Azerbaijan_Support for the Development of Non-Bank Finance and Alternative Financial Instruments to Develop Economic Diversification

The expert will work closely with the Financial Market Supervision Authority (FIMSA) and other members of the consultancy team to assess the enabling environment for delivering non-bank and alternative financial services in manat, assess FIMSA’s institutional and organizational capacity to regulate and supervise these services, and draw from international best practice to develop a prioritized and sequenced action plan that recommends areas where reforms are needed.

Detailed Tasks: Major responsibilities will include, but not be limited to the following:

  1. Support the effective implementation of the overall technical assistance (TA) project.
  2. Undertake an assessment of the current legal and institutional framework for non-bank financial supervision and regulation in Azerbaijan. This review will cover aspects of (i) legal authority to supervise, regulate or take remedial action, etc (current laws and regulations), (ii) consumer and creditor protection, (iii) capital and liquidity regulatory regime, financial disclosure (public and non-public) and corporate governance and transparency; and (iv) human resource and institutional capacity to perform FIMSA-related functions.
  3. Coordinate, consolidate and rationalize inputs from other team members and develop a realistic and achievable reform action plan. This task will include recommending international and regional good practices for non-bank supervision and regulation, two priority regulatory changes to be implemented, and transitional arrangements for the new or amended laws and regulations;
  4. Prepare guidance notes, standard operating procedures and process maps where needed and provide hands-on training in their use to the Financial Policy and Methodology Department and in the Non-Bank Financial Supervision Department of FIMSA; and
  5. Provide advice and training on market regulation matters, including on how to approach supervisee institutions.


  1. Assessment reports on the enabling environment, and FIMSA’s institutional and organizational capacity to effectively undertake its regulatory and supervisory functions;
  2. A prioritized and sequenced action plan;
  3. Standard operating procedures, guidelines, and process maps prepared;
  4. Financial education and literacy programs delivered; and
  5. Training, workshops, and seminars conducted, and evaluation reports prepared

The expert/team leader will have had experience in international consulting in similar assignments and have accumulated at least 10 years of experience with a focus on non-deposit taking finance.

She or he must have experience in the development of financial sector policies and regulations and on-site and off-site supervision work. Relevant experience in drafting guidelines, standard operating procedures and process maps is preferred.

Previous professional exposure in Central and West Asia is an advantage

Start / Duration: 


Please apply for this position via AFC Homepage