On 21 August 2020, Serhii Ponomarenko voluntarily resigned his position as Director of the Open Market Operations Department of the National Bank of Ukraine.
In this regard, on 25 August 2020, the NBU started a competitive selection process to fill the Open Market Operations Department Director vacancy.
Among other responsibilities, the future director of this department will be in charge of:
- monitoring, analyzing, and forecasting the performance of the domestic and external financial markets
- regulating the banking system’s liquidity and performing foreign exchange interventions
- managing international reserves, etc.
For detailed information on job application requirements, please go to the NBU’s website.
Serhii Ponomarenko came to work at the NBU in September 2014. Since June 2015, he had run the Open Market Operations Department. He was responsible for implementing the regulator’s monetary and foreign exchange policies.
As part of its key accomplishments in managing the FX and monetary markets during Serhii Ponomarenko’s time in office, the NBU:
- conducted the currency liberalization, which resulted in the cancelling of about 40 FX restrictions for businesses and individuals
- transitioned the Ukrainian FX market to a floating exchange rate regime
- ensured its strong presence in the FX market and replenished Ukraine’s international reserves through FX interventions
- transferred the interbank FX market operations to modern international IT platforms (Bloomberg, Refinitiv)
- launched new financial instruments (currency and interest rate swaps, long-term refinancing).