Position: Senior Economist, Financial Institutions
After completing my PhD at the University of Bonn and the London School of Economics, I spent four years with the Bank of England, where in the end I was working as a manager of a small research team. I then briefly joined the European Central Bank in Frankfurt on a secondment. At its end a job opportunity at the BIS came up, which I thought would be an ideal next career step.
And I was right, as I have continued to develop throughout. The BIS is a unique and challenging environment. On the one hand there are the people, who have a deep knowledge about economics, not only academically but also about political and practical issues. Such an environment does not allow for weak arguments, but you can learn a lot from your colleagues.
On the other hand, there are the policy issues we grapple with. The recent crisis made finding answers urgent, but solutions are not always obvious. In many areas, the BIS influences the thinking at central banks and financial regulators. In fact, it seems to me that the weight of the BIS is quite disproportionate, considering how few people work here.
Over the past year, I've worked on two important projects, both for working groups of the Basel Committee. The first was the development of the countercyclical capital buffer proposal. The other focused on the costs and benefits of higher capital regulation. For both projects I provided background research but was also closely involved in drafting the two papers.
Then there's Basel itself: it's a great place to live. I thoroughly enjoy my 10-minute bike ride to work, and life with small kids is really easy. I also take great pleasure in having the Jura (a low range of wooded hills) in front of our doorstep and the Alps less than two hours away. I'd recommend it to anyone.
"The BIS influences the thinking of central bankers and financial regulators."
Mathias Drehmann
Senior Economist, Financial Institutions
