• Job Vacancy at The International Monetary Fund (IMF)

  • Posted on: 22 February, 2016 Deadline: Not Specified
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  • The International Monetary Fund (IMF) is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

    Created in 1945, the IMF is governed by and accountable to the 188 countries that make up its near-global membership.

    Resident Advisors In Financial Sector Supervision and Regulations (MCMTA)

     

    Description

    The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is seeking seven experienced experts to work as Resident Advisors in Financial Sector Supervision and Regulation to be based in the:

    • Caribbean Technical Assistance Center (CARTAC), headquartered in Bridgetown, Barbados (expected start of assignment, August 2016);
    • East Africa Regional Technical Assistance Center (AFRITAC East), headquartered in Dar es Salaam, Tanzania (October 2016);
    • Pacific Technical Assistance Center (PFTAC), headquartered in Suva, Fiji (June 2016);

    as well as in the:

    • Central Bank of Myanmar, resident advisor based in Yangon, Myanmar (January 2017);
    • Central Bank of Nigeria, headquartered in Abuja, Nigeria (December 2016);
    • Central Bank of Tunisia, headquartered in Tunis, Tunisia (September 2016); and
    • Nepal Rastra Bank, headquartered in Kathmandu, Nepal (August 2016).

    DUTIES AND RESPONSIBILITIES:

     

    I. Resident Advisor at a Regional Technical Assistance Center (RTAC)

     

    The advisor will help identify and address the capacity-building and other technical assistance needs of RTAC member countries in the area of financial sector supervision, taking account of the individual countries’ differing levels of supervisory effectiveness. To this end, the advisor will need to:

    1. Review existing laws, regulations, policies, and procedures.
    2. Consider and determine the status of recommendations that were made by previous IMF missions and, insofar as possible, other donor agencies.
    3. Provide recommendations regarding replacement or supplementing of laws, regulations, policies, and procedures as needed.

    The second area of work for the advisor will be coordination of work on the supervision and regulation of banks and nonbank financial institutions, principally through the fielding of short-term experts on the various sectors from the MCM roster.1/

     

    The work of the advisor will include:

    1. Providing direct technical assistance on banking supervision and related issues to members of the RTAC in the areas of banking supervision, bank restructuring, and, through the fielding of short-term experts, the supervision of nonbank financial institutions.
    2. At the end of each mission, a report will be left with the authorities for comment, to be revised following internal review by MCM.
    3. Conducting, facilitating, or otherwise participating in in-country or regional workshops and seminars.
    4. Coordinating and working with short-term experts on MCM’s roster on issues relating to banking and financial sector supervision and regulation, and helping to prepare and monitor their work programs under the supervision of the MCM backstopper.
    5. Participating in MCM missions and following up on previous missions’ recommendations, upon the joint request of MCM and within the context of the work plan of the RTAC.
    6. Coordinating with IMF Area Department missions in the field to review and advance reforms recommended by the Fund, and assisting in developing implementation plans for those reforms.
    7. In collaboration with the country authorities, preparing annual assessments of capacity-building needs in the RTAC member countries, taking account of previous technical assistance (TA) delivery and developing circumstances. This work will include:
      • Preparing 12-month work plan in collaboration with the relevant country authorities and the RTAC Center Coordinator, in coordination with MCM; and
      • Contributing to an annual report on the achievements of the RTAC.

     

    II. Bilateral Resident Advisor at a Central Bank

     

    The resident advisor will be located in a central bank to support the bank on an ongoing basis. The resident advisor will assist the authorities in implementing an action plan to strengthen capacity in banking regulation and supervision. The primary responsibilities will be:

    1. Enhancing the operational and organizational capacity of the staff in charge of supervision of banking (and in some central banks, nonbanks);
    2. Developing a supervisory strategy that specifies supervision priorities and a clear timetable, including setting out prior actions as needed, for the implementation of a risk-based supervisory approach;
    3. Strengthening the supervisory manuals and drafting and issuing implementing guidelines;
    4. Training new staff and enhancing the skills of existing staff in banking supervision policies and risk-based supervisory practices;
    5. Strengthening financial stability capabilities in analyzing and assessing risks to the financial system.

    _________________________

    1/Nonbank institutions refer to those regulated financial institutions that are not commercial banks, but are engaged in the gathering of deposits/deposit-type instruments, provide contractual savings or credit information

     

    Qualifications

    The selected individuals would have a minimum of 10 years of relevant professional experience in a supervisory position, as well as of delivering technical assistance (TA). Excellent command of English (oral and written) is a requirement. At the Central Bank of Tunisia, knowledge of French is required. Applicants should be prepared to be resident in the country where the RTAC or—in a bilateral position—the central bank is headquartered. Selected individuals would initially be hired for one year (contractual), with possible extensions. If you are interested in one or more postings, please rank your assignment in order of preference in your cover letter.
    The IMF is committed to achieving a diverse staff, including gender, nationality, culture and educational background.

    Method of Application

    To apply for this position, visit IMF Career Page on Taleo

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