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.  

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 stronger and better at developing policy that reflects the needs of every community. We embrace different views and experiences and value the new 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, gender, age ethnicity, LGBT+ identity and socio-economic status.  

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 leads HM Treasury’s analysis of developments in the UK economy and advises ministers on the implications for the Government’s economic strategy. It provides expert economic analysis and advice for Ministers. 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 economic and social research professions, including running centralised recruitment and the annual conferences.

About the teams

The Macroeconomic Assessment (MA) team is at the core of the Treasury’s function as an economics Ministry. MA is a friendly, supportive and inclusive team who work collaboratively to deliver our objective of providing expert macroeconomic analysis to support policy development. 

As a team, we play a central role in analysing developments in the UK economy and risks to the outlook. We seek to produce high quality and influential macroeconomic analysis, working with colleagues across the department and the Office for Budget Responsibility. MA is committed to ensuring the team is a fun, engaging and friendly place to work, where everyone is supported to develop and progress. 

The Macroeconomics Coordination and Strategy (MCS) team is a friendly and open team working across the Economics Group and the Treasury more broadly: providing analysis, advice and briefing to Ministers on economic developments, particularly GDP and inflation, the near-term outlook and macroeconomic narrative; leading on the UK’s sovereign credit rating and management of the regular IMF and OECD surveillance of the UK economy; representing the UK in G20 macroeconomic discussions; and leading the Treasury’s relationship with the ONS on economic statistics. The team has spending responsibility for the UK Statistics Authority.  

The team prepares regular updates on the macroeconomy for the Chancellor, presents economic updates to the PM, organises internal State of the Economy meetings and leads on the presentation of the government’s economic narrative in external fora. 
 
In its central coordination and strategy roles, liaising closely with other teams, MCS provides an interface between the Treasury’s specialist economists, Ministers and senior officials, as well as Parliament and Whitehall. Working in MCS is an excellent opportunity to deliver economic analysis on a wide range of topical issues of relevance to the Treasury and government. 

About the jobs

These are two exciting opportunities to take on a high-profile leadership role in the Economics group. Candidates should indicate if they have a preference ordering. 

Business Investment, Trade and Household Sector 

This role heads up the Business Investment, Trade and Household Sector branch, which is a newly formed unit that sits within the Macroeconomic Assessment (MA) team in the Economics Group and is a diverse, high-performing branch of around eight analysts. The branch’s key role is to deliver high-quality analysis to influence policy, providing our view on business investment, trade, the household sector, living standards and the housing market. The branch leads the department’s engagement with internal and external stakeholders on these areas.   

The post holder will lead the branch, providing analytical leadership and managing the wellbeing of the team and facilitating staff development. A successful candidate will be expected to demonstrate their experience leading teams, empowering staff to work together and creating an inclusive environment which allows people to deliver during challenging, high-pressured, and uncertain periods. A strong background in economics and analysis is essential, as well as a demonstrated skill in communicating and explaining complex economic issues clearly to non-experts. Candidates will also be expected to demonstrate they can work collaboratively with colleagues, building and managing effective relationships with internal and external stakeholders. 

The exact role and responsibilities of the branch may evolve over time, given this is a newly established role. The successful candidate will need to be flexible in responding to change.  

Key Accountabilities for this role include: 

1. Lead and motivate a diverse branch and be a key member of MA’s senior management team. The post holder will have management responsibilities for the branch, which is spread across the London and Darlington offices. They will also be encouraged to play an active part in the leadership of the wider Macroeconomic Assessment team and support corporate priorities across the Economics Group.
2. Provide analytical and thought leadership in the areas within the branch’s remit, overseeing effective analysis of the current conjuncture and outlook for business investment, trade and the household sector (including in relation to the OBR’s economy forecast). Advise senior officials and Ministers effectively on these issues.
3. Lead the branch’s analysis of the indirect economic effects of government policies in the run up to Fiscal Events. The branch, working with analysts and policy colleagues across the department, is responsible for ensuring that economic analysis concerning business investment, trade, household finances and living standards and the housing market is robust, and that Ministers can take decisions based on the best available evidence.
4. Lead the development of new macroeconomic models, to further extend the analytical capability of the branch. This will draw on existing collaboration with data science colleagues and include embedding consistent analytical pipelines and quality assurance standards across the new branch’s work. 
5. Undertake and oversee bespoke pieces of economic analysis, ensuring that research is relevant and is effectively deployed to shape policy development across the department. 

GDP, inflation and UKSA spending 

This role heads the GDP, inflation and UKSA spending branch. This wide-ranging role is responsible for analysis on the national accounts and prices, and for policy related to economic statistics in the UK, including spending control for the UK Statistics Authority (UKSA)/Office for National Statistics (ONS). The post holder will build on a combination of economic and policy skills, as well as being a significant thought and people leadership role within Economics Group, and managing some significant external stakeholder engagement with expert groups. 

  Key Accountabilities for this role include: 

1. Provide insightful and timely briefing and analysis around major data releases, including through regular briefings and the branch's nowcasts of inflation and GDP. This will include overseeing regular written briefings and delivering oral briefings to the most senior ministers, linked to major data releases.
2. Undertake and oversee ad hoc analysis on inflation and the national accounts, ensuring that research is timely, relevant and is effectively deployed to shape policy development across the department. 
3. Oversee the branch's input to the fiscal event process, including briefings to the OBR and analysis that underpins the indirect effects process. 
4. Represent the Treasury in external expert forums, including user groups with the ONS, OECD STEP committee, and in dialogue with Bank of England. 
5. Set strategic direction to policy related to economic statistics in the Treasury, recognising the department's role as a critical user of these statistics and the branch's role as the spending team. The post holder will also be responsible for spending control for the UKSA/ONS, including overseeing Spending Review negotiations. 
6. Lead and motivate a diverse branch, currently of 8 staff, spread across London and Darlington, and containing a mix of backgrounds, including economists and policy officials. Ensure the branch works closely with colleagues across the Treasury and other government departments. Provide thought leadership across the Treasury on macroeconomic issues.
7. Play an active role as part of the team’s leadership group and also in the Group’s corporate agenda. You will play an important role in maintaining and improving a positive, inclusive and development focused culture within the team, and encouraged to take a full part in Economic Group’s corporate agenda more widely. 

Candidate Drop-In Session    

We will be running a candidate drop-in session for this role to give you greater insight about the roles 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.

Monday 15th April 2024 @ 12:30  Join the meeting now   

Wednesday 17th April 2024 @ 17:00 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 either job, please contact Ally Massey and Orla May (job share) massey.may@hmtreasury.gov.uk or Tom Hemingway tom.hemingway@hmtreasury.gov.uk  

Person specification

Both roles will be assessed on the same criteria. 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: the ability to lead high-quality economic analysis, delivering timely outputs that influence policy. 
2. Leadership: the ability to successfully lead and motivate a diverse team including in fast-paced and high-pressured environments.
3. Seeing the Big Picture: the ability to exercise excellent judgement and strategic thinking on both analysis and policy making. 
4. Communicating and Influencing: the ability to effectively communicate key messages, bringing technical analysis to life for non-specialists.  

The lead criterion is: Technical skill: the ability to lead high-quality economic analysis, delivering timely outputs that influence policy.  

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 postgraduate qualification in Economics

Benefits

Alongside your salary of £64,160, HM Treasury contributes £17,323 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, Strengths, Experience and Technical skills.

Recruitment Timeline 

Closing date: Sunday 21st April 2024

Shortlisting: w/c 22nd April 2024

Interviews:  w/c 29th April 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. 

Individuals appointed to the Treasury Group will be subject to National Security Vetting. To allow for meaningful checks to be carried out applicants will normally need to have lived in the UK for at least 3 out of the past 5 years. A lack of UK residency in itself is not always a bar to security clearance but the Department will need to consider eligibility on a case by case basis using all information that can be obtained following a successful application. 

Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks.  

For many roles, security clearance is also required. Successful candidates must meet the security requirements of the role before they can be appointed. The level of security clearance required for this role is Counter Terrorist Check (CTC) 

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 counter-terrorist 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.