Senior Policy Adviser, Monetary Policy Strategy

Description:

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

The Senior Policy Adviser in the Monetary Policy Strategy (MPS) department works closely with the Department Head to oversee and drive the work of the department. The role draws on deep subject matter expertise, the ability to translate in-depth analysis and research into practical policy advice and sound judgement to engage constructively with senior stakeholders and the Monetary Policy Board (MPB).

This is a highly collaborative role in which the ability to create strategic direction and good outcomes in collaboration with others is key. You will play an important role in shaping this new department’s priorities and workplan, its approach to developing monetary policy strategy and alternatives, and successfully delivering on core outcomes.

As a senior member of the department, you will collaborate with senior colleagues to identify and address strategic issues for policymakers, develop analysis and briefing materials for internal discussion and for the Monetary Policy Board, and draw on in-depth analysis and research to enrich briefing materials. Clear communication and the ability to convey what is most important are essential.

You will assist the Head of Department with departmental and enterprise planning and reporting contribute to effective ways of working and reliable end-to-end monetary policy processes. Important responsibilities will be contributing to a team culture that embraces diverse ideas and is dynamic and agile to changing conditions, as well as coaching and mentoring team members.

Key objectives

• With the departmental leadership team, shape departmental strategy, workplan and priorities and contribute to successful delivery of core outcomes.

• Develop monetary policy strategy and policy alternatives in collaboration with others, clearly articulating the costs, benefits, and risks of different approaches.

• Engage constructively with senior stakeholders, peers and others with clear communication, relevant contributions and openness to diverse ideas.

• Identify strategic issues and analytical topics relevant for monetary policy decision-making and prioritise among these in consultation with stakeholders

• Maintain up-to-date knowledge of monetary policy approaches and frameworks and integrate financial stability considerations and other policy levers into strategy considerations.

• Translate in-depth analysis and research into clear, actionable policy advice and draw insights from research, researchers and influential external thinking.

• Build and sustain strong relationships with internal and external stakeholders to promote collaboration, analytical quality and harness diverse perspectives.

• Manage competing priorities effectively in a dynamic environment and lead or support departmental and enterprise planning and reporting activities.

• Develop team members analytical capabilities and skills in preparing monetary policy briefings through regular coaching and feedback.

• Develop an open, dynamic and respectful team culture and ways of working that catalyse collaboration and model behaviours aligned with these values.

Technical capabilities

• Experienced economist with a strategic mindset, excellent analytical skills and the ability to synthesise a wide range of ideas and views into clear, balanced and actionable policy advice.

• Deep expertise in macroeconomics, financial transmission and macro-financial linkages, international economics and other subject areas relevant to monetary policy in Australia.

• Extensive experience with policy analysis and strong conceptual frameworks in monetary policy, fiscal policy, related policy arms and interactions between policy tools.

• Ability to assess the costs, benefits and risks of policy alternatives, draw out the policy implication of current challenges, and communicate these clearly.

• Strong emotional intelligence, stakeholder engagement and collaboration skills and ability to adapt between team leadership and advisor to senior stakeholders.

• Demonstrated success in delivering outcomes with a team, in collaboration with others, and through innovative ways of working.

• Demonstrated ability to manage complexity, prioritise and adapt to changing conditions to deliver core outcomes.

• Proven leadership skills in team, project or department context, in particular ability to lead through change and shape team culture.

• Experience working with, advising and writing for senior decision makers, including Boards or Executive Committees.

• Excellent judgement handling sensitive or restricted information, in accordance with the RBA’s information security policies and code of conduct.

• Tertiary qualifications in economics, finance, public policy or closely related fields, with post-graduate qualifications in these areas 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 and incorporate different perspectives, work across teams and are transparent with each other, whilst delivering quality together effectively and focusing on outcomes by prioritising, testing, learning, and refining as we go.

Our people conduct themselves with a high degree of integrity, while striving for excellence in the work they perform and the outcomes they achieve. We encourage intelligent inquiry and we treat one another with respect while promoting the public interest through our efforts.

We know it is the growth and success of our people that drives the RBA forward. Come and make a bigger contribution while you build and develop your own skills too, because being more means you can do more, for yourself and for Australia.

The Reserve Bank of Australia is committed to equity, diversity and inclusion through key initiatives. We welcome and encourage applicants from diverse backgrounds to apply, including Aboriginal and Torres Strait Islander peoples, culturally and linguistically diverse background, those living with a disability and from the LGBTQ+ community. We are committed to making the recruitment process fair and equitable for all our candidates.

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