Please refer to the below documentation link for archival policy.
Also, there is a default trigger present with the name DefaultArchivalJobTrigger which can be scheduled as per need.
The above screenshot will only show the job type if a job is already created of that type. It is used for filtering the existing jobs.
Please try to create a new job using the below navigation.
Inside the Job control panel--Click on "Add new Job" and then search the archival job in the "Job Type".