Head of Monetary Policy

North East Combined Authority; Tees Valley; Hybrid; GBP 60,000 - 67,000; Full time

Benefits offered by this job

25 days annual leave

Flexible working patterns

Parental and adoption leave

Defined Benefit pension scheme

Cycle-to-work scheme

Staff networks

Job summary

HM Treasury is recruiting for a Head of Monetary Policy in Darlington. You will lead the team responsible for shaping macroeconomic policy thinking and advising the Chancellor on monetary policy.

You will advise on MPC remit, engage with the Bank of England, and oversee policy analysis while developing a high-performing team in a high-profile environment.

Qualifications

• Strong track record of leading across teams to deliver high-quality analysis and advice.
• Ability to think strategically, exercise sound judgement and prioritise in a fast-paced environment.

Responsibilities

• Advise the Chancellor, EMB and senior officials on the evolution of monetary policy and MPC remit.
• Support engagement with the Bank of England and coordinate monetary and fiscal policy as Treasury representative to the MPC.
• Lead the branch’s analysis on economic and operational implications of monetary policy decisions.
• Design and run fair, open, and competitive recruitment processes for external MPC appointments.
• Develop and maintain engagement with Bank of England staff.
• Lead and develop a small team with clear direction and growth opportunities.

Skills

Leadership

Strategic thinking

Policy advisory

Judgement

Education

Economics degree

Job description

Head of Monetary Policy

• Salary: National: £59,690 - £66,500 (If the successful candidate is a current Civil Servant joining on level transfer, HM Treasury will honour their current substantive salary if higher.)
• Contract Type: Permanent
• Working Pattern: This post is available on a full time, part time or job share basis, and flexible working hours can be accommodated.
• Location: Darlington (Feethams House)

We are recruiting for a Head of Monetary Policy based in our Darlington Office. This is an opportunity to lead the team responsible for developing HM Treasury’s thinking and advice for the Chancellor on macroeconomic policy.

About the Team

The Macroeconomic Policy Team develops HM Treasury's advice to the Chancellor on macroeconomic policy, including monetary policy strategy and short-term fiscal policy. The team comprises four branches:

• Strategy and Framework – Leads analysis and advice on the Government's macroeconomic strategy and coordinates cross-HMT macroeconomic discussions.
• Monetary Policy – Advises on the monetary policy framework, supports engagement with the Bank of England, and provides analysis ahead of Monetary Policy Committee meetings and key ministerial engagements.
• Projects – Delivers short-term analytical and strategic projects on priority macroeconomic issues.
• Research – Leads deeper analytical work on fiscal and monetary policy issues and builds the team's external research and academic engagement.

About the Job

This role sits at the heart of economic policymaking, leading HM Treasury's work on monetary policy and supporting engagement with the Bank of England. You will provide advice to ministers and senior officials on some of the most important macroeconomic issues facing the UK, while leading a high-performing team in a fast-paced and high-profile environment.

• Advising the Chancellor, Special Advisers and the Treasury’s Executive Management Board (EMB) on the evolution of the UK’s monetary policy framework, exploring policy options for the remit of the Monetary Policy Committee (MPC) to support the delivery of the government’s economic objectives, and the implications of trends.
• Advising the Chancellor and EMB on UK monetary policy developments, including changes in the stance of monetary policy and the consequences for the government’s economic and fiscal objectives.
• Ensuring the coordination of monetary and fiscal policy by supporting the Chief Economic Advisor in their role as Treasury representative to the MPC and the Chancellor’s discussions with the Governor of the Bank of England.
• Leading the branch’s analysis on the economic and operational implications of monetary policy decisions, and potential future monetary policy tools.
• Supporting the Treasury’s Chief Economic Advisor in appointing external members to the MPC. This involves designing and running a fair, open and competitive recruitment process.
• Developing and maintaining engagement with the Bank of England staff.
• Leading and developing a small team, providing clear direction, support and opportunities for growth.

About You

We're looking for someone with a strong track record of leading across teams to deliver high-quality analysis and advice. You will be able to think strategically, exercise sound judgement and prioritise effectively in a fast-paced environment. The successful candidate will hold an economics qualification at undergraduate level or above.

Some of the Benefits our people love!

• 25 days annual leave (rising to 30 after 5 years), plus 8 public holidays and the King’s birthday (unless you have a legacy arrangement as an existing Civil Servant). Additionally, we operate flexitime systems, allowing employees to take up to an additional 2 days off each month
• Flexible working patterns (part-time, job-share, condensed hours)
• Generous parental and adoption leave packages
• Access to a generous Defined Benefit pension scheme with employer contributions of 28%
• Access to a cycle-to-work salary sacrifice scheme and season ticket advances
• A range of active staff networks, based around interests (e.g. analysts, music society, sports and social club) and diversity