EAC FSDRP I Project PENSIONS 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.

PENSIONS SPECIALIST

(1 POST) – (REF: EAC/HR/2012/47)

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

Arusha, Tanzania


MAIN PURPOSE OF THE POSITION:

The EAC- FSDRP 1 requires the services of an experienced pensions’ sector professional, familiar with the operations and management of pension schemes within the region and/or developing economies, to provide technical leadership for the interventions required to integrate the sector. To

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carry out his/ her tasks the Pension Specialist should liaise with relevant financial and pension sector institutions. These include but are not limited to central banks capital markets regulators, insurance and pension regulators, fund managers


SCOPE OF THE ASSIGNMENT:

The position requires delivery of the incumbent’s own direct technical inputs, together with guiding analytical work and consultative processes relating to pension sector development. The Pension Specialist’s responsibilities will be as follows:

1. To provide technical inputs, knowledge and analysis in the identification, design, and development of regional interventions aimed at integration of the sector.

2. Working alone or jointly with consultants, to assess the pension sectors in the partner states, by identifying the economic, institutional, social and demographic factors, affecting sectoral development.

3. Carry out analysis and consultations, with the aim of informing regional policies and strategies.

4. Using the appropriate pension sector analytical software, the Pension Specialist will model the outcome of various scenarios for the future of the pension sector in partner states, this will include inter alia simulating the effects of reform options for both defined benefit and defined contribution schemes.

5. Work jointly with sectoral stakeholders and where required, specialist resource persons or consultants, in the preparation of draft pension legislation and regulations.

6. The specialist will back- stop technical committees or taskforces together with other structured consultative processes relating to pension sector development and integration, with the aim of consensus development on key project objectives under the project components mentioned in the background section above.

7. Based on the above and other analyses, the specialist will develop recommendations with respect to strategies for regional pension sector reform and integration.


DELIVERABLES:

i) Final Report on East Africa Community Pensions Study. The report should address the number of schemes, how they have been incorporated, their statistical data, including funds under management, members, retirees etc. The report should address the legal framework and the supervisory arrangements in each partner state. The report will also disclose the financial position of each of the schemes.

ii) Policy dossier on recommendations for policy interventions for the regional pensions industry to support the preparation of the EAC Pensions Act, which will enable portability of pensions benefits between schemes across the region;


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iii) Input into the draft Pensions Bill and Regulations.


QUALIFICATIONS AND EXPERIENCE:

A Master’s degree or equivalent in Economics, Business, Finance and/or related fields with a first University degree in Economics, Business, Finance or related fields and specialized experience or a qualification in pension sector management.

At least 8 years of relevant experience, working in developing countries or an emerging market pension sector, including both operational and policy level experience.

SKILLS AND COMPETENCIES:

Strong knowledge and experience in the following areas gained from working in developing countries: Pension legislation; Pension regulation and supervision; The principles recommended by the International Organization of Pension Supervisors; Pension scheme operations; Valuation of defined benefit schemes; Assessing the outcomes of various pension sector options; Knowledge and experience in consumer protection and public education will be an added advantage; Should be in possession of strong analytical and communication skills both written and verbal.

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