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Home > Jobs > Employment Opportuni... > Professional/Technical

Launched in 2002 for a period of five years, the Financial Sector Reform and Strengthening (FIRST) Initiative is a multi-donor partnership and grant facility designed to provide technical assistance (TA) to support economic growth and poverty reduction in low- and middle-income countries by promoting stable, deep and diverse financial sectors.  FIRST is currently supported by five bilateral donors – DFID (UK), CIDA (Canada), SECO (Switzerland), MFA (the Netherlands), and SIDA (Sweden), as well as the World Bank Group (Bank) and the International Monetary Fund (Fund).

In early 2007, the initiative was extended through 2012 in a Phase II with a replenishment of funding from its original donors and an anticipated campaign to raise additional funds from other donors and partners.  In Phase II, the Bank has agreed to serve as the secretariat of the partnership and to manage the trust fund on behalf of the donors through a Program Management Unit (PMU) based in the Bank in Washington, DC.  The Bank seeks a qualified Senior Financial Sector Specialist to work in the unit and assist with managing and administering technical assistance projects.

Activities

With funding of approximately $100 million, FIRST has thus far funded more than 250 technical assistance projects for recipients in low- and middle-income countries for capacity building and policy development in the areas of financial sector regulation, supervision, and development.  Primary areas of focus include: strengthening supervisory institutions, providing financial sector reform policy advice, drafting and reviewing legislation, regulations and supervisory policies, and providing training.

FIRST is designed to respond quickly to requests for assistance, to provide access to first-rate worldwide expertise, and to be flexible in the types and methods of TA provided.  An important objective of FIRST is to support national authorities in their efforts to adhere to internationally agreed standards and codes for financial systems and underlying enabling environments, as assessed by the joint Bank/Fund Financial Sector Assessment Program (FSAP), and through Reports on Standards and Codes (ROSCs) prepared by the Bank, Fund and others.  FIRST is also tasked with identifying and disseminating good practices in the areas of financial sector reform and TA.  

The Senior Financial Sector Specialist will play an important role as part of the team in the FIRST PMU.  The successful candidate will be a dynamic individual with excellent knowledge of financial sector development policy issues and solid operational skills.  Extensive experience with financial sector TA projects is highly desired.

Duties and Accountabilities

The Senior Financial Sector Specialist will report administratively to the FIRST Program Manager.  Principal duties and accountabilities are:

(i)	To identify, select, prioritize and dialogue about emerging policy issues relevant to financial sector development and to disseminate policy options and recommendations. 

(ii)	To identify opportunities for FIRST projects by responding to requests for assistance from applicants and working with the Bank, the Fund and other multilateral and bilateral agencies to develop project proposals for FIRST on behalf of eligible applicants. 

The primary focus of this work will be on follow-up on TA recommendations in Bank/Fund Financial Sector Assessment Programs (FSAPs).

(iii)	To help ensure the appropriate design of TA projects by facilitating expert peer review and conducting consultations on project proposals.

(iv)	Working with other financial sector specialists and technical experts to manage and administer FIRST TA projects carried out by private consultants, as well as by technical experts from the Bank and the Fund.  This would include, but not be limited to, providing assistance on the following tasks:

•	Procuring consultants and assisting with preparation of TORS, selection, and hiring of consultants.

•	Developing project strategies and coordinating with both country counterparts and consultants to ensure the smooth delivery of  technical assistance.

•	Administering consultant contracts, including facilitating payment of consultant fees and expenses.

•	Monitoring project timetables and deliverables.

•	Reporting on project outputs and results to the PMU.

(v)	To liaise with the Bank and Fund, including ascertaining the needs of potential beneficiaries as identified via the FSAP and ROSC programs.

(vi)	To work with the Program Manager and other PMU staff to maintain systems for monitoring and evaluating the impact of FIRST activities.

(vii)	To help identify and to promote best practices in financial sector reform and the delivery of TA.  This would include preparing a variety of case studies, briefing notes, and content for the FIRST website.

Selection Criteria

(i)	A minimum of 8-10 years work experience in financial sector and economic development.

(ii)	A Masters Degree (or equivalent) in finance, economics, or a related discipline.

(iii)	Strong technical qualifications and/or knowledge of major aspects of the financial services industry and financial sector development.

(iv)	Experience working with multi-disciplinary teams of professional staff in an international environment.

(v)	Knowledge of Bank operational processes and familiarity with Bank lending and analytic products.

(vi)	Experience with Bank/Fund FSAPs is required and experience with B-ROSCs (Reports on Standards and Codes) is an advantage.

(vii)	A good understanding of the role, objectives and activities of official development agencies and international financial institutions and experience working with senior officials and government representatives.

(viii)	Strong writing, problem solving, communication, and interpersonal skills.

(ix)	Fluency in English is essential, and capacity in other widely used languages is an advantage.

The World Bank Group is committed to achieving diversity in terms of gender, nationality, culture and educational background.  Individuals with disabilities are equally encouraged to apply.  All applications will be treated in the strictest confidence.

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