Resident Advisor in Financial Sector Regulation and Supervision (METAC) (MCMTA)

Work for the IMF. Work for the World.

The Monetary and Capital Markets (MCM) Department of the International Monetary Fund (IMF) is recruiting a well-qualified and experienced expert to work as resident advisor in financial sector regulation and supervision at the IMF Middle East Regional Technical Assistance Center (METAC) located in Beirut, Lebanon. This is a long-term expert (contractual) assignment with a twelve‑month initial term and a possibility of extension typically up to three to five years based on performance and funding availability.

METAC is a multi-donor-financed institution, providing capacity development—technical assistance (TA) and training—to 14 countries to strengthen their institutional capacity to design and implement sound macroeconomic and financial policies. The METAC member countries include Afghanistan, Algeria, Djibouti, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, Sudan, Syria, Tunisia, West Bank and Gaza, and Yemen . The resident advisor will assist participating countries in developing their financial sector regulation and supervision capacities, with a focus on banks. Additionally, with the assistance of MCM and short-term experts, the resident advisor may be asked to cover nonbank financial institutions, securities and insurance providers, as well as new players such as digital financial service providers. [1] The advisor will be part of the METAC team (www.imfmetac.org) and backstopped by the MCM Department of the IMF.

Duties and responsibilities

The resident advisor will respond to capacity development and cooperation requests received by METAC from its members and is expected to travel or provide remote assistance to these countries to perform the assigned duties. The advisor is also expected to lead/organize selected training for the member countries in Beirut or in other METAC member countries. By elaborating well-prioritized medium-term work programs, s/he will be required to assist METAC members through:

• Coordinating with MCM regarding the TA requests received by METAC relating to the regulation and supervision of non-bank financial institutions (e.g. insurance companies, non-bank credit providers, capital market intermediaries, payment service providers, and other financial institutions).
• Managing and delivering TA on financial sector regulation and supervision to METAC member countries, directly and through short-term experts (who would be backstopped by the resident advisor).
• Prepare required documents prior to and after each mission for MCM internal review and approval and ensure transmission of final documents to the relevant country authorities.
• Evaluating the status of financial sector regulation and supervision, including with reference to the Basel Framework wherever relevant, and making recommendations on improving the regulatory and supervisory frameworks with appropriate application of proportionality.
• Preparing specific recommendations on the necessary legislative, regulatory, and operational steps to improve financial sector regulation and supervision.
• Providing support to the countries in the region for their implementation plans of the Basel Framework and other international standards including the undertaking of impact studies in relation to Basel standards.
• Advising on, and helping to implement, improvements in systems for licensing and for conducting consolidated on-site and off-site group 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.

• Interacting with local supervisors and providing on-the-job training as necessary to help implement measures to strengthen financial sector regulation and supervision.
• Conducting, facilitating, or otherwise participating in in country or regional workshops and seminars/webinars, including collaborating with other resident advisors in METAC.
• Keeping the MCM back-stoppers up to date on major developments.
• Observing the policies and procedures of the IMF, applying the results-based management (RBM) strategic framework in guiding the capacity development activities undertaken. (The RBM framework focuses on performance and achievement of results, supported by the Fund’s Capacity Development Management and Administration Program (CDMAP)).
• Leading annual work planning and budgeting for the capacity development program in METAC on financial sector regulation and supervision and contributing to outreach activities and reports on the Center’s activities.
• Ensuring that any advice provided by the advisor is 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 and/or international level.
• Expertise of technical assistance delivery in this field is an advantage.
• A degree in economics, finance, accounting, or a related area.
• Excellent interpersonal skills, including the ability to work effectively with senior policymakers in the region and the donor community, to lead teams of senior experts, to work as part of a team that would include staff at IMF headquarters as well as in METAC, and to handle sensitive issues with discretion in a multicultural environment.
• Very strong verbal and written communication skills in English, and in French or Arabic, including presentational skills in support of training-related activities.
• Good organizational and time management skills in balancing demands from member countries with duties and responsibilities from MCM and METAC.

[1] Nonbank institutions refer to those regulated financial institutions that are not commercial banks but are engaged in the gathering of deposits/deposit-type instruments, provide contractual savings or credit information.

Department:

MCMTA Monetary and Capital Markets Dept. Technical Assistance Strategy

Hiring For:

A11, A12, A13, A14

The IMF is guided by the principle that the employment, classification, promotion, and assignment of staff shall be made without discrimination against any person. We welcome requests for reasonable accommodations for disabilities during the selection process. Information on how to request accommodations will be provided during the application process.