External Member of the Monetary Policy Committee of the Bank of England

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 consists of nine members - the Governor, the Deputy Governors for Monetary Policy and Financial Stability, two members appointed by the Governor (currently the Deputy Governor for Markets & Banking and the Bank's Chief Economist) and four external members appointed by the Chancellor.

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. External appointments to the MPC are for a three-year term. There is the possibility of reappointment at the end of the term and external MPC members can serve a maximum of two terms. Total compensation is currently £137,787. This includes compensation in lieu of pension, and is reviewed annually by the Bank’s Remuneration Committee.

To apply for this role and for further information on the role and application process, please click the APPLY button.

The closing date for applications is 25 February 2016.
Interviews are expected to take place in the first half of March.
The appointment is expected to commence around 9 August 2016.

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.

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