Economist (Monetary Policy Researcher)

Job description / Role

- Initiate, lead and conduct research/analysis on topics or questions in monetary and financial topics.
- Works with NCBs on monetary policy coordination and harmonization.
- Prepares a report proposing how monetary policy should be coordinated and harmonized across the NCBs, including the roles of the NCBs in monetary policy execution and the functioning of a future Gulf Monetary Union monetary policy committee.
- Works on setting a monetary policy framework for the Gulf Monetary Union.
- Leads the consultation process with NCBs to develop a final definition of process, guidelines and rules for when a GCB is established.
- Consolidates monetary policy research, guidelines and framework for presentation to the Board.
- Reviews works done by the fiscal policy and macro-prudential researchers and develops a recommendation for an enhanced set of monetary policy tools to strengthen the future GCB ability to affect price stability.
- Analyses monetary policy data and information and develops proposals regarding the working relationship of the future GCB with national governments and the GCC in establishing inflation targets, interest rate policy and ensuring GCB independence.
- Conducts special studies at the request of the Head of Research, Statistics and Economics.

Requirements

- PhD in economics with at least three years of recent relevant work experience conducting economic research and analysis. Or master's degree in economics with at least five years of recent relevant work experience conducting economic research and analysis.
- Publication of economics related white papers or theses.
- Proficient in econometrics software, MS Office; especially Excel.
- Knowledge in understanding of regional and international economics, macroeconomics, microeconomics, financial markets, banking, statistics, mathematical and quantitative methods.
- Knowledge of the following research methodology: Survey research, structural equation modeling, measurement issues; some experience with longitudinal analysis
- Fluent in both Arabic and English.
- Self-starter, ability to work independently and manage small projects.
- Demonstrated track record of collaboration.
- Highly numerate, with highly developed analytical skills using qualitative and quantitative data.
- Excellent communication skills (verbal and written) to ensure any research material are appropriately addressed.
- Must be able to work in a fast moving, challenging environment, highly motivated and able to prioritize and deliver to deadlines.
- Ability to synthesize data and analyze complex information.
- Problem solving skills.

About the Company

The GCC Supreme Council in its twenty-ninth session (Muscat, December 2008) approved the Monetary Union Agreement and the Statute of the Monetary Council, which developed the legal and institutional framework for the Monetary Union, and identified the goals and tasks of the Monetary Council. The Member States of the Monetary Union Agreement (the Kingdom of Bahrain, Saudi Arabia, Qatar, and Kuwait) ratified the Agreement, and as a result the Monetary Agreement entered into force on 27 February 2010. According to Article 20 of the Statute of the Monetary Council, the statute becomes effective one month after the date of entring into force of the Monetary Union Agreement. Accordingly, the statute of the monetary council entered into force on 27/3/2010. The Board of Directors of the Gulf Monetary Council (GMCO) held its first meeting on 30 March 2010.

The Boards discussions have been mainly focused on the institutional requirements, including strategies and plans to complete the necessary operational requirements of the monetary union. In addition, a statistical Committee was formed to develop statistical systems necessary to achieve the objectives of the Monetary Union.