United Nations (UN) – Chief of Section | Innovative Finance & Capital Markets Section (P5)

Job Title Field: Chief of Section | Innovative Finance & Capital Markets Section (P5)

Job Description & Summary Field:

Established by the Economic and Social Council (ECOSOC) of the United Nations (UN) in 1958 as one of the UN’s five regional commissions, ECA’s mandate is to promote the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa’s development. Made up of 54 member States, and playing a dual role as a regional arm of the UN and as a key component of the African institutional landscape, ECA is well positioned to make unique contributions to address the Continent’s development challenges. The strategic objective of ECA is framed around delivering ideas and actions for an empowered, inclusive and transformed Africa in the framework of the 2030 Agenda for Sustainable Development and Agenda 2063 of the African Union through its three core functions, namely, its function as a think tank, its convening function and its operational function.

This position is located in the newly constituted Private Sector Development and Finance Division (PSDFD) at the United Nations Economic Commission for Africa (UNECA). The Incumbent works under the direct supervision of the Director of Private Sector Development and Finance Division (PSDFD) and overall supervision of the Deputy Executive Secretary – Programme.

Within delegated authority, the Chief of Innovative Finance & Capital Markets Section will be responsible for the following duties:

• Provides advice/guidance on the development of capital markets in the region including the development of commodity and stock exchanges;

• Leads/provides guidance on the development, implementation and enforcement of legal and regulatory framework for capital markets development at a regional and member states level. Advice should build on international regulations. Given the move towards more integrated markets, a significant share of the work will be to promote supervisory and regulatory convergence and supervise specific systemic financial entities;

• Advices on development and management of sovereign bond issuances and work towards the development of more corporate bond issuances. Work to establish local rating agencies on the continent and ensure corporate compliance to legal regulations. Deepen involvement of securities, pensions and insurance sector contribution to market development;

• Works to develop innovative asset classes to help finance human, and physical infrastructure;

• On the banking sector, provide guidance on conducting supervision, advice on Basel convergence and on regulation to accelerate financial inclusion especially for disadvantaged groups of society using new technologies. Draft and review compliance with standards for regional, continental regulations;

• Develops/maintains close working relationship with continental and international supervisory bodies to ensure international legislation is consistent with continental aspirations;

• Works closely with ECA’s African Centre for Statistics to develop a database of on-time financial information to ensure accurate data availability for policy and decision making especially regarding systemic markets and agencies;

• Provides policy guidance to the Director, on conceptual strategy development and management of the implementation of overall strategies and intra and inter-divisional/departmental policies and procedures;

• Plans and oversees the management of activities undertaken by the Section; ensures that substantive work programmes and programmed activities are carried out in a timely fashion, coordinating diverse projects in the Section, and, in liaison with other organizations of the United Nations System, donors and agencies as appropriate;

• Manages, supervises and carries out the work programme of the Section under his/her responsibility. Co-ordinates the work carried out by the Section; provides programmatic and substantive reviews of drafts prepared by others;

• Provides substantive input in the preparation of position papers and reports for presentation to intergovernmental bodies such as the Advisory Committee on Administrative and Budget Questions, Committee for Programme Coordination, Economic and Social Council, the General Assembly and other policy-making organs, as appropriate;

• Contributes to the reporting to intergovernmental bodies on budget/programme performance or on programmatic/ substantive issues, as appropriate, particularly those presented in biannual and/or annual reports;

• Ensures that the outputs produced by the Section maintain high-quality standards; that reports are clear, objective and based on comprehensive data. Ensures that all outputs produced by the Section under his/her supervision meet required standards before completion to ensure they comply with the relevant mandates;

• Prepares inputs for the work programme of the Division, determining priorities, and allocating resources for the completion of outputs and their timely delivery;

• Carries out programmatic/administrative tasks necessary for the functioning of the Unit/Section, including preparation of budgets, assigning and monitoring of performance parameters and critical indicators, reporting on budget/programme performance, preparation of inputs for results-based budgeting, evaluation of staff performance (PAS), interviews of candidates for job openings and evaluation of candidates;

• Recruits staff for the Section taking due account geographical and gender balance and other institutional values;

• Manages, guides, develops and trains staff under his/her supervision;

• Fosters teamwork and communication among staff in the Section and across organizational boundaries;

• Represents the Organization at inter-agency meetings, seminars, etc. on substantive-related issues;

• Participates in international, regional or national meetings and provides programmatic/substantive expertise on an issue, or hold programmatic/substantive and organizational discussions with representatives of other institutions;

The job requirements and additional information on this job opening can be found on the ECA website at

www.uneca.org/careers

The United Nations Secretariat is committed to promoting diversity and gender equality. Women candidates are strongly encouraged to apply for these posts.

For any queries, please email [email protected]

Job Summary Field: This position is located in the newly constituted Private Sector Development and Finance Division (PSDFD) at the United Nations Economic Commission for Africa (UNECA).

Locations Field: Addis Ababa, Ethiopia

Location Description Field: Addis Ababa, Ethiopia

Salary Description Field: ECA offers a competitive compensation package. Learn more at uneca.org/compensation

Applications Field:  www.uneca.org/careers

Alternate Recruiter Name Field: Private Sector Development and Finance Division (PSDFD) at The Economic Commission for Africa