Adviser, Debt Management - Special Advisory Services Division

Job Summary

Working closely with the DMS team the post-holder will manage and implement a portfolio of debt management projects designed to strengthen debt management capacity in member countries through advisory support and capacity building initiatives. To that end the post holder will be expected to undertake the following: assist member countries through advisory support, to formulate sound policies to improve their institutional and legal arrangements for debt management; better access international capital markets and negotiate external loans; advise on restructuring options for debt distressed countries; assist the countries to build local technical capacity to sustain compliance with the recommended debt management practices. In addition, the post-holder will be required to closely work with the DMS team to train country officials in the use of the CS-DRMS and Horizon systems for preparation of debt bulletins and in designing an annual borrowing plan

The post-holder will:

• Undertake institutional review of public debt management in member countries to advise them on reforms for effective debt management;
• Undertake review of the legal framework on public debt management in member countries to advise them on legal reforms for prudent debt management;
• Design debt management reform programmes geared to strengthening public debt operations, debt management policies and strategies, debt management laws and institutions;
• Assist countries in the formulation of a strategy to access international capital markets, contract external loans and manager external debt;
• Advise member countries facing a high debt burden on the restructuring options and possibilities to redress their debt problem along with other macroeconomic measures;
• Manage various debt management projects for countries within a region of the Commonwealth using a Results Based Management (RBM) approach;
• Undertake training through in-country and regional workshops on debt management policy issues, on the use of CS-DRMS for debt bulletins, on the use of Horizon for formulation and implementation of debt management strategies;
• Network and liaise actively with member governments, development partners such as the IMF and World Bank and regional organisations, to assist member countries through advisory support and capacity-building activities;
• Disseminate the work of DMS through newsletters, website and other media;
• Travel to countries for country missions, workshops and also represent DMS in various international conferences;
• Undertake any other assignment determined by the Adviser and Head of Debt Management Section.

Qualifications and Work Experience

• A first degree and a post-graduate qualification in economics, finance or a related subject.
• A minimum of 10 years’ debt management experience, gained in government or international organisations, in one or more of the following areas:
  • Public debt policy including debt management strategy formulation and implementation especially on market borrowings;
  • Expertise on institutional arrangements, governance and legal frameworks on debt management;
  • Knowledge of debt restructuring and loan re-negotiations;
  • Market knowledge related to functioning of international capital markets;
  • Excellent knowledge of public debt statistics including the IMF’s External Debt and Public Sector Guides.

Desirable:

• Knowledge and practical experience in the following areas of work will be considered as an added advantage, but not essential.
• Knowledge of CS-DRMS;
• Knowledge of various debt management toolkits like Debt Management Performance Assessment (DeMPA), Debt Sustainability Assessment – Debt Sustainability Framework (DSA-DSF) and Medium-term Debt Management Strategy (MTDS).

About the Special Advisory Services Division

The Special Advisory Services Division (SASD) is a major development co-operation instrument of the Commonwealth Secretariat, supporting the development efforts of member countries through technical assistance and capacity building.  A significant part of the Division’s work is of a consultancy and advisory nature, delivered through a combination of in-house and external expertise.  The Division has four sections: the Economic and Legal Section, the Debt Management Section, the Trade Section and the Enterprise and Agriculture Section.

The Debt Management Section (DMS) provides an integrated package of assistance in debt management, including advice on the legal framework and institutional arrangements for debt management; the formulation and implementation of debt management strategies including the development of local currency debt markets and access to international capital markets; the provision of training in the use of world-leading computer software, the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS); and the recently launched analytical tool – Horizon. The Section also supports countries in the building up of a comprehensive debt database in CS-DRMS in line with best practice in debt data statistics and assists in the preparation of debt bulletins. In undertaking such work, DMS works in close collaboration with a number of international agencies like the IMF and World Bank and also various regional organisations.

Further Information

How to apply