Macroprudential Supervision Advisor for the Autoriti Monetari Brunei Darussalam (AMBD)

FOR MORE INFORMATION CONTACT:  J Hambric  941 387 5623

 

  1. A.                 General Requirements

The selected candidate would advise (not perform the functions of) the Macroprudential Policy and Financial Surveillance (MPFS) Office in AMBD. Main responsibilities are to assist; recommend; outline options, attributes and drawbacks of options; review drafts; suggest logical steps for fulfilling a function; and so forth.

The advisor should have at least three years of practical experience as a macroprudential supervision official at a central bank or monetary authority, or at least five years of experience as a macroprudential supervision advisor to a central bank or monetary authority, with a demonstrated record of achievement. In addition, the advisor should have extensive experience in microprudential supervision and possess a master’s degree (or higher) in economics, finance, or statistics.

First Option of Tenure: The advisor is expected to be in Brunei three week every quarter at least until June 2019, when MPFS is expected to be fully staffed. In the interim periods when the advisor is not present, remote communication between MPFS Office staff and the advisor can take place.

Second Option of Tenure: The candidate could also opt to perform all the tasks outlined below in a period of 6 months (ideally from July to December 2018), during which (s)he will be based in Brunei.

 

  1. B.                  Work plan assuming 3-week on-site missions for 4 quarters:

First quarter. The advisor will assist the MPFS Office in carrying out the following tasks:

  • Written guidelines to operationalize the MPFS Office. The Office will prepare a document outlining the mission statement, objectives, and strategies of the Office, together with an operational plan that extends until the end of June 2019 (or other date selected by the Office). The operational plan portion of the document will describe the functions of the Office, the inputs (sources of data and other information for the Office to do its work), and the outputs (deliverables to other organizational units of the AMBD or other stakeholders).
  • Identification of risks to financial stability and preparation of a heatmap of risks. The Office already has a matrix “heatmap” of potential risks, with judgments on the likelihood and impact of the risks materializing. The Office desires to maintain and refine this matrix into a full-fledged financial systems vulnerability monitor.

Second quarter. The advisor will assist the MPFS Office in carrying out the following tasks:

  • Financial stability report. The Office will develop an outline and begin gathering information for the AMBD’s first annual Financial Stability Report (FSR), which will be issued sometime in May or June 2019.
  • Identification of D-SIBs and supervisory regime for D-SIBs. The Office will develop an identification methodology and supervisory regime for D-SIBs, for presentation to the Financial and Monetary Stability Committee (FMSC) and ultimate approval by the AMBD Board.

Third quarter. The advisor will assist the MPFS Office in carrying out the following tasks:

  • Macro stress testing. The Office will develop a basic macro stress testing framework that will estimate the impact on systemwide capital and liquidity of various plausible macroeconomic scenarios.
  • Regular surveillance report. The Office will develop a brief quarterly update to the FMSC and to other relevant organizational units of the AMBD on emerging financial risks, if any, in Brunei Darussalam. The report will contain a brief description of emerging financial risks in other countries and explain the extent to which these developments are relevant to financial stability in Brunei Darussalam.

Fourth quarter. The advisor will assist the MPFS Office in carrying out the following tasks:

  • Early warning system (EWS). The Office will begin the development of an intuitive, signals-based EWS to assess the likelihood of a future banking crisis or more generalized financial crisis.
  • Forecast of financial soundness indicators (FSI). The Office will begin the development of a methodology to forecast key FSI.

 

  1. C.                  Deliverables expected of the Macroprudential Supervision Advisor

First option of Tenure (3-week on-site missions for 4 quarters):

In addition to assisting the Office with the quarterly tasks outlined above, answering queries, and providing other general advisory assistance when asked, the advisor will deliver the following to the AMBD:

  • Each quarter, an intensive workshop of at least three days, on a topic to be agreed upon with the Office, to which other relevant organizational units of AMBD will be invited, at the discretion of the Office.
  • An engagement report within 10 days of the close of each quarterly visit, summarizing activities and accomplishments.
  • A final report at the end of the one-year appointment, with recommendations for next steps in the development of macroprudential supervision at the AMBD.

Second option of Tenure (6 months on-site being expert resident in Brunei)

In addition to assisting the Office with the quarterly tasks outlined above, answering queries, and providing other general advisory assistance when asked, the advisor will deliver the following to the AMBD:

  • Each month, an intensive workshop of at least two days, on a topic to be agreed upon with the Office, to which other relevant organizational units of AMBD will be invited, at the discretion of the Office.
  • An engagement report within 10 days after the first three months, summarizing activities and accomplishments.
  • A final report at the end of the 6 months appointment, with recommendations for next steps in the development of macroprudential supervision at AMBD.
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FOR MORE INFORMATION CONTACT:  J Hambric  941 387 5623