Deputy Director - B04 - Monetary and Capital Markets Department

International Monetary Fund
Washington, DC
May 23, 2022
May 27, 2022
Full Time
Work for the IMF. Work for the World.The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) has an opening for a Deputy Director in its Immediate Office. MCM's mission is to provide intellectual leadership and expertise in the IMF's work on financial sector surveillance, monetary and macroprudential policies, financial supervision and regulation, debt management and capital markets. In its financial sector surveillance role, MCM carries out assessments of global financial stability risks and their implications for the IMF's member countries; evaluations of the soundness of individual countries' financial systems (including linkages to the macro economy, and effectiveness of supervisory oversight), as well as the enhancement of the IMF's capability for early identification, prevention, and mitigation of financial crises. MCM also supports capacity-building in member countries-including in emerging market and low-income economies-particularly with regard to the supervision and regulation of financial systems, central banking, monetary and exchange rate regimes, digital money, sovereign debt management and debt market development. To effectively deliver these services, MCM collaborates closely with regional and multilateral organizations, and financial sector standard-setters.As a member of MCM's senior management team, the Deputy Director is expected to assist the Director / Financial Counsellor in the management and supervision of the work of the department, and to provide leadership for MCM's work on financial supervision and regulation, and of its capacity development strategy and administration. He/she will ensure the high quality and visibility of the department's work in these areas, as well as its relevance to multilateral and bilateral surveillance, international policy development and standard setting, and capacity development. In doing so, he/she will collaborate closely with other divisions in MCM and departments in the IMF and will help maintain the department's broad-based outreach to national and multilateral institutions dealing with similar functions (such as the World Bank, central banks and supervisory agencies, the Financial Stability Board (FSB), and other standard setting bodies and international forums).The Deputy Director will be responsible for supervising the work of two divisions:The Financial Supervision and Regulation Division (FR) leads MCM's policy analysis, technical advice, and standards assessments in the areas of prudential and conduct-of-business regulation and supervision of banks, insurers, and other nonbank intermediaries and markets, including in the areas of fintech, cybersecurity, and climate-related risks. Key outputs of the division include: (i) assessments of financial regulatory and supervisory frameworks; (ii) impact analysis of regulatory reforms and their implementation; (iii) policy and technical advice to country authorities; (iv) preparation and dissemination of policy positions both within the Fund and externally; (v) research and preparation of policy papers; and (vi) backstopping of long-term technical assistance experts. In doing so, the Division works with the World Bank, FSB, international standard setting bodies and national regulatory and supervisory agencies on the design and implementation of financial supervision and regulation policies and related institutional frameworks. The FR division comprises primarily of specialized mid-career experts drawn from central banks and supervisory agencies, working with a few fungible macroeconomists.The Technical Assistance Strategy Division (TA) is responsible for developing, disseminating and ensuring the smooth implementation of MCM's CD strategy, in conjunction with relevant area departments. The division manages the Financial Sector Stability Review (FSSR) program, a donor funded program that underpins medium-term CD delivery. The division designs and implements country TA strategies, following up on needs identified in FSAPs, FSSRs, Article IVs, and program countries; contributes to development of Fund CD policy and operations, including CDMAP; undertakes studies of issues related to TA; prepares guidelines for TA advice; ensures quality and consistency in MCM's TA outputs; and supports the assessment, monitoring, and evaluation and dissemination of MCM TA. The division is responsible for all operational details of CD administration including medium-term work program (MTW) and manages MCM's long-term expert program in coordination with other MCM Divisions and HRD; MCMs internal TA relationship with other MCM Divisions and Regional Advisers; Fund Departments and structures including ICD, Regional Training and Technical Assistance Centers; the Committee for Capacity Building (CCB); as well as MCMs external TA relationships with the World Bank, other providers, donors and Trust Funds.The successful candidate should have:An advanced degree in finance, economics, business, or other relevant field, and professional experience at a senior level internally in the Fund and/or externally in a central bank or supervisory agency.A reputation for strong intellectual leadership and implementation, demonstrated through the delivery of innovative results in senior positions responsible for complex agendas.Demonstrated capacity in strategic and analytical thinking and sound policy judgment and experience.A deep understanding of financial sector regulatory and supervisory issues and their relevance to financial stability.A passion for capacity development.Strong leadership and management skills, both in terms of organizing, delegating and planning, as well as attracting, motivating, developing and coaching staff.Excellent diplomatic and partnership skills; and ability to build/maintain relationships internally and externally.Excellent oral and written communication skills.Note: B4 vacancies are open to all B3 staff who meet the eligibility requirements. B3 applicants must include their Individual Development Plan (IDP) with other required documentation in applications for B4 positions.Department:MCMAI Monetary and Capital Markets Dept. Immediate OfficeHiring For: B04The IMF is committed to achieving a diverse staff, including age, creed, culture, disability, educational background, ethnicity, gender, gender expression, nationality, race, religion and beliefs, and sexual orientation.