Gulf Monetary Council

Position Title/Short Description

Full Text of JOE Listing:

Overview Of The Job:
The jobholder will be responsible for defining the process for developing monetary policy in the Gulf Monetary Union for when the GCB is established, including roles and responsibilities of the NCBs and GCB, guidelines, rules and any legal requirements. At a later stage, this person also will be recommending enhancements to the tools for implementing monetary policy and the eventual relationship GMCo should have with government in setting monetary policy objectives.

Key Responsibilities:
•Works with NCBs to understand the monetary policy setting process in each member state including the relationships with the national government
•Documents approaches to set monetary policy in Gulf Monetary Unions by developing relationships with relevant central banks, like the ECB
•Prepares a report proposing how monetary policy should be coordinated and harmonised across the NCB’s, including the roles of the NCB’s in monetary policy execution and the functioning of a future Gulf Monetary Union monetary policy committee
•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
•Works with 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

Required Experience & Qualifications:
•Phd or Master’s degree in economics, finance or related field.
•Minimum of 5-8 years of experience within Financial Services Institution, Central Banks or similar organisations.
•Publication of economics related white papers or theses.
•Proficient in 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.