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Economist - Scenarios & Macro Modelling at Oxford Economics
London, United Kingdom
Job Descrption
Department: Macro Consulting
Employment Type: Full Time
Location: London, UK
Description
Oxford Economics, a leading global economic research and consultancy firm, is looking for an Economist as part of our expanding Macroeconomic Modelling and Scenarios team. The position will be based in our London or Oxford office.
The team is responsible for developing bespoke scenarios for a variety of purposes such as strategic planning or stress testing; and supports financial sector clients with bespoke asset return modelling to inform their asset allocation strategies. We also lead the company’s research around the macroeconomic impacts of climate change. Most of the team’s projects involve working with the Oxford Economics' Global Economic Model (GEM), the most widely used commercial large-scale macroeconomic model in the world.
What does the team do?
The team is responsible for:
• The Global Scenario Service (GSS) which uses scenario analysis to... explore the implications of key risks to the world economy such as the cost of living crisis or a sell-off in asset prices;
• The Global Climate Service (GCS) which includes producing regular research briefings and analysis on climate-related issues (e.g. the economic cost of global warming) and developing climate scenarios covering a wide range of potential risks.
• A long-term scenario service that seeks to understand the impact of key themes such as demographics, artificial intelligence, and geopolitical tensions across a range of macroeconomic and financial indicators;
• Developing bespoke scenarios for a variety of purposes such as strategic or business planning, policy design, regulatory stress tests, and to inform portfolio allocation decisions;
• Writing bespoke research reports for our clients (e.g. the economic outlook, impact of climate policies, risk outlook);
• Generating statistical scenarios designed for IFRS 9 and CECL accounting standards; and
• Improving the properties of the GEM, with recent additions including an enhancement of financial sector modelling (e.g. equities, government bond yields, credit spreads) as well as climate policy levers.
Key Responsibilities
An Economist in the Macroeconomic Modelling and Scenarios team will take on a range of tasks that include:
• Working with the GEM, the most widely used commercial large-scale macroeconomic model in the world, to produce regulatory stress tests and economic scenarios for a variety of end-uses;
• Writing up scenarios or economic research under one of our subscription services – GCS/ GSS/long-run scenarios - or for consultancy projects;
• Developing bespoke models and forecasts for our clients, to support with their business planning or asset allocation decisions;
• Giving overview presentations to prospects about the GEM, the team’s subscription-based products and our wider scenarios and modelling capabilities;
• Contributing and implementing ideas that will improve the GEM; and
• Managing client queries regarding our modelling and scenario analysis.
Skills, Knowledge and Expertise
Essential:
• Around 1-2 years of work experience as an economist or a related field.
• A strong education in Economics to at least an undergraduate level. A postgraduate degree in Economics is highly desirable.
• Ability to demonstrate a good understanding of current economic and policy challenges facing the global economy.
• Excellent analytical and quantitative skills.
• Excellent written and verbal communication, with the ability to explain economic concepts to a diverse audience, including non-specialists.
• Ability to work effectively in teams across different offices and to tight deadlines.
Desirable:
• Previous experience in using applied macroeconomic models for forecasting and/or scenario analysis.
• Knowledge of statistical modelling software (such as Python, R and/or EViews).
Benefits at Oxford Economics
Here are some of the benefits we offer in the UK to ensure you feel valued, supported, and thrive at work:
- Private Healthcare
- Employee Assistance Program
- Enhanced Maternity and Paternity Leave
- Workplace Nursery Scheme
- Cycle to Work Scheme
- Hybrid/Flexible Working
- Team Gatherings and Connection Boost
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