Resident Advisor in Monetary and Foreign Exchange Operations, CAPTAC-DR (MCMTA)

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The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is seeking an experienced expert to work as Resident Advisor in monetary and foreign exchange operations at the Central America, Panama, and the Dominican Republic Regional Technical Assistance Center (CAPTAC-DR). This is a long-term expert (contractual) assignment based in Guatemala City, Guatemala, with a 12-month initial term and a possibility of extension typically up to three years based on performance and funding availability.

The advisor will be part of the CAPTAC-DR team (www.captac-dr.org) and be backstopped by the MCM. CAPTAC-DR is a multi-donor-financed regional capacity development center, covering 7 jurisdictions in the region, namely Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and The Dominican Republic.

Duties and Responsibilities

The main responsibility of the resident advisor will be to help identify and address the capacity-building and other technical assistance (TA) needs of CAPTAC-DR member countries in the area of monetary policy implementation, including open market operations, standing facilities, reserve requirements, liquidity forecasting, collateral lists, emergency liquidity assistance, and communication with the market as well as foreign exchange operations, including intervention strategy, instruments, foreign reserve management, development of hedging market, and communication with the market. In addition, the advisor is expected to support the member country monetary policy modernization effort especially regarding the articulation between monetary policy decision and implementation. Excellent communication and written skills are important to effectively interact with country authorities. Fluency in Spanish and English is essential.

The resident advisor is expected to travel or provide TA remotely as well as to lead/organize selected training for the member countries. By elaborating a well-prioritized medium-term work program, s/he will support CAPTAC-DR member countries through:

Provide, manage, and/or coordinate Capacity Development (CD) on monetary policy and foreign exchange market operations to member countries by:

• Participating in missions, either alone or with short-term experts (STX) that are on the MCM’s roster and providing offsite advice;
• Fielding and backstopping STX identified from the MCM roster and hired by CAPTAC-DR;
• Preparing relevant documentation for each mission, consistent with the established MCM TA procedures; this includes preparation of a briefing paper prior to every mission, provision of a draft report at the end of every mission to be left with authorities for comments, finalizing the report following MCM and the Western Hemisphere Department (WHD) review, and preparation of a back-to-office report upon returning to CAPTAC-DR;
• Participating in MCM missions and coordinating with MCM on its delivery of CD to the member countries within the context of the CAPTAC-DR’s work plan; and
• Organizing, conducting and facilitating training courses, workshops and/or seminars on topics within the mandate, for staff members, at both country and regional levels, after consultation with headquarters.

In collaboration with country members, prepare annual assessments of capacity-building needs in CAPTAC-DR on monetary and foreign exchange operations, taking account of previous TA delivery and developing circumstances. This work will include:

• Establishing and maintaining close relationships with country authorities, notably central banks, to identify TA and training needs and subsequently support their implementation;
• Preparing a 12-month work plan in collaboration with the country authorities and the Center Coordinator (CC), and in coordination with MCM, keeping it updated;
• Observing the policies and procedures of the IMF, applying the results-based management (RBM) strategic framework in guiding the CD activities undertaking (the RBM framework focuses on performance and achievement of results, and is supported by the Fund’s Capacity Development Management and Administration Program (CDMAP));
• Contributing to the CAPTAC-DR annual report on the achievements of the work plan to be presented to its Steering Committee;
• Monitor and assess the implementation of the workplan in line with the RBM framework, and disseminate capacity building achievements, in coordination with the CC;
• Keeping the MCM back-stoppers up to date on major developments; and
• Ensuring that any advice provided by the advisor is in line with IMF policies.

Qualifications

The selected individual would preferably have:

• At least five-year experience in monetary and foreign exchange operations in a central bank;
• Additional work experience with the field of monetary policy decision and/or in the market would be a plus;
• A graduate degree in economics, finance, econometric/statistics, or a related area;
• Strong oral and written communication skills in Spanish and English, including presentational skills in support of training-related activities;
• 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;
• Good organizational and time management skills in balancing demands from member countries with duties and responsibilities from MCM and CAPTAC-DR;
• Willingness to undertake significant travel within the region. If needed, for certain high-risk countries, the CD can be delivered outside the high-risk country through out-of-country meetings and training; and
• Familiarity with modern computer systems and applications.
• Candidates shortlisted for the position will be asked to undertake a quantitative test and an interview as part of the selection process.
• The IMF is committed to achieving a diverse staff, including 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. We welcome requests for reasonable accommodations for disabilities during the selection process.