The IMF Legal Department is seeking to fill two limited-term staff Counsel positions to join the financial law team of its Financial and Fiscal Law Unit (FFL).
The primary objective of the Financial and Fiscal Law Unit is to provide high-quality legal advice in the context of IMF surveillance, financial assistance programs, technical assistance (TA), and Financial Sector Assessment Programs (FSAPs). More specifically, FFL provides advice to member countries on laws and regulations affecting financial institutions and markets as well as fiscal laws (taxation, budget, public financial management). It also participates in surveillance and FSAP missions and in legal policy formulation, and contributes to the design and implementation of Fund-supported programs. Finally, the Financial and Fiscal Law Unit provides legal advice regarding the intersection of fiscal law with financial law (banking sector taxation, public debt instrument markets, etc).
Duties and Responsibilities
Under the overall direction of the General Counsel and Director of the Legal Department (LEG), and the direction of the Assistant General Counsel responsible for the FFL Unit, the successful candidate will work as Counsel in the financial law team and carry out a number of duties in the financial sector area, in particular in the area of regulation of financial institutions and markets. Primary duties and responsibilities will include:
1. In the context of IMF surveillance, FSAPs, financial assistance programs, and TA, providing legal advice in the area of central banking and financial sector legislation to the Fund's Executive Board, to Fund management, to other departments, and to other units within the Legal Department as required;
2. Drafting of and advising on financial sector legislation in IMF member countries;
3. Participating in Fund missions and engaging in pre-mission research and pre- and post-mission work and reviews;
4. Contributing to, and commenting on, Fund policy and analytical papers as well as other publications of the Fund in the area of financial law;
5. Organizing and delivering presentations and seminars at the premises of the Fund and in member countries; and
6. Carrying out other assignments as instructed by the General Counsel or the Assistant General Counsel in charge of the Unit.
The successful candidate will have
a university degree in law. In light of the Department's work on the legal underpinnings for financial, accounting and audit frameworks of central banks, an additional degree in finance or accounting would be a plus. The candidate will have at least five years of relevant professional legal experience, a significant portion of which should have been with a central bank or with a financial sector supervisor, ministry of finance, or an international financial institution. In those positions, the candidate will have provided legal advice on, and drafted legal instruments related to, (i) the governance, operations and financial regime of central banks; (ii) the regulation and supervision of banks; or (iii) the treatment of banks in resolution proceedings and systemic crises. Experience related to non-bank financial institutions and financial infrastructure (including the payment system) would also be highly valued, as would knowledge of other components of the financial sector safety net, such as deposit guarantee schemes and emergency liquidity arrangements.
The successful candidate will have a good understanding of the IMF's role in the global financial system, its activities and operations, and its contribution in shaping legal frameworks underpinning financial stability. A high degree of demonstrated initiative and adaptability are essential attributes, as are excellent analytical, diplomatic, and written and oral communication skills in English. A good track record of working effectively in inter-disciplinary teams and of good relationships with external counterparts at all levels and of different cultural backgrounds is also required.