UNDP Jobs - 63651- Consultant - SME Financing Advisor to the Central

Consultant - SME Financing Advisor to the Central Bank of Timor-Leste

Location :

Dili, Timor Leste

Type of Contract :

Individual Contract

Starting Date :

Application Deadline :

12-Feb-16 (Midnight New York, USA)

Post Level :

International Consultant

Duration of Initial Contract :

60 Days

Languages Required :

English

Expected Duration of Assignment :

60 Days

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

Over the past decade, Timor-Leste has created the preconditions for successful development. It has emerged from a crisis of internal violence and political instability in 2006-2007, built a coalition government, and increased tangible services for the population. Thus it has achieved hard-won political stability and built confidence in the state. Although still classified as a Least Developed Country (LDC) Timor-Leste achieved lower middle-income status in 2011. Nonetheless, poverty remains persistently high. While a greater proportion of poor reside in rural areas, the high rate of rural to urban migration underscores the need to address the emerging issue of urban poverty. With 60 percent of the population under the age of 25, Timor-Leste is one of the youngest countries in the world. To create job opportunities for youth, sustain inclusive growth, and prepare for a future of potentially declining natural resource returns, Timor-Leste needs to diversify its economy and sources of revenue, elevate the quality of health and education services, and equip the population with viable skills. There is widespread consensus among government and development partners that efforts to put Timor-Leste on a sustainable development trajectory must be underpinned by capable institutions with a strong and consistent focus on policies that nurture private investment.

Small and Medium Enterprises (SMEs) play a key role in transition and developing countries. They typically account for more than 90% of all firms outside the agricultural sector, constitute a major source of employment and generate significant domestic and export earnings. As such, SME development emerges as a key instrument in poverty reduction efforts. The Government of Timor-Leste has retained a firm strategic commitment to a market-led economy with the private sector as one of the primary engines of growth. However, the nascent private sector of Timor-Leste, especially the SME sector, has so far been unable to spur sufficient economic development for the rapidly increasing population. Based on evidence, access to longer-term investment finance has been identified as a key constraint to growth. On the supply side, the financial service providers note that there are very few bankable proposals from enterprises, and that the market risks[1] are too high for longer-term lending. The constraints on the demand and supply sides are exacerbated by weaknesses in the enabling environment (financial sector).

Against this background, UNDP Timor-Leste and the Central Bank of Timor-Leste seek a SMEs Financing Advisor working directly with the Governor of the Central Bank.

Duties and Responsibilities

The SMEs Financing Advisor will provide the following expertise:

Review the existing study on SMEs financing and agriculture finance undertaken by the Central Bank and advice on the appropriate institutional and regulatory framework for both schemes;
By drawing on international experience, develop policies and measures that strengthen the regulatory environment around SME financing;
Support the senior management and the technical team of the Central Bank to develop, oversee and promote SME financing in Timor-Leste;
Act as an advisor to the Central Bank Governor on issues of SME financing;
Based on an in depth assessment and in line with Timor-Leste Strategic Development Plan, 2011-2030, develop an institutional and regulatory framework for SME financing;
Provide clear and precise advice to the State Bank Governor that facilitates decision-making for SME financing;
Through drafting memos and policy briefs, suggest feasible policies and measures to overcome existing constraints to SME financing, in effect strengthening the current regulatory and institutional set-up for SME financing; and
Suggest platforms, forums, and conferences, which Timor-Leste would benefit from in the context of SME financing.

Competencies

Excellent writing and presentation skills;
Demonstrated analytical skills;
Proven great communications skills with high level officials; and
Ability to work under pressure and meet tight deadlines.

Required Skills and Experience

Education:

MBA, CFA, JD or an advanced degree in a relevant field from a recognized university/institution.

Experience:

At least 10 years of experience working on SME financing issues—both supply and demand side;
At least 5 years of working experience in a senior leadership or advisory role in a government, development institution, or other relevant body;
In depth grasp of the regulatory/ institutional arrangements for private sector development;
Demonstrated understanding on the functional role of a central bank;
Knowledge of the Timorese development context; and
Significant experience working in a developing country.

Language:

Fluency of English language is required;
Fluency in Bahasa and/or Portuguese an asset.

TOR and application documents are available via this link http://procurement-notices.undp.org/view_notice.cfm?notice_id=27971