Principal Analyst, Monetary Policy Strategy

About the Monetary Policy Strategy Department

Monetary Policy Strategy (MPS) is a new department that will strengthen the Bank’s capabilities in monetary policy strategy and support the Monetary Policy Board’s decision making. It will provide briefings on monetary policy alternatives and strategy, lead internal discussions to develop monetary policy advice, and coordinate the underpinning processes.

It is a highly collaborative team that works with all policy areas, leveraging and empowering staff to contribute to the development of monetary policy strategy. It will harness ideas and perspectives from inside and outside of the Bank and deliver policy advice underpinned by in-depth analysis and research. The team will catalyse and drive strategic policy questions in close collaboration with the Bank’s leadership.

The role

As Principal Analyst in MPS, you will tackle important questions on monetary policy strategy, policy alternatives, and policy interactions to inform and strengthen monetary policy deliberations. You will contribute hands-on to developing the Monetary Policy board paper, evaluate the costs, benefits, risks of policy alternatives and conduct in-depth analysis that deepens our understanding of monetary policy strategy.

You are highly collaborative, able to leverage your expertise to deliver on the department’s program of work and empower others to contribute with their skills. You will have the opportunity to lead collaborative pieces of work, extend your technical capabilities and hone your skills in writing for and communicating with senior stakeholders and decision makers.

You contribute to the team’s culture of openness and intellectual curiosity, proactively engaging with a broad range of staff to capture diverse viewpoints, drawing on research and harnessing influential external ideas. You will also coach and develop junior staff to build their analytical capabilities and broader understanding of monetary policy.

Key objectives- Deliver high-quality analysis and advice on monetary policy strategy and frameworks, that contribute to the department’s goals and the Bank’s strategic objectives.- Play a leading role in the development of the Monetary Policy Board paper, including identifying and framing policy alternatives, and articulating their costs, benefits, and risks in the context of broader strategy.- Lead workstreams to produce timely, relevant and rigorous research, analysis and briefings on topics related to monetary policy strategy.- Stay informed of key developments, approaches and influential ideas relevant to monetary policy strategy and frameworks, draw on research and engage with researchers.- Work collaboratively with leaders, teams, and stakeholders across the Bank to ensure a coordinated and enterprise-aligned approach to monetary policy advice.-
- Build and maintain productive relationships with internal and external stakeholders to strengthen the relevance and impact of analysis.- Coach and support junior staff to build their technical capability, economic judgment, and policy communication skills.

Technical capabilities- Strong technical and analytical skills in macroeconomics, modelling, financial transmission and linkages or other related areas relevant for monetary policy.- Demonstrated ability to conduct in-depth analysis on topics relevant to monetary policy, draw on insights from research.- Ability to synthesise a range of complex information and distil insights and implications and communicate these clearly.- Effective stakeholder management and demonstrated ability to collaborate across departments and across levels of seniority to achieve good outcomes.- Strong organisational and prioritisation skills; able to balance multiple streams of work and shift focus as needed.- Sound judgement handling sensitive or restricted information, in accordance with the RBA’s information security policies and code of conduct.- Relevant tertiary qualifications in economics, finance, or a closely related field. Post-graduate qualifications in these areas are sought after.

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 a