21 October 2016

Director of Central Bank Financial Stability Department

Harpa Jonsdottir

Harpa Jónsdóttir has been appointed Director of the Central Bank of Iceland’s Financial Stability Department. The Financial Stability Department’s role is to analyse financial system risk and participate in the formulation of prudential rules for the financial system. The department also oversees the activities of the Systemic Risk Committee and participates in broad-based international cooperation on the regulatory framework and supervision of the financial system.

Harpa has served as Deputy Director of the Financial Stability Department for the past five years. Prior to that, she served as head of Research and Contingency at the Central Bank and worked in risk management for Sparisjóðabanki Íslands (Icebank) and Glitnir. Harpa has acquired extensive experience of research and policy-making in her work. She has also been an alternate member of the Board of the Financial Supervisory Authority since 2012. Harpa has a BS in Mathematics from the University of Iceland and received her MS and PhD in Engineering from Danmarks Tekniske Universitet.

The hiring process was carried out by human resource management firm Hagvangur. A selection committee evaluated the applicants and made a recommendation on the position. Members of the selection committee were Arnór Sighvatsson, Deputy Governor of the Central Bank; Friðrik Már Baldursson, Professor of Economics at Reykjavík University; Már Guðmundsson, Governor of the Central Bank; and Unnur Gunnarsdóttir, Director-General of the Financial Supervisory Authority. Considering Harpa’s experience of research, policy-making, and management and her knowledge of the financial system, the selection committee was unanimous in its recommendation that she be hired, and the Governor has therefore decided to hire Harpa for the position.