UNCDF Jobs - 29562- Legal Consultant for the Central Bank of Timor-Les

Legal Consultant for the Central Bank of Timor-Leste

Advertised on behalf of

UNCDF

Location :

Dili, Timor Leste

Type of Contract :

Individual Contract

Starting Date :

02-Jul-2012

Application Deadline :

02-May-12 (Midnight New York, USA)

Post Level :

International Consultant

Duration of Initial Contract :

9 Months

Languages Required :

English

Expected Duration of Assignment :

9 Months

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Background

The inclusive financial sector of Timor-Leste’s financial system is becoming increasingly complex. Existing industries such as remittances are growing in size, there are plans to introduce new types of financial services such as micro-insurance and branchless banking, and many important players in the inclusive financial sector, particularly Moris Rasik, Tuba Rei Metin and Banco Nacional Commercial de Timor-Leste, are increasing their scale and range of operations.
This growing complexity means that the Central Bank of Timor-Leste faces an increasing challenge in regulating and supervising the inclusive financial sector. The Central Bank will need to draft regulation in relation to a variety of areas, including micro-insurance, consumer protection relating to banking, and branchless banking and mobile banking. This task will also require the Central Bank to ensure that new regulation does not contradict existing legislation that relates to inclusive finance, and the financial system more generally.
The Central Bank will also be required to develop enough legal and regulatory knowledge and skills to supervise these new industries and institutions. In addition, the Central Bank will need to use such knowledge and skills to work effectively with the donors and consultants who will provide progressively more complex and technical advice on new inclusive financial industries and systems.
The Governor of the Central Bank has requested that a legal advisor be provided for twelve months in order to help with each of these challenges, and provide legal and regulatory training to staff of the Central Bank, focusing on the inclusive financial sector.

Duties and Responsibilities

Technical legal advice about new inclusive finance regulation, focusing initially on branchless banking/mobile banking (Regulation);
Consumer protection;
Complementing ODTI regulation;
Prepare a road map for 3 to 5 years time that reflect BCTL’s view on financial inclusion and financial education program;
Assist in developing a microinsurance legal framework;
Legal and regulatory training to staff, focusing on areas related to inclusive finance (Regulatory Training).

Competencies

Ability to communicate and function effectively in an international, multicultural environment.
Must be fluent in both spoken and written English. Excellent writing skills in English are necessary.
Fluency in Portuguese is an asset.
Timor Leste and/or regional experience is an asset.

Required Skills and Experience

Master degree in Law and Finance
Minimum of 3 to 5 years of relevant professional experience as a legal advisor for the financial industry or directly with a regulator, preferably on regulation compliance.
Experience working directly with financial regulators and supervisors on specialized regimes for microfinance