Associate Economist/Economist, Modelling, Monetary Policy

Bank Negara Malaysia; Kuala Lumpur; On-site; MYR 60,000 - 80,000; Full time

Job summary

A leading financial institution in Kuala Lumpur seeks an Associate Economist/Economist to develop and maintain quantitative models supporting macroeconomic analysis. The ideal candidate will hold a Bachelor's or Master's degree in Economics, Econometrics, Mathematics, or Data Science, and have 2-3 years of relevant experience. Responsibilities include model development, validation and communication of insights to stakeholders. This role is crucial for enhancing the Bank's economic forecasting capabilities.

Qualifications

• Familiarity with economic theory and econometric techniques is encouraged.
• 2 – 3 years of experience in monetary and economic research required.
• Experience in rigorous quantitative application is advantageous.

Responsibilities

• Develop, review and update macroeconomic forecasting models.
• Ensure proper governance and documentation for model maintenance.
• Conduct validation and back-testing exercises for model reliability.
• Translate model findings to support stakeholder engagement.
• Engage with internal stakeholders to refine model specifications.
• Support administrative and operational responsibilities in the department.

Skills

Model development

Quantitative analysis

Communication of model insights

Education

Bachelor or Master’s degree in Economics, Econometrics, Mathematics or Data Science

PhD in a relevant field

Job description

Associate Economist/Economist, Modelling, Monetary Policy

Undertake the development, enhancement, and maintenance of quantitative models and analytical frameworks to support the Bank’s macroeconomic surveillance, outlook and policy assessments. The role contributes to ensuring robust, well-governed and forward-looking modelling tools that strengthen the Bank’s analysis of growth and price stability in support of its monetary stability objectives.

• Model Development, Enhancement and Maintenance: Develop, review and update macroeconomic, forecasting and simulation models with clearly defined methodologies, assumptions and validation steps to ensure robustness, transparency and alignment with analytical and policy needs. This includes undertaking R&D to incorporate new modelling techniques and improve analytical precision.
• Model Governance and Documentation: Ensure proper governance and documentation for model development and maintenance, including methodologies, calibration histories, validation results and dependencies on other models or frameworks.
• Model Validation and Handover: Conduct validation and back-testing exercises to ensure model reliability and readiness for operational use. Prepare documentation and facilitate proper handover of models to relevant sections to ensure continuity and sustainability.
• Communication of Model Insights: Translate and communicate key model findings to management and relevant stakeholders, including interpretations on macroeconomic concepts such as the output gap, neutral interest rate and potential growth, to support internal deliberations and external engagements.
• Stakeholder Collaboration and Knowledge Sharing: Engage with internal stakeholders to gather analytical requirements, refine model specifications and communicate findings. Share technical knowledge through training, briefings or collaborative projects to build institutional modelling capacity.
• Management: Support administrative, operational, and governance responsibilities, including, but not limited to, the coordination of departmental submissions and documentation, risk and compliance activities, and assisting in operational and governance processes to ensure smooth functioning and business continuity within the department.

Academic Qualifications: A Bachelor or Master’s degree in Economics, Econometrics, Mathematics or Data Science. Some familiarity with economic theory and econometric techniques is encouraged. A PhD is an added advantage.

Experience: 2 – 3 years working experience in the field of monetary and economic research, either within or outside the Bank. Work experience requiring rigorous quantitative application, is an advantage.