Posted on :
27 Jul, 2017
27 Jul, 2017
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Job Description
Job Title: Capital Markets Advisor, Regulations of SEC
Project Overview and Role
Background
The USAID Financing Ghanaian Agriculture Project (USAID FinGAP) addresses a key constraint to the development of commercial agriculture and obtaining full food security in Ghana, access to finance necessary to enable investment in agricultural value chains. USAID FinGAP uses a comprehensive approach to facilitate agriculture related investment, engaging a broad range of Ghanaian Financial Institutions (banks, private equity firms, leasing companies, investment funds, etc.) in providing agricultural oriented financing, in partnership with strategic investors and buyers of rice, maize and soya in Northern Ghana. USAID FinGAP will also facilitate investment in the agriculture sector in Ghana that will complement other Government of Ghana (GOG) and donor programs aimed at expanding commercial agriculture.
Since being selected as a Partnership for Growth (PFG) country, the Government of Ghana (GOG) has engaged in extensive analysis and consultations with the U. S. Government (USG) in developing a Joint Country Action Plan (JCAP) to assist Ghana to sustain and broaden its economic growth by addressing two key constraints that inhibit private sector development and participation in the Ghanaian economy ? an unreliable and inadequate supply of electric power and lack of access to credit.
The two main goals of the PFG JCAP are to:
A Joint Steering Committee, composed of members of the GOG and the USG, oversees PFG activities and monitors progress against the JCAP. Technical Working Groups (one on credit and one on power) organized by lead GOG and USG agencies are responsible for developing and implementing specific action plans and strategies to meet the goals set out in the JCAP. USAID is the USG agency primarily responsible for oversight of these Technical Working Groups.
The PFG Technical Working Group on Increasing Access to Credit (also known as the PFG ?Access to Credit Team?) has five overall goals:
In December 2015, the Securities and Exchange Commission of Ghana (SEC), requested USAID support in furtherance of Goal 2 above, Strengthening the Financial Sector Regulation and Supervision as well as in other areas of IT and HR. By default, Goals 3-5 above were positively facilitated through this support. Specifically, the SEC requested:
The Human Resource assessment has been completed, and the IT assessment is almost complete.
This last SOW was completed earlier this year, mostly related to Risk Based Supervision, Phase II.
This current Scope of Work focuses on the final phase in developing Risk Based Supervision for the SEC, Phase III, rolling out a pilot program to enhance the regulatory capabilities of the SEC. This will entail the engagement of an international capital markets regulatory expert (REG) as well as an international IT expert. The REG shall have the overall responsibility for completion of this SOW and Final Report, and deemed the ?Team Leader?. (NOTE: in a separate SOW, a local IT consultant may be called upon to be added to this overall assignment to better ensure sustainability of this work if it is determined that the current IT support of the SEC does not have the necessary capacity.)
Responsibilities
Objective
The objective of this SOW is to assist the GOG in reaching the JCAP-PFG goal ?to increase access to credit (especially for the SME sector) and strengthen the financial system.? The accomplishment of activities and deliverables for this SOW will further strengthen SEC securities market regulation and enforcement by promoting internationally recognized best practices, and enable improved protection of investors and other stakeholders. This SOW is the final phase of the RBS roll out and shall assist the GOG by:
To this end, an international capital market regulatory consultant along with either an international or local IT expert will be recruited to provide short-term technical assistance (STTA) to the GOG in pursuit of accomplishing the PFG goal of strengthening the financial system in Ghana.
Activities and Tasks (Note that this SOW calls for 2 international consultants, working together on the regulatory component (REG) and on the IT component; lead consultant is indicated first; secondary consultant is indicated second)Activities of the STTA consultants shall include:
Deliverables
The Consultants will produce the following reports and deliverables:
A Draft and a Final Report on RBS Pilot Activities, together with physical deliverables. The Draft Report shall be submitted to USAID FinGAP two weeks prior to the final day of the assignment; this report shall be reviewed by USAID FinGAP who may seek review and comments from other stakeholders in the capital markets. The Final Report shall be edited to include and address edits and comments on the Draft Report. Both Reports shall include:
Post of Duty
The international consultants will work from his/her home office for trip preparation purposes, up to 5 LOE days (approx.), and will undertake up to three roundtrips under this scope of work to Ghana, where he/she will work from the offices of the SEC, and otherwise, from the USAID FinGAP office in Accra.
Period of Performance
Up to 85 LOE days, up to 3 trips, for each of the international consultants, from approximately August 15, 2017 to January 15, 2017. (If and when a local IT consultant is added in a separate SOW, LOE is estimated at 45 days, i.e., the last 2 months during the same period. This addition of a local IT expert will add value to the sustainability of this work.)
Requirements
Minimal Qualifications: