The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is seeking an experienced expert to work as Resident Advisor in Financial Supervision and Regulation at the Regional Technical Assistance Center for West Africa (AFRITAC West-AFW) in Abidjan, Cote d’Ivoire. AFW covers 10 jurisdictions in the region, namely Benin, Burkina Faso, Côte d'Ivoire, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, and Togo. All but Guinea and Mauritania belong to the WAEMU and are supervised by a regional Banking commission, based in Abidjan.
Duties and Responsibilities
The main responsibility of the advisor will be to help identify and address the Capacity Development—technical assistance and training—needs of AFW member countries in the area of financial supervision and regulation, taking into account the individual countries’ differing levels of supervisory effectiveness. The resident advisor will assist country and regional authorities covered by AFW in developing and implementing actions plans to strengthen capacity in banking regulation and supervision. His/her primary responsibilities will be to: (I) support AFW Center Coordinator (CC) and Steering Committee (SC) in developing and monitoring the AFW work plan in those areas; (II) consult with banking supervisory authorities of recipient countries with a view to develop a TA action plan to be delivered by AFW; (III) identify and develop new TA projects; and (IV) actively coordinate with other TA providers and their experts. To this end, the main duties of the advisor will be to:
- Develop an action plan to be discussed with the backstopper at HQ and approved by the SC and deliver TA in line with the action plan. Over time, the advisor will prioritize and update, as deemed necessary, the list of TA needs for each country and regional institutions covered by AFW.
- Contribute to AFW annual budget preparation and monitoring of budget usage throughout the year.
- Coordinate, as needed, the delivery of TA for non-bank financial sector (such as Microfinance institution, insurance, and Security markets).
- Observe the policies and procedures of the IMF and AFW, exercising the utmost discretion regarding all matters of official business; in addition, observe the MCM policies and procedures on delivery of TA, including timely and formal review, clearance and documentation requirements.
- For each TA mission, prepare draft terms of reference and submit them for review to the backstopper at HQ and the CC one to two months in advance of the mission.
- Within one month of the end of the mission, submit mission report for review to the backstopper at the HQ and the CC. The mission report will have to be submitted to the relevant authorities within two months of the end of the mission.
- Gather information on alternative sources of TA in the field in order to coordinate the delivery of such assistance and avoid duplication of efforts and inefficient use of resources.
- Identify and propose for hiring short-term experts needed to complement his work in implementing the work plan; backstop these short-term experts.
- Liaise with donor representatives active in the field, as needed.
- Make contributions to the annual report of the Center in his area of responsibility.
- Organize events such as training, workshops, seminars or secondments for the recipients.
- Prepare results-based frameworks (logframes) to Design and deliver TA in line with the Fund’s Results-based Management (RBM) framework. Discuss and agree with authorities on the milestones expected from TA. Use the Fund’s RBM system CD-PORT/CDMAP to track and update TA results.
- Carry out outreaches in line with AFR’s/AFW’s strategy.
- Work under the guidance of the AFW CC on day-to-day operational matters, while being responsible to the MCM Technical Assistance and the Financial Supervision and Regulation Divisions on policy and analytical matters. In particular, the advisor will confer with the MCM backstopper and with the MCM Financial Supervision and Regulation Division management on questions and actions of substantive importance in financial sector supervision.
The selected individual should have:
- Good knowledge of international standards in banking supervision;
- Extensive (at least seven years) practical experience in bank supervision/bank regulation. Such experience would have been acquired in a central bank, bank supervisory institution, and/or by the delivery of Technical Assistance;
- A degree in economics, finance, accounting, or a related area;
- Strong oral and written communication skills in French and at least a good working level command of English;
- Strong reporting skills;
- Excellent interpersonal skills, and ability to work as part of a team, including other long-term and short-term experts; to maintain effective and cooperative relations with national authorities (including senior government officials) and donors; and to handle sensitive issues with discretion in a multicultural environment;
- Willingness to undertake significant travel within the region. If needed, for certain high-risk countries, the TA can be delivered outside the high-risk country through out-of-country meetings and training; and
- Familiarity with modern computer systems and applications.
The selected individual would initially be hired for one to two years (contractual appointment), with a possible extension up to a maximum of five years. Compensation and benefits will be competitive and commensurate with successful candidate’s skills and experience.