Senior Research Assistant in Monetary & Financial Conditions
- Employer
- Bank of England
- Location
- Leeds, West Yorkshire, United Kingdom
- Salary
- Competitive Salary
- Closing date
- Nov 10, 2024
View more categoriesView less categories
- Job Role
- Accounts Assistant
- Sector
- Finance
- Contract Type
- Permanent
- Hours
- Full Time
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Description
Department overview
Monetary Analysis (MA) provides the core analytic support that underpins the setting of Bank Rate each month by the Monetary Policy Committee (MPC) to meet the inflation target. We are closely linked to the MPC Unit, which supports the external members of the MPC.
MA consists of five divisions plus the Bank’s Agency network and the new Monetary Policy Transformation Unit:
Within MA, MFCD produces joined up expert analysis and policy advice on monetary, credit and financial conditions, their relationship with the real economy and the transmission of monetary policy. Critically we use this expertise to design and evaluate the monetary policy toolkit.
MFCD is organised into three teams:
• The Interest Rate and Asset Pricing team extracts policy-relevant information from financial markets and assesses the evolution of financial conditions.
• The Credit, Banking and Finance team analyses credit provision to the real economy, including both bank credit and capital markets financing.
• The Policy Framework Team supports the design and evaluation of the monetary policy toolkit.
We collaborate extensively with other areas of the Bank, including with colleagues in Markets, FSSR and PRA.
MFCD Research Assistant team
The MFCD Research Assistant (RA) team is made up of four RAs in total, and its work sits at the heart of the division by supporting the model infrastructure and data needs across all of the division’s teams. Members of the RA team are known as experts on financial markets data, and as the go-to team on these data, interact with colleagues across MA and Markets in particular, as well other areas of the Bank, e.g. DSD, FSSR, and private offices.
Job description
We are looking for someone that is enthusiastic and hard-working, and keen to gain exposure to policy work in an exciting, dynamic, and high-profile area of the Bank.
The role combines day-to-day activities, most importantly producing model outputs for internal and external purposes, with contributions to bigger analytical pieces of work and briefings for senior colleagues. You can expect to be involved with data collection and management.
You will work closely with the other members of the RA team to play a key role in assisting analysts and economists with their research projects and policy analysis. The work will be varied, interesting, fast-paced, and challenging.
Depending on your interest and experience, there is scope to develop and demonstrate analytical skills, financial economics knowledge and/or coding skills in the role.
Key responsibilities will include:
Minimum (Essential) Criteria:
Desirable Criteria:
Our Approach to Inclusion The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Salary and Benefits Information We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate. London salary ranging from £30,320 - £34,110. Leeds salary ranging from £27,280 - £30,690. In addition, we also offer a comprehensive benefits package as detailed below:
The Application Process Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two stages: an analytical exercise and an interview.
This role closes on 3 November 2024.
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
Department overview
Monetary Analysis (MA) provides the core analytic support that underpins the setting of Bank Rate each month by the Monetary Policy Committee (MPC) to meet the inflation target. We are closely linked to the MPC Unit, which supports the external members of the MPC.
MA consists of five divisions plus the Bank’s Agency network and the new Monetary Policy Transformation Unit:
- Current Economic Conditions Division (CECD)
- External Engagement Division (EED)
- Monetary and Financial Conditions Division (MFCD)
- Monetary Policy Outlook Division (MPOD)
- Structural Economics Division (SED)
- Monetary Policy Transformation (MPT) unit
- We are also closely linked to the MPC Unit, which supports the external members of the MPC. As well as a Monetary Policy COO Division which collaborates with senior management to determine the strategic direction and culture of the Monetary Policy governorship and empower the area with the right people, processes, information and technology to deliver that strategy.
Within MA, MFCD produces joined up expert analysis and policy advice on monetary, credit and financial conditions, their relationship with the real economy and the transmission of monetary policy. Critically we use this expertise to design and evaluate the monetary policy toolkit.
MFCD is organised into three teams:
• The Interest Rate and Asset Pricing team extracts policy-relevant information from financial markets and assesses the evolution of financial conditions.
• The Credit, Banking and Finance team analyses credit provision to the real economy, including both bank credit and capital markets financing.
• The Policy Framework Team supports the design and evaluation of the monetary policy toolkit.
We collaborate extensively with other areas of the Bank, including with colleagues in Markets, FSSR and PRA.
MFCD Research Assistant team
The MFCD Research Assistant (RA) team is made up of four RAs in total, and its work sits at the heart of the division by supporting the model infrastructure and data needs across all of the division’s teams. Members of the RA team are known as experts on financial markets data, and as the go-to team on these data, interact with colleagues across MA and Markets in particular, as well other areas of the Bank, e.g. DSD, FSSR, and private offices.
Job description
We are looking for someone that is enthusiastic and hard-working, and keen to gain exposure to policy work in an exciting, dynamic, and high-profile area of the Bank.
The role combines day-to-day activities, most importantly producing model outputs for internal and external purposes, with contributions to bigger analytical pieces of work and briefings for senior colleagues. You can expect to be involved with data collection and management.
You will work closely with the other members of the RA team to play a key role in assisting analysts and economists with their research projects and policy analysis. The work will be varied, interesting, fast-paced, and challenging.
Depending on your interest and experience, there is scope to develop and demonstrate analytical skills, financial economics knowledge and/or coding skills in the role.
Key responsibilities will include:
- Producing charts for the Financial Markets and Credit pre-MPC presentations, as well as for MFCD’s analytical products.
- Updating MFCD’s macro-financial models on a regular basis
- Leading on the production of quarterly Credit Conditions and Bank Liability Survey, with opportunities to contribute to the analysis of the results
- Providing expert data support on a wide range of data sources, including the use of a Bloomberg terminal, and money, credit, and banking data produced internally
- Using coding skills to help us manage, automate, and improve our model infrastructure.
Minimum (Essential) Criteria:
- Strong IT skills with an excellent working knowledge of Excel.
- Evidence of being a strong team player and collaborating closely with colleagues.
- Evidence of strong organisational skills, with an ability to independently lead strands of work and prioritise a varied task list.
- Track record of working efficiently and accurately to often tight and changing deadlines.
- A keen interest in understanding the drivers of financial and credit conditions, such as financial markets and how they function, or bank lending.
- Strong communication and interpersonal skills to support frequent interactions with staff of varying levels of seniority across the Bank.
Desirable Criteria:
- Previous experience of working on financial markets or credit conditions/banks
- Some experience of using programming languages such as R and Python
- Previous experience using financial market data sources such as Bloomberg and Datastream, or credit, money, and banking data produced by the Bank
Our Approach to Inclusion The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.
We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees in the recruitment process where they're needed.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.
Salary and Benefits Information We encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate. London salary ranging from £30,320 - £34,110. Leeds salary ranging from £27,280 - £30,690. In addition, we also offer a comprehensive benefits package as detailed below:
- A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.
- A discretionary performance award based on a current award pool.
- A 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.
- 26 days’ annual leave with option to buy up to 12 additional days through flexible benefits.
- Private medical insurance and income protection.
The Application Process Important: Please ensure that you complete the ‘work history’ section and answer ALL the application questions fully. All candidate applications are anonymised to ensure that our hiring managers will not be able to see your personal information, including your CV, when reviewing your application details at the screening stage. It’s therefore really important that you fill out the work history and application form questions, as your answers will form a critical part of the initial selection process.
The assessment process will comprise of two stages: an analytical exercise and an interview.
This role closes on 3 November 2024.
Please apply online, ensuring that you complete your work history and answer ALL the application questions fully and in detail as your application will not be considered if all mandatory questions are not fully completed.
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