Palladium Late August Vacancies 2017
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Job Title: Senior/Lead Financial Sector Consultant, FINSSP II
Project Overview and Role
Ghana’s vision for the financial sector as stated in the Financial Sector Strategic Plan (FINSSP II) adopted in April 2012 is a financial sector that is efficient in the mobilization and allocation of funds, fully integrated with the global financial system and supported by a regulatory system that promotes a high degree of confidence. In furtherance of this vision, FINSSP II established the following objectives:
Objective 1: To be the preferred source of finance for domestic companies
Objective 2: To promote efficient savings mobilization Strategic Initiatives
Objective 3: To enhance the competitiveness of Ghana?s financial institutions within a regional and global setting
Objective 4: To ensure a stronger and more facilitative regulatory regime
Objective 5: To achieve a diversified domestic financial sector within a competitive environment
Objective 6: To promote education, public awareness, capacity-building and financial literacy
To achieve these objectives, a number of strategic initiatives were adopted and translated into 88 actionable recommendations.
The Ministry of Finance (MOF) would like to engage two Consultants to undertake an impact analysis of FINSSP II. The Consultants? findings will be used as input for the preparation of a successor strategic document to FINSSP II, i.e., FINSSP III.
Description of Activities
The consultants are expected to perform the following activities:
1. Highlight the major components of the financial system at the beginning of the implementation of FINSSP II from 2012 and major changes that have taken place thereafter.
2. Analyze the inventory of reform measures recommended under FINSSP II to identify:
the recommendations made;
those recommendations implemented; and
those recommendations yet to be implemented and reasons for this lack of implementation.
3. Propose the possible next steps towards preparation of a successor strategy document for the sector in the light of the developments in
4. For each of the following sectors, identify appropriate measures of performance and evaluate performance of each of the following sectors relative to FINSSP II expectations:
Rural and Community Banks
5. Undertake a detailed analysis of reform measures with respect to the following keyindicators:
(i) IMPACT ON FINANCIAL STRUCTURE, DEEPENING AND INTERMEDIATION
Impact on financial structure
Impact on domestic debt management
(ii) IMPACT ON FINANCIAL EFFICIENCY
Interest rate spread
Credit allocative efficiency
(iii) FINANCIAL DEVELOPMENT IN PEER COUNTRIES (particularly peer groups from emerging market countries or sovereign rated B+ countries together with sub-Saharan Africa)
Financial deepening and intermediation
(iv) IMPACT ON DOMESTIC DEBT MANAGEMENT
Impact on cost and sustainability of debt
6. Suggest directions for further reforms on the basis of the gaps identified in the preceding analysis.
Duration of Study and Expected Outputs
The proposed duration of the study is a period of seven weeks. The following outputs are required from the Consultants.
Inception Report (end of Week 2).
Draft reports on each of the areas that correspond to the bullets listed above (End of Week 5).
Presentation of Draft Report at a Stakeholders Forum (end of Week 6).
Final Report reflecting feedback from stakeholders? forum (end of Week 7).
Data, Local Services, Personnel and Facilities to be provided by the Client The Ministry of Finance (MOF) will provide work space, data and other necessary materials for the assignment, including a liaison to work with at the MOF.
The Consultants will report to the MOF and will work under the direct supervision of the Director, Financial Sector Division and the Technical Advisor.
For contractual supervision, the Consultants will fall under the supervision of the Chief of Party, USAID FinGAP (implemented by The Palladium Group), or his designate.
The Senior/Lead Consultant will be required to have the following qualifications:
Strong qualifications in Economics and Finance with at least 10 years of relevant professional experience; MBA or related graduate degree preferred.
Extensive experience in designing and/or reviewing financial sector reform programmes especially in emerging economies.
Experience in conducting program/project evaluations in countries with similar attributes as Ghana.
Familiarity with institutional and legal frameworks of Ghana?s financial sector.