New Delhi: In order to strengthen its research capabilities, regulator Sebi is looking to hire a chief economist, whose position will be equivalent to that of an executive director in terms of pay and benefits.
In an advertisement, Securities and Exchange Board of India (Sebi) has invited applications for the position.
It would be a first for Sebi to have a chief economist, who would be responsible for overall macro-economic scenario analysis including interplay of various financial sector regulatory activities.
Among others, the officer would be instrumental in strengthening research and database management capabilities and backing regulations and strategy with sound economics.
The position of chief economist would be equivalent to that of an executive director of Sebi in terms of pay, allowances and benefits.
The person would be appointed for a three-year period and will get a pay of Rs 55 lakh per annum.
Spelling out the eligibility criteria, Sebi said that the candidate should have an experience of at least 20 years, including five years in a similar position in a leading organisation in the financial sector.
The person should have a first class post-graduation degree in finance or economics from a reputed university. The regulator said that a PhD degree would be a desirable qualification.
The markets watchdog has asked the interested candidates to send the application by December 2, this year.
Currently, Sebi has a dedicated research team under the department of economic policy and analysis. The team maintains statistics for the entire capital market, publishes Sebi's monthly bulletin, annual report, reports on the economic outlook of the country as well as securities markets.
Earlier in 2011, an advertisement was issued by Sebi, inviting applications for the post of chief economist. However, it received a lacklustre response.
Besides, the selection committee, constituted to scrutinise the applications, could not find a suitable candidate and accordingly the matter was closed.