CWS Identified Internships

Organization Description:

The Hong Kong Monetary Authority (HKMA) was established on 1 April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. Its main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Ordinance and it reports to the Financial Secretary.

The HKMA is the government authority in Hong Kong responsible for maintaining monetary and banking stability. Its main functions are:

• keeping the Hong Kong dollar stable
• managing the Exchange Fund – Hong Kong’s official reserves – in a sound and effective way
• promoting the safety of Hong Kong’s banking system
• developing Hong Kong’s financial infrastructure to enable money to flow smoothly, freely and without obstruction

The HKMA’s policy objectives are:

• to maintain currency stability, within the framework of the linked exchange rate system, through sound management of the Exchange Fund, monetary policy operations and other means deemed necessary;
• to promote the safety and stability of the banking system through the regulation of banking business and the business of taking deposits, and the supervision of authorised institutions; and
• to enhance the efficiency, integrity and development of the financial system, particularly payment and settlement arrangements.

Internship Description:
The intern will work in the market surveillance team in the Market Research Division.

The job has two main components. The first component is to assist in constructing and refining a database for monitoring monetary and financial stability in Asia Pacific.This involves finding the raw data, computing the indicators, and organising them for the use of the regional Monetary and Financial Stability Committee of the EMEAP, an organisation composed of eleven central banks in Asia Pacific.  The second component involves providing research assistance to the economists in research projects on financial market surveillance.

Ideal Internship Qualification: