Monetary Policy Department

sbp.org.pk; Karachi Division; On-site; PKR 4,000,000 - 6,600,000; Full time

Job summary

State Bank of Pakistan (SBP) invites applications for a senior Director (OG-7) in the Monetary Policy Department, based in Karachi. The role reports to Director/Executive Director and offers a market-based salary and benefits as per SBP rules.

The Director will supervise MPC dossiers, oversee macroeconomic forecasting, advance econometric model development, conduct macro research, refine policy tools, and lead a diverse team while engaging external stakeholders to explain policy choices.

Qualifications

• Masters in Economics from an HEC recognized university or reputable foreign university.
• PhD in Economics will be preferred.

Responsibilities

• Supervise the preparation of dossiers for Monetary Policy Committee meetings, including macroeconomic assessments, economic outlook, scenario analyses, presentations, and the monetary policy statement and report.
• Oversee macroeconomic forecasting and the development of medium-term projections of key macroeconomic indicators, ensuring consistency across different sectors of the economy.
• Conduct regular reviews to drive continuous improvements in econometric and structural forecasting models that support monetary policy decision-making.
• Undertake high-quality research on macroeconomic issues, particularly those related to the monetary policy framework, its implementation, and transmission mechanisms.
• Evaluate and refine SBP’s monetary policy tools and frameworks in response to changing economic conditions.
• Lead, mentor, and manage a diverse team of economists, analysts, and researchers, fostering a culture of innovation, collaboration, and excellence.
• Engage with external stakeholders to effectively communicate monetary policy decisions and their underlying rationale.

Skills

Macroeconomic forecasting

Econometric modeling

Leadership

Policy communication

Education

Masters in Economics

PhD in Economics

Job description

State Bank of Pakistan (SBP) is looking for talented and dynamic professional for its finance function based in Karachi. It's a senior management position reporting to Director/Executive Director with market based salary and benefits.

Director (OG-7) - Monetary Policy Department, SBP, Karachi

Director Monetary Policy Department will:

• Supervise the preparation of dossiers for Monetary Policy Committee meetings, including macroeconomic assessments, economic outlook, scenario analyses, presentations, and the monetary policy statement and report.
• Oversee macroeconomic forecasting and the development of medium-term projections of key macroeconomic indicators, ensuring consistency across different sectors of the economy.
• Conduct regular reviews to drive continuous improvements in econometric and structural forecasting models that support monetary policy decision-making.
• Undertake high-quality research on macroeconomic issues, particularly those related to the monetary policy framework, its implementation, and transmission mechanisms.
• Evaluate and refine SBP’s monetary policy tools and frameworks in response to changing economic conditions.
• Lead, mentor, and manage a diverse team of economists, analysts, and researchers, fostering a culture of innovation, collaboration, and excellence.
• Engage with external stakeholders to effectively communicate monetary policy decisions and their underlying rationale.

Eligibility Criteria:

Masters in Economics from an HEC recognized university or a reputable foreign university. PhD in Economics will be preferred.

Compensation:

Competitive market based compensation package backed by attractive salary and well-rounded benefits structure as per State Bank's rules.

We are an Equal Opportunity Employer. Females, candidates from minorities, transgender persons and persons with disability are encouraged to apply.

Any candidate who misinforms, attempts to influence the recruitment process in any manner, tries to obtain support for his/her candidature by inappropriate means or tampers with evidence of his/her age, educational and other certificates, shall be disqualified from the current and any future recruitment process at the Bank; even if the candidate is otherwise eligible. Candidate who fails to provide the required information or documents or does not meet the specified criteria as per advertisement shall be disqualified from the current drive.