’s analytical community, ensuring evidence influences policymaking.

The post-holder will lead analytical projects on climate change and the net zero transition, but will also be expected to work flexibly to contribute to work across the broader Economic Risks portfolio. Exact responsibilities will vary according to policy and economic priorities, but the post-holder can expect to manage, deliver and communicate economic analysis to support policy development, while building expertise in macroeconomic modelling, with training and support provided.

Core responsibilities in the role include:

1. Lead analytical projects, responding to economic and policy priorities through managing and delivering impactful analysis and advice on the macroeconomics of climate change and the net zero transition.
2. In particular, the post-holder can expect to lead significant elements of a high-profile project to develop a detailed assessment of the economic impacts of climate damages. This will involve collaborating with colleagues across HMT to set direction for the project, engaging with analysts across government and external experts to develop sectoral estimates, building technical expertise to incorporate climate damage models into existing macroeconomic frameworks, and interpreting results and communicating the strengths and caveats of the approach to senior stakeholders in presentations and reports.
3. Build HMT’s wider understanding of climate macroeconomics though developing expertise in quantitative analysis and modelling. The post-holder will lead on application and development of the NiGEM climate model, and will have opportunities to work across the branch’s suite of macroeconomic models, including Computable General Equilibrium (CGE) modelling.
4. Co-lead the secretariat of the HMT Climate and Environment Analytical Sub-Board, working with analysts across the department to plan and coordinate an agenda which influences analytical and policy development, and supporting Director chairs to deliver effective meetings.
5. Communicate analysis effectively across the department and government, including contributing to presentations and written advice for senior leaders.
6. Build and maintain collaborative relationships across the department, government and externally. Work closely with HMT colleagues to ensure analysis influences policy development, and work across government and with external stakeholders to deliver HMT’s strategic priorities.
7. Support the Economics Group’s corporate agenda, promoting the group’s wider objectives and making it an excellent place to work.

Candidate Drop-In Session 
 
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. 

Wednesday 26th June 2024 @ 13:00 Join the meeting now

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 danielle.monnier@hmtreasury.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.  

1. Making Effective Decisions: Develop expertise in complex issues and accurately analyse a range of available evidence to advise decision-making.

2. Delivering at Pace: Work independently and collaboratively to manage competing deadlines and objectives and deliver timely and high-quality analysis.

3. Communicating and Influencing: Communicate evidence and analysis clearly and concisely, including to senior decision makers.

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.

Required Qualifications:

An undergraduate degree in economics or a related analytical field (or at least 50% of joint honours).

Candidate Guidance Support Session 
 
We will be running an overview of Success Profiles and the STAR approach; top tips for the application and interview process and an opportunity to ask general questions around our recruitment practices. If you would like to join us, then use the link below to join the call at the right time. 

Weds 19th June @ 12:30: Join the meeting now

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.

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: 7th July 2024

Shortlisting: w/c 8th July 2024

Interviews: w/c 15th July 2024 

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.

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. 

Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks. Additionally, individuals appointed to the Treasury group 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. In exceptional circumstances, 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. 

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 HMTSecurityVetting@hmtreasury.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 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.