PUBLIC INVESTMENT CORPORATION (PIC)

Public Investment Corporation SOC Ltd

Private Bag X187

Pretoria 0001

Republic of South Africa

The Public Investment Corporation SOC Limited (PIC) is an asset management firm, whose mandate is to make investments in various sectors of the economy on behalf of public sector entities. Amongst our clients are the Government Employees Pension Fund, the Unemployment Insurance Fund and the Compensation Fund. Over the years, we have grown to be amongst the top and largest investment managers in South Africa and the rest of the African continent, with current assets under management at over R3.6 trillion. At the centre of our growth is a team of self-driven professionals who are results-focused. 

We are currently seeking applications from dynamic individuals for the following position: 

SENIOR ECONOMIST 

Salary: All-inclusive remuneration package negotiable 

Centre: Research and Innovation 

• *Job Grade: D3 – D5 

• Ref: ECO001 

Purpose of the role: 

·       To provide the PIC with intellectual leadership relating to all aspects of investment strategy, research, macroeconomic forecasts and sector analysis. 

Requirements:

·       Postgraduate qualification in Economics and Econometrics and or any relevant Honours degree in commerce. 

·       Masters in Econometrics, Economics/ Finance & Investments, MBA and or any other relevant Master’s degree or professional qualifications in commerce (Advantageous) or CFA or studying towards CFA would be advantageous. 

·       5 - 7 years relevant experience macroeconomic research, investment strategy, financial markets. 

Duties:

·       Produce reliable and timely economic research and analysis as well as forecast of key variable as an input into investment strategy formulation. 

·       Develop and maintain state-of-the-art macroeconomic and microeconomic models and other forecasting tools to support investment process and socio-economic aims of PIC, including baseline and risk scenarios for growth, inflation, interest rates, the exchange rate, the current account, labour markets and fiscal variables. 

·       Experience with some or all of the following software packages: EViews, Stata, R/RStudio, Python. 

·       Develop, maintain, document and quality-assure macroeconomic, sector, market and socio-economic impact models, databases and forecasting tools. 

·       Have a thorough understanding of how macroeconomics impacts asset classes and financial markets. 

·       Provide macroeconomic and financial-market inputs to the Asset Allocation Committee, Investment Committee, Risk Committee, Board papers, client reports and the Annual Financial Statements, as required. 

·       Communicate with various internal and external stakeholders, respond to ad hoc requests for data, analysis, research and presentations from PIC business units and clients within agreed timelines. 

·       Use automation, data analytics and approved AI-enabled tools responsibly to improve data collection, model maintenance, reporting and presentation workflows, in line with PIC policies and governance requirements. 

·       Maintain robust research governance, including source verification, version control, model documentation, reproducibility and appropriate handling of confidential information. 

·       Keep abreast of international best practice in macroeconomic modelling, forecasting, investment research and communication. 

·       Keep abreast of the latest international best practice in macroeconomic modelling techniques. 

·       Compile required macroeconomic submissions for client reports and the internal business on the economic outlook and its implications for asset allocation, as well as high-frequency data releases. 

·       Monitor and report on country and sectoral economic developments and analyse their impact on the macroeconomy and different sectors of the economy and translate into the impact on the PIC’s asset classes. 

·       Contribute, where applicable, input into the divisions long-term research, provide macroeconomic support, and address ad hoc requests. 

·       Manage and develop junior members of the team. 

Competencies and skills: 

·       Advanced macroeconomic modelling, econometrics, forecasting, and scenario analysis. 

·       Strong understanding of asset management, portfolio construction, financial markets and the transmission of macroeconomic developments across asset classes. 

·       Knowledge of equity, fixed-income, currency, property and alternative-asset market drivers. 

·       Ability to integrate global, domestic, sectoral, developmental and socio-economic analysis into investment-relevant insights. 

·       Developmental and economics and deep understanding of sectors across the continent. 

·       Strategic planning and ability to network and engage with stakeholders in a professional manner. 

·       Interpersonal skills, originality, initiative and drive for results. 

·       Task orientation and time-management skills to operate in deadline-driven environment. 

·       Strong analytical and numeracy skills. 

·       Ability to undertake research and solve problems innovatively. 

·       Ability to work effectively under pressure, independently as well as within a team or project environment. 

·       Proficiency in economic and financial data analysis using tools such as Excel, Bloomberg, EconoStat and approved economic databases; coding or data-visualisation capability would be advantageous. 

·       Excellent research writing, editing, charting and presentation skills, with the ability to communicate complex analysis clearly to technical and executive audiences. 

·       Strategic planning, collaboration and the ability to build credible internal and external networks. 

·       High standards of research integrity, confidentiality, attention to detail and quality assurance. 

·       Originality, initiative, curiosity and a strong drive for results. 

·       Effective prioritisation and time management in a deadline-driven environment. 

·       Ability to work independently and collaboratively across multidisciplinary teams and projects. 

·       Presentation skills. 

·       Attention to detail. 

Our firm values diversity and excellence, and is committed to realising these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and eager to be part of a team that is focused on creating meaningful change, you are encouraged to apply for this position. 

Closing Date: 16 October 2026 

* Grade Range: The grade range for this position is from D3 – D5, commensurate with applicable minimum requirements. 

The PIC is an equal opportunity employer and aligns appointments with its Employment Equity Plan. 

Please forward a copy of your comprehensive curriculum vitae to: Recruitment4@pic.gov.za

Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.