Executive Director, Monetary Policy in Leeds

About the Bank of England. We promote the good of the people of the United Kingdom by maintaining monetary and financial stability. This is a critical role in the development of UK economic policymaking, leading all of the Bank of England's work developing and preparing the analysis and advice used by the Monetary Policy Committee (MPC) in setting policy. Now is a unique time to join the Bank and lead the modernisation of how we support and communicate monetary policy, grounded in intellectual rigor, openness to challenge, and innovative approaches.

The Role. We are seeking an exceptional leader to join as Executive Director for Monetary Policy. This role is at the heart of UK monetary policy, providing intellectual leadership and operational oversight to ensure world-class analysis and advice for the Monetary Policy Committee. The role combines strategic vision with delivery: shaping how we analyse the economy, risks and uncertainties; how we consider policy options; and how we communicate decisions. You will lead the modernisation of our analytical capabilities - widening our approach and embedding innovation, strengthening analysis, modelling, data infrastructure and techniques including the use of AI and machine learning. This is an opportunity to influence the future of UK monetary policy and build enduring capability. The Executive Director for Monetary Policy will be a core member of the senior leadership team for Monetary Policy. You will report to the Deputy Governor for Monetary Policy and work alongside the Bank's Chief Economist.

Key Responsibilities. Provide strategic leadership for the Monetary Policy Area of the Bank, setting vision and priorities for analysis and advice to the MPC. Monetary Policy is made up of three Directorates; Economic Analysis, Monetary Policy Implementation and Research and Development. The first two report to the Executive Director alone, while the Research and Development Directorate also reports to the Chief Economist. Together these Directorates provide macroeconomic and monetary policy analysis and advice and produce the MPC's public communications. This includes an active analytical and research agenda across the frontier of monetary policy. And the Agency Network which meets businesses and community organisations to inform the Bank's policy committees. Lead the Monetary Policy Transformation Programme in response to the Bernanke Review. Modernise analytical capabilities, champion new modelling approaches, forecast and scenario frameworks, policy analysis and the use of data to strengthen the rigour and evidence base for policy decisions. Shape the Bank's analytical frontier, embedding innovation and continuous improvement. Drive cultural change, fostering openness, intellectual curiosity and diversity of thought, and creating an environment where challenge is welcomed. Represent the Bank externally, explaining the analytical framework, key judgments, risks and trade-offs that inform MPC decisions to a wide range of audiences. Engage with stakeholders across academia, markets and international institutions, maintaining two-way relationships to ensure external insights are channelled back into the Bank's analysis. Build and lead a diverse, high performing area, fostering a culture of inclusion and continuous improvement. Inspire confidence and clarity of purpose across staff and stakeholders. Attract, develop and retain talent across a staff of around 300 people and a budget of circ. £40m.

What We Are Looking For. Minimum Requirements. Expert knowledge of macroeconomics and monetary policy, with a track record of policy-relevant analysis. An inspiring and empowering leader of large teams, delivering to very high standards and short-, medium- and long-term timelines. Exceptional economic judgement and influencing skills. Commitment to diversity of thought and inclusion, with a leadership style that develops others, encourages constructive challenge and collaborates. Strong communication skills, with the ability to represent the Bank at senior levels with a wide range of stakeholders.

Why Join Us? This is an opportunity to shape the future of UK monetary policy at a time of significant economic change. You will work at the heart of the Bank's mission, alongside world-class experts, in an environment that values challenge and collaboration.

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.

Salary and Benefits Information. We encourage flexible working. This role offers a competitive salary. In addition, we also offer a comprehensive benefits package as detailed below: Currently a non-contributory, career average pension giving you a guaranteed retirement benefit of 1/80th of your annual salary for every year worked. There is the option to increase your pension (to 1/65th) or decrease (to 1/105th) in exchange for salary through our flexible benefits programme each year. The Bank has the discretion to vary standard accrual rates and dial up and dial down rates at any time and to withdraw dial up and dial down options at any time. A discretionary performance award based on a current award pool. An 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.

National Security Vetting Process. Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided to the successful applicant, and information about how the Bank processes personal data for these purposes, is set out in the Bank's Privacy Notice.

The Bank of England welcomes applications from all candidates, but as a UK Visas and Immigration (UKVI) approved sponsor, we have a responsibility to comply with the Immigration Rules and guidance. As such, our ability to employ individuals who require sponsorship for immigration purposes is limited. The Bank cannot guarantee that you and / or the role you are applying for will be eligible for sponsorship and that any application made to UKVI will be successful. Eligibility will therefore be considered on a case by case basis.

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 interview stages and a photometric assessment. This role closes on 23:59 on 6th January. 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.