Policy Adviser - Market Intelligence Delivery Team

Policy Adviser - Market Intelligence Delivery Team

• Sterling Markets
• Foreign Exchange
• Market Intelligence
• Financial Risk Management
• Middle Office
• Markets & Banking COO

Within Markets, Market Intelligence & Analysis Division (MIAD) leads on a significant element of the Directorate’s analytical and research outputs. It is uniquely situated in dealing room, and maintains a broad network of financial market contacts. We combine data analytics, economic modelling, research and market intelligence to advise and influence MPC and FPC policy makers. We input to the design of the policy tools required to implement the BOE's mission through financial markets. We also support work on medium-term structural issues in financial markets. Staff in MIAD work closely with colleagues in other Directorates (in particular Monetary Analysis, Financial Stability Strategy and Risk, International, Prudential Policy and the PRA).

Within MIAD, the Market Intelligence Delivery Team (MIDT) supports the Bank’s Market Intelligence (MI) mission. MI is information collected from a large global network of contacts to facilitate our understanding of international and domestic financial markets, and to inform its monetary, financial stability and supervisory policy decisions.

We ensure that MI is focused, relevant, analytically thorough, and disseminated to improve its impact. As well as collecting MI ourselves, we:

• Coordinate financial market monitoring;
• Develop and monitor rolling priorities for MI, based on consultation with MI teams, and interested colleagues and customers around the Bank;
• Support MI teams and gatherers in Markets. As part of this, we provide that staff are well trained and prepared to talk to contacts, while mitigating the inherent risks;
• Arrange and run forums to promote MI outputs, and debate and discuss market developments in an open and inclusive way;
• Actively work to increase the diversity of our MI contacts, including through the Meeting Varied People (MVP) initiative;
• Support the Markets Executive Director and MIAD HoD in their MI interactions with senior global market contacts, through Horizon Rounds in London and internationally, and via other markets forums;
• Provide MI and analysis to support analytical projects across Markets and the broader Bank;
• Provide briefing on current financial market themes and conditions, to Policy Committees and other senior colleagues. We also talk to external organisations, including other major central banks and HM Treasury, to brief them on market develloopments, and to exchange insights gained through MI.
  
  

Job Description

We are looking for a Policy Manager to join the team. Principal activities will include:

• Being a member of the MIDT management team, with responsibility for line management of a small analyst cohort. Contributing to all aspects of team management: for example, strategy & direction setting; work stream allocation & forward planning; staffing; training; & compliance.
• Leading analytical work (sometimes across Directorates) to deliver analysis to senior policy makers including FPC and MPC.
• Taking on a front-line role as an MI gatherer, building relevant financial markets knowledge and skills in engaging professionally with a wide range of external contacts; gathering feedback on MI activity and promoting the work of the MI Division.
• Managing one or more MI teams, taking the lead in setting that team’s strategy, directing and participating in thematic MI rounds and drafting and disseminating outputs to senior stakeholders.
• Providing MI Division insights / synthesised views into a range of outputs (including ad-hoc requests e.g. briefings).
• Providing briefing for, and attending, senior-level MI meetings in the UK and internationally, including crafting the agendas for such meetings.
• Preparing briefings for the MPC, FPC and other Committees on relevant financial market developments, and their implications for policymakers, including presenting to these Committees.
• Supporting the team’s priorities and initiatives, including implementation of Meeting Varied People, and the development of MI gatherers through the MI Learning Framework.
• Contributing to ensuring the Bank’s MI framework and function remains best in class.
• Effectively supporting MI staff by engaging in talent management and training activities.

MIAD is committed to promoting diversity, supporting the wellbeing of its staff, and to building an inclusive culture. We are keen to think creatively about how we craft jobs around the successful applicants which help to support a variety of flexible working arrangements including job shares, part-time working patterns, Bank network commitments, study and research.

Requirements

Minimum/Essential criteria

Essential requirements for the role include:

• Experience of working collaboratively with people from different fields to produce analysis;
• Experience of leading multiple workstreams and the ability to work flexibly across team boundaries;
• Analytical skills and an ability to get up to speed quickly with complex information;
• A good communicator, both in writing and verbally; and
• Ability to drive work streams independently with a focus on delivery.

Desirable requirements include:

• Prior experience of working on financial markets issues within or outside the Bank;
• Knowledge of monetary and/or financial stability policy and processes;
• Experience of engaging with senior external and internal partners;
• People management experience;
• Advanced economics, finance and quantitative skills;
• Experience in analysing large datasets with languages such as R or Python.

Candidates are encouraged to apply even if they meet only part of the requirements.

This is a people management role. You will be responsible for day to day management of analysts in the team and for defining roles and responsibilities. You will develop your team through sharing information effectively, mentoring and communicating a clear vision to ensure that staff are productive, engaged and motivated to deliver the area’s aims. This will include setting clear goals and stretching objectives that are aligned to those of the team, division and directorate. You will also be responsible for handling all staff-related matters that may arise.

The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us and we want our workplace to be inclusive. We value all forms of diversity, including but not limited to age, disability, ethnicity, gender, gender identity, race, religion and sexual orientation. One way we support diversity and inclusion is through our staff-run networks, which are summarised here.

We are fully committed to having a diverse and inclusive working environment, and are open to considering how the role might be carried out with flexible working. This role is therefore open to flexible working patterns.

Where a role can be carried out from home, we are working towards colleagues spending at least half of their time in the office, so that we can all benefit from working together in person, while maintaining the flexibility offered by home working. From 6 June 2022, we expect colleagues to spend a minimum of 40% of their working time in the office per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them and their team.

We are also committed to making adjustments for candidates and employees where possible, and have partnered with external expert organisations to support us in this. We are a member of the Disability Confident scheme, summarised here, and people who wish to apply under this scheme should check the box in the ‘Candidate Personal Information’ under the ‘Disability Confident Scheme’ section of the application.

We anonymise applications so hiring managers will not be able to see your personal information when reviewing your submission, including your CV. Please fully complete the application form questions as requested, as any incomplete submissions may not be reviewed.

The Bank of England is a distinctive institution and our rewards are one of the things that set us apart. As well as enjoying a competitive salary you will work in a collaborative, inclusive environment, with a subsidised restaurant, flexible working opportunities and plenty of wellbeing initiatives.

This specific role offers a base salary range of circa £62,700 - £79,470 per annum (depending on skills and experience) on a full-time basis.

In addition we also offer a comprehensive benefits package as detailed below. We encourage flexible working & part time working , therefore both salary and associated benefits will be adjusted on a pro-rata basis for part-time colleagues

• 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 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits. (Note that from April 2023 and for the Benefits year 2023/24, this will increase to 8%)
• 26 days annual leave with option to buy up to 12 additional days through flexible benefits. (Note: effective from April 2023)
• Private medical insurance and income protection.

Employment in this role will be subject to National Security Vetting clearance and the passing of additional Bank security checks in accordance with Bank policy from time to time. Further information of vetting and security clearance requirements for the role will be provided to the successful applicant. Further information about how the Bank processes personal data for these purposes, is set out in the Bank’s Privacy Notice at Privacy and the Bank of England | Bank of England.

The closing date for applications is 26 March 2023.

Please apply online, ensuring that you answer the application questions, complete the work history and submit your CV.