The Bank of England is the central bank of the United Kingdom. Standing at the centre of the UK's financial system, the Bank is committed to promoting and maintaining monetary and financial stability. The Monetary Policy Committee (MPC) of the Bank of England has responsibility for formulating monetary policy.
The MPC comprises the Governor and the two Deputy Governors of the Bank, two of the Bank’s executive directors, and four external members appointed by the Chancellor of the Exchequer. Candidates are sought for the role of External Member of the MPC.
This is a high profile and influential role, requiring strong and proven economic and analytical skills. Candidates must demonstrate that they have used their economic expertise operating at a very senior level in business, financial markets, a policymaking environment or academia – as a leader in their chosen profession or field of economics.
This role requires outstanding communication skills; candidates must be able to make a strong contribution to the MPC's communications, explaining policy decisions to the public. Candidates must be independently minded and be able to exert their influence within the Bank, the MPC and in the wider external policy debate.
External MPC members are appointed on a part time basis averaging three days a week. Appointments are for a term of three years, and members may serve up to two terms.
Total compensation will be £131,771 plus healthcare benefits.
External MPC members are not required to hold UK nationality.
For further information on the role and application process please visit http://www.hm-treasury.gov.uk/mpcmember.htm. To request an application pack please email our retained consultants, Tribal Resourcing at tgss@tribalresourcing.com or for a hard copy please call 0845 313 3153.
The closing date for applications is Monday 31 January 2011. Interviews are expected to take place in the week commencing 14 February 2011. The successful candidate will be announced at the end of February and the appointment is expected to commence on 1 June 2011.
The Bank of England is committed to ensuring it has a truly diverse workforce.All disabled applicants will be guaranteed an interview, provided they meet the minimum criteria for the post, and state their eligibility in their covering letter.