Legal, finance and accounting

Senior professional economist

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Design, implement, and lead programmes of economic analysis to support decision-making.

Summary

This occupation is found in both the public and private sectors. Senior professional economists (SPEcs) may work in industries such as energy, telecommunications, banking, finance, and pensions. They may also work as consultants within specialist consulting firms.

The broad purpose of the SPEc role is to design, implement, and lead programmes of economic analysis that support decision-making and improve outcomes for clients and stakeholders.

SPEcs deliver high-quality economic advice and analysis to both internal and external stakeholders. They communicate their findings in a variety of formats, tailored to the needs and levels of understanding of their audience. They use economic models to demonstrate relationships between key variables and may develop business cases for board approval, setting out the economic impacts of different courses of action.

SPEcs apply advanced economic knowledge and skills across a wide and often unpredictable range of contexts. They provide advice on the impacts of policy decisions and propose measures to mitigate risks or maximise benefits. Their work may support major spending programmes, investment decisions, commercial activities such as mergers and acquisitions, and legal proceedings. For example, they may assess the likely outcomes of investment in a new factory or the effects of proposed government legislation.

In their daily work, a SPEc interacts with a wide range of stakeholders, including lawyers, senior leaders, board members, local leaders, Permanent Secretaries, and Ministers. They also work closely with finance professionals and other specialists such as social researchers, statisticians, operational researchers, scientists, and engineers.

SPEcs draw on the expertise of colleagues and specialists, including statisticians and corporate financiers, to inform and strengthen their advice. They frequently engage with stakeholders, manage projects, contribute to team activities, and undertake leadership responsibilities. Depending on the nature of the organisation and project, they may commission work from others, oversee analysis, and conduct their own desk-based research.

They work independently as well as collaboratively, often leading teams and influencing others through their expertise. In larger organisations, they may manage or coach junior staff. In smaller organisations, they may work with greater autonomy and less professional oversight, and may be managed by a non-economist.

A SPEc is responsible for developing and implementing programmes of analysis that underpin policy and business decisions. They design and carry out research across a range of areas, such as assessing the value of non-market goods and services or evaluating the impacts of climate change in specific contexts. They operate in complex environments and must understand the wider strategic context in which their advice is used.

They take a critical approach to analysing, interpreting, and evaluating complex data. They have a strong understanding of a broad range of economic methodologies and select the most appropriate techniques for the task, including econometrics and data science methods.

SPEcs develop specialist knowledge and are recognised as experts in their field. They demonstrate thought leadership and often specialise in particular areas of economics. They manage client relationships on a day-to-day basis, identify opportunities where analysis can add value, and communicate their conclusions with conviction and impact. They may also manage research or programme budgets and typically have substantial autonomy over their work.

Typical job titles include

Knowledge, skills and behaviours (KSBs)

• Knowledge
• Skills
• Behaviours