Resident Advisor in Financial Sector Supervision - CARTAC (MCMTA)

Work for the IMF. Work for the World.

Description

This is a long-term expert (contractual) assignment based in Bridgetown, Barbados, with a 12-24 month term, with a possibility of extending—depending on performance—up to a maximum of 5 years.

The Caribbean Regional Technical Assistance Center (CARTAC) is a multidonor-financed institution, providing capacity development (technical assistance and training) in economic and financial management to 23 countries. The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is recruiting a well-qualified resident advisor to CARTAC to assist participating countries in developing their financial sector regulation and supervision capacities. The advisor will be part of the CARTAC team (www.cartac.org) and back-stopped by the MCM of the IMF.

Duties and responsibilities

The resident advisor will respond to capacity development and cooperation requests received by CARTAC from its members and is expected to travel or provide assistance remotely to these countries to perform the assigned duties. By elaborating well-prioritized medium-term work programs, s/he will be required to assist CARTAC members through:

• Managing and delivering TA on financial sector regulation and supervision to CARTAC member countries, directly and through short-term experts (who would be backstopped by the Advisor).
• Upgrading data collection and management practices to strengthen the authorities’ capabilities of monitoring the supervised financial institutions.
• Evaluating the status of financial sector regulation and supervision and making recommendations on the areas and needs for improving the regulatory and supervisory framework.
• Advising on, and helping to implement, improvements in systems for licensing, and for conducting consolidated onsite and offsite group supervision.
• Advising on, and helping to implement, improvements in the organizational structure for supervision.
• Advising on, and helping to implement, improvements in systems for domestic and cross-border supervisory cooperation and information exchange.
• Advising on, and helping to implement, risk-based supervision, including for the nonbank financial sector.
• Providing support to the countries in the region for their implementation plans of the Basel Capital Adequacy Framework and other international standards.
• Organizing workshops and/or seminars on relevant topics.
• Coordinating and assisting short-term experts participating in delivery of financial sector supervision TA to member countries and monitor their work

Any advice provided by the advisor will have to be in line with IMF policies.

Qualifications

The successful candidate should be able to demonstrate creativity and initiative and have:

• At least seven (7) years of experience working in a financial sector supervisory agency, in-depth understanding of international standards for banking regulation and supervision and experience of their implementation at national level. Additional in-depth understanding of international standards for the regulation and supervision of insurance and securities companies would be desirable.
• A graduate degree in economics, finance, or a related area.
• Excellent interpersonal and communication skills, including the ability to work effectively with senior policymakers in the region and the donor community, to lead teams of senior experts, and to work as part of a team that would include staff at IMF headquarters.
• Strong oral and written communication skills in English. Knowledge of French is an advantage.

The IMF is committed to achieving a diverse staff, including in terms of gender, nationality, culture, and educational background.

Department:

MCMTA Monetary and Capital Markets Dept. Technical Assistance StrategyHiring For:

A11, A12, A13, A14The IMF is committed to achieving a diverse staff, including age, creed, culture, disability, educational background, ethnicity, gender, gender expression, nationality, race, religion and beliefs, and sexual orientation.