EAC FSDRP I Project FINANCIAL STATISTICS SPECIALIST

BACKGROUND

The EAC Financial Sector Development and Regionalization Project I (EAC - FSDRP I), which is funded by a $16 million IDA grant, became effective in June 2011. The project aims to support the development of the East African financial sector, through the establishment of a single market in financial services. Creation of a single financial services market, will also contribute to realization of the Common Market Protocol, by facilitating the attainment of the four freedoms i.e. movement of goods, labour, services and capital.

Under FSDRP I, the Project Administration Team (PAT) has begun work to establish foundations for EAC financial sector regionalization through; establishing core capacity at the institutional level to support the EAC financial sector integration process; producing EAC model directives for financial sector laws and regulations; and achieving early wins in regional integration of market infrastructure.

The FSDRP I is structured into six components. The components are: (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 infrastructure; (v) development of a regional bond market; and (vi)capacity building. The East African Community Secretariat intends to use part of the project’s funding for recruitment to fill various vacant positions.

FINANCIAL STATISTICS SPECIALIST

(1 POST) – REF: EAC/HR/2012/41 )


Directorate: Planning
Reports to: Regional Financial Policy Advisor, Sectoral Analysis
Duration of Contract: 2 years Fixed Term (Non-Established)
Station: East African Community (EAC) Headquarters,


1.0 MAIN PURPOSE OF THE POSITION

The overall objective of the position is to collect and organize harmonized financial sector statistics aimed at enhancing the availability of timely, reliable, comprehensive and comparable financial


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data. Analysis of this data will inform the development of policy and reform initiatives required for achievement of an integrated market for financial services.




1.1 SCOPE OF THE WORK

THE FINANCIAL STATISTICS SPECIALIST’S RESPONSIBILITIES WILL INCLUDE:

1. Review and appraise the existing frameworks on compilation of harmonized Financial Soundness indicators (FSI), Financial Statistics (MFS) and statistics necessary for the development of policies in the banking, pensions, insurance and securities subsectors sectors among the EAC Partner States.

2. Review and harmonize concepts/definitions, processes and methodologies for designing, and compilation of the financial sector statistics, including monetary and financial statistics and Financial Soundness indicators for the region.

3. Create a framework for the generation of regional aggregates where necessary for the above mentioned sectors together, with Micro-Finance Institution and other Financial Sector Institutions and validate it in consultation with the relevant partner state institutions.

4. Develop a framework for ensuring compliance to regionally harmonized compilation practices and the associated institutional arrangements.

5. In liaison with other statistics specialists in the department of planning, facilitate the adoption by Partner States of the manuals necessary for generation of financial soundness indicators following the Basle Committee guidelines and other relevant manuals for compilation of statistics, relating to the capital markets, pensions and insurance sectors.

6. Compile and analyse data relating to formal and informal cross- border financial flows between EAC member states.

7. Build capacities of Central Banks, Capital Markets Agencies, National Statistics Offices, Pensions, insurance and other players in the financial sector in compilation of regionally harmonized statistical data, relating to both formal and informal financial flows.

8. Facilitate the creation of a platform for comprehensive exchange of experiences and sharing the regional capacities, relating to statistical data collection and analysis, among EAC Partner States.

9. Provide technical backstopping to Partner States at various stages of compilation of financial sector statistics.

10. Identify challenges in the harmonization process and suggest policy options.

1.2 DELIVERABLES

THE FINANCIAL STATISTICS SPECIALIST WILL DELIVER THE FOLLOWING:-

i. Comprehensive strategy and policy options for compilation of reliable financial sector statistics developed

ii. Harmonized definitions, concepts, methods and tools for compilation of financial sector statistics and create a mechanism for their adoption by the national experts in the EAC Partner States

iii. Standardized reporting formats based on the international manuals and best practices.

iv. Regional manual and relevant documents on compilation of statistics necessary for policy formulation in the financial sector.

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v. Establish the EAC financial statistics database to facilitate surveillance for financial stability
vi. Quarterly progress reports on harmonization of financial sector statistics.

vii. Half yearly reports analysing regional financial flows and where appropriate extract recommendations for policy or reform interventions.






QUALIFICATIONS AND EXPERIENCE:

Applicant should have a Master’s degree in Statistics or Economics or any relevant area, with bias in Financial Economics from a recognized University/ institution. Holders of PhD in the relevant areas will have an added advantage.

At least ten (10) years demonstrated working experience in compilation or interpretation of financial sector statistics in a National, Regional or International organization such as Central Bank, Statistics Office, capital markets, Insurance and Pensions Sector or any relevant financial sector institution. Four of the above years should have been at a senior level.

SKILLS AND COMPETENCIES

Strong familiarity with relevant statistical software such as Stata and SPSS Knowledge of the financial sector statistics requirements necessary for development of policies relevant for ensuring financial stability. Ability to conduct independent research. Demonstrated knowledge of the East African region. Effective communication, presentation, computer, conceptual, analytical and writing skills. Working experience in a multi-cultural and multinational environment is an added advantage. Leadership, team- building and people management skills. Fluent in both written and spoken English.


TERMS AND CONDITIONS OF SERVICE

This post is a non-established EAC-FSDRP project position, supported by donor funds. Contract terms are limited to the period of the project (i.e. March 2014). Renewal is possible subject to extension of the funding and individual staff’s performance. Attractive consolidated remuneration packages for fixed contract positions will be paid in accordance with the EAC-FSDRP budget.

HOW TO APPLY

Suitably qualified 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 telephone/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: vacancies@eachq.org


To be received not later than October 15th 2012