Resident Advisor on Financial Stability

Job Posting Organization:
The International Monetary Fund (IMF) is a global organization established to promote international monetary cooperation, facilitate sustainable economic growth, and reduce poverty around the world. Founded in 1944, the IMF has grown to include 190 member countries and operates in various regions, providing financial assistance, policy advice, and technical assistance to its members. The IMF's mission is to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. The organization employs thousands of professionals across its headquarters in Washington, D.C., and its regional offices, including the newly established Southeast Europe Technical Assistance Center (SEETAC) in Rome, Italy, which will begin operations in January 202

• SEETAC aims to enhance the capacity of member countries in the Western Balkans and Moldova to design and implement effective economic policies.

Job Overview:
The Resident Advisor on Financial Stability will play a crucial role in the Southeast Europe Technical Assistance Center (SEETAC) by providing expert guidance and support to member countries in the region. This position is vital for strengthening the capacity of these countries to assess and monitor systemic financial stability risks and to develop robust frameworks for macroprudential policymaking. The Advisor will be responsible for responding to capacity development requests from SEETAC members and assisting relevant authorities in creating and implementing well-prioritized medium-term capacity development work programs. The role requires a deep understanding of financial stability and macroprudential policy work, including financial sector risk analysis, monitoring systemic risks, and implementing macroprudential tools. The Advisor will also be involved in preparing high-quality financial stability reports and managing technical assistance delivery, ensuring that all activities align with IMF policies and the results-based management framework.

Duties and Responsibilities:
The duties and responsibilities of the Resident Advisor on Financial Stability include:

• Supporting authorities in financial stability and macroprudential policy work, including conducting financial sector risk analysis, monitoring and identifying systemic risks, and compiling financial sector vulnerability indicators.
• Assisting in the implementation of macroprudential tools and developing decision-making structures for macroprudential policy.
• Conducting macro stress testing, including scenario design and tool development, and analyzing financial sector interconnectedness and shock transmission channels.
• Preparing and publishing financial stability reports that provide high-quality analysis and communicate risks clearly to the public.
• Managing and delivering technical assistance on systemic risk analysis and macroprudential policies, both directly and through short-term experts.
• Coordinating and delivering capacity development activities under SEETAC’s workplan, including training workshops and regional seminars tailored to the needs of recipient authorities.
• Keeping MCM backstoppers informed of major developments and coordinating with other capacity development providers to ensure efficient use of resources.
• Leading annual work planning and budgeting for SEETAC’s capacity development program on financial stability and contributing to outreach activities.
• Ensuring that all advice provided is consistent with IMF policies and observing IMF procedures.

Required Qualifications:
The successful candidate for the Resident Advisor position should possess the following qualifications:

• A minimum of ten years of experience working in a central bank, specifically in the operational implementation of macroprudential policies and systemic risk analysis.
• A graduate degree in economics, finance, or a related field.
• Strong oral and written communication skills in English, with the ability to draft high-quality reports and deliver effective capacity development outputs.
• Excellent interpersonal skills, including the ability to work effectively as part of a team, build relationships with senior government officials, and handle sensitive matters with discretion.
• A willingness and capacity to undertake extensive travel within the region to support in-person capacity development delivery.
• Proficiency in modern computer systems and applications.
• Experience in delivering technical assistance, advisory services, capacity development, or professional training is highly desirable.

Educational Background:
Candidates must have a graduate degree in economics, finance, or a related field. This educational background is essential for understanding the complexities of macroeconomic policies and financial stability frameworks, which are critical to the role of Resident Advisor on Financial Stability.

Experience:
The position requires at least ten years of relevant experience, particularly in a central banking environment. This experience should focus on the operational implementation of macroprudential policies and systemic risk analysis, which are key components of the role. Candidates should demonstrate a strong track record of working in financial stability and macroprudential policy areas, showcasing their ability to manage complex projects and deliver results in a timely manner.

Languages:
Fluency in English is mandatory, with strong oral and written communication skills being essential for the role. While English is the primary language required, knowledge of additional languages relevant to the Southeast Europe region may be considered an asset, enhancing the Advisor's ability to communicate effectively with local authorities and stakeholders.

Additional Notes:
This position is based in Rome, Italy, with an initial contract term of twelve months, which may be extended based on performance and funding availability. The role is full-time and involves extensive travel within the Southeast Europe region to facilitate in-person capacity development activities. Compensation and benefits are competitive and commensurate with the candidate's qualifications and experience. The IMF is committed to diversity and inclusion and welcomes applications from all qualified individuals, ensuring that the recruitment process is free from discrimination.