The Reserve Bank of Australia offers diverse and compelling graduate opportunities across our operations. Graduates at the RBA, no matter which position they occupy or project they are working on, require a combination of technical and analytical, leadership and influencing, and written and oral communication skills.
You will be asked to apply for one particular stream when completing an application – your selection should be based on your career interests and exposure to relevant studies in:
- accounting, audit and assurance;
- economics, finance, mathematics, actuarial studies, statistics, science, engineering and law; or
- information technology.
To better understand the RBA before completing an application, we would encourage you to review the RBA's website content including snapshots, structure, recent presentations, education, publications and media releases, which should provide deeper insights into some of the RBA's recent areas of focus.
If you remain at all unsure which stream is most appropriate for you, please contact us at email@example.com.
Accounting, Audit and Assurance
The complexity and diversity of the RBA's operations means we cover the full spectrum of financial accounting, management accounting, investment accounting, internal audit and assurance.
Responsibilities of accounting graduates at the RBA may include compiling financial reporting, analysing internal and external accounting issues and developing accounting policies, investment accounting of foreign exchange or fixed-income securities, budgeting and strategic planning, superannuation accounting and investment analysis, and financial systems development.
A large number of accounting graduates contribute to Finance Department's preparation of the RBA's financial and management statements. Others develop accounting policies and oversee accounting for the RBA's large portfolio of securities and foreign exchange, or work in our Audit Department assessing internal control frameworks.
In line with our Financial Stability mandate, graduates with accounting/actuarial training bring their particular skills to a multidisciplinary team involved in balance sheet analysis and risk assessment, as well as the development of policy responses to those risks.
Our Banking Department provides specialised commercial banking services to the RBA's customers, the largest of which is the Australian Government and its agencies. Accounting graduates in Banking Department assist with pricing and analysing the costs of banking products and services, forecasting revenue and expenses, and preparing budgets and key management reports.
Economics, Finance, Mathematics, Statistics, Science, Engineering and Law
The RBA offers a wide variety of opportunities for students majoring economics, finance, mathematics, statistics, science, engineering and law (in any combination).
Graduates may be asked to analyse key Australian or overseas trends, prepare briefing notes on statistical releases, research developments in financial markets, or contribute analysis to monetary policy discussions. Others may examine banknote security and distribution, participate in the RBA's community and business liaison programs and evaluate payments systems regulation and financial system stability.
Graduates in our Economic Group contribute to analysis of domestic and overseas economic and financial market trends, as well as forecasting, modelling and research relevant to the framing of monetary policy. Graduates with strong microeconomics and legal backgrounds are sought after by the RBA's Payments Policy Department, a regulator of the stability and efficiency of the Australian payments system that reports to the RBA's Payments System Board. Payments Settlements Department also has a strong interest in students with training in economics and legal studies.
Many finance graduates are initially employed in the RBA's Financial Markets Group, which is analytically and operationally involved with essential financial markets activities. Specifically, these graduates assist in managing the implementation of the RBA's monetary policy setting tool in Market Operations, preparing briefing papers on daily domestic and international market activity, and contributing to the management of a portfolio of fixed-income securities or foreign exchange.
In line with the RBA's Financial Stability mandate, graduates with economics and finance training bring their particular skills to a multidisciplinary team involved in balance sheet analysis and risk assessment, and are focused on considering and developing policy responses to system risks. Financial Stability Department also values students with diverse backgrounds, including accounting and actuarial studies. Graduates with financial markets experience also support the work of Risk and Compliance Department, for example, by valuing the RBA's domestic and foreign asset portfolios and assessing credit quality of the RBA's dealing counterparties.
Note Issue Department produces, and issues Australia's banknotes, and offers opportunities for graduates interested in applying economics, finance, physics, chemistry, materials science, statistics, mathematics or engineering to analytical problems. Day-to-day tasks vary, and may include monitoring security developments in banknote printing and authentication technologies, developing and maintaining specifications and quality standards for production, developing ideas and production techniques for banknote security features, and analysing the effectiveness of innovative new security features.
Note Issue Department is currently focused on a number of strategic projects – visit the Banknote Microsite to learn more about some of its core functions.
Technology underpins the RBA's strategic responsibilities. The RBA's Information Technology (IT) Department is responsible for designing, transforming and developing the core IT functions that support the Reserve Bank's policy, operational and corporate objectives.
Many of the RBA's core system software applications have been developed in-house, including those pivotal to Australia's banking and financial systems. The RBA maintains critical infrastructure and applications that support the its core functions within a highly resilient and secure environment.
Graduates have the opportunity to work on a diverse range of projects with major impacts for all Australians. Some of the key projects recent Graduates have contributed to include the RBA Fast Settlement Service, providing the capability to make and receive payments nationwide in near real time; the RBA Business Intelligence platform, holding key data that informs economic analysis; and high profile information security initiatives, leveraging government threat intelligence and internal technical expertise to protect banking services essential to all Australians.
Graduates with specialist as well as generalist IT skills are well suited to a role in IT at the RBA. The Bank offers IT students outstanding opportunities to work hands-on with leading-edge technologies within industry-aligned frameworks. As part of operating a diverse environment, the IT Department actively seeks to ensure minimal risk in operations while encouraging the effective and innovative use of IT solutions within the organisation.
IT Graduate career paths at the RBA include:
- Software development – .NET, Java and mobile
- Project management and business analysis
- Strategy and enterprise architecture
- IT Security – analytical, testing and consulting
- Strategic planning
- Network engineering
- Change management
- Business intelligence – architecture, development and analysis
- Collaboration platform development – Microsoft SharePoint