Project title: Strengthening the regulation and supervision of the non-bank financial market
Brief description: The objective of the project is:
To build a sound regulatory environment for non-bank financial services, which will ensure fair and efficient markets, protect consumers and promote market development, thereby contributing to sustained economic growth.
The purpose is to assist the Ukrainian authorities in strengthening the regulatory framework and supervision practices for securities and investment business, insurance, pensions, non-bank credit institutions, non-bank payment institutions and other non-bank financial services, taking account of EU and international standards and best practices.
The expected results for this project
A sound regulatory environment for financial services, including:
- a legal framework that approximates to EU standards and best practices in a broad range of financial services, including securities and investment business, fund management, insurance and pensions provision, leasing and factoring services, and non-bank credit institutions;
- solvency standards and market entry rules for non-bank financial institutions defined and applied;
- strengthened capacity of regulatory authorities to apply legislation, and associated rules, norms, etc., using appropriate methods, tools and guidance;
- enhanced supervision in practice (evidence of significant on-site and off-site supervision);
- appropriate levels of monitoring and enforcement;
- greater transparency in all key areas;
- a cleaner market, reflected in consolidation of non-bank financial institutions, the departure of unviable institutions from the market and new investment opportunities;
- an efficient mechanism for withdrawal of insolvent companies (“companies-violators”) from the market taking into account consumer protection
Commencement date of the project: September 2017 (provisional)
Duration of the assignment: 450 working days
Qualifications and skills:
- A master’s degree in a field related to finance, economics, business or public administration, international development, or equivalent; or an additional 5 years of required general professional experience as described below;
- Fluency in English (written and spoken);
- Good command of Ukrainian or Russian language (at least B2 level) would be an asset.
General professional experience:
- A minimum of 15 years’ practical experience in non-bank financial services regulation or practice.
Specific professional experience:
- At least 5 years of employment in at least a middle-level position in a financial services regulatory authority. This requirement refers exclusively to a full or part-time employment in relevant organisations. Consulting work will not be taken into consideration in the assessment of meeting this requirement. In case of part-time employment, only the actually worked time will be taken into account.
- At least 3 years of experience as a team leader of complex donor-funded projects with a budget of at least EUR 1 million;
- Experience in designing financial sector strategies, regulatory models and organisational structures.
About the Organization
Human Dynamics is a leading European provider of consulting services for the public sector with more than 120 projects implemented in 30 countries worldwide. Currently, Human Dynamics and its 300 experts and consultants advise more than 40 ministries and public/government agencies worldwide. You are welcome on our website for more details: www.humandynamics.org