Financial Research Economist in London - Bank of England

Job Overview

London, England
Job Type
Full Time
Date Posted
12 days ago

Additional Details

Job ID
Job Views

Job Description

Job Posting

:04-Aug-2022, 6:06:59 AM


The Bank of England is the UK’s central bank. Our mission is to deliver monetary and financial stability for the British people.

The Bank of England is a diverse organisation. Each of its 4,000 people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

About FSSR and CMD

The Bank’s Financial Stability Strategy and Risk (FSSR) Directorate works towards a financial system that serves households and businesses in bad times as well as good. We are responsible for helping the Financial Policy Committee (FPC) identify risks to UK financial stability, assess the resilience of the UK financial sector and develop policy solutions to mitigate those risks and strengthen that resilience. To find examples of our past work and what we are currently focused on, have a look at some recent Financial Stability Reports.

Sitting within FSSR, the Capital Markets Division (CMD) focuses on risks to and the resilience of the market-based finance (MBF) system. This system is comprised of mostly non-bank financial institutions and channels savings to investments through securities rather than loans. We are interested in questions like: How do contractions in MBF affect the economy? Can the MBF system support the economy at times of weak loan supply from banks? Does the mismatch between the liquidity of assets and liabilities of money market funds and open-ended investment funds exacerbate redemptions from these funds in times of stress and, if so, how could this be reduced? How can security dealers meet elevated client demands to trade securities at times of stress while maintaining sound risk management and compliance with regulatory requirements? Could large margin calls strain the cash reserves of derivative users and, if so, how could such strains be reduced while ensuring that margins still protect counterparties?

Job Description

You will conduct research and policy analysis to assess and mitigate risks to UK financial stability from the MBF system. To help with that, the Bank has access to many commercial and regulatory datasets, including data on transactions in securities, repurchase agreements and derivatives. You will have opportunities to work with other researchers and policy analysts in the Bank, at other policy institutions and in academia. You will disseminate your work internally through notes and seminars, including for policymakers such as the FPC, and externally through conferences, staff working papers and academic journals.

We will support you in continuing to develop your skills once you join the Bank. We have a scheme to help new researchers to be successful and to have academic and policy impact.

The role can be tailored depending on your experience, working pattern and preferences, but there are some key elements:

Design and undertake research projects potentially addressing some of the questions listed above or discussed in the Bank of England Agenda for Research, notably under ‘non-banks’ within the ‘prudential framework’.
Disseminate research findings internally and externally, as described above.
Sitting within one of the teams in CMD (financial markets team, market behaviours team, asset management team, horizon scanning team) contribute to the policy work of the division. This is shorter-term analytical work, still aimed at assessing or mitigating risks to UK financial stability from the MBF system, but where the output is typically a note for internal circulation and discussion.
Collaborate with policy analysts and other researchers in the Bank or externally in the tasks above.

Role Requirements

Minimum Criteria:

Strong technical background: PhD in finance, economics or similar subject, or equivalent skills and experience. Proficiency in a programming language such as R, Python, MatLab or Stata. Knowledge of statistical and econometric techniques, such as time series analysis or panel data models.
Strong analytical skills. Attention to detail and ability to solve problems, including by breaking down complex issues in a methodical way.
Strong communication skills. Able to explain ideas and findings in clear and intuitive ways.
Excellent workload management. You will need to balance short-term policy analysis and long-term research projects and will often need to progress work on more than one project at the same time.
A collaborative and open working style. Research projects are often scoped and carried out with others.

Desirable Criteria:

Experience of working on policy issues relating to financial stability.
Experience in handling large datasets.
One or more research publications in a peer-reviewed journal.


Our Commitment to Diversity and Inclusion

The Bank values diversity and inclusion – we want to reflect the society we serve better, we want the best people to work for us irrespective of background, 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.

This role is open to job shares, flexible and part time working patterns.

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


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 of £45,900-£59,040 per annum, along with our comprehensive benefits package as follows:

• 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.

• 25 days annual leave with option to buy up to 13 additional days through flexible benefits.

• Private medical insurance and income protection.

Additional Information


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