Central Bank of Ireland
Head of Function - Macroprudential Policy and Head of Function – Research and Analysis (2023-359)
Job Type: Permanent / Remote Work Option: Hybrid
The Central Bank of Ireland serves the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.
We currently have two vacancies in our Macro Financial Division within the Financial Stability Directorate. We are seeking a Head of Function - Macroprudential Policy and a Head of Function – Research and Analysis both on a contract of indefinite duration. The roles are aligned with the Head of Function grade and the HOF salary scale, between €132,811 and €147,396 applies. Please click here for further information on our salary scales.
The Head of Function - Macroprudential Policy role holder will take a particular responsibility for leading the work of the macro-prudential policy and analysis teams in maintaining and developing the Central Bank’s macroprudential policy framework, including the development of relevant analytical tools, systemic risk assessments, policy implementation, and preparation and evaluation of policy options. The role holder will also be responsible for expanding the Central Bank’s internal and external research and analysis output in the area of macro-prudential policy. The role holder will represent the Bank at European and international policy fora where relevant and will have a key role in briefing the Governor and Senior Management on all relevant issues in relation to financial stability and macroprudential policy.
The Head of Function – Research and Analysis will take a particular responsibility for research and modelling work in the division, and will ensure that this work feeds into financial stability assessments and the on-going development of the macroprudential policy framework. The role holder will have a key role in leading the preparation of analytical material that can inform the Governor and Senior Management on all relevant issues in relation to financial stability and macroprudential policy, as well as ensuring the Bank’s research output on financial stability matters is of high international standards.
Both role holders will manage and lead the division in conjunction with the Head of Division, including: the setting of the strategic direction of the division; ensuring progress against the Strategic Plan and the Annual Business Plan; coaching and mentoring of colleagues within the Divisional management team: contributing to the strategic direction and cohesion of the Financial Stability Directorate to ensure a proactive and forward-looking approach to its role in achieving the Bank’s goals.
The Head of Function - Macroprudential Policy responsibilities:
- Lead the macroprudential policy function, with responsibility for strategic direction, recruitment, performance management, work programme planning and evaluation, mentoring and team development.
- Lead the development of macroprudential policy recommendations for the relevant macroprudential policymakers and committees based on a robust systemic risk assessment and supported by research and analysis on the impact of the relevant policies on an ex ante and an ex post basis.
- Lead the preparation of analytical and policy work programmes for the Bank’s Financial Stability Committee. Brief and provide high-level guidance and advice on financial stability and macroprudential issues to the relevant macroprudential policy decision makers to inform decision making and the formation of policy.
- Lead the development of high quality research and analytical work to aid macroprudential policy formation and oversee/contribute to the Bank’s communication on these matters through publications and participation at high-level domestic and international conferences.
- Ensure the effective representation of the Central Bank’s interests at ECB/ESRB/other international fora through providing evidence-based positions on macroprudential policy development and inform senior management views on these matters.
Head of Function – Research and Analysis responsibilities:
- Publish or oversee the publication of high-quality research articles and international financial stability policy contributions, including peer-reviewed journal articles. Ensure dissemination of MFD research output at high-ranking international conferences in order to increase the Central Bank’s profile as a lead researcher on financial stability issues.
- Lead the research and analysis function across the division (a horizontal function) along with, where appropriate, the division’s Research Advisor. This includes: developing the research and analysis agenda for the division; planning and recruiting resources to deliver on this agenda; leading and mentoring a team of highly motivated researchers and analysts across the division; and providing oversight and guidance on research projects to ensure high quality output that aids financial stability and macroprudential policy formation. This would include liaison with others engaged in research activity within the Directorate and, where the subject matter is relevant, outside the Directorate.
- Lead work programme planning and evaluation, performance management and mentoring, and guiding on macro-financial modelling projects, including those used to assess systemic risk and resilience, the impact of current and potential macroprudential policies, and other analysis as appropriate.
- Provide high-level guidance and advice on financial stability issues to the Governor, Deputy Governor, senior management and external stakeholders to inform decision-making and the formation of policy. Position the Bank as a thought-leader in domestic and, where relevant, European/international policy debates on macro-financial topics.
- Represent the Division/Directorate/Bank at high-level domestic and international meetings, including ESCB and ESRB committees and task forces, and other international groups. Influence the development of policy positions on financial stability matters within these groups, and shape the financial stability agenda.
- A PhD/Masters/professional qualification in a relevant field (e.g. business, finance, law) or equivalent professional experience would be an advantage.
- Significant experience in a central bank, international organisation, financial institution or research experience. To include experience of managing a team of professionals.
- The ability to influence policy decisions at senior levels including extrapolating and communicating clear policy actions from analysis and research.
- Identifying/hiring talent, setting and delivering on the Bank’s analytic/research agenda in the area of financial stability.
- Proven ability to manage and lead large teams of highly motivated economists and policy experts.
- Excellent relationship management skills and ability to work with internal and external stakeholders to contribute to the financial stability mandate.
The Head of Function - Macroprudential Policy
- Expert knowledge of current domestic and international financial stability and macroprudential issues Excellent analytical capability with knowledge of latest analytical tools and techniques used in financial stability/macroprudential analysis
- Expert knowledge of macroprudential policy issues including: the relevant macroprudential framework, institutional arrangements at ECB, ESRB and other international fora level, and the interaction with domestic policy development
Head of Function – Research and Analysis
- Excellent analytical capability with experience managing large/complex datasets.
- Expert knowledge of latest analytical tools and techniques used in financial stability analysis, including macro-financial models and stress-testing tools.
- Proven track record of publication in high-ranking domestic and international peer-reviewed journals.
We know it′s our people who make the Central Bank special and we are focused on creating a diverse, inclusive, fulfilling and progressive work environment. We encourage applications from candidates with different backgrounds, experiences and perspectives as it strengthens us, as individuals and as an organisation. We are committed to positively supporting candidates with disabilities. If we can make any reasonable accommodations for you in the recruitment process in order to give you the opportunity to perform to your best, please let us know. Any information that you provide will be used only for the purposes of providing relevant support and will have no bearing on how your application will be viewed.
We have recently implemented a hybrid working model to balance the flexibility working from home provides with the value our office environments bring to support collaboration and connection with colleagues. Our approach to hybrid working enables colleagues to work from home up to 50% of working days, building on an existing broad range of flexible working policies and practices already in place to support our people achieve the right balance.
Our policies also provide insight into our organisational culture, work environment and working arrangements. Here are some of the key policies (subject to ongoing review and amendment) which may be of interest as you consider a career with us.
The Central Bank pension scheme mirrors the rules of the civil service pension scheme. Therefore if you are in receipt of civil/public service pension, abatement may apply to your current pension. Details of the appropriate pension scheme will be provided upon determination of the appointee’s status.
Closing Date: 11 September 2023
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The Central Bank of Ireland is an equal opportunities employer.