Graduate recruitment

Graduate recruitment

Applications for 2019 graduate positions are open from 14 January 2019 and application details will be available at that time.

Working at the Reserve Bank – what to expect

We’re not your typical bank.

The Reserve Bank is New Zealand’s central bank and we offer graduates the opportunity to influence policymaking at the highest level.Our graduates join our Economics, Financial Markets, Prudential Supervision and Macro Financial departments.  When you join us, you’ll be able to explore your interests and rotate within teams and departments so that you get the broadest experience possible. We value our people and make sure they are recognised for their efforts. We really develop our employees through on the job experiences, mentoring, workshops and training programmes. Graduates have access to local, national and international development courses run by the Bank of England, Swiss National Bank, Outward Bound and Federal Reserve Bank of New York, to name just a few. Many of our employees have taken part in secondments worldwide and some are involved in further study for a Masters or a PhD while working full-time with us, and in some cases we fund the study.

Read an example of a job description (PDF 28KB)

Who are we looking for?

You’ll be a Masters or Honours level student, and you’ll ideally be majoring in economics, finance, banking, law and/or mathematics. Subjects that are useful to take include macroeconomics, monetary economics, finance, applied econometrics,law and/or mathematics subjects like QUAN (mathematics for economics and finance). 

You will be curious, analytical, a critical thinker and a team player. Strong written and verbal communication skills mean you know how to present your work clearly and concisely. Our graduates are diverse in their backgrounds and interests. This makes for a dynamic team that has plenty of fun.

We welcome applications from international students, provided you are legally entitled to work in New Zealand. 

University visits and the selection process

We’re not your typical central bank; therefore we don’t take a typical approach to recruitment. Instead of the usual campus presentations, we visit universities in March to have an informal chat over coffee.  Don’t be afraid to pick our brains about what it’s like to work at the Reserve Bank or ask any other questions you have.

Following the application closing date, we interview the shortlisted applicants on campus. These interviews usually take place in late March.

The best performing candidates are then invited to the Bank in Wellington for a second interview in April.

Campus visits timetable

Our campus recruitment team consists of recent graduates. They visit Auckland University, Waikato University, Victoria University, Canterbury University and Otago University in early March each year. Massey Albany students are invited to attend the campus visit at Auckland University and Lincoln students are invited to attend the campus visit at Canterbury University.


Applications for the 2019 Graduate Recruitment Round are open from 14 January 2019 and application details will be available at that time.

Graduate positions are open to Honours or Masters students who will be available to start in a graduate role in 2020.

Information about our policy departments

Economics Department

With about 30 staff, our core function is to formulate monetary policy by achieving and maintaining stability in the general level of prices, so inflation is kept between one and three percent per annum.

Our numerous responsibilities include providing analysis, research and advice on the Official Cash Rate, as well as advice on implementing the Policy Targets Agreement, and research on New Zealand’s monetary policy framework. We also prepare the Bank’s quarterly Monetary Policy Statements and ensure that best practice modelling methods and a wide range of data are used in generating forecasts and monetary policy advice.

Financial Markets Department

Our team enables the Bank to make and put in place policy decisions that help us achieve our vision of promoting a sound and dynamic monetary and financial system. The Department is arranged into four teams.

The Domestic Markets team and the Foreign Reserves team both transact directly with the market. Domestic Markets maintains and controls the liquidity of the New Zealand banking system and puts monetary policy into place. Foreign Reserves manages the Bank’s foreign reserves monitors the markets and undertakes foreign exchange market intervention.

The International and Markets Analysis team collect, decipher and relay market information from New Zealand and international markets to relevant people, including the Monetary Policy Committee.

The Risk Unit provides the Department and Governors with quantitative advice on the risks that come about from the core activities of the Financial Markets Department.

Prudential Supervision Department

Think of us as financial doctors who monitor the “health” of financial institutions (banks, non-bank deposit takers and insurance companies) in New Zealand, as well as the country’s financial system. We take on graduates of economics, finance and law. We provide advice to the Governor of the Reserve Bank, and the government, on matters to do with the operation of the financial system. This includes:

  • advising on laws and regulations for financial institutions,
  • monitoring the compliance of financial institutions with these laws and regulations, and
  • engaging with financial institutions to facilitate our advice and monitoring role.

We’re also concerned with the payment system, including well-known parts like EFTPOS, credit cards, cheques and direct debits, as well as the systems that transfer large sums of money between financial institutions and across borders.

Macro Financial Department

With about 25 staff, the Macro Financial Department is responsible for assessing the soundness and efficiency of New Zealand’s financial system and the implementation of macro-prudential policy.

The Department is arranged into three teams.  The Financial Systems Analysis Team produces the Financial Stability Report twice a year, which assesses the overall health of the financial system, and undertakes research on matters relating to the financial system.  The Policy Team is responsible for advising on the use of macro-prudential instruments and their deployment, while the Statistics Unit produces high quality financial statistics to assist the Bank and the public in understanding developments in the financial system.

For further information please contact
Human Resources Adviser
Reserve Bank of New Zealand