Economist

JOB PURPOSE

This position conducts economic assessments including reviews of fiscal performance, financial statements analyses, certification of public bodies, assessment contingent liability risks and budget credibility audits, in support of the Auditor General’s responsibilities under the Constitution and Financial Administration and Audit (FAA) Act.

GUIDING PRINCIPLES

• Confidentiality 
• Integrity 
• Fairness 
• Accountability 
• Transparency

CENTRAL LEGISLATIVE FRAMEWORK 

• The Jamaican (Constitution) Order in Council (Act), 1962
• Financial Administration & Audit Act, 2011 Financial Administration & Audit (Fiscal Responsibility Framework) (Amendment) Regulations, 2015
• Public Bodies Management & Accountability Act, 2001 

KEY OUTPUTS AND DELIVERABLES:

OUTPUTS 

• Fiscal Policy
• Reviews Budget Credibility 
• Audits and economic analyses conducted

DELIVERABLES

• Work plans executed 
• Economic and Financial assessments conducted
• Fiscal-policy related assessments conducted 
• Risk analyses conducted 
• Budget credibility audits conducted 
• Working papers prepared 
• Progress reports of assessments communicated
• Fiscal and public debt databases maintained
• PAC Briefs (Prompts) prepared, and meetings attended
• Independence declarations completed. 
• Stakeholders engaged

KEY RESPONSIBILITY AREAS

Management/Administrative Responsibilities 

• Keeps abreast of fiscal policy developments as well as the latest tools and techniques of forecasting to continually improve the quality of economic assessments 
• Contributes to the preparation of Unit’s work plans 
• Represents the Department on committees, and at meetings and conferences, as directed. 4. Maintains fiscal and debt databases 

Technical/Professional Responsibilities 

• Reviews fiscal policy-related reports in accordance with the EAU Manual, FAA (FRF) Act and report in a logical format, keeping with the Department’s quality standards. 
• Assess underlying macroeconomic assumptions underlying the fiscal forecasts to ascertain the impact on fiscal and other indicators of economic performance 
• Using the World bank-IMF Risk Assessment Model (PFRAM), evaluates public private partnerships (PPP) for related debt and risk exposures to determine whether the PPP involves only minimal contingent liability. 
• Conducts budget credibility audits in accordance with the IDI Handbook of Budget Credibility Audits, applicable INTOSAI’s Auditing Standards, EAU Manual, ISO 9001 and AuGD quality standards to determine efficacy of the revenue forecasts and expenditure projections. 
• Analyses the fiscal accounts and macroeconomy, to support the Auditor General’s responsibility under the FAA Act regarding suspension of the Fiscal Rules. 
• Conducts evaluations of the public bodies to enable certification by the Auditor General for public bodies that carry out functions that are of a commercial nature. 
• Conducts analytical reviews of audited financial statements of selected public bodies in the context of the PBMA using ratio analysis, to determine compliance with prudent financial management of public resources. 
• Assess the impact of factors influencing budget deviations to identify potential effects on central government programmes and public bodies funded from the central government budget. 
• Examines the composition of the public debt stock and undertake assessments of debt sustainability. 
• Prepares working papers and draft audit reports for review by Senior Economist.
• Prepares responses to queries of Senior Economist as required.

OTHER RESPONSIBILITIES 

• Serves on internal committees and external working groups as assigned by the Auditor General 
• Conducts special economic assessments as directed. 
• Performs other related duties that may be assigned. 

PERFORMANCE STANDARDS

• Work plans are executed in accordance with established guidelines and time frame.
• Working papers are completed in accordance with established standards and agreed time frame. 
• Economic assessment and audits of budget credibility are conducted in accordance with required standards and timelines. 
• Draft reports, queries and correspondence are prepared in accordance with established guidelines and time frame. 
• Key deliverables are produced within agreed time frames to required standard.
• Follow-up mechanism is implemented in accordance with established guidelines.

REQUIRED COMPETENCIES 

• Planning & Organizing 
• Critical thinking & analysis 
• Decision-making 
• Project Management 
• Quantitative economic methodologies
• Professional judgement and skepticism
• Written & Oral Communication
• Technical & Business Knowledge
• Teamwork & Collaboration 
• Problem solving 
• Results Oriented 
• Stakeholder Engagement

MINIMUM REQUIRED QUALIFICATION AND EXPERIENCE

• Bachelor’s degree in economics or related qualifications from a recognized university with exposure to applied economics, macroeconomic analysis, public policy issues and statistical methods 
• Experience in quantitative economic methodologies 
• Competence in the use of Microsoft 365 (word, excel, power point), statistical analysis tools. 
• Knowledge of TeamMate+, data interrogative and analysis software, would be an asset 
• Understanding of the fiscal accounts and budget formulation would be an asset. Any equivalent combination of qualification and experience

SPECIAL CONDITIONS ASSOCIATED WITH THE JOB

• Typical Office environment 
• Occasional exposure to adverse working conditions 
• Typical working hours 
• Performing duties while under pressure 
• Local travel from time to time 

AUTHORITY

• To communicate with stakeholders in the request for documents, information, clarification on audits and assessments in progress.