Senior Economist, Regional Economic Surveillance (RES) | BNM Office Kuching

Job Description

• The Senior Economist will lead the role as a subject matter expert at the regional level
• The Senior Economist in the BNM Regional Office is responsible to provide independent assessment to meet the surveillance and forecasting needs of line departments in both economics and financial sector.
• The Senior Economist is responsible to develop strategies for advocacy and strategic communications in the area of economics and to support Regional Head in driving the Bank’s strategic agenda at the regional level

Responsibilities

PRINCIPAL ACCOUNTABILITIES

• Review and recommend independent assessment on economic surveillance and output from both the Bank’s BNM Offices and Headquarters to ensure that deliverables are in line with the forecasting and surveillance needs of the Economics Department and other Line Departments.
• Continuously lead strategic engagements between the Bank and key industry players as well as relevant Government agencies in the region to obtain timely and in-depth economic and financial insights.
• Undertake in-depth research, leveraging on insights from industrial engagements to help the Bank monitor cyclical and structural developments, identify emerging risks to the economy and design industry policy proposals.
• Lead internal and external stakeholders' collaborations with state agencies, multilateral agencies to identify and review emerging trends in the region to improve regional economic surveillance.
• Support JLPB and Regional Head in driving the Bank’s strategic agenda at the regional level and provide strategic direction at the BNM Regional Office on areas such as performance, training, research and others when needed.

CRITICAL SUCCESS FACTORS

• Strong analytical competence, with the capability to grasp the nuances related to micro-level (e.g. firm-level) information and linking it to overall macro-level surveillance.
• Strong understanding of the interlinkages within the economy and able to think strategically to identify and evaluate the importance of the issues and assess its relevance to the overall macro-level surveillance.
• Versatile with good knowledge of the Bank’s various initiatives and be able to execute them effectively to achieve the desired outcome.
• Possess good public and communication skills and the ability to foster strong working relationships with a wide range of economic agents
• Able to work with minimal supervision and possess strong self-motivation and initiative given the nature of work, which accords a high degree of empowerment in executing the role at the regional level.

KEY CHALLENGES

• The need to be versatile and keep abreast with new developments in the areas related to industry, economic and financial activities.
• Effectively distil relevant and critical surveillance information through engagements with key players in the private sector.
• Identify key issues and emerging trends relevant to the Department’s business plans.
• Strategically link all economic intelligence with macroeconomic assessment on demand, supply and external trade conditions, as well as the financial sector.
• Manage public’s perception of the Bank’s image, policies and initiatives in order to protect the Bank’s interest at all times.
• Able to ‘think on your feet’ in managing unforeseen circumstances and problems.
• Able to guide, motivate and empower team members across the regions and headquarters.
• Have open and robust deliberation and discourse in interpreting information to minimise oversight.
• Ensure optimal continuity of surveillance and timely escalation of emerging issues

Qualifications

Academic Qualifications:

Degree or professional qualifications with an economics, banking or finance background

Experience:

Preferably at least 5 years of working experience in the Economics and Financial Sector

Note: The RES position is an attachment with BNM Regional Offices, with expectation of returning to the line department in HQ thereafter

About the Company

Bank Negara Malaysia (the Central Bank of Malaysia), is a statutory body which started operations on 26 January 1959. Bank Negara Malaysia is governed by the Central Bank of Malaysia Act 2009. The role of Bank Negara Malaysia is to promote monetary and financial stability. This is aimed at providing a conducive environment for the sustainable growth of the Malaysian economy.

Bank Negara Malaysia’s monetary policy stance is to maintain price stability while remaining supportive of growth. Bank Negara Malaysia is also responsible for financial system stability. This is achieved by developing a sound, resilient, progressive and diversified financial sector which serves to support the sectors of the real economy. It also plays an important function in implementing initiatives to deepen and strengthen the financial markets, including the foreign exchange market.

Bank Negara Malaysia has played a significant developmental role in developing the financial system infrastructure in advancing the financial inclusion agenda. This is to ensure all economic sectors and segments of the society have access to financial services. In addition, Bank Negara Malaysia also oversees the nation’s payment systems infrastructure which emphasize on the efficiency and security of the financial systems.

As the banker and adviser to the Government, Bank Negara Malaysia provides advice on macroeconomic policies and the management of public debt. Bank Negara Malaysia is also the sole authority in issuing the national currency and in managing the country's international reserves.