At a Glance
- Tasks: Analyse economic risks and develop policy responses to safeguard the UK economy.
- Company: Join HM Treasury, a key player in shaping economic policy.
- Benefits: Enjoy flexible working, generous leave, and a strong pension scheme.
- Other info: Collaborative team environment with opportunities for professional growth.
- Why this job: Make a real impact on the UK's economic future with diverse challenges.
- Qualifications: Degree in economics required; analytical skills are a plus.
The predicted salary is between 59690 - 66500 £ per year.
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: London (1 Horse Guards Road) or Darlington (Feethams House)
We are looking for economists who enjoy working on varied questions, have a proactive, creative approach to problem solving in unfamiliar areas, and can develop quick and effective economic assessment.
About the Team
The Economic Risks team plays a central role in assessment and analysis of economic risks and the policy response of government. The team is a collaborative team, which works with colleagues across HM Treasury, other departments, and external organisations to understand how risks are developing and what they could mean for policy. Economic risks include the range of potential acute emergencies and hazards as well as longer term chronic threats facing the country that could have macroeconomic implications. As well as considering the macroeconomic implications of all major economic risks, as laid out in the National Risk Register (NRR) – the published, external version of the National Security Risk Assessment (NSRA). The team conducts horizon-scanning for emerging and developing risks and maintains strong links across government departments with responsibility for assessment in different areas. The team is responsible for quarterly reporting on developments in economic risks, their likelihood and impact, and policy mitigation in response, through HM Treasury’s internal Economic Risks Board (ERG) and through reporting to the Executive Management Board (EMB). The team works on a broad range of issues. The breadth of the portfolio means that roles in Economic Risks offer exceptional variety, opportunities for analytical innovation, and direct engagement with high-profile policy questions. These roles are amongst the most exciting, interesting and varied roles within the organisation.
About the Job
This Grade 7 Economic Advisor role, understand and respond to risks that could affect the UK economy. The roles sit in the Economic Risks team, part of the Macroeconomic Conditions and Risks team in HM Treasury’s Economics Group. The team is responsible for assessment of risks to the UK economy—including acute shocks, and longer-term structural challenges—through horizon scanning, economic analysis, and supporting policy development. We are looking for economists who enjoy working on varied questions, have a proactive, creative approach to problem solving in unfamiliar areas, and can develop quick and effective economic assessment. The roles require bringing together evidence and analysis to support senior officials and ministers in understanding potential risks and policy choices. This work is extremely varied, and these roles can be suitable for economists with a range of skills. There is scope to shape the roles in line with the applicant’s experience and interests. There will be a large amount of support for development in the role.
The key responsibilities of the post-holder will be:
- Monitoring and assessment of emerging economic risks and what they could mean for the UK economy.
- Assessing the possible impact and likelihood of risks, using evidence, judgement, and qualitative and quantitative analytical frameworks.
- Develop quantitative analysis, scenarios, or tools to support risk assessment and policy advice.
- Contribute to development of HM Treasury’s policy thinking on how government can best prepare for, manage, or respond to economic risks.
- Working with colleagues across HM Treasury, other government departments, external organisations and academic partners in building a shared understanding of economic risks.
- Maintaining and developing relationships with a broad range of internal and external stakeholders, building consensus through positive and friendly communication and collaboration.
- Produce clear briefing and advice for senior officials and ministers.
About You
The team uses a range of analytical tools, including code-based working and cloud-based analysis. We welcome applications from people who already have technical analytical skills, and from people who would like to develop these skills further. Some candidates may bring specialist modelling experience, for example in macroeconomics, trade, epidemiology or other areas relevant to major risks. Others may bring broader economic, analytical or policy experience. The roles could work well for economists with more generalist or policy experience. Each type of background and experience, or a combination, would be valuable in these roles.
Qualifications
Required Qualifications: A degree in economics: In your application form, you’ll be asked to confirm that you hold this qualification. You will need to provide evidence of this qualification if you are invited to interview.
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.
Economic Adviser employer: HM TREASURY
HM Treasury is an exceptional employer, offering a dynamic work environment in Darlington where policy advisers can thrive. With a strong emphasis on personal development, flexible working arrangements, and generous benefits including a defined benefit pension scheme and extensive leave options, employees are encouraged to engage in meaningful projects that enhance their expertise and contribute to the UK's financial market innovation.
StudySmarter Expert Advice🤫
We think this is how you could land Economic Adviser
✨Dive into Local Government Events
Get yourself to local government events and public sector job fairs. These are great for meeting recruiters and understanding what different organisations, like HM TREASURY, are looking for. Plus, it shows your genuine interest in the sector!
✨Join Relevant Networks
Look for communities focused on public sector careers. Whether it’s local networking groups or online forums, connecting with professionals in the field can provide insider knowledge and opportunities that you won’t find on typical job boards.
✨Utilise Your University’s Resources
If you’re freshly graduated or still studying, make the most of your university's careers service. They often have exclusive partnerships with companies like HM TREASURY and can help you get your foot in the door for these full-time public sector roles.
✨Stay Updated with Government Initiatives
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We think you need these skills to ace Economic Adviser
Some tips for your application 🫡
Highlight Relevant Experience:In the public sector, having experience in community engagement, policy analysis, or project management stands out. Make sure to showcase any previous roles or volunteer work that reflects your understanding of public service values and how they've shaped your career path.
Showcase Your Knowledge of the Sector:When you’re applying for a government role, it’s crucial to demonstrate your understanding of the current political landscape and public policies. Consider including articles you've written or relevant projects that underline your capability to engage with these concepts effectively.
Tailor Your CV to Reflect Core Competencies:Government positions often require a clear demonstration of competencies such as communication, teamwork, and problem-solving. Try to structure your CV to highlight these skills, using specific examples of how you’ve applied them in past experiences, ideally with quantifiable outcomes where possible.
Craft a Compelling Cover Letter:Your cover letter is your chance to tell your story and convey your passion for public service. Discuss why you want to work for HM TREASURY and how your values align with their mission. Be genuine and let your enthusiasm shine through—this can really set you apart from other candidates.
How to prepare for a job interview at HM TREASURY
✨Get to Know Public Sector Values
Before your interview with HM TREASURY, dig deep into their mission and values, especially how they align with public service and community impact. Understand the key policies or initiatives they are involved in – you’ll want to show that you genuinely care about serving the community.
✨Brush Up on Regulatory Knowledge
Brush up on the regulations, laws, and compliance standards relevant to the role you’re applying for. Since this is the government and public sector, they might throw technical questions related to policy frameworks or project management best practices that you'll need to navigate day-to-day.
✨Highlight Teamwork and Collaboration
The government sector thrives on collaboration. Be ready to discuss how you've successfully worked in diverse teams or involved stakeholders in your projects. Show us how you bring people together to get a common goal achieved – that's what public service is all about!
✨Prepare Real-Life Examples
Craft a few STAR (Situation, Task, Action, Result) stories that demonstrate your experience in similar roles. Whether it’s a project that made a difference in the community or a challenging situation you managed, be ready to express how your skills and experiences make you a valuable asset for HM TREASURY.
