Manager, Monetary Policy Implementation

1 month ago


Sydney, Australia Reserve Bank of Australia Full time

We are looking for two permanent Managers in the Monetary Policy Implementation (MPI) team within the Domestic Markets Department.

Who we are:
MPI is responsible for implementing the Reserve Bank Board’s monetary policy decisions, including designing and running the necessary operational facilities.

The section consists of two teams: MPI Dealing transacts in domestic repo and bond markets, and reports to the senior leadership team and the Board on developments in domestic markets and the market’s response to RBA communications; and MPI Analysis focuses on designing the Bank's system for implementing monetary policy (how the RBA controls the cash rate and influences other market rates) and analysing the first stage of monetary policy transmission. This includes monitoring liquidity conditions in short-term funding markets and forecasting changes in system liquidity, evaluating the Bank’s market operations and analysing the size and composition of the Reserve Bank’s balance sheet.

Both teams work collaboratively to analyse broader topics related to monetary policy implementation and conditions in domestic money markets and government bond markets.

About the roles:
- Contribute to the broader strategic direction and leadership of MPI and Domestic Markets Department, sharing accountability with other leaders for delivery of strategic objectives.- Support the Bank’s core monetary policy function by overseeing and directing research and analysis that shapes and enhances the Bank’s understanding of monetary policy implementation and transmission, and market conditions. Transact in the domestic repo and bond markets to manage the Bank’s liquidity and bond portfolio operations.- Assess the Bank's market operations and facilities to ensure they remain fit-for-purpose, particularly as we transition to an ample reserves system.- Collaborate regularly with the senior leadership team and other departments of the Bank.- Conduct and oversee external liaison with market participants including bank liquidity managers, market makers, government bond issuers and other regulatory agencies.- Implement and oversee innovation that enhances the team’s operational processes, liquidity forecasting and coding infrastructure.- Provide inspirational leadership. Motivate and empower your team to achieve high performance outcomes aligned with the Bank’s vision and values. Coach and develop your team to help them meet current and future challenges. Previous people leadership experience is highly desirable.- A strong track record in analysing public policy and financial markets, with an ability to anticipate future research topics of interest to the Bank. Experience in financial markets and with monetary policy implementation is highly desirable.- Strong skills in stakeholder management, including engaging with senior leaders, other government agencies and market participants to improve key policy outcomes.- Ability to effectively prioritise and manage a mix of analytical and operational responsibilities.- Excellent written communication skills, and the ability to coach more junior staff to write research and policy documents to a high standard for internal and external publication.- Be a highly effective and engaging verbal communicator. Succinctly and persuasively present views on analysis and policy.- Capable of building a culture of trust and collaboration. Be an effective and empathetic listener that objectively considers a range of ideas and perspectives and encourages junior staff to do the same.- Take responsibility for leading change and innovation to improve outcomes. Support enterprise change initiatives and support your team through times of change.

Qualifications:
- Relevant tertiary qualifications in economics or finance.- Experience with managing risks related to coding infrastructure (ideally, with some familiarity with R and Git).

Be More

Working for an organisation that truly makes a difference to the people of Australia, we can offer development and career opportunities in a collaborative environment that supports your growth, wellbeing and promotes flexibility. Your individual growth and success drives the RBA forward as an organisation. Be more means you can do more, for yourself and for Australia.

Why RBA?

The RBA makes an important contribution to the Australian economy through the pursuit of national economic policy objectives and associated activities in financial markets and banking. We also issue Australia's banknotes and operate infrastructure critical to the payments system, all of which contribute to the welfare of the Australian people. Made up of specialists across a wide range of fields, our people, values, and culture play a critical role in achieving our objectives. Striving to be Open & Dynamic, we consider and incorporate different perspectives, work across teams and are transparent with each other, whilst delivering quality together effectively and focusing on outcomes by pri



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