Wanted: New Chair of BIS's Financial Stability Institute

The Bank for International Settlements (BIS), also known as central banks' central bank, has opened the search for a new Chair of its Financial Stability Institute (FSI) to replace former Czech Republic's central bank governor and one-time prime minister of the country.

Up for grabs is a fixed, five-year term. A successful candidate needs to have at least 15 years’ experience in a senior executive position gained within a central bank, financial sector supervisory authority or international financial institution.

Purpose of the job:

  • To develop and define the overall strategy of the FSI, including optimising its assistance to authorities responsible for financial stability globally.
  • To assume overall responsibility for the FSI and to ensure the consistency, overall integrity and excellence of FSI services.
  • As a senior official of the Bank, contribute to the general management of the Bank.

The announcement suggests that current FSI Chair Josef Tosovsky, former Czech governor and a caretaker prime minister of the country in late 1990s, is retiring from the BIS's institute which he has chaired since December 2000.

Odd to see the BIS open the search for Tosovsky's replacement just as his name popped up in the news for his apparent reckless driving on a 2007 Ferrari.