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
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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