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 infrastructures; (v) Development of a regional bond market; and (vi) Capacity building.
The East African Community Secretariat intends to use part of the funding to recruit a team of officers to oversee the implementation of the Capital Markets Infrastructure (CMI) for the EAC region.
2.0 MAIN PURPOSE OF THE POSITION
The EAC FSDRP is seeking to put in place a Capital Markets Infrastructure that will link all the National Trading Platforms within the EAC region with the aim of achieving the above goal. That is, to create a single market for securities within the region. This will also contribute to the realization of the Common Market Protocol, by facilitating the attainment of the four freedoms i.e. movement of goods, labour, services and capital.
The infrastructure is envisaged to link all the Automatic Trading Systems (ATS) and the Central Securities Depositories (CSD in the EAC region. The overall objective is to allow a seamless movement of securities and payments between the different EAC Capital Markets, compatible at the regional level, in order to enable the creation of a regional financial market in the EAC region.
3.0 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 CMI operations. The Business Operations Specialist's specific responsibilities will be as follows:
1. Managing and providing support for the Capital Markets Infrastructure (CMI);
2. Coordinating and overseeing smooth operations of the CMI;
3. Ensuring effective management of the CMI Help Desk; Ensuring compliance to the CMI Operational rules and procedures by all participants;
4. Managing business operations continuity requests for the CMI;
5. Coordinating the CMI IT support with IT Specialist and the CMI System vendors;
6. Ensuring CMI Operational safety and resilience
7. Promoting the Capital Markets infrastructure integration agenda; and
8. Providing operational guidance on any changes required to be made to the CMI.
The Business Operations Specialist will be required to;
i. Provide periodic reports on the progress of the CMI during implementation process;
ii. Coordinate the activities of all the participants to the CMI during the CMI implementation and after implementation;
iii. Together with the Project Manager during the CMI implementation, design the project implementation schedule and ensure all the stakeholders abide to it;
iv. Design the Project Communication Plan as defined in the Project Implementation Plan and ensuring that all stakeholders observe it;
v. Continually updating the operational procedures; and
vi. Identify risks and what could be done to mitigate them.
4.0 QUALIFICATIONS AND EXPERIENCE
A Master's degree or equivalent in Economics, Business Administration, Finance, Computer Science and/or related fields with a first University degree in Economics, Business, Finance, Statistics, commerce or related fields and specialized experience. A professional qualification in related fields will be an added advantage.
At least 5 years of relevant experience, at middle level management or above, working in the Central Bank CSD, Capital Markets business operations; or Central Securities Depositories. Experience in implementing Capital Markets Systems will be an added advantage.
5.0 SKILLS AND COMPETENCIES
The person should have strong knowledge and experience in implementing Capital Markets Systems. In addition, knowledge in business reengineering and processes will be required.
6.0 TERMS AND CONDITIONS OF SERVICE
This is an EAC-FSDRP project position supported by Donor Funds, and is a non-established position for which contract terms are limited to the period of the CMI project implementation, and may be renewed subject to performance of the person during the implementation period and go live environment.
The Business Operations Analyst will be recruited by the EAC Secretariat for an initial period of ten (10) months and the contract may be renewed contingent upon project budgeting and a satisfactory performance evaluation during the period.
Attractive consolidated remuneration packages for fixed contract positions will be paid in accordance with the EAC-FSDRP budget.
The Business Operations Analyst will report to the EAC-FSDRP Technical Project Manager.
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 5 EAC Close
P.O. Box 1096 Arusha – Tanzania.
Fax No: 007 27 2502455/2504481 E-mail: eac@eachq.org
TO BE RECEIVED NOT LATER THAN 25 SEPTEMBER, 2014 AT 17:00 ARUSHA TIME
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