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

Do you want to advise ministers on promoting and protecting the UK’s economy and its competitiveness internationally in a fast-changing environment?  If so, read on!

About the International Group

International Group provides opportunities to work on areas including - spending control on international development, trade policy, climate change, health, cooperation on Ukraine, economic security, financial sanctions and tackling illicit finance.  We also manage economic relationships with Europe, US, China and other advanced economies and emerging markets.

We build relationships with external and international partners and represent the UK in a range of international groupings and institutions, including the G7, the G20, the International Monetary Fund and at some of the Multilateral Development Banks. We also analyse international comparisons and the wider global economic context, including for fiscal events.  Although international travel is an important part of some roles, it is not required for every role in the group and will be specified if required.   

About the Team

The International family includes the International Partnerships and Trade (IPT), International Finance and Economic Security (IFES) and Economic Crime and Security (ECAS) Director-led Groups.

Within the International 'family’, the International Partnerships and Trade (IPT) Director Group is a friendly group leading on core aspects of the International agenda. It is made up of three Deputy Director-led teams and one Director-led team, covering European Policy (EP), International Economic Partnerships (IEP), Global Economics (GE) and Trade Policy (TP) and led by Director Ian Ginsberg. It has around 70 permanent roles.

This role is in the Global Economics Team. We are a team of 17 analysts that works at the heart of International Group to provide analysis and economic policy on key global issues, prospects and risks, and on their implications for the UK economy and policy priorities.  

The team comprises two branches:

• The Global Prospects and Advanced Economies (GPAE) branch, which leads on: HMT’s assessment of the global economy; and analysis on major advanced economies, including the US, Japan, Canada and Australia, including comparisons to the UK.
• The Emerging Markets (EM) branch, which has responsibility for economic analysis on emerging markets, including China, Russia, Turkey, the MENA Region, SE Asia and Latin America, and leads on a range of cross-cutting EM-focused global economic issues.

The team works flexibly and collaboratively to fashion high quality analysis and advice on a diverse and exciting range of policy areas and issues. We take pride in being friendly, encouraging, and providing excellent opportunities for professional development. We value innovative approaches and creative thinking. Come and join us! 

About the Job

In this role, you will lead on all aspects of modelling the macroeconomic impacts (and sectorial implications) of economic security risks and policies. You will work with a wide range of policy teams (in HM Treasury, but also with the Foreign Commonwealth and Development Office (FCDO), Department for Business and Trade, and Cabinet Office) to deliver high quality analysis focused on informing the UK’s approach to international economic security issues.

Key responsibilities will include:

1. Lead on modelling the economic impacts of other countries’ economic security policies on the global and UK economy.
2. Lead on modelling the economic impact of future scenarios for geopolitical tensions and economic fragmentation, working closely with the FCDO and DBT.
3. Advance HMT’s understanding of the economic risks emanating from tensions between China and the West.
4. Ensure analysis is tailored to support the UK’s domestic approach to economic security and wider domestic objectives, such as growth.
5. Lead HMT’s modelling of macroeconomic and sectoral impacts from broader global economic developments and emerging risks (including third country policies, monetary policy shifts, indirect risks) on the global and major economies.
6. Work closely with other parts of Treasury and HMG to ensure a consistent approach to quantitative analysis on the global economy. Ensure analysis is policy relevant and accessible to a range of different customers, including those without a technical background.

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 Patrick Pollard (Patrick.pollard@hmtreasury.gov.uk)

Candidate Drop-In Session
The hiring manager 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 ask any questions you may have. If you would like to join us, then use the appropriate link below to join the call at the right time. 

Tuesday 11th June – 12:30 – 13:15

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. Technical Skill - Understanding of macroeconomics and an ability to conduct quantitative macroeconomic analysis, including modelling.
2. Making Effective Decisions - Analysing and accurately interpret data from various sources to support decision making.
3. Communicating and Influencing - Explaining complex issues in a way that is easy to understand and presenting analysis to non-technical audiences.
4. Delivering at Pace – Delivering timely quality analysis to tight deadlines with effective prioritisation of competing tasks.

The lead criterion is: Technical Skill - Understanding of macroeconomics and an ability to conduct quantitative macroeconomic analysis, including modelling.

If we receive large volumes of applications, we will conduct an initial sift on the lead criterion only.

Required Qualifications: 

A degree or masters in economics – at least 50% of the modules in economics. Modules must have covered both micro and macroeconomics to qualify. 

Candidate Guidance Support Session 

We will be running an overview of Success Profiles and the STAR approach including top tips for the application and interview process and an opportunity to ask general questions around our recruitment practices. Please note that this session is not role specific, so we will be unable to answer specific questions about roles we are advertising. If you would like to join us, please use the link below to join the call at the right time.  

Wednesday 5th June - 12:30 to 13:15

Benefits

Alongside your salary of £52,960, HM Treasury contributes £14,299 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: 16th June 
• Shortlisting: w/c 17th June
• Interviews: w/c 1st July

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  Developed Vetting (DV). However, candidates are able to join HM Treasury with Security Check (SC) in the first instance. 

To allow for meaningful checks to be carried out, applicants typically need to have lived in the UK for the past 10 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 developed vetting (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.