Assistant Economist – Country Risk (Europe, Middle East, North Africa, Central Asia)

The Division

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.

About the Role

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 British exporters and on what terms. This role would be suited to someone with experience or an interest in macroeconomics and international economics, as well as geopolitics.

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 region they cover, building and then maintaining a high level of expertise and knowledge of matters impacting the markets, politics, and sovereign credit risk within the region.
• 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 other teams in UKEF to evaluate case specific risks, including, alongside country and market risk, climate change risk, regulatory and governance risks, risks relating to business or commodity cycles, 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 and models.
• 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

Degree in Economics.

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills.

The application must be completed by 23.55 on the day of the closing date for it to be accepted.

Use of Artificial Intelligence (AI)

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 for more information on appropriate and inappropriate use.

Please ensure that you read through the Candidate Information Pack attached to this advert, before applying.

All applications will be sifted against our essential criteria outlined in the personal specification. .

• Qualification: Degree in Economics. (A)
• Behaviour statements - 250 word statement on each of the following: Making Effective Decisions
• Working Together
• Statement of suitability - you should fully articulate in 500 words how you meet the essential criteria outlined in the person specification within the Information Pack.

For the initial sift your application will be evaluated against:

• Experience - Application and Statement of Suitability
• Behaviour statements - 250 word statement on each of the following: Making Effective Decisions
• Working Together

In the event of a large response an initial sift will be carried out on the following with successful applicants being progressed to the full sift:

• Essential criteria - Ability to analyse, interpret, and present (quantitative and qualitative) data to inform decision making. (A, I)
• Behaviour statements - 250 word statement on the following: Making Effective Decisions

If you are successful following the sift stage, you will be invited to an initial interview, via MS Teams; this will include the following assessment:

• Behaviours / Technical / Experience - a formal panel interview where you will be interviewed across all three behaviours highlighted in Appendix 1.
• Technical - you will be assessed across your technical expertise and acumen, in relation to the essential criteria:
• A case study exercise which will involve writing a short brief, to be prepared in advance, which will be discussed at the interview stage

Candidates will be assessed against the GES Technical Framework including: Application of Knowledge.

Details of interview panel members will be e-mailed to all successful candidates who are invited for interview.

Timetable

Please note that the interview dates are indicative.

Closing date for applications

23:55 on Sunday 13 September 2026

Notification of outcome of application

w/c 21 September 2026

Interviews to be held via MS Teams

w/c 28 September 2026

Feedback will only be provided if you attend an interview or assessment.