PAYMENT SYSTEMS SPECIALIST

Location:

Arusha, Arusha

Date:

09/19/2012

Job Type:

Employee

Job Status:

Full Time

Categories:

• Administrative / Clerical
• Financial Services
• Retail / Wholesale

Job Details

(1 POST) – (REF: EAC/HR/2012/46)

Directorate: Planning

Reports to: Regional Financial Policy Advisor, Market Development

Duration of Contract: 2 years Fixed Term (Non-Established)

Station: East African Community (EAC) Headquarters, Arusha, Tanzania

MAIN PURPOSE OF THE POSITION:

The purpose of this position is to enable the project and the EAC secretariat, to prepare and plan forcoordinated development and where appropriate, progressive linking of payments systems within

the region. This professional will take charge of payment systems development activities relating topayment systems development under component four (4) of the project (Integration of financial

markets infrastructure)

SCOPE OF THE WORK:

The assignment objective is to provide the technical input required to plan for payment systemintegration and harmonization, relating to the project’s components listed above. This should be done in accordance with best international technological and communication standards and within the bounds of the common regulatory and legal framework of the region. To achieve this objective the specialist is expected to carry out the following tasks:

1. Work jointly with other experts and consultants to undertake reviews of the current state of financial sector payment systems (high value and retail), in the EAC region.

2. Identify and benchmark regional and international projects, for the purpose of extracting appropriate Financial Market infrastructure practices for the EAC.

3. Develop, oversee and coordinate the EAC’s financial sector payment systems agenda

4. Provide analysis and market information to guide the payment systems development modernization and integration, relating to regional bond market, commodities exchanges, stock exchange, CDS, and mobile phone platforms.

5. Identify and prioritize systems development requirements for integrating and harmonizing payments systems, within the region for the subsectors listed in four (4) above and advisee the EAC on cost-effective sourcing options.

6. Implement or co-ordinate the implementation of appropriate information and technological platforms in the areas identified above

7. Work with other financial sectors towards implementing a sustainable, reliable, effective andseamless integration of mobile phone systems, with the systems for the exchange of financial

information.

8. In consultation with sectoral experts recommend for implementation, payments infrastructure that secures the privacy and identity of all participants communicating on the platforms implemented in accordance to parts 7 above.

9. Supervise and contribute to studies aimed at development of the legal and regulatory framework for both high value and retail payment systems. This framework will include inter-alia, development of laws and regulations relating to electronic signatures and admissibility of

electronic records, insolvency and contractual relations between parties; the transparency and security of payment instruments and the responsibilities of regulatory authorities etc

10. Coordinate development of Terms of References and participate in the process of identifying and hiring of consultants in his/her area of responsibility. Backstop these consultancies and carry out quality assurance of consultancy outputs.

11. Liaise with development partners and other specialists working on Financial Market Infrastructure in the region, together with those responsible for technical assistance programs within the East Africa Region.

12. Assist in monitoring and coordinating on-going payment systems and Market InfrastructureInitiatives in EAC.

DELIVERABLES:

i. Periodic six monthly reports on current technology and communications platforms in use for financial sector integration projects across the region, outlining inter alia priorities for system harmonization.

ii. Recommendations on policy priorities to be addressed in order to facilitate payment systemsintegration.

iii. Advice to the EAC and the project on cost effective options for procurements required undercomponent four (4)

iv. Recommended strategy for integrating and harmonizing regional payments systems developed.

v. Regional Capacity building program for users and relevant taskforces.

Requirements

QUALIFICATIONS AND EXPERIENCE:

The suitable candidate for this position will be expected to possess: Masters in Business, Finance and Banking, Economics, Information technology, or finance/ business related subjects, with a good

knowledge of Information Science relating to payments systems. He/she should have more than 6 years’ experience in relevant financial sector management or operations. At least three years of the

above mentioned experience, should have been at middle to senior management level and includeexperience in payment systems development and operations; expertise in assessing and reporting on

existing telecom infrastructure, knowledge of technologies and resources currently in place; andexpertise in assessing potential software development for the banks and financial service providers.

Experience in undertaking similar assignments in developing countries, preferably within East Africa, will be an added advantage.

SKILLS AND COMPETENCIES:

The Payments Specialist will be required to have a sound knowledge and experience in a large number of the following areas: international information technology best standards and practices;

payments system regulation and supervision; protocols for financial transactions; protocols for paperless securities settlement transactions; financial clearing house operations; IT Security

measures; disaster recovery systems; risk management; capacity building for payment system

TERMS AND CONDITIONS OF SERVICE:

This post is a non-established EAC-FSDRP project position, supported by donor funds. Contract terms are limited to the period of the project (i.e. March 2014). Renewal is possible subject to extension of the funding and individual staff’s performance. Attractive consolidated remuneration packages for fixed contract positions will be paid in accordance with the EAC-FSDRP budget.

HOW TO APPLY:

Suitably qualified candidates should submit their applications quoting the reference number of theposition applied for, by registered mail, courier service, e-mail (all soft copies should be in MS Word) or dispatch together with Curriculum Vitae, copies of both academic and professional certificates and testimonials, names and addresses of three referees, and day time telephone/cell phone contact details to:

The Secretary General

East African Community

Arusha International Conference Centre

5th Floor, Kilimanjaro Wing

P.O. Box 1096

Arusha - Tanzania.

Fax No: 007 27 2502455/2504481

E-mail: vacancies@eachq.org

To be received not later than October 15th 2012

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