Graduate Profiles

Kelly Eckhold

Background

I studied finance and economics at Otago University and obtained an honours degree majoring in finance. My main job experience before coming to the Bank was as a meat packer at a freezing works in my home town of Oamaru.

I have an ongoing interest in travel and hope to gain further experience abroad at some stage in the future. The Bank can certainly open up some doors in that regard.

Personal interests, goals

I have always been attracted to the financial markets. I like the dynamic fast-paced nature of the environment and the constant need to test your priors and beliefs against the reality of traded market prices. Inevitably you get the best understanding of markets by having at least a broad grasp of micro and macroeconomics - hence in many senses the sorts of opportunities I have had at the Bank have been very closely aligned to my interests. My goals are largely short term and revolve around doing things I find interesting. I have an ongoing interest in travel and hope to gain further experience abroad at some stage in the future. The Bank can certainly open up some doors in that regard.

What attracted you to the Bank?

The Bank is a great institution to start off at. The training opportunities are extensive and its reputation is very good. All of these things, plus the opportunities to work in both policy and the markets, and to work in equally prestigious organisations offshore were big drawcards for me.

Experience/achievements at the Bank and elsewhere

I have written several discussion papers on topics as diverse as the risks the markets have priced in NZ banks, the behaviour of money and credit aggregates, the determinants of NZ long term interest rates. I have had work published in the Bank's Bulletin on the Eurokiwi bond market. I have served as secretary and then as a member of the internal Bank committees which sets the level of the Official Cash Rate. I have helped shaped the Bank's liquidity management policy by doing the work behind introducing FX swaps as a liquidity management tool. I have worked for a couple of years at the Bank of England with their foreign exchange trading and reserves management teams, during which time I gained experience in trading currencies in the largest most liquid financial centre in the world. Right now I head up our Foreign Reserves area where a small team of traders looks after the 4.5 billion New Zealand dollars of intervention reserves.

What have you enjoyed/found satisfying or challenging?

My time in London was a highlight - both professionally and personally. There have been many challenges but the ongoing opportunity to shape policy still remains one of the most attractive features of working at the Bank.  In the last couple of years I have been back I have greatly enjoyed the opportunity to help shape the direction of domestic monetary policy at a high level.  In addition I am finding the task of working in the international markets fascinating.

Future aspirations

As noted above, I will work offshore again, perhaps in a financial markets area of a large central bank or supra government organisation such as the World Bank or the IMF. In the meantime though there are a number of challenges in the Foreign Reserves area I am enjoying getting to grips with.

There have been many challenges but the ongoing opportunity to shape policy still remains one of the most attractive features of working at the Bank.