Reserve Bank of Malawi Jobs Nov 2013

PROJECT: Financial Sector Technical Assistance Project (FSTAP)

TITLE: Banking Supervision Resident Advisor

NOTICE:

Project ID: P122616

Borrower/Bid No: EOI - FSTAP

RESERVE BANK OF MALAWI

FINANCIAL SECTOR TECHNICAL ASSISTANCE PROJECT (FSTAP)

Request for Expressions of Interest

For

Banking Supervision Resident Advisor

1.0 BACKGROUND

This request for Expressions of Interest follows the General Procurement Notice for this project that appeared in the UN Development Business, issue no. 819 of 15 March 2012.

The Government of the Republic of Malawi has received a credit from the International Development Agency (IDA) of the World Bank for the Financial Sector Technical Assistance Project (FSTAP) which is being implemented by the Reserve Bank of Malawi (RBM) and intends to apply part of the proceeds of this credit toward eligible costs for the recruitment of a Banking Supervision Resident Advisor.

2.0 OBJECTIVE OF THE ASSIGNMENT

The recent problems in the financial sector in Malawi have highlighted the need for strengthened supervision capacity and enhance supervisory practices, as well as more robust problem bank resolution and financial stability analysis capacities within the Reserve Bank of Malawi. The Resident Advisor will build upon and operationalize recent support provided by the International Monetary Fund's (IMF's) MCM Department and AFRITAC East as well as the problem bank resolution work supported under FSTAP.

3.0 SCOPE OF WORK

Specifically, the Advisor will be expected to:

1. Support the Banking Supervision Department of Reserve Bank of Malawi in reviewing various prudential Directives and Regulations and where need be; formulation of new Directives/Regulations;
2. Provide on the job training in off-site analysis and on-site examination of distressed banks; and recommend enhancements to on-site examination reports and practices;
3. Support the Banking Supervision Department of Reserve Bank of Malawi in implementing consolidated supervision;
4. Support the Banking Supervision Department of Reserve Bank of Malawi in implementing supervision, eventually supported by macro-financial/financial stability analysis conducted in collaboration with the Research Department;
5. Assist the Banking Supervision Department of Reserve Bank of Malawi in diagnostic assessment of problem banks and recommend additional areas of regulatory reporting by banks;
6. Support the Banking Supervision Department of Reserve Bank of Malawi in understanding operational modalities for implementing various problem bank resolution options;
7. Conduct in house training/presentations on various supervisory areas.

4.0 DELIVERABLES

It is expected that at the end of the Technical Assistance period; the following deliverables will be accomplished:

(i) Updated regulatory framework (Directives and Regulations);
(ii) Enhanced off-site analysis reports and on-site examinations, including of distressed banks;
(iii) Revised consolidated supervision call report;
(iv) Improved supervisory practices and culture in the Department;
(v) Capacity building of Examiners in various areas.
(vi) Foundation for enhanced supervisory framework that takes account of macro-financial risks;

The consultant is expected to submit a regular quarterly report detailing progress on the above deliverables. Implementation of the recommended actions that will be outlined in this report will be the joint responsibility of both the Advisor and Reserve Bank of Malawi Management.

5.0 EXPRESSIONS OF INTEREST 

The Reserve Bank of Malawi (Financial Sector Technical Assistance Project) now invites individual consultants to indicate their interests in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services.

The Advisor should have Economics/Business/financial sector related qualification and background with at least 8 years of demonstrable experience in Banking Supervision/resolution and other related areas.

6.0 EXPECTED DURATION

The Advisor is expected to be with the Banking Supervision Department of Reserve Bank of Malawi for a period of not more than 24 months. The Advisor's performance will be assessed at six monthly intervals and this assessment will form the basis for subsequent renewal of the Advisor's contract.

7.0 SELECTION OF CONSULTANT 

The consultant will be selected in accordance with selection of Individual Consultants procedures set out in the World Bank's Guidelines: Selection and Employment of Consultants by World Bank Borrowers, January 2011. Further information can be obtained at the address at paragraph 8.1 below during office hours (8.00hours to 16.00hours Malawi time)

8.0 SUBMISSION OF EXPRESSIONS OF INTEREST

Expressions of Interest must be delivered in a written form through electronic mail (e-mail) to the address at paragraph 8.2 below by Friday, 22nd November 2013 at 17.00hours Malawi time.

8.1 ADDRESS FOR FURTHER INFORMATION

The Project Manager
Financial Sector Technical Assistance Project (FSTAP)
Reserve Bank of Malawi
P.O Box 30063.
Lilongwe 3, Malawi.
Tel: +265 1 770 600/924.
E-mail: gsalima@fstap.org and mmwale@fstap.org 

8.2 ADDRESS FOR SUBMISSION OF THE EXPRESSIONS OF INTEREST

The Project Manager
Financial Sector Technical Assistance Project (FSTAP)
Reserve Bank of Malawi
P.O Box 30063.
Lilongwe 3, Malawi. 
E-mail: mmwale@fstap.org and gsalima@fstap.org and fstap@fstap.org