Job at International Monetary Fund (IMF) for Resident Advisor in CBN


Job at International Monetary Fund (IMF) for Resident Advisor in CBN

The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF), is seeking an experienced advisor in central bank monetary operations for a technical assistance (TA) assignment. The aim of the TA is to work with the Central Bank of Nigeria to implement reform measures aimed at enhancing the effectiveness of its monetary policy implementation.These measures include strengthening institutional arrangements for monetary policy implementation, improving data availability for effective decision making, and strengthening operations in the domestic money and foreign exchange markets to improve the effectiveness of monetary policy implementation. The successful candidate will be responsible for delivery of TA in these areas and, generally, will help build the capacity of the staff to implement monetary policy effectively. This work will be financed from resources provided by the Department for International Development (DfID) of the United Kingdom.  
 
Job Title: Resident Advisor in Monetary Operations, Central Bank of Nigeria (MCMTA)
Job Number:  1300714
 
Qualifications 
The desired candidate should have extensive practical experience in operational work in the conduct of monetary policy, including in areas such as liquidity forecasting and liquidity management. He or she should also have experience with making operational a policy decision to move toward interest rate instruments or an inflation targeting regime. Such experience would have been acquired in a central bank or by the delivery of TA through the IMF or other international institutions.
 
Other qualifications include:
  •  Considerable experience working in a central bank at both a technical and policy level in the areas related to the duties of the position;
  • A postgraduate degree in economics or finance would be desirable, but is not essential;
  • Experience in managing technical assistance projects; and
  • Experience in organizing and conducting training courses, seminars, and workshops.
  • Strong oral and written communications skills in English. 
  • Excellent interpersonal skills, including the ability to deal effectively with senior policymakers and to work as part of a team that would include staff at the International Monetary Fund Headquarters;
This is a two-year long-term expert assignment (contractual) based in Abuja, Nigeria.
 
Tasks
 
The tasks that the resident advisor will be expected to perform include:
  • Liquidity forecasting: strengthening the framework by, in particular, accounting for forecasting errors in terms of the  factors that affect liquidity;
  • Achieving greater consistency in the application of concepts in data compilation and by assisting in the production of  high frequency data,  particularly data  relating to operations in the money and foreign exchange markets;
  • Assisting in the preparation of surveys on expectations and incorporating them into the policy formulation process;
  • Studies of and work to improve the transmission mechanism of monetary policy;
  • Design of measures to improve the functioning of the money and securities markets, and
  • Promote and facilitate the enhancement of coordination on the design of debt instruments, conduct of debt operations.
  • Providing the Governor with advice on any other matters, as required, in areas related to the implementation of monetary policy.
  • Designing appropriate instruments for monetary policy implementation;
  • Building capacity within the CBN in the use of these instruments;
  • Promoting and facilitating effective coordination between the Financial Markets Department and the various operational departments in the implementation of monetary policy;
  • Advising on foreign exchange operations as appropriate,
  • Improving transparency particularly to ensure that the CBN's policy stance is well understood by market participants;

 

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