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- Tasks: Manage economic forecasts and develop data science tools to enhance analysis.
- Company: Join the Office for Budget Responsibility, a key player in economic analysis and forecasting.
- Benefits: Enjoy flexible working hours, generous leave, and a strong pension scheme.
- Why this job: Make a real impact on economic policy while collaborating with a dynamic team.
- Qualifications: A degree in economics or analytical subjects; coding skills in R or Python preferred.
- Other info: Opportunities for part-time, job-share, or condensed hours available.
The predicted salary is between 32400 - 43200 £ per year.
Salary: £38,430 - £52,080
Contract Type: Permanent / Loan
Working Pattern: This post is available on a full-time, part-time or job-share basis, and flexible working hours can be accommodated.
Location: London
Looking to elevate your career with an outstanding opportunity at the Office for Budget Responsibility? If you want a pivotal role in crafting our economic analysis and forecasts, take part in ambitious projects, and use your proven skills to drive a significant impact, then this could be the role for you!
About the Team
Our economic modelling and analysis team of six works closely with other economy teams at the Office for Budget Responsibility (OBR). We are responsible for managing the OBR’s main macroeconomic model, forecast database, and other supporting models. We produce bespoke analysis for the forecast, design economic scenarios, and lead the economy chapter of the twice-yearly Economic and fiscal outlook. We are involved across the OBR’s wider analytical and research agenda, including publishing working papers and developing the OBR’s data and modelling infrastructure. We also contribute to the OBR’s other key publications, including the Fiscal risks and sustainability report and the Forecast evaluation report.
About the Job
In this role, you will:
- Manage the OBR’s macroeconomic forecast database and support running the main macroeconomic model during forecast events.
- Help develop the OBR's data science capabilities, including helping to build new tools and refine existing ones to use data effectively, improve our presentation of data, and streamline tasks.
- Lead on specific parts of the economy forecast and draft relevant sections of the Economic and fiscal outlook.
- Form part of the wider economy team’s standing analytical capacity, helping to deliver projects like re-estimating forecast models or designing scenarios, as well as responding to Budget Responsibility Committee requests on topical economic issues.
- Contribute to other OBR’s wider analytical programme, such as articles, working papers, the Fiscal risks and sustainability report, and the Forecast evaluation report.
About You
This role will suit you if you have a broad understanding of macroeconomics, or the ability to use data science techniques including a good knowledge of at least one major coding language (preferably R or python). You should be able to analyse and accurately interpret data from a range of sources to support informed decisions, identifying positives, negatives, risks and implications. You should be able to collaborate with others to identify areas for improvement and ways to simplify processes, both suggesting innovative ideas and supporting individuals with different needs to adapt to change. The role will require you to have an ability to work flexibly across multiple competing workstreams, prioritising the most important parts and delivering high-quality work to deadlines, even in challenging circumstances. You should also hold an undergraduate degree in economics or an analytical subject, or similar on-the-job experience.
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).
- Flexible working patterns (part-time, job-share, condensed hours).
- Access to a generous Defined Benefit pension scheme with employer contributions of 28.97%.
- 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.
For more information about the role and how to apply, please follow the apply link. If you need any reasonable adjustments to take part in the selection process, please tell us about this in your online application form, or speak to the recruitment team at hrrecruitment@hmtreasury.gov.uk.
Economist/Data Scientist employer: HM TREASURY-1
Contact Detail:
HM TREASURY-1 Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Economist/Data Scientist
✨Tip Number 1
Familiarise yourself with the Office for Budget Responsibility's recent publications and reports. Understanding their analytical approach and current economic scenarios will help you demonstrate your knowledge during interviews.
✨Tip Number 2
Brush up on your coding skills, particularly in R or Python. Being able to showcase your data science capabilities through practical examples or projects can set you apart from other candidates.
✨Tip Number 3
Network with professionals in the field of economics and data science. Attend relevant seminars or webinars to connect with others and gain insights into the latest trends and challenges in the industry.
✨Tip Number 4
Prepare to discuss how you've successfully managed multiple projects or competing workstreams in the past. Highlighting your organisational skills and ability to prioritise will resonate well with the interviewers.
We think you need these skills to ace Economist/Data Scientist
Some tips for your application 🫡
Understand the Role: Thoroughly read the job description for the Economist/Data Scientist position. Make sure you understand the key responsibilities and required skills, such as macroeconomic knowledge and data science techniques.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the job requirements. Emphasise your proficiency in coding languages like R or Python, and any experience with economic modelling or data analysis.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for economics and data science. Mention specific projects or experiences that demonstrate your ability to manage databases, develop tools, and contribute to analytical reports.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. A polished application reflects your attention to detail and professionalism.
How to prepare for a job interview at HM TREASURY-1
✨Understand the Role
Make sure you have a solid grasp of what the Economist/Data Scientist role entails. Familiarise yourself with the responsibilities, such as managing macroeconomic models and contributing to economic forecasts. This will help you articulate how your skills align with the job.
✨Showcase Your Technical Skills
Be prepared to discuss your experience with data science techniques and coding languages like R or Python. Bring examples of projects where you've used these skills to analyse data or improve processes, as this is crucial for the role.
✨Prepare for Scenario-Based Questions
Expect questions that assess your ability to handle real-world economic scenarios. Think about how you would approach designing economic scenarios or re-estimating forecast models, and be ready to explain your thought process clearly.
✨Demonstrate Collaboration Skills
Since the role involves working closely with other teams, highlight your ability to collaborate effectively. Share examples of how you've worked with others to identify areas for improvement or adapt to changes, showcasing your teamwork and communication skills.
