Resident Advisor to CARTAC

Job Posting Organization:
The Caribbean Regional Technical Assistance Center (CARTAC) is a multidonor-financed institution that provides capacity development, including technical assistance and training, in economic and financial management to 23 countries. It operates under the auspices of the International Monetary Fund (IMF) and aims to enhance the capabilities of its member countries in managing their economic and financial systems effectively. CARTAC's mission is to support the development of robust financial systems and improve economic governance in the Caribbean region, thereby contributing to sustainable economic growth and stability. The organization is committed to fostering collaboration among its member countries and leveraging expertise from various stakeholders to achieve its objectives.

Job Overview:
The position of Resident Advisor to CARTAC is a long-term contractual assignment based in Bridgetown, Barbados, with a term of 12 to 24 months, potentially extendable up to a maximum of 4 years based on performance. The advisor will play a crucial role in assisting participating countries in developing their macroprudential frameworks and enhancing their stress-testing capacities. This role involves responding to capacity development and cooperation requests from CARTAC member countries, which may require travel or remote assistance. The advisor will work closely with the CARTAC team and the Monetary and Capital Markets Department (MCM) of the IMF, contributing to the formulation of well-prioritized medium-term work programs and providing bilateral technical assistance and regional training. The advisor's work will focus on upgrading data collection and management practices, establishing financial stability objectives, improving financial stability reporting, and strengthening the macroprudential surveillance framework of the authorities.

Duties and Responsibilities:
The resident advisor will have a comprehensive set of duties and responsibilities, including:

• Responding to capacity development and cooperation requests from CARTAC member countries.
• Traveling or providing remote assistance to member countries as needed to perform assigned duties.
• Assisting in the development of medium-term work programs that prioritize the needs of member countries.
• Providing bilateral technical assistance in upgrading data and information collection and management to enhance systemic risk monitoring practices.
• Establishing intermediate objectives for financial stability and developing indicators of vulnerabilities, including early warning indicators.
• Calibrating and implementing macroprudential tools to mitigate systemic risks.
• Improving financial stability reporting by articulating the objectives of macroprudential policy and the interlinkages between the financial sector and the real economy.
• Strengthening the organizational efficiency and effectiveness of the macroprudential surveillance framework.
• Enhancing the capacity of authorities to conduct bottom-up and top-down macro stress tests by implementing appropriate methodologies. 1
• Ensuring that all advice provided aligns with IMF policies.

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

• Extensive practical experience in financial stability assessment, financial stability report writing, and quantitative methods of financial stability analysis. This experience should ideally have been gained in a central bank, a financial stability unit outside of the central bank, or through the delivery of Technical Assistance.
• A graduate degree in economics, finance, or a related field is required.
• Strong interpersonal and communication skills are essential for effective collaboration with various stakeholders.
• The ability to work closely with senior government officials and other experts, both long-term and short-term, is crucial.
• Strong oral and written communication skills in English are mandatory, as the advisor will need to articulate complex concepts clearly and effectively.

Educational Background:
Candidates must hold a graduate degree in economics, finance, or a related area. This educational background is essential to ensure that the advisor has the necessary theoretical knowledge and analytical skills to perform the duties associated with the position effectively. A strong foundation in economic principles, financial systems, and quantitative analysis is critical for success in this role.

Experience:
The position requires extensive practical experience in financial stability assessment and related fields. Candidates should have a proven track record of working in environments such as central banks or financial stability units, where they have developed expertise in financial stability analysis and report writing. Experience in delivering technical assistance is also highly valued, as it demonstrates the ability to apply theoretical knowledge in practical settings and to engage with various stakeholders effectively.

Languages:
Proficiency in English is mandatory for this position, as the advisor will be required to communicate effectively with stakeholders and produce written reports. While English is the primary language of communication, knowledge of additional languages may be considered an asset, particularly if it enhances the advisor's ability to engage with member countries in the Caribbean region.

Additional Notes:
This is a long-term contractual position with a term of 12 to 24 months, with the possibility of extension based on performance, up to a maximum of 4 years. The role is full-time and requires the advisor to be based in Bridgetown, Barbados. The IMF is committed to diversity and inclusion in its hiring practices, welcoming candidates from various backgrounds, including different genders, nationalities, cultures, and educational experiences. The organization also provides reasonable accommodations for disabilities during the selection process.