Chief Economist
Reporting to the Deputy Head of Division - Financial Stability & Macroprudential Monitoring Group (“DHOD (FSMM)”), the Chief Economist is responsible for leading economic research on financial stability, macroprudential and crisis management frameworks and models. Together with the Chief Statistician (FSMM) and the Business Analysts Group, the Chief Economist steers the integration of the Economist Group’s model building and research with the Division Statisticians’ data management skills and existing FSSD and CIMA statistics assets, to implement efficient IT based solutions to financial stability monitoring.
RESPONSIBILITIES:
The successful candidate will:
- Assist with the development and monitoring of a national Macroprudential framework, including early warning indicators, policy tools, crisis management framework;
- Review and update the methodology for the identification and supervision of systemically important financial institutions;
- Formulate CIMA’s international contribution to and participation in meetings of the FSB’s NMEG Working Group (WG), the FSB-RCGA WG on Non-bank Financial Intermediation (NBFI) and the BIS’ International Banking Statistics (IBS) reporting countries group;
- Conduct a review to identify the risks and appropriate mitigants associated with Non-bank Financial Intermediation (NBFI) in the local financial sector;
- Develop a strategy and supervisory framework for payments and settlement systems;
- Analyse and test the adequacy of financial stability policies, and advise on the suitability of chosen courses of action and allocation of scarce resources;
- Use financial fragility modelling to predict possible insolvency or illiquidity for firms or financial subsectors;
- Ensure the development, implementation and maintenance of effective Macro Prudential guidance and procedure manuals;
- Contribute research for FSMM Group to provide recommendations about legislation, regulations, rules, guidance and supervisory practices applicable to the supervision of the Financial Industry;
- Provide input to Board reports and monthly divisional project and strategic reports; and
- Plan, direct, and delegate all projects and assignments of the Economics Group.
REQUIREMENTS:
- A PhD degree from an accredited institution in Economics or Finance; five years relevant experience in leading an economics research team in private or public sector.
- Experience with a financial sector supervisor/regulator, an international standard setting body such as BIS, IMF, World Bank or ECB SSM and experience working in an offshore financial centre would be an asset.
- A relevant professional qualification such as CPA, CA or CFA would be an asset.
- Expert knowledge of Financial Stability and Macro Prudential Supervision;
- Extensive experience in the development and conduct of stress testing of the financial sector and sub-sectors, modelling, and scenario analysis;
- Extensive experience in assessing supervisory approaches and regulatory framework for compliance with international standards;
- Proven ability to lead and manage multi-disciplined teams, delivering outputs in adherence to established timeframes;
- IT and programming skills and knowledge of programming languages/econometric software (e.g. R, MATLAB, Stata, Python, SQL);
- Excellent writing, communication, and presentation skills; and
- Proficiency in all Microsoft Office applications, such as MS word, Excel, and PowerPoint.
Caymanians, persons possessing Caymanian Status, Permanent Residency, or Residency Employment Rights Certificate need only apply.
Direct applicants only. Applications received from agencies will not be accepted at this time.
Application form may be completed online by visiting cima.ky/careers
Salary: CI $92,446 - $114,843 per annum
Application Deadline: 5 August 2025
(Only shortlisted candidates will be notified)
Application for Employment
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