Applications for the Reserve Bank’s two new Assistant Governor positions and shiny new Chief of Staff role are now officially open, just don't use AI in your application

The Reserve Bank (RBNZ) has officially started the hunt for two new assistant governors and its first-ever chief of staff.

The two assistant governor roles are being established due to the departure of Assistant Governor Karen Silk, who is leaving the RBNZ in December.

The Reserve Bank is seeking an Assistant Governor Monetary Policy and an Assistant Governor Payments and Cash. Both roles will report to RBNZ Governor Anna Breman and be part of the central bank’s executive leadership team.

“These will be two of the RBNZ’s most senior and visible leadership roles, with responsibility for areas that are fundamental to New Zealand’s economic and financial wellbeing,” Breman says.

Splitting Silk’s role into two will strengthen leadership capacity, clarify accountabilities and support closer coordination across RBNZ's core responsibilities, according to Breman.

The Assistant Governor Monetary Policy will lead the RBNZ’s Monetary Policy Group, bringing together economics (including research) and financial markets. The successful candidate is expected to be recommended by the RBNZ board for appointment to its Monetary Policy Committee (MPC), which oversees the Official Cash Rate (OCR), subject to the statutory appointment process.

“The Assistant Governor will provide strategic leadership across monetary policy analysis, forecasting, research, financial markets and reserve management, ensuring the Governor and Monetary Policy Committee receive high-quality advice and supporting the effective implementation of monetary policy. The role will lead and develop highly capable specialist teams, strengthen research and analytical capability and drive continuous improvement across the Group,” the job ad says.

The assistant governor in the second role will lead the RBNZ’s payments, settlement, financial market infrastructure and cash functions.

“The Assistant Governor will provide strategic leadership and stewardship of New Zealand’s critical infrastructure, ensuring payment, settlement, financial market infrastructure and cash services remain secure, resilient, efficient and trusted. The role will lead a significant payments-modernisation agenda, help shape the future of money, payments and cash in New Zealand, and support innovation while maintaining the accessibility and resilience of cash,” the job ad says.

The RBNZ expects internal, domestic and international interest in both roles and has hired executive search firm Heidrick & Struggles for the recruitment process and appointment of both roles. The pay scale for the assistant governor roles was not disclosed.

Could you be the RBNZ’s new chief of staff?

Recruitment has also begun for the RBNZ’s newly established Chief of Staff role, with this process being managed directly by the RBNZ.

The salary range for this job is $272,731 to $318,186, although the RBNZ says the actual salary will be dependent on the successful applicant’s skills and experience.

The RBNZ is looking for someone with the following skill set:

• Substantial experience operating at executive, board, ministerial or equivalent senior decision-making level.
• Experience advising and supporting chief executives, governors, ministers, boards or other senior leaders.
• A strong understanding of New Zealand's public sector, machinery of government, regulatory environment and stakeholder landscape.
• Established relationships and credibility across relevant New Zealand public sector, business community and political networks.
• A strong record of influencing outcomes across organisational boundaries and senior stakeholders.
• Experience leading complex strategic initiatives, organisational change or cross-functional programmes.
• Exceptional judgement, discretion and political awareness, alongside outstanding written and verbal communication skills.
• Demonstrated knowledge and application of Te Tiriti o Waitangi and Te Ao Māori.

“We are open to different backgrounds; what matters most is your standing, relationships and ability to make things happen in New Zealand’s complex public and political environment,” the job ad says.

“As Chief of Staff, you will be a trusted strategic adviser to the Governor and a key partner to the Executive Leadership Team. The role does not hold a formal operational portfolio. Instead, you will operate through strategic leadership, co-ordination and influence, connecting priorities, people and decisions to support stronger organisational outcomes. Your influence will come from credibility, judgement, relationships and an ability to build alignment and momentum.”

The RBNZ has requested job hopefuls don’t lean on AI to write their application for them.

“Whilst acknowledging the growing use of AI, we kindly ask that the information you provide outlines authentically why you think you’ll be a great fit for this role,” the job ad says.

Applications for the Chief of Staff role close at midnight on Tuesday 20 October. More info here.

RBNZ staff get five weeks paid annual leave and can buy up to an extra three weeks of flexi leave in a calendar year. The cost of each additional week’s leave is 2% of an employee’s total remuneration, according to the RBNZ.

The central bank contributes an employer subsidy to KiwiSaver for eligible employees, matching a 3.5% employee contribution with a 3.5% employer contribution. For a 4%, 6%, 8% or 10% employee contribution, the RBNZ will contribute a 4% employer contribution.

The RBNZ says it also provides employees with 15 days of wellness leave per year, a $600 payment each financial year to spend on wellness, in-house wellness seminars and morning teas, annual health checks, flu vaccinations, first-aid training for first-aid volunteers, confidential counselling for employees and their immediate family members through the Employee Assistance Programme (EAP) and individual workstation assessments.