Economics and Country Risk (ECR) sits within the Risk Management Group (RMG) of UKEF. The Division works closely with UKEF’s Business Group (BG) to assess the risks of supporting UK exports. ECR is split into 2 G6 branches (1x G6 for Sovereign Risk and 1 G6 for Economic Analysis and Policy).
The Sovereign Risk Team provides assessments of economic and political risk factors related to UKEF’s sovereign business and pricing, as well as recommendations on cover policy and country exposure limits.
The postholder will play a crucial role in analysing economic and political risk in countries around the world, making policy proposals to senior UKEF directors, and helping to determine where UKEF can provide support for exports and on what terms. If you like working on a variety of macro and international economic issues in countries all around the world then this is a great role for you.
Job description
The Country Risk Economist is responsible for the accurate and timely production of sovereign risk reports and supporting the team in providing economic analysis on topical issues that have an impact on country risk.
The Country Risk Economist is responsible for the accurate and timely production of sovereign risk reports setting out clearly the economic and political risks associated with the country being assessed and the likelihood that any guarantees or insurance provided will result in paying out claims. This involves analysing the current macroeconomic vulnerability of the country, the likely path of economic policy, and the political situation that will affect how economic policies are determined. This involves collecting and analysing data and reports, discussions with other government departments and UK embassies, and for key countries may involve country visits.
We are recruiting for multiple roles within:
- Assistant Economist – Asia and South East Africa
- Assistant Economist – Americas and West Africa
Main Activities:
- To ensure UKEF’s cover and pricing policies reflect the risk in markets whilst enabling UKEF to meet its objective of supporting British exporters.
- To provide assessments and analysis of economic and political risk factors related to UKEF’s sovereign and corporate business. Produce timely and robust analysis, drawing credible and consistent conclusions.
- To monitor developments across the regions, maintaining and building a high level of expertise and knowledge of country risk and macroeconomic matters.
- Represent the Department’s risk assessments and cover policies to internal and external parties and promote and communicate UKEF’s activities. Provide effective representation at OECD Country Expert meetings (if required), and Cross-Whitehall meetings.
- To work with RAD in the evaluation of case specific risks, including, alongside country and market risk, commodity dependency, oil price risk, microeconomic risk such as the industry environment and regulatory system, business cycles and price volatility, competition, entry barriers and product diversification, banking sector systemic risks and the need for additional security or covenants.
- To assist with the development and help maintain the integrity of the Department’s risk management systems.
- Maintain, expand and keep up to date with international macroeconomics, international trade and risk management theory and empirical developments. This should include reading both relevant academic papers, discussion pieces, attending seminars and conferences.
This list is not exhaustive, and you may be required to carry out additional duties according to business needs.
Person specification
Essential
Qualifications
- Degree in Economics (A)
Skills/Ability
- Ability to analyse and interpret data and to organise and present results. (A, I)
- Attention to details e.g. ability to identify errors, issues, and other anomalies. (I)
- Good oral and written communication skills, including ability to respond with authority and credibility within area of responsibility. (A, I, P)
- Good at listening and ability to network. (I)
- Ability to work unsupervised but know when and where to seek advice. (I, P)
- Ability to share knowledge with others. (I, P)
Other Requirements e.g. travel, languages
- Some overseas travel maybe required. (A)
Qualifications
- Seeing the Big Picture
- Making Effective Decisions
- Delivering at Pace
- Communicating and Influencing
- Working Together
We only ask for evidence of these behaviours on your application form:
- Making Effective Decisions
- Delivering at Pace
Technical skills
We'll assess you against these technical skills during the selection process:
- Technical - A 10-minute presentation (provided to shortlisted applicants) based on a topic determined by UKEF and will need to be prepared in advance
