HM Treasury
Head of Monetary Policy
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Job Summary
This post can be based in London (1 Horse Guards Road) or Darlington (Feethams House).
Working at HM Treasury puts you at the heart of government, making a difference to the UK economy and ultimately to people’s lives right across the UK.
Jobs at the Treasury are fast-paced, fun and can offer unparalleled perspective – not least the opportunity to advise Ministers on the decisions which directly determine the UK’s prosperity. Deep in our DNA is a commitment to empowering our people: maximising individual and collective impact, with interesting work no matter your role or seniority.
Day-to-day you could be supporting Ministers to decide the right level of a specific tax or line of government spending; helping maintain the stability of financial markets; analysing the long-term trends impacting the future of the economy; or enabling this work as part of our vital corporate functions.
We are a high-performing department and proud to have outstanding staff from a wide range of backgrounds. We are also a friendly, inclusive and sociable workplace that prides itself on fostering great team spirit. Our two largest offices are 1 Horse Guards Road in London, opposite St James’ Park, and the Darlington Economic Campus, which also contains eight other departments. We work seamlessly across all our sites, including Norwich, Birmingham and Leeds, as one Treasury.
We are both a 1,000-year-old institution and dynamic, forward-looking economics and finance ministry, with a strong direction set by our organisational strategy, the Future Treasury Vision. The 21st century offers huge opportunities and poses new challenges for the UK. Working at the Treasury is your chance to help the country chart the right course.
Job Description
This post offers an excellent opportunity for candidates looking to work on an exciting range of topics and develop a broad range of skills. The post holder will be joining an energetic community of analysts and policy advisers.
Key Responsibilities Include:
- Advising the Chancellor, Special Advisers and the Treasury’s Executive Management Board (EMB) on the evolution of the UK’s monetary policy framework. Explore policy options for the remit of the Monetary Policy Committee (MPC) to support the delivery of the government’s economic objectives, and the implications of trends, such as low structural interest rates.
- Advising the Chancellor and EMB on UK monetary policy developments. Including changes in the stance of monetary policy (including unconventional monetary policy such as Quantitative Easing/Tightening) and the consequences for the government’s economic and fiscal objectives.
- Ensuring the coordination of monetary and fiscal policy by supporting the Chief Economic Advisor in their role as Treasury representative to the MPC and the Chancellor’s discussions with the Governor of the Bank of England.
- Leading the branch’s analysis on the economic and operational implications of monetary policy decisions, and potential future monetary policy tools.
- Supporting the Treasury’s Chief Economic Advisor in appointing external members to the MPC. This involves designing and running a fair, open and competitive recruitment process.
- Developing and maintaining engagement with the Bank of England staff.
- Line managing one HEO and one SEO - providing leadership, support and stretching opportunities.
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Candidate Drop-In Session
The hiring manager will be running a candidate drop-in session to give you greater insight about the role and HM Treasury, and ask any questions you might have. If you would like to join us, use the link below to join the call at the right time.
Microsoft Teams meeting – Monday 5th October at 16:30
- Join: https://teams.microsoft.com/meet/330626441807828?p=e40QTjOIAeQfwLVdC0
- Meeting ID: 330 626 441 807 828
- Passcode: 3iv2Zj3h
Visa sponsorship is not available for this role.
Person Specification
Required Qualifications:
- Economics qualification to at least an undergraduate level, or equivalent
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.
Application Form
Applications should consist of a CV including your employment history, and a 250-word statement demonstrating evidence of each of the below shortlisting criteria. Your CV and employment history won’t be scored. It’s used to give context to your application and support discussions at interview.
The panel will review applications and invite those that best demonstrate evidence of the shortlisting criteria below for interview. Please keep this in mind when writing your application.
Please note that only applications submitted through Civil Service Jobs will be accepted.
Shortlisting Criteria
- Experience of leading across teams to deliver high-quality advice and analysis. This ability would preferably be evidenced by a strong background of applying economic and/or policy thinking.
- Delivering at Pace: An ability to set clear workplans, prioritise effectively and deliver both long term projects and tasks to tight deadlines through your team.
- Seeing the Big Picture: Ability to keep on top of a wide agenda, thinking strategically and synthesising a range of analysis to communicate a clear conclusion.
The lead criterion is: Experience
If we receive a high volume of applications, we’ll first sift using the lead criterion only. Those meeting the minimum score will then be assessed against all remaining criteria.
Interview Stage
If you are successful at the application stage, you will be invited to interview where you will be assessed against the following criteria:
Assessment Criteria
Strengths
- Technical skill - Understanding economics and economic policy issues
Behaviours:
- Communicating and Influencing
- Seeing the Big Picture
- Delivering at pace
Interview Task / Presentation
Prior to your interview, we will contact you about a task / presentation that the panel would like you to deliver as part of the assessment. Further details will be communicated to you nearer the time.
Assessment Against Criteria
Qualifications
- Economics qualification to at least an undergraduate level, or equivalent.
Behaviours
We'll assess you against these behaviours during the selection process:
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- Delivering at Pace
- Seeing the Big Picture
- Communicating and Influencing
We only ask for evidence of these behaviours on your application form:
- Delivering at Pace
- Seeing the Big Picture
Technical skills
We'll assess you against these technical skills during the selection process:
- Understanding economics and economic policy issues
Benefits
Alongside your salary of £59,690, HM Treasury contributes £17,292 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides (opens in a new window).
- Generous Annual Leave - 25 days (rising to 30 after 5 years), plus public holidays and the King’s birthday.
- Outstanding Pension Scheme - Defined Benefit pension with employer contributions of 28.97%
- Parental Leave Packages - Including 6 months’ occupational pay for maternity/adoption, shared parental leave options.
- Advance Schemes & Discounts - Rental deposit, cycle-to-work, SmartTech, season ticket loans, and access to HM Treasury’s benefits portal for a wide range of discounts.
- Flexible & Hybrid Working - Options include part-time, job-share, compressed hours, flexitime, and hybrid working.
Hybrid working: HM Treasury operates an office based working approach across all Treasury sites. There is an expectation of a minimum of 60% attendance in the office. Please be aware that this role can only be worked in the UK and not overseas.
The office working expectation is linked to the location of the role. If you apply to a post in a single location, then you will not be able to meet this expectation at any of our other sites or move your role to another location. Some roles may not be suitable for hybrid working, it will be stated in the role profile if the role cannot accommodate this.
You can review HM Treasury’s full offer here.
Artificial Intelligence
Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.
Selection Process Details
This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Strengths, Experience and Technical skills.
Candidate Guidance
Please review the candidate guidance for an overview of the Success Profiles and STAR approach, along with top tips for applications and interviews.
Recruitment Timeline
- Closing date: Wednesday 14th October 2026 at 23.55
- Shortlisting: 15th October 2026
- Interviews: w/c 26th October 2026
This timeline is indicative and may be subject to change. We will inform you if there is a substantial change to the recruitment timeline.
If your contact details change at any time during the selection process, please ensure you update your Civil Service Jobs Profile.
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