Economist, Africa Region FIC Research

The organisation is seeking a skilled Economist to join their Africa Region Financial Institutions and Corporates (FIC) Research team, based in Johannesburg. This pivotal role involves deep dives into the economic landscapes of several African nations, with a primary focus on 3 to 5 specific countries. The successful candidate will be instrumental in shaping investment strategies by generating medium and long-term forecasts for key macroeconomic indicators such as economic growth, exchange rates, inflation, and interest rates. The ultimate aim is to translate these forecasts into actionable fixed income and currency trading or hedging strategies.

About the Role

This position demands a proactive approach to data management and analysis. You will be responsible for meticulously collecting, organising, and scrutinising primary macroeconomic data for your assigned countries. This data-driven approach is central to developing accurate economic projections. Beyond data analysis, you will act as a key representative for the organisation, engaging with international financial institutions like the World Bank and other relevant bodies within each country.

A significant aspect of the role involves supporting senior economists in investor meetings, such as those with the International Monetary Fund (IMF) and the African Development Bank (AfDB). This includes providing investors with timely updates on policy shifts and economic developments, showcasing your ability to communicate complex information clearly. Furthermore, you will contribute to influential publications like the Africa Sovereign weekly report, analysing hard currency asset prices to identify potential trade ideas and monitoring credit rating actions to gauge their impact on African Eurobond prices. The role also extends to contributing to the Africa Brief with concise commentary on crucial developments that warrant client attention, ensuring they receive valuable insights promptly.

Your responsibilities will encompass a broad range of analytical and communicative tasks. You will play a part in compiling the African Financial Markets Handbook, collaborating with global market teams in various countries to offer the most current snapshot of foreign exchange, interest rate, and equity markets. A core duty will be to develop and refine a framework, with management support, for monitoring and assessing economic trends that influence exchange rates, growth, and interest rates.

A key leadership element involves working closely with in-country management teams within countries where Standard Bank has a presence. This collaboration aims to develop robust economic forecasts and review recent economic and market developments. You will also be involved in the strategic planning of research roadshows and investor trips, working alongside the Head of Africa Research and Global Markets Sales Managers. These excursions are designed to foster engagement with policymakers, including central bank governors and finance ministers, as well as IMF representatives in each country. A critical output will be the ability to present well-supported arguments for your economic forecasts, covering growth, exchange rates, inflation, and interest rates. Finally, you will be expected to produce "flash notes" and identify trade ideas by leveraging macroeconomic data from your coverage countries, recommending significant adjustments to trading positions where necessary.

What They're Looking For

The ideal candidate will possess a postgraduate degree in a relevant field such as Business Commerce, Finance, or Accounting. A minimum of 8 to 10 years of experience is required, specifically in a senior capacity focused on macroeconomic research and financial market analysis. This experience should ideally include a track record of marketing fixed income and currency investment ideas to institutional clients, or currency hedging strategies to corporate clients.

Essential behavioural competencies include strong factual documentation, excellent interpersonal skills, the ability to interpret complex data, a knack for providing insightful analysis, and composure under pressure. Teamwork is also highly valued. On the technical front, proficiency in areas such as bond pricing, economic analysis, data management (including trading and transacting), hedging strategies, international market knowledge, investment analysis, economic research, and written communication is essential.

In South Africa, an economist role with this level of responsibility and experience typically commands a competitive salary, reflecting the specialised knowledge and analytical skills required. Such positions are often found within large financial institutions, investment banks, asset management firms, and economic consultancies that have a significant presence or interest in African markets. Career progression can lead to senior research positions, portfolio management, or strategic advisory roles within the financial sector.

Type of Qualification: Post Graduate Degree Prefered 
Field of Study: Business Commerce, Finance or Accounting

Experience Required
8-10 years
Experience in a senior role, primarily involving macroeconomic research and financial market analysis, encompassing marketing fixed income and currency investment ideas to institutional or currency hedging ideas to corporate clients.