Bank of England Jobs – Deputy Agent North West Agency

Job Description:

The Agencies act as the ‘eyes, ears and voice’ of the Bank of England in their respective parts of the UK. You would be part of a team that informs the Monetary Policy Committee’s (MPC) and the Financial Policy Committee’s (FPC) assessment of the economic and financial environment through gathering, analysing and reporting economic intelligence from meetings with your contacts. We talk to hundreds of senior contacts across all sectors ranging from small firms and community groups to large global companies. We gain an outstanding insight into how firms operate, how activity is evolving, their future plans and the drivers of those developments. We write assessments to make sure that policymakers have a well-rounded view of economic conditions and prospects. We collate Agency intelligence from around the Network and present it directly to the MPC. We also accompany MPC members on visits around the UK.

Prior to Covid, most meetings with contacts were face to face, at the contact’s premises, and the job entailed substantial travel around the North West, by car and public transport. Since the outbreak of Covid, all meetings have been carried out by phone / video call from home. We expect this to continue through to the autumn. Once it is appropriate, the job will probably involve a mix of making phone calls from home /the office in Manchester, and travelling to contacts’ business premises.

Job Responsibilities:

• We gather, analyse and report economic intelligence from our regular meetings with businesses and other organisations, to inform the MPC and the FPC and equip them to make robust policy decisions;
• We communicate the Bank’s key policy messages and analysis to businesses and broader audiences. We give regular presentations on the Monetary Policy Report and Financial Stability Report to promote understanding and trust in the policy framework;
• We represent the Bank, providing visibility, transparency and explaining policymakers’ decisions and their context. We engage with schools and charities and take part in local events to capture a wide and inclusive range of views. We coordinate interactions between our senior policymakers and our local contacts, so that they can hear their views first-hand. Through hosting those meetings, you will interact directly with senior staff from around the Bank.
• Each Agency has an ‘Area of Expertise’. In the North West, we focus on employment, pay and capacity utilisation, and we answer questions such as: how is furlough affecting employment prospects and are firms able to expand capacity as the economy recovers?
• We are following the “One Bank” strategy by building collaborative and effective relationships within the Agency network, and with other parts of the Bank.
• While delivering these key outputs, you will also support the Agent by:
  • Helping manage the Agency team and resources, and ensuring team cohesion.
  • Contributing to the Network’s broader work agenda by handling outputs on a variety of analytical topics, communications and IT issues.
  • Running reviews and oversight of the business contact base to ensure it is representative and up to date.
  • Developing effective working relationships with the Bank’s senior policymakers. This includes hosting visits and providing briefing and analysis on the region.

Job Requirements:

• Demonstrate a good understanding of the Bank’s approach to monetary and financial policy and its policy framework more generally, or an ability to learn quickly.
• Keep pace with Bank of England policy developments and key data.
• Have experience of establishing and developing relationships with senior members of staff, either within your organisation or the business community and an ability to gain good quality intelligence about economic conditions.
• Use analytical skills to assess the qualitative and quantitative information collected from contacts. This would include using Excel to analyse data from surveys.
• Work collaboratively and effectively with Bank colleagues, senior Bank staff and members of the Monetary Policy Committee & Financial Policy Committee.
• Communicate effectively, presenting information clearly and engagingly with audiences large or small, often including specialists or the general public, both written and in oral presentations.
• Work independently and deliver good quality outputs to agreed timetables.
• Have good judgement and discretion.

Job Details:

Company: Bank of England

Vacancy Type:  Full Time

Job Location: Manchester, England, UK

Application Deadline: N/A

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