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Strategic Adviser – Financial Sector Development Directorate (FSDD)
One (1) year role with opportunity for renewal, with MINECOFIN and AFR reserving the right in exceptional circumstances to review, and potentially cancel, the role at the end of year one.
The successful candidate will be based at the Ministry of Finance and Economic Planning under the Financial Sector Development Directorate in Kigali, Rwanda (with possible travel to other regions of Rwanda).
About the Financial Sector Development Directorate under the Ministry of Finance and Economic Planning
The Ministry of Finance and Economic Planning (MINECOFIN) core vision is develop Rwanda into a country free of poverty and its mission is to raise sustainable growth, economic opportunities, and living standards of all Rwandans.
One of the key functions of the Ministry is to develop a deeper and more inclusive financial sector that serves all the segments of the Rwandan population and contribute the desired economic development agenda as outlined in the 2017-2024 National Strategy for Transformation and Prosperity (NSTP).
This high level objective is to be achieved through the following pathway:
• Expanding access and usage of quality financial services (saving, credit, insurance, pension, capital market instruments, payments, etc.)
• Enhancing savings mobilization, especially long term savings;
• Mobilizing long-term capital for investment;
• Positioning Rwanda as an international financial services Centre
The Strategic Adviser will play a central role in this.
The Strategic Adviser will be based in Kigali, which is a small, pleasant and friendly city, regarded as among the cleanest and safest capitals in Africa. There are a range of facilities/amenities in Kigali including supermarkets, shops, cinema, gyms and various good restaurants. Kigali also has a number of good quality nurseries and primary schools.
Rwanda has breathtaking scenery and an agreeable climate. Rwanda is a small country with good roads and little traffic. Lodges/resorts and national parks are two to three hours’ drive from the capital city enabling a range of weekend breaks and excursions. Neighbouring countries including Uganda, Kenya and Tanzania also offer a number of accessible and popular destinations.
Main purpose of the position
The Strategic Adviser will support the Director General (DG)-Financial Sector Development Directorate (FSDD) to drive the design and implementation of policies, strategies and other reforms required to deepen, widen, strengthen the financial sector in order to support real economy sectors to achieve desired economic growth and enhanced well-being of Rwandans.
The successful candidate will provide advice and practical assistance to the FSDD senior leadership team on how to strengthen the policy design and implementation to become more efficient and effective. The Adviser will be expected to support and participate in the shaping of the Financial Sector Development Strategy III and coordinate the financial sector stakeholders during implementation to ensure maximum impact is achieved.
The adviser will also be expected to liaise with the private sector and work alongside Senior Government Officials, Development Partners and AFR to drive a shared vision of developing the Rwandan Financial Sector. The adviser will also be responsible for identifying opportunities for the delivery of short-term Technical Assistance to support the implementation of the overarching reform plan of the FSDD.
Roles and responsibilities
/ what will the jobholder be expected to achieve?
The Adviser will be based full time at MINECOFIN, reporting to the Director General-FSDD, with frequent contact with the Access to Finance Rwanda office. The role will be adaptable, depending on FSDD’s needs at the time, with priorities defined every six months with the DG. The likely division of time will be as follows:
• 50% - Strategic Advice – The Strategic Adviser will provide advice to the DG and other Directors on a range of areas, both technical and organisational. The individual will be expected to be responsive to FSDD’s needs at the time but advice could include:
o Support in strengthening its effective policy design and implementation for instance by
• Thinking through FSDD’s strategic role in driving financial sector development and financing of the National Strategy for Transformation,
• Identification of areas of improvement in the current policy design and implementation framework
• Developing a sound system to monitor and evaluate the financial sector development outcomes and impact
o Ensuring policy interventions’ sustainability
o Enhancing Financial Sector Stability and integrity
o Improving the effectiveness and efficiency of financial sector policies in Rwanda
The individual will need to work with the DG in engaging a range of external stakeholders in this work, particularly the other Directorate within the Ministry of Finance and Economic Planning, the Central Bank of Rwanda, other Ministries and Government Parastatals, etc.
• 50% - Support to Implementation of FSDD Policy Reforms - FSDD is currently developing reforms in various areas. The Adviser will support the DG and his team in the roll out of FSDD reforms and ensure they meet expected results.
This role would involve hands on work with the relevant units of FSDD to move reforms forward, with the Adviser having a particular focus on change management.
The Adviser will also work with the DG to ensure that growing donor support is coordinated behind FSDD’s priorities and that wider reform plans are delivered.
The Advisor will need to engage sensitively and diplomatically with relevant senior officials, Ministers and the private sector to develop an understanding of their needs, articulate and shape their demand and to provide high-quality and relevant technical advice.
Ability to work with colleagues in FSDD to implement and/or monitor outputs from individual short-term missions will be critical.
Knowledge, skills and experience required
This role is highly flexible and unstructured. We are looking for an individual who can work well with little structure, has excellent communication and influencing skills and has the ability to carve out a strategic role for themselves in supporting the DG.
Skills, Experience and Qualifications:
• Good understanding of financial sector development and the FSDD’s strategic role in Rwanda’s economic transformation
• Strong stakeholder management skills, with a track record of building sound relationships with a range of international and domestic partners, including senior government members and officials.
• Proven ability to achieve impact, coordinate competing views and influence others.
• Evidence of strong strategic thinking skills and flexibility to adjust your own, and others’, priorities in response to changing circumstances.
• Experience of strategic planning, risk management and monitoring and evaluation.
• Confidence in overseeing and steering evidence generation and knowledge management
• Advanced degree in economics, finance, or related studies required
• Minimum 10 years of relevant experience in macroeconomic policy reform and financial sector development
• Minimum five years of experience working in related fields in developing countries
• Experience in capital market development
• Proven ability to work with host-country government officials, international donors, and private-sector stakeholders
• Strong leadership and communication skills required
• English fluency required
• Senior-level experience and expertise in a relevant field, such as Development Finance, Digital Financial services to expand financial inclusion, Banking, Insurance, Pension, Capital Market, etc.
• Experience of leading a high-level change / reform program
• Experience of working on or in developing countries
• Broad knowledge of financial sector development matters.