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Fiscal Economist (Research and Policy Review) (GMG/SEG 2)
Job SummaryApplications are being invited from suitably qualified candidates to fill the position of Fiscal Economist (Research and Policy Review) in the Economic Management Division of this Ministry.
The incumbent has the responsibility for assisting in conducting fiscal research and reviewing and evaluating fiscal policy aimed at achieving Government's objectives, as well as to contribute toward identifying, quantifying, assessing and managing fiscal risks.
- Contributes toward the undertaking of analytical and research work in the area of fiscal policy and related topics of immediate and long-term relevance to the achievement of the Government’s objectives notably in respect of practicable means to support Jamaica’s fiscal performance:
- Reviews and analyzes reports prepared by internal and external institutions related to fiscal policy issues and submits the resulting analysis to the SFE;
- Prepares draft research papers and related reports on fiscal policy.
- Assists in the preparation of Debt Sustainability Assessments (DSA) and formulation of recommendations regarding optimal levels for debt and financing:
- Undertakes analytical work in the development of debt and financing targets;
- Participates in conducting DSA in collaboration with DMB and other key agencies:
- Compares the DSA results with previous and DSA results from other agencies such as the IMF;
- Contributes in the review and formulation of recommendations regarding appropriate debt targets and the attendant financing plan and primary balance requirements.
- Analyzes and assesses gaps between baseline fiscal projections and target values (as per the legislated Fiscal Rules) or from the DSA results in light of the sensitivity and stress test analyses;
- Drafts alternative options to address these gaps keeping in mind other government policies and undertakings;
- Contributes toward the development and documentation of a recommended set of measures and rationale;
- Participates in evaluating policy impact and recommending necessary revision.
- Canvasses literature on potential areas where the Government may be exposed;
- Assists with the coordination of focused discussions and work on the most significant areas of fiscal risks:
- Identifies the most important risk areas;
- Quantifies the potential fiscal exposure associated with each risk;
- Assesses the probability that each risk will materialize;
- Articulates viable cost-effective risk management strategies;
- Prepares Risks Report to SFE for development of Fiscal Risks Module.
- Internal and external assumptions for the fiscal and macroeconomic frameworks;
- Risk factors to the fiscal, real, external and financial sector forecasts;
- Policies designed to achieve macro-fiscal targets;
- Macro-fiscal data issues and articulation of data improvement work plans;
- Issues related to monetary-fiscal policy coordination.
- Assists in preparing draft reports for presentations to groups within and outside of Government that explain the Government’s economic objectives and policies;
- Contributes to the preparation of draft reports for presentations on fiscal issues to be made by the FS and members of the Ministry’s leadership team to Parliamentary Committees and other consultations and forum;
- Participates in Section efforts to foster productive relationships with the media and advanced learning institutions;
- Participates in Section’s efforts to foster productive relationships with IFIs and other key stakeholders.
- Contributes to the Section’s preparation of analyses and sound recommendations on cost-effective management of fiscal risks:
- Represents the Fiscal Section in the work of the Technical Inter-Agency Macro-Fiscal Working Group (TIAMFWG) and plays a supporting role in its Secretariat, alongside the BOJ and PIOJ. Supports the Secretariat function for the TIAMFWG, including preparation for meetings, agenda items and performance of Secretariat function, when required. Issues will cover:
- Contributes to the Section’s support to the Ministry’s consultations and communication strategy and nurtures productive relationships with various Jamaican institutions, private sector, other interest groups, ratings agencies and international financial institutions:
SPECIFIC KNOWLEDGE & SKILLS:
- Good knowledge of fiscal and economic history of Jamaica and context for current situation;
- Good knowledge of financial administration legislation, including in respect of fiscal rules and targets and commitments;
- Working knowledge of macroeconomics, public sector economics and attendant quantitative tools;
- Working knowledge of the process, methods and tools used in fiscal forecasting, stress testing baseline solutions and impact analyses;
- Working knowledge of the process, methods and tools used in the preparation of Debt Sustainability Assessments;
- Good knowledge of inter-sector macro-linkages and linkages between fiscal and monetary policies;
- Working knowledge of the processes, methods and tools used in measuring, assessing, mitigating and reporting fiscal risks;
- Good knowledge of the processes, methods and tools used in undertaking fiscal research;
- Sound knowledge of Jamaica’s revenue system, expenditure composition and debt dynamics;
- Working knowledge of the International Monetary Fund (IMF) Government Finance Statistics and Data Dissemination Standards;
- Proficient in Microsoft Office Suite (including Word and Excel) and other software required for economic and fiscal analyses and for secure database management and electronic information exchanges;
- Pressured working conditions with numerous critical deadlines
- Masters degree in Economics, Public Finance, or equivalent;
- Two to three years’ experience in economic policy design and implementation and quantitative research/analysis
- Bachelors degree in Economics, Public Finance, or equivalent;
- Five years’ experience in economic policy design and implementation and quantitative research/analysis
- Salary: $1,730,109- $2,056,555per annum
- Travelling Allowance: $707,448per annum
Please note that only short listed applicants will be contacted