Job Description

Post Title

Economist Officer (1 Position)

Duty Station

CBS Headquarter

Expected starting date

January 2027

Employment Status

Permanent

Reports to

Head of Economic, Monetary and Financial Analysis Division

Supervises     

None

1-      Role

The Economist is responsible for substantial and meaningful in-depth economic analysis, research, and forecasting. He/she plays a key role in the analysis of monetary, banking, financial and economic data. He/she is expected to contribute to the estimation of inflation and its direct determinants and to prepare studies which inform the choice of the monetary regime. He/she is expected to eventually conduct macroeconomic, monetary and financial analysis, prepare recommendations, and contribute to policy formulation through data-driven insights and research.

The Economist is also required to undertake solid economic and financial analysis to support the general economic policies of the government and the key objectives of CBS in relation to price and financial stability. The Economist will support the Head of the Division to deliver the Division’s mandates and objectives in accordance with the CBS Act of 2012.

2-      General Description  

The Economic, Monetary and Financial Analysis Division is an important part of the Research and Statistics Department. The Division assembles financial and economic data and rigorously applies professional analysis to interpret events, identify trends and forecast probable outcomes. Its primary mandate is to provide timely, rigorous, and policy-relevant economic, monetary, and financial analysis to support the central bank’s objectives of price stability, financial stability, and sustainable economic growth.

This Division acts as the central bank’s analytical think tank - transforming economic and financial data into insights that guide monetary policy formulation, macroeconomic assessment, and financial sector surveillance. The Division is required to disseminate its analytic work on the Somali economy in general and on the different sectors of the economy. The Division is required to recommend specific actions and specific instruments to the senior management and other decision-making bodies at the bank to achieve the stated objectives of the CBS. 

It also conducts special studies in the areas of exchange rates, balance of payments, real economic activity, employment, government finances and prices. It leads CBS’s assessment of the government’s macroeconomic policies as part of its role as economic advisor to the government. It undertakes annual monetary programming exercises as needed and interacts with relevant centers of authority and information, including relevant government bodies and with regional and international organizations to help formulate policy assumptions. 

3-      Main Duties and Responsibilities

·         Conduct macroeconomic analysis covering economic growth, inflation, fiscal developments, external trade, the balance of payments, and financial sector conditions.

·         Contribute to the preparation of quarterly economic reviews, annual reports, policy briefs, analytical reports, technical notes, and briefing materials for relevant policy committees.

·         Support the analysis and formulation of monetary policy under Somalia’s dollarized monetary and exchange-rate framework.

·         Analyse fiscal and monetary interactions, including domestic revenue, government expenditure, financing requirements, public debt, and the implications for macroeconomic stability.

·         Assist in conducting econometric and statistical analysis to identify economic relationships, assess policy impacts, and support evidence-based decision-making.

·         Assist in the preparation of macroeconomic forecasts and alternative scenarios, including assessments of domestic and external shocks affecting growth, inflation, fiscal conditions, trade, and financial stability.

·         Conduct research on structural constraints affecting Somalia’s economic development, including financial access and private-sector development.

·         Assist in the preparation of monthly trade reports covering key export and import commodities and trade partners.

·         Participate in technical working groups, consultations and stakeholder engagements with government agencies, financial institutions, research institutions, and other relevant stakeholders.

·         Perform other economic research and analytical assignments as directed by the supervisor and senior management, consistent with the mandate of the Central Bank.

Experiences and Qualifications

Education:

·         A bachelor’s degree in economics or related field from a recognized institution.

·         Master’s degree will be additional advantage.

Experience:

·         At least 3 years of experience in the fields of Economics/Finance, financial researcher, or equivalent with a reputable organization.

Language:

• Operationally fluent in both Somali and English (both speaking and writing)

2-      Functional and Organizational Skills

·         Strong economic skills in drafting economic reports, briefs and special studies.

·         Possess strong analytical skills (qualitative and quantitative).

·         Critical thinking skills relevant to economic issues.

·         Excellent knowledge of research methods, writing skills, prior exposure to published economic articles, and research papers.

·         Detail-orientation, problem-solving skills, and evidence of task completion.

·         Behaves consistently in accordance with CBS code of conduct/ethics and ensures that the behaviour of others is consistent with these codes.

·         Can establish and maintain positive working relationships with other partners both internally and externally.

·         Possess effective Oral, and interpersonal communication skills.

·         Must be willing to undergo further training so technical aptitude is required.

Computer Skills

• Documented experience with relevant business applications and familiarity with PC software applications.

·         Excellent computer skills, including database management and proficiency in standard econometric tools such as EViews, Stata, RStudio, and Python, with high proficiency in Excel.

Skills Required

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