About the job

Job summary

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

Economics Group 

The Economics Group leads HM Treasury’s analysis of developments in the UK economy and advises ministers on the implications for the Government’s economic strategy and the effect of policy on growth, inflation, the labour market, investment and trade. It provides expert economic analysis and advice for Ministers, including on economic risks. The Group’s data hub is transforming how the Treasury uses data across its entire business. The Group collaborates with external experts on the UK economy,  including the Bank of England, Office for Budget Responsibility  and leading academics. Economics Group provides support for the UK Government’s economics and social research professions, including running centralised recruitment and the annual conferences.  

Economic Risks team and Analytical Project Unit

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 long term risks such as climate change. Recent work has included analysis of the economic impacts of rising geopolitical tensions, considering the macroeconomic implications of AI and developing a new tax modelling capability. The team leads on the Group’s input to the Covid-19 Inquiry and is currently designing and implementing the Economic and Fiscal Risks Fund.  

The Analytical Projects Unit is a cross-departmental project pool that provides analytical expertise on some of the most critical projects across HMT. The team is deployed on projects covering a diverse set of public policy issues across the entire economic and policy work of HM Treasury.

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

About the job

Key Accountabilities for this role include:

1. Lead and set the strategy for a diverse, inclusive and impactful team, providing support for and guidance to direct reports, safeguarding wellbeing and resilience and promoting management excellence.
2. Provide dynamic thought leadership across the department on risks relevant to the economy and how economic policy should respond to them.
3. Partner with the relevant policy teams across the department to ensure advice on policy measures reflects the latest understanding of both short term economics risks and long term structural trends and in doing so shape a coherent policy response.
4. Drive forward development and implementation of the Economic and Fiscal Risk Fund, building collaborative relationships with other government departments to maximise impact.
5. Provide regular reporting to HM Treasury’s Executive Management Board on Economic Risks and suggest actions to mitigate or respond to them.
6. Ensure the Analytical Project Unit provides timely and high quality support to emerging priorities across the department.
7. Be an active part of the wider senior leadership team of the Economics Group and the Treasury. Delivering on our corporate objectives and role modelling the best of HMT and Civil Service behaviours and values.

Applicants to the post will be appointed on SC clearance, but must be willing to undergo Developed Vetting once in post.

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 31st July 15:00 – 15:45

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 Lindsey.Jones@hmtreasury.gov.uk

Person specification

Please review the Candidate FAQ document that is attached to the advert for guidance on how to complete your application.

Required Skills, Experience and Behaviours:

For your application, please send us a CV and a personal statement setting out how you meet the following skills, behaviours and experience. This should be no longer than 1,000 words, and include no more than 250 words on each criteria below;

1. Evidence of outstanding judgment in analysis and/or policymaking in complex, uncertain and fast-moving environment
2. Evidence of a successful track record leading teams, motivating the dynamic delivery of high quality results whilst promoting wellbeing, management excellence, diversity and inclusion
3. Ability to build effective relationships based on mutual respect and appreciation and to use them to deliver tangible results
4. Ability to influence at all levels demonstrating credibility of judgement and excellent communications skills

Required Qualifications - Degree level qualification in economics or equivalent experience. 

If you are invited to interview, we contact you about a task that the panel would like you to complete as part of the assessment. The exact details will be communicated to you nearer the time, however the task will assess your leadership capabilities.

Benefits

Alongside your salary of £75,000, HM Treasury contributes £20,250 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 and Experience.

Recruitment Timeline 

• Closing date: Sunday 11th August 2024
• Shortlisting: w/c 12th August 2024
• Interviews: w/c 19th August 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.

Location-Based Reserve Lists 

You will be placed on a reserve list if your application is successful, but we cannot offer you a post immediately. Where more than one location has been advertised, candidates will be approached for roles in merit order according to the first preferred location stated on your application form. 

Please note that a place on the reserve list does not guarantee an offer. We would still encourage you to apply for other HM Treasury opportunities that you are interested in. If you are offered a role in your first preferred location and you decline the offer or you are unable to take up the post within a reasonable timeframe, you will be removed from the reserve list, other than in exceptional circumstances. 

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.