Recruitment At Palladium 2017

Posted on :

27 Jul, 2017

Category :

Administrative Jobs in Ghana

Palladium is a global leader in the design, development and delivery of Positive Impact – the intentional creation of enduring social and economic value. We work with foundations, investors, governments, corporations, communities and civil society to formulate strategies and implement solutions that generate lasting social, environmental and financial benefits.

For the past 50 years, we have been making Positive Impact possible. With a team of more than 2,500 employees operating in 90 plus countries and a global network of more than 35,000 technical experts, Palladium has improved – and is committed to continuing to improve – economies, societies and most importantly, people’s lives.

Palladium is a child-safe organisation, and screens applicants for suitability to work with children. We also provide equal employment to all participants and employees without regard to race, color, religion, gender, age, disability, sexual orientation, veteran or marital status.

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:

  1. Strengthen the power sector; and
  2. Increase access to credit (especially for the SME sector) and strengthen the financial system.

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:

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  1. Reduce government engagement in the banking sector;
  2. Strengthen Financial Sector regulation and supervision;
  3. Develop the Financial Sector infrastructure;
  4. Broaden and deepen the financial sector; and
  5. Encourage development finance and support SME access to finance.

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:

  1. Implementation and guidance as follow up activities related to the recently (USAID-consultant) drafted manuals and practices, including risk based supervision (RBS) and surveillance;
  2. Human Resource (HR) assessment and manual; and
  3. IT assessment for the SEC, Ghana Stock Exchange (GSE), and Central Securities Depository (CSD).

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:

  1. Finalizing RBS implementation through this pilot program to automate electronic RBS data electronic filing, maintenance and analysis as proposed by prior STTA,
  2. Creating an RBS Database (RBSD) Pilot intended to produce a working, interim RBSD ?proof of concept? solution that will be rolled-out, post-pilot, to broker dealers and investment advisory firms on a risk-based priority basis,
  3. Identifying business, technical, software, and equipment requirements, and estimating costs to integrate the working RBSD Solution with a future-state Electronic Document Management (EDM) system,
  4. Supporting implementation of the proposed RBS framework within the SEC?s regulatory and enforcement mandate by implementing the SEC?s RBS recommended activities, and
  5. Building SEC staff and stakeholder capacity to undertake and implement the RBS framework for a more efficient approach to the conduct of market supervision, surveillance, inspections and enforcement.

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:

  1. The STTA consultants shall assist the SEC in identification and collection of electronic RBS data, reports, information as well as the electronic organization to build and maintain the RBS database (RBSD) for each licensed and approved individual, firm, and product within the mandate of the SEC Ghana; this will include the review and understanding of the 2015 RBS BD/IA Manual recommendations and the 2017 RBS Information Technology (IT) Assessment of the STTA capital markets and IT experts (REG/IT);
  2. The above activities shall also entail working with licensed individuals, entities, and issues to ensure their understanding in what is required for electronic submission to the SEC (REG/IT);
  3. Processes, modalities and software will be developed and tested to electronically collect, maintain, and provide SEC access to broker dealer/investment advisory RBS data (IT/REG);
  4. Electronic forms will be identified, created and tested as validation tools for use with RBSD (IT/REG);
  5. Electronic, form-based, submission processes will be identified, created, and tested that securely capture and reliably transmit broker dealer/investment advisory firm RBS data (REG/IT);
  6. Web-based EDM/portal software will be identified and developed to facilitate the filing, maintenance, retrieval and sharing of broker dealer/investment advisory firm RBS data within the SEC (IT/REG);
  7. Data analytic, visualization and reporting tools will be identified and tested to facilitate data analysis, and development of dashboards, alerts and reports (IT/REG); and
  8. The identification of business, technical, software, and equipment requirements, as well as estimated costs required for full post-RBSD Pilot implementation phases to minimize RBSD Pilot development costs to the extent possible using existing equipment resources (IT/REG).

Deliverables
The Consultants will produce the following reports and deliverables:

  1. A working, interim pilot RBSD Solution designed to electronically collect, maintain, and provide access to RBS data acquired from broker dealers and investment advisory firms (IT/REG);
  2. Recommend data, reports, and submissions required from other licensed entities and individuals; and issuers of listed securities on the Ghana capital markets (REG/IT);
  3. Conduct a working pilot test to capture basic broker dealer/investment advisory firm compliance and Anti-Money Laundering Reporting Officer (AMLRO) Officer contact data consistent with recommendations made in the 2017 RBS IT Assessment (IT/REG);
  4. Develop e-Forms to capture Core RBS Data Metrics, to include:
    • The development of more advanced, complex e-Forms, and data capture methods will be left for future post-RBSD Pilot phases (IT/REG).
  5. Implement RBSD data analytic, visualization and reporting tools (IT/REG);
  6. Develop basic RBSD data analytics, dashboards, alerts, and reports for Core RBS Data Metrics (REG/IT);
  7. The identification of the business, technical, software, equipment requirements, and estimated costs required to:
    • Roll-out the RBSD Solution to all broker dealers and investment advisory firms (REG/IT);
    • Integrate the RBSD Solution with a future-state EDM system (IT/REG).
  8. The identification of RBSD Solution training objectives, requirements, and user documentation requirements for SEC staff, broker dealers, and investment advisory firms (REG/IT);
  9. A RBSD Solution ?roll-out? strategy plan — identifying and sequencing necessary implementation activities, including technology upgrades, training, and testing before ?going live.? Broker dealers and investment advisory firms should be brought online in manageable sized groups, and prioritized using RBS factors, e.g., firm activity, number of client accounts, assets under management, etc. (REG/IT);

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:

  • Executive Summary
  • Overview of Findings/Observations/Recommendations
  • Summary of Tasks/Results Achieved
  • Summary of All Trainings and Deliverables Produced (attached also as Exhibits)
  • Identified Challenges to SOW Execution
  • Lessons Learned
  • The Consultant(s) will be responsible for responding to comments and edits from USAID and the SEC, and incorporating same into the Final Report with support from USAID FinGAP. The consultants shall determine who is responsible for what section; delivery of Final Report shall be a singular report. The Regulatory Consultant has overall responsibility of this Final Report as well as for this SOW; the Regulatory Consultant is the Team Leader.

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:

  • MBA
  • 10 years + of International Capital Markets Regulatory experience (outside of Africa); preferably international;
  • 5 years + of experience working in Africa
  • 5 years + of work in the capital markets, outside of regulation?desired


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