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The Graduate Training & Development Program
As a Reserve Bank graduate you will contribute to our daily operations from day one. You will achieve this with support from your immediate work group who will make it their business to take an interest in your development and in coaching you to reach your potential.
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During our two year Graduate Development Program you will participate in a range of training and development activities. Previous new graduates have helped us to design the program to ensure continual professional development during the first years with the Bank.
The program includes:
- Graduate Orientation Week – includes on-line orientation, presentations from senior management, personal development workshops and a number of social activities.
- Computer systems assessment and training – includes specialist IT applications.
- Business/Technical Writing Skills – builds skills in writing persuasive and clear written cases and explanations.
- Presentation Skills – strengthens effectiveness in presenting to individuals and groups.
- Influencing Skills – develops supervisory skills in the areas of interpersonal communications, conflict resolution, project management, delegation and teambuilding.
- New Managers Program – an interactive and experientially-based program designed to provide you with a deeper insight into your own personal management style and encourage the development of skills to enhance your capacity as a manager and as a leader.
Further development opportunities could include movement through other positions as well as attending conferences and presentations.
This initial program is a strong foundation for a longer-term personalised development program aimed at providing you with the knowledge and skills to enhance your professional career.
The Bank also provides encouragement and support to graduates wishing to obtain further qualifications. Assistance is provided for part-time post-graduate degree and diploma courses relevant to your work speciality. Assistance includes reimbursement of university fees, an incidentals allowance as well as study and exam leave.
The Bank's Post-Graduate Study Award Scheme also assists a small number of exceptional graduates after around two and a half years' sound job performance to undertake postgraduate studies on a full-time basis. Awards are for study in prominent universities in Australia or overseas and provide financial assistance while studying.
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My career at the Bank began nearly as a cadet in Economic Research Department; since then, I've had the opportunity to work in a number of different areas, and am currently a senior economist in System Stability Department.
When I finished university and began work as a research graduate at the Bank, I was placed in Economic Analysis Department and given responsibility for analysing a sub-sector of the Australian economy. I found this type of work very useful in helping me develop a good framework for analysing policy issues. After four years of working in a number of jobs throughout the Department, I was promoted to a managerial position, and I eventually assumed responsibility for the direction of the work and staff in my section. More recently, I have moved to System Stability Department, which has given me exposure to a whole new range of policy issues.
I have also had the opportunity to represent the Bank, and to further my own understanding of policy and economics. As part of a secondment program, I spent a year and a half working at the Bank of England in their monetary policy area. This provided me with a great opportunity to learn about the policy-making process of another central bank. The Bank also sponsored my participation at an economics course held in Switzerland. I've also represented the Bank at meetings and conferences held both domestically and internationally.
The Bank is also a workplace where you are given the flexibility to find the right balance between work and personal commitments. For me, this has meant I had the opportunity to take a year of maternity leave after the birth of my first child, and the option to return to work on a part-time basis.
Melissa - B.Ec (Hons), University of New England
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I joined the RBA as a graduate in 1999 and have found working at the Bank intellectually stimulating and very rewarding. I particularly enjoy having the opportunity to participate in economic policy-making and thereby contributing to the continued economic prosperity of Australia. By working at the Bank, I have had the pleasure of interacting with bright, highly-motivated economists who are cooperative and willing to discuss and debate ideas; access to excellent resources such as the research library; and the opportunity to make contact with academic and professional economists from around the globe.
I spent my first two years at the RBA in the Economic Research Department. During my time there, I had to employ both theory and practical skills. I co-authored three research papers, one of which described a small econometric model of the Australian economy. Working on this model enabled me to utilise and build upon my econometrics and mathematics training from university. I have also had the opportunity to spend time on more theoretical issues, such as the effects of uncertainty on economic policy decision-making. I have also been the national accounts and fiscal policy analyst since shifting to Economic Analysis Department, a role that demanded a more intensive use of my practical skills and taught me how to interpret data within the broader policy context.
The RBA is also willing to invest in staff development. One of the opportunities it offers to its staff is to pursue further studies in Australia and overseas. I have been fortunate to receive financial support from the Bank to undertake a PhD in the US and my work at the Bank has been a good platform for my studies and has been a great source of research ideas.
Adam - B.Com (Hons)/B.Sc (Hons), University of Melbourne
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