Work for the IMF. Work for the World.
The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) is seeking to recruit an experienced expert to work as a Resident Advisor in Financial Supervision and Regulation at the Central America, Panama, and the Dominican Republic Technical Assistance Center (CAPTAC-DR), based in Guatemala City. The assignment is for an initial term of one year, with a possibility of an extension typically up to a maximum of five years based on performance and funding availability.
CAPTAC-DR, which opened in May 2009, is a multi-donor-financed institution, providing capacity development (CD)โtechnical assistance (TA) and trainingโ in economic and financial management to its seven member countriesโ Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. CAPTAC-DR is guided by a Steering Committee with representatives from the CD recipient countries, donor-partners, and the IMF. CAPTAC-DR seeks to: (i) enhance human and institutional capacity in member countries by providing high-quality practical, focused, close-proximity TA and training; (ii) reinforce government ownership in capacity building; and (iii) contribute to coordination of TA policies among TA providers (IMF, World Bank, and the Inter-American Development Bank (IADB), among others). Additionally, CAPTAC-DR aims to support regional integration initiatives.
The selected resident advisor will assist participating countries in developing financial sector supervision and regulation capacities, primarily in banking and, where relevant, in selected nonbank areas. The resident advisor will be part of the CAPTAC-DR team (CAPTAC-DR.org) and backstopped by the MCM department of the IMF.
Duties and responsibilities
The selected resident advisor will identify and address the capacity-building and technical assistance needs of CAPTAC-DR members, including requests received by CAPTAC-DR from its members, ensuring that recommended action plans are proportionate to the countryโs supervisory capacity and the risk profile of its financial system.
The position will require frequent travel to the CAPTAC-DR member countries and, when necessary, remote provision of capacity development . It will also involve managing a portfolio of short-term experts, included in the IMF expert roster to support the implementation of the resident advisorโs annual workplan. This workplan will focus on the implementation of international standards and good practices in financial regulation and supervision in CAPTAC-DR member-countries, bearing in mind the principle of proportionality. The plan is developed under the IMFโs Results-Based Management (RBM) framework.
By elaborating well-prioritized medium-term work programs, the resident advisor will assist CAPTAC-DR member countries by:
Managing and delivering TA on financial sector supervision and regulation, directly and through short-term experts (who would be backstopped by the resident advisor).
Preparing required documents prior to and after each mission for MCM internal review and approval and ensuring transmission of final documents to the relevant authorities.
Evaluating the status of financial sector regulation and supervision and making recommendations on improving the regulatory and supervisory framework.
Advising on, and helping to implement risk-based supervision, including for the nonbank financial sector.
Providing support to the CAPTAC-DR member countries in their implementation plans of the Basel Capital Adequacy Framework and other international standards in a proportionate manner.
Preparing specific recommendations on the necessary legislative, regulatory, and operational steps to improve financial sector regulation and supervision.
Providing on-the-job training as necessary to help implement measures to strengthen financial sector regulation and supervision.
Conducting, facilitating, or otherwise participating in country or regional workshops and seminars/webinars, including collaborating with other resident advisors in CAPTAC-DR.
Keeping the MCM back-stoppers up to date on major developments.
Observing the policies and procedures of the IMF, applying RBM strategic framework in guiding the capacity development activities undertaken. (The RBM framework focuses on performance and achievement of results, supported by the Fundโs Capacity Development Management and Administration Program (CDMAP)).
Leading annual work planning and budgeting for the capacity development program in CAPTACโDR on financial sector supervision and regulation and contributing to outreach activities and reports on the Centerโs activities.
Ensuring that any advice provided by the resident advisor is in line with IMF policies.
Qualifications
The successful candidate should be able to demonstrate strong analytical and problem-solving skills, sound judgment, motivation, and initiative, and should have:
At least seven (7) years of relevant experience working in the field of financial sector supervision and regulation, primarily in a supervisory agency or equivalent.
In-depth understanding of international standards, particularly those for banking, and proven track record of adapting and implementing them within national supervisory frameworks.
Expertise in technical assistance delivery in this field is an advantage.
A masterโs degree in economics, finance, accounting, or a related area is an advantage.
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 CAPTAC-DR, and to handle sensitive issues with discretion in a multicultural environment.
Strong verbal and written communication skills in English and Spanish, including presentational skills in support of training-related activities.
Proven organizational and time-management skills to manage complex workloads and deliver results while balancing competing priorities across diverse stakeholders.
All applicants are expected to include a Statement of Interest as an attachment to the application, which may be used in the screening process for this vacancy.
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 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.