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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 Market Operations and Financial Market Infrastructures (FMIs), to be based in Accra, Ghana.

Description

The advisor will be located at AFW2 to enhance beneficiary institutions’ capacity to support their monetary policy decision making; design and implement monetary and foreign exchange market operations; and improve the oversight of FMIs. AFW2 is a multidonor-financed institutions, providing capacity development (technical assistance and training) in macroeconomic and financial policies to 6 countries [1]. The resident advisor will help identify and address capacity development (CD) needs, taking account of individual countries’ monetary policy frameworks, FMI oversight frameworks and practices, and their respective capacity levels. The advisor will undertake these activities through technical assistance (TA) missions, training engagements and peer-to-peer learning activities either alone or with specialized short-term experts that are on the IMF MCM expert roster.

This is a one-year contractual position, which is renewable for an additional four years subject to budget availability and satisfactory performance (totaling a maximum of five years). The expert will be resident in Accra, Ghana, with extensive regional travel as deemed necessary by the approved work plan and as requested by the authorities with prior consultation with MCM. To promote knowledge transfer and facilitate sustainability, the advisor will also coordinate activities closely with the relevant AFW2 staff.

Specific duties involved in pursuing these objectives include, but are not limited to:

Delivering, managing, and coordinating CD on monetary and foreign exchange market operations, forecasting and policy analysis systems (FPAS), FX and money market development and oversight of FMIs (payment, clearing, and settlement systems) to AFW2 member countries through:

• Observing the policies and procedures of the IMF, apply the results-based management (RBM) strategic framework in guiding CD activities undertaken. (The RBM framework focuses on performance and achievement of results, supported by the Fund’s Capacity Development Management and Administration Program (CDMAP)).
• Organizing/participating in on- and off-site missions, either alone or with short-term experts that are on the IMF MCM expert roster, and providing offsite advice;
• Fielding and backstopping short-term experts identified from the IMF MCM expert roster and hired by AFW2;
• Preparing a briefing paper prior to any mission to be submitted to MCM for review and approval; preparing a draft report at the end of every TA mission to be left with authorities for comments, and finalizing it following MCM and the African Department (AFR) review; and preparing a back-to-office report upon return to AFW2;
• Participating in MCM missions and maintaining close and proactive coordination with MCM on the delivery of TA to the member countries of AFW2 within the context of the AFW2 work plan;
• Liaising with in-country resident advisors in monetary and foreign exchange market operations and market development on TA delivery;
• Organizing, conducting and facilitating workshops and/or seminars on relevant topics for members’ staff, at both country and regional levels, including workshops organized in collaboration with other AFW2 advisors and/or other Regional Technical Assistance Centers (RTACs);
• Arranging visiting attachments for member country central bank staff to other central banks for capacity building purposes.

In collaboration with the member country and regional authorities, prepare annual assessments of capacity-building needs in AFW2 member countries, taking into account previous CD delivery and developing circumstances. This work will include:

• Preparing and maintaining rolling medium term (up to 3 years) work plans in collaboration with the country authorities and in coordination with MCM;
• Delivering a write up for the AFW2 annual report on the achievements of the work plan, and any challenges/emerging needs.

Specific Responsibilities

In performing his/her duties, the advisor shall:

Ensure the assistance provided in his/her area is consistent with the work plan approved by the AFW2 Steering Committee. Observe the policies and procedures of the IMF and AFW2, exercising the utmost discretion regarding all matters of official business. Maintain relationship and work directly with central banks and other relevant government agencies. Coordinate activities with MCM and, where appropriate, with other IMF and AFW2 advisors, development partners, experts, and advisors appointed by other donors. Work under the guidance of the AFW2 Center and MCM TA Division country manager on day-to-day operational matters, while being responsible to the MCM TA Division Chief. On policy and analytical matters, the advisor will be guided by his/her backstoppers in MCM Central Bank Operations (MCMCO), Monetary and Macroprudential Policy (MCMMP) and Payments, Currencies, and Infrastructure (MCMPI) divisions.

Qualifications

The ideal candidate should have:

Department:

MCMTA Monetary and Capital Markets Dept. Technical Assistance Strategy

Hiring For:

A11, A12, A13, A14

The IMF is committed to hiring 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. Information on how to request accommodations will be provided during the application process.

Level of Education: Bachelor Degree

Work Hours: 8

Experience in Months: No requirements