Economic Advisor

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 cross-government hub bringing people together to tackle key national issues while working closer to the communities we serve.

Job description

This Grade 7 Economic Advisor role is responsible for understanding and responding to risks that could affect the UK economy. The roles sit in the Economic Risks team, part of Macroeconomic Conditions and Risks in HM Treasury’s Economics Group. The team is responsible for assessment of risks to the UK economy, including both acute shocks, and longer-term structural challenges, through horizon scanning, economic analysis, and supporting policy development.

We are looking for economists who enjoy working on varied questions, have a proactive, creative approach to problem solving in unfamiliar areas, and can develop quick and effective economic assessment. The role requires bringing together evidence and analysis to support senior officials and ministers in understanding potential risks and policy choices. This work is extremely varied, and this role can be suitable for economists with a range of skills. There is scope to shape the role in line with the applicant’s experience and interests. There will be a large amount of support for development in the role.

In this role your responsibilities may include:

• Monitoring and assessment of emerging economic risks and what they could mean for the UK economy;
• Assessing the possible impact and likelihood of risks, using evidence, judgement, and qualitative and quantitative analytical frameworks;
• Develop quantitative analysis, scenarios, or tools to support risk assessment and policy advice.
• Contribute to development of HM Treasury’s policy thinking on how government can best prepare for, manage, or respond to economic risks.
• Working with colleagues across HM Treasury, other government departments, external organisations and academic partners in building a shared understanding of economic risks.
• maintaining and developing relationships with a broad range of internal and external stakeholders, building consensus through positive and friendly communication and collaboration;
• Produce clear briefing and advice for senior officials and ministers.

The team has worked recently on high profile projects including a programme of work on assessment of the risks associated with the recent conflict in the Middle East and the potential impacts on the UK economy, including through macroeconomic modelling and scenario analysis. The team has worked, and is likely to continue to work, on the implications of geopolitical developments on the UK economy, including supply chain disruption, economic resilience, and trade, from a central macroeconomic perspective. Beyond these key areas of focus, the team has a broader portfolio of work, with recent work on pandemic preparedness and climate related risks. A future programme of work is expected on epidemiological-macroeconomic modelling. Future work is likely to cover a similarly broad range of risks affecting the UK economy, depending on what happens in the world.

The team uses a range of analytical tools, including code-based working and cloud-based analysis. We welcome applications from people who already have technical analytical skills, and from people who would like to develop these skills further. Some candidates may bring specialist modelling experience, for example in macroeconomics, trade, epidemiology or other areas relevant to major risks. Others may bring broader economic, analytical or policy experience. The role could work well for economists with more generalist or policy experience. Each type of background and experience, or a combination, would be valuable in this role.

Applicants do not need to hold DV clearance on application, and candidates with existing security clearance at a lower level would be able to start and apply for DV in post.

If you would like to speak to the hiring manager informally prior to the closing date, please contact the hiring manager through the vacancy contact details on Civil Service Jobs.

There will be a candidate drop-in session for this role

Scheduled for 14 August 1400-1500.

It will be held on Microsoft Teams. This session will provide an opportunity to hear more information about the role and ask any questions with the Deputy Director for the team. This may be subject to change. If you would like to attend the drop-in session, please email [email removed].

Visa sponsorship is not available for this role.

Person specification

Application Stage

Required Qualifications

1. A degree in economics

In your application form, you’ll be asked to confirm that you hold this qualification. You will need to provide evidence of this qualification if you are invited to interview.

Application Stage

Applications should include a CV and a personal statement of up to 500 words. Your personal statement should explain how your experience meets the shortlisting criteria below. Your examples do not need to come from the Civil Service; we welcome evidence from different sectors, roles and working patterns.

Your CV and employment history will not be scored. They will be used to provide context for your application and to support discussion at interview.

We will assess applications against the following criteria:

• Economic analysis and judgement: ability to use economic evidence and judgement to understand a complex issue and explain what it means.
• Policy or decision impact: ability to use analysis, evidence or advice to contribute to a policy, operational or organisational decision.
• Clear communication: ability to explain complex analysis clearly to non-specialist audiences, in writing or verbally.
• Working with others: ability to build effective, positive and collaborative working relationships with colleagues from different teams or organisations.

Interview Stage

If you are successful at the application stage, you will be invited to interview where you will be assessed against the following criteria:

• Experience
• Technical skills - economic analysis
• Behaviours:
  • Communicating and Influencing
  • Making Effective Decisions
  • Seeing the Big Picture

Interview Task / Presentation

We may also ask you to complete a short task or presentation. Prior to your interview, we will contact you about a task / presentation that the panel would like you to deliver as part of the assessment. Further details will be communicated to you nearer the time.

Behaviours

We'll assess you against these behaviours during the selection process:

• Communicating and Influencing
• Making Effective Decisions
• Seeing the Big Picture

Technical skills

We'll assess you against these technical skills during the selection process:

• Economic Analysi