REGIONAL FINANCIAL POLICY ADVISORS
BACKGROUND INFORMATION
Following the signing and ratification of the Common Market Protocol, the EAC
Secretariat in collaboration with the World Bank and other Development Partners is
preparing the EAC Financial Sector Development and Regionalization Project I (EAC
- FSDRP). The objective of the project is to support the development of the financial
sector through the establishment of a single market in financial services among EAC
Partner States. This objective will be achieved through two back-to-back projects
over a 9 year period. FSDRP I will take place from 2011 to 2013 and FSDRP II from
2014 to 2019.
A Project Preparatory Advance (PPA) agreement was signed between EAC
Secretariat and the World Bank on 12th July 2010. The objective of the PPA is to assist
the Secretariat undertake identified urgent activities which will help in the timely
commencement of the project. They include the recruitment of a team of experts for
the Department of the EAC Financial Sector. The EAC FSDRP I was approved by the
World Bank Board in January 2011.
The FSDRP I is structured in five pillars with a base component of capacity building.
The pillars are the following: (i) financial inclusion and strengthening market
participants (ii) harmonization of financial laws and regulations against common
standards; (iii) mutual recognition of supervisors; (iv) integration of financial market
infrastructures; and (v) development of a regional bond market.
Applications are invited from suitably qualified citizens of East Africa (Burundi,
Kenya, Rwanda, Tanzania and Uganda) for the following non-established position
under the EAC – FSDRP World Bank project at the East African Community.
Headquarters in Arusha, Tanzania.
EAST AFRICAN COMMUNITY
SECRETARIAT
DETAILED TERMS OF REFERENCE OF THE POSITION:
REGIONAL FINANCIAL POLICY ADVISORS (2 POSITIONS)
(REF: EAC/FSDRP/WB/02/2011)
1.0. Main purpose of the job
The main objective of the position of Regional Financial Policy Advisor is to facilitate
efficient and effective implementation of the EAC- Financial Sector Development
and Regionalization Project by improving the performance of the financial markets.
The Regional Financial Policy Advisor will report to the Head of Department
responsible for the Financial Sector.
2.0. Specific Tasks of the Regional Financial Policy Advisor
The key responsibilities of the Regional Financial Policy Advisor will include:
a) Provide guidance and advice on the operations of the financial sector in the
Partner States;
b) Provide substantive technical input into policies and strategy facilitating the
operations of the financial market with a view to establishing a single market in
financial services among EAC Partner States;
c) Play a leading role in the adoption of the international best practices by Partner
States;
d) Facilitate the improvement of standards with a view to creating an efficient
surveillance of securities transactions across borders of the Partner States;
e) Recommend programs for capacity building with a view to ensure market
integrity;
f) Facilitate the implementation of Council and Summit decisions/ directives and
directives related to the sector;
g) Facilitate sharing of data and other relevant information with a view to ensuring
transparency in the sector;
h) Take a proactive role in developing a comprehensive financial surveillance
database, monitoring and evaluation system;
i) Facilitate the creation of a platform for comprehensive exchange of experiences
and sharing the regional capacities among EAC Partner States;
j) Provide technical backstopping to Partner States at various stages of creating an
efficient financial market;
k) Identify challenges in the harmonization process and suggest policy options;
l) Leading on policy dialogue with EAC Governments and stakeholders and
providing guidance to management on technical issues;
m) Business Development: Cultivating strategic relationships with stakeholders and
marketing and lining up of specialists, as needed, to follow up;
n) Strategy: Ensuring alignments with the World Bank guidelines;
o) Task management: Task-management/team leadership of strategic initiatives;
p) Quality Assurance: Responsible for overall quality of deliverables and follow-up
to ensure on-time delivery;
q) Upstream review of technical/study reports/ project documents and provide
comments as required;
r) Present monthly reports on the FSDRP I progress in a format and level of detail
agreed with EAC Secretariat and stakeholders;
s) Assist the EAC Secretariat in preparing quarterly project progress reports, a
project completion report, and monitoring and evaluating operational and
strategic reports;
t) Foster a team environment, mentor staff and ensure that capacity building is well
integrated into all project activities;
u) Undertake other duties as may be requested by the EAC Secretariat.
3.0. Outputs/Deliverables
The Regional Financial Policy Advisor will deliver the following:-
a) Harmonized standards and policies on operations of an efficient financial
market in place and adopted by the Partner States;
b) Enhanced Capacity of the national experts and other relevant stakeholders in
the integrated financial market;
c) A comprehensive strategy on policy options for the improvement of the
performance of the financial markets;
d) Progress reports on the development of an efficient market.
4.0. Qualifications
Applicants should have a Masters degree in Finance, Economics or any relevant area
with bias in finance from a recognised University/ Institution. Holders of PhD in the
relevant area will have an added advantage.
5.0. Experience and Skills
Applicants should have the following professional experience and skills:
a) At least eight (8) years demonstrated working experience in operations of
financial markets at National, Regional or International organisations level
with a Masters degree or three (3) years with a PhD;
b) Demonstrated ability to develop practical and innovative approaches to
difficult policy, institutional, and operational issues;
c) Practical knowledge in policy formulation for operations of financial markets
and ability to engage in a broad range of financial policy issues – including
financial sector policy and regulation, banking, capital markets, insurance,
access to finance, rural finance, banking governance, and the financial aspects
of PPPs;
d) Knowledge of the East African Community integration process;
e) Working experience in a multicultural and multinational environment is an
added advantage;
f) Skills: Effective communication, presentation, analytical, writing and;
g) Leadership, team building and people management skills;
h) Fluent in both written and spoken English. Good knowledge of another UN
working language will have an added advantage.
6.0. Terms and conditions of service
This is an EAC-FSDRP project position supported by Donor Funds, and is a nonestablished
position for which contract terms are limited to the period of the project,
and may be renewed subject to extension of the funding. The Financial Regional
Policy Advisor will be recruited by the EAC Secretariat for an initial period of six
months and the contract may be renewed contingent upon project budgeting and a
satisfactory performance evaluation. Attractive consolidated remuneration packages
for fixed contract positions will be paid in accordance with the EAC-FSDRP budget.
7.0. Starting period
April 2011.
HOW TO APPLY
Interested candidates should submit their applications quoting the reference number
of the position applied for by registered mail, courier service, e-mail (all soft copies
should be in MS Word) or dispatch together with Curriculum Vitae, copies of both
academic and professional certificates and testimonials, names and addresses of
three referees, and day time tele/cell phone contact details to:
The Secretary General
East African Community
Arusha International Conference Centre
5th Floor, Kilimanjaro Wing
P.O. Box 1096
Arusha - Tanzania.
Fax No: 007 27 2502455/2504481
E-mail: eac@eachq.org
To be received not later than 31st March 2011
The East African Community is an equal opportunity employer. Female
candidates are encouraged to apply. We shall only respond to those candidates
who strictly meet the set requirements.
