The Reserve Bank of Australia's core values – promotion of the public interest, integrity, excellence, intelligent inquiry and respect – guide everything we do. Our people have a genuine interest in promoting the wellbeing of all Australians and are committed to diversity and inclusion. We aim to ensure that all employees are treated with dignity and respect, and that they experience equal opportunity throughout their careers.
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If you’re interested in working at Reserve Bank of Australia, understanding when they have opened up applications for their graduate programs, graduate jobs and internships is helpful knowledge to have so you know when you might need to apply. Use the below information to see when Reserve Bank of Australia hires graduates, but more importantly what graduate degree’s and other student attributes they target for their jobs.
Starting your career at Australia’s central bank will give you the opportunity to make a difference to the lives of all Australians. All of our employees, including graduates, share the common goal of working together to promote the economic prosperity and welfare of the people of Australia.
Our two-year Graduate Development Program offers comprehensive training, coaching and development in a supportive environment. It allows you to undertake meaningful work from day one and to apply the knowledge acquired at university in challenging real-world situations.
To us, our core values – promotion of the public interest, integrity, excellence, intelligent inquiry and respect – guide everything we do. Our people have a genuine interest in promoting the wellbeing of all Australians and are committed to diversity and inclusion. We aim to ensure that all employees are treated with dignity and respect, and that they experience equal opportunity throughout their careers.
Our industry-recognised program will launch your career and is a great opportunity for emerging economists and financial analysts who are interested in making a difference to the lives of all Australians. Our graduates are provided with meaningful work from day one and may be asked to analyse key trends, prepare briefing notes, research developments in financial markets, or conduct analysis for the monthly monetary policy meeting.
Graduates may complete rotations in the following areas: Economic Group, Financial Markets Group, Payments Policy, Financial Stability, Risk and Compliance, Note Issue.
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 Payments Policy, which supports the Payments System Board in its oversight of payments systems in Australia.
Economic & finance graduates placed in Financial Stability will conduct balance sheet analysis and risk assessment, and focus on considering and developing policy responses to financial system risks. Financial Stability also values students with diverse backgrounds, including accounting and actuarial studies. Graduates with financial markets experience also support the work of Risk and Compliance by valuing our domestic and foreign asset portfolios and assessing the credit quality of our dealing counterparties.
Many finance graduates are initially employed in Financial Markets Group, which is analytically and operationally involved with financial markets activities. These graduates assist in managing the implementation of our 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.
Note Issue produces and issues Australia's banknotes, and graduates with a background in economics, finance, physics, chemistry, materials science, statistics, mathematics or engineering will work on 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.
We are looking for graduates who are passionate about public policy work and have a desire to learn and succeed.
- Hold or completing a degree in economics, econometrics, finance, data science, legal, actuarial or similar
- Completed honours or a significant research program
- Australian permanent residency or citizenship is required to apply
Our IT team is responsible for designing, transforming and developing the core IT functions that support our policy, operational and corporate objectives.
Many of our core system software applications have been developed in-house, including those pivotal to Australia's banking and financial systems. Our critical infrastructure and applications are maintained by our employees and graduates have the opportunity to work on a diverse range of projects that impact the lives of all Australians.
Graduates with technical and non-technical skills are well suited to IT roles at the RBA. We offer outstanding opportunities to work hands-on with leading-edge technologies within industry-aligned frameworks. We are looking for graduates who are passionate about technology and want to be part of a team that embraces innovation, working closely with the banking industry, Commonwealth government and foreign central banks.
Graduates in our program may complete rotations in the following areas:
- Software development (.NET, Java and mobile)
- Project management, business analysis and change management
- Strategy and enterprise architecture
- IT Security (analytical, testing and consulting)
- Strategic planning
- Infrastructure engineering and development
- Business intelligence (architecture, development and analysis)
- Data Science
- Collaboration platform development (Microsoft SharePoint)
- Innovation Lab
We are looking for graduates who are passionate about information technology and have a desire to learn and succeed.
- Hold or completing a degree with strong academic achievement in information technology, computer science, data science, mathematics or a closely related discipline.
- Australian permanent residency or citizenship is required.
Accounting and Audit
The complexity and diversity of our operations means we cover the full spectrum of financial accounting, management accounting, investment accounting, internal audit and assurance.
Responsibilities of accounting graduates 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.
Accounting graduates contribute to Finance Department's preparation of our financial and management statements. Others develop accounting policies and oversee accounting for our large portfolio of securities and foreign exchange, or work in our Audit Department assessing internal control frameworks.
Graduates have a unique opportunity to work in our Payments Settlements Department, which is responsible for operating critical infrastructure that supports the Australian payments system, including the Fast Settlement Service, which provides real-time settlement for payments made using the New Payments Platform.
As part of Payments Settlements Department, a graduate will be at the centre of helping to formulate business policy for our critical payment systems. The position therefore offers a unique and interesting insight into the operational work of a central bank and provides the opportunity to work in an area that is contributing every single day to the public interest, since reliable, safe and efficient settlement infrastructure is essential for a modern economy.
Our Summer Intern Program is an excellent opportunity for high-achieving students to get first-hand experience of what it is like to work in Australia's central bank. The Program has been designed to provide work experience and financial support during the final year of study to students who have the potential to be successful graduates at the RBA.
We look for a high level of analytical skills and a genuine interest in working for an institution that makes a difference to the lives of all Australians. Applications are accepted from 3rd year (or equivalent) students majoring in economics, finance, or related areas such as mathematics and statistics who intend to complete honours or similar research based programs.
Initially, we offer successful candidates a paid eight week work placement over the summer. As an intern you will be supported as you undertake project work that culminates in a research paper that is presented to your peers and senior staff.
During your placement, you may also complete notes on data releases, analysis of developments in financial markets, or other work that provides an insight into working at the RBA as a graduate. In addition, you will attend targeted training as well as interactive information sessions designed to provide you with a more comprehensive understanding of the role of Australia's central bank.
At the end of the eight week placement, interns may be offered a place on the Graduate Development Program, which commences the following year. Interns who accept an offer as a graduate will be provided with financial support during their final year of study.
Graduate Program Key Dates:
Summer Intern Program:
To make an application, please visit our website www.rba.gov.au/grads
Please note that we review applications we receive them and may invite suitably strong candidates to undertake assessments immediately.
‘Supporting you to be well, stay well, and work well’
We recognise the importance of having a healthy workforce, in order to both improve business performance and to help retain and attract top talent. With that in mind, we are committed to providing staff with a vibrant health and wellbeing program.
As well as providing staff with health and wellbeing facilities, we are also committed to providing adequate tools, resources, and initiatives in order to improve productivity and engagement, recognising our staff as our most important asset.
When you join us, you will gain access to our holistic wellbeing program, including;
Physical fitness challenges
We understand the importance of leading a physically healthy lifestyle, and encourage participation in our annual fitness challenges such as 10,000 Steps. These programs are well received and our employees’ feedback to date is that they not only helped them stay physically active, but really increased team morale and engagement.
Each year before the flu season hits, every employee is entitled to receive a complimentary flu vaccination to help our people stay happy and healthy through winter.
Whether you want to partake in a weekly boxing or meditation class, or if you prefer to do your own workout, our on-site gym facilities are a great way to get healthy, stay fit, and engage with other colleagues.
As part of our mental health strategic plan, we deliver mental health essentials training to all of our employees and managers.
We are committed to improving mental health literacy and in doing so support initiatives such as Mental Health Month and R U OK? Day.
Through partnering with Wherefit we are able to provide our employees with access to discounted corporate rates at top fitness brands including Anytime Fitness, F45, Power Living Yoga, Studio Pilates, Snap, Infinite cycle and more.
1. Online application – 15-30 minutes
You will need to upload your resume, transcripts and details of your work or volunteer experience. We highly recommend you also write a supporting statement to showcase your suitability and interest in the program.
2. Online ability testing – 90 minutes
If eligible, you will be invited to complete online ability testing which will assess your ability in verbal, numerical and inductive reasoning
3. Phone interviews – 10 minutes
For those who progress, you can expect a call from one of our recruitment consultants. Be prepared to discuss your interest in the Bank, why you applied and what you would bring to the Bank if successful.
4. Assessment and face-to-face interviews – 3 hours
We will then be in contact to invite successful applicants in to our Sydney office. You can expect:
• A face-to-face interview
• A topical case study assessment
• Online writing assessment
We will organise travel for any successful interstate applicants.
5. Reference checks You will be asked to provide two referees, either professional or academic.
How many graduate positions do you have?
Our intake can vary from year to year, but it is usually around 30-40 positions.
Am I eligible to apply?
We encourage you to visit the relevant pages and advertising for the stream you are interested in applying for to review the criteria. We also appreciate that our application process is highly competitive and encourage you to re-apply the following year if unsuccessful.
Can I apply to more than one stream?
Yes, however, we encourage you to read the criteria for each stream and ensure you are eligible before proceeding.
What degrees will you be looking to recruit from?
This will vary dependent upon the program but we are interested in a variety of degrees including:
- Information Technology
- Computer Science
- Data Science
Please visit the relevant stream on our website for more information.
I am currently on a Student Visa. Am I eligible to apply?
We are not able to provide sponsorship for our Graduate Program so Australian permanent residency or citizenship is required.
Will late applications be accepted?
We cannot accept applications after the closing date of the program so it is best to complete your application early.
My Professor has told me that I need a perfect GPA as the process is extremely competitive. Is this true? How do I stand out?
No. While the academic achievement of an individual is considered as part of the application, we consider a number of different attributes including communication and problem solving skills, an ability to build relationships and alignment to our values. We also review your professional and volunteer experience and transferable skills that are relevant to the stream you have applied for.
It is important to take the time to complete all aspects of the application and we do expect to see signs that you have done some research prior to applying or attending an interview. We have a range of information available on our website that may assist in finding out more about us.
I have submitted an application, what happens next?
Our Talent Acquisition Consultants are reviewing applications throughout the application period and may invite you to complete testing before applications close. We will ensure all applications are reviewed at the close of advertising and aim to have finalized offers for our Graduate Program by May and our Intern program by July.
Can I complete the graduate or intern program from a State Office?
No. Both our graduate and intern programs are based in our Sydney head office.
I’ve been offered an interview but am based in another state. Will I be required to pay to attend the interview?
Congratulations on securing an interview, your Talent Acquisition Consultant will be able to discuss arrangements with you when scheduling.
Will I be rotated through different teams while on the Graduate Program?
Most of our programs are rotational but the lengths and locations of the rotations may vary year to year. Visit the page of the program you are interested in to find out more.
I’ve been made an offer, will you help with relocation?
Yes, if successful and you reside interstate, we will provide relocation assistance to help you move to Sydney.
I have a question that isn’t answered here, how do I reach you?
We encourage you to follow us on Facebook, LinkedIn and Instagram. By following us on social media you will get updates on the selection process and insight into our programs. Send us a message and we will ensure one of our recruitment team will get back to you as soon as possible.