VACANCY NOTICE                                                   

 

Mongolia has received a credit from the International Development Association (IDA) for a Multi-Sectoral Technical Assistance Project (MSTAP). The Ministry of Finance (MOF) is seeking to recruit a qualified Local Consultant for Commodity derivative market assessment in Mongolian Capital Market under Component C1.1.2 for Enhancing Capacity for Maintaining the Stability of the Financial Sector with the following skills to complement its dynamic team.

The main objective of the consultancy service is to assess current market infrastructure, its capacity to implement the laws, trustworthiness and recommend well adjusting model considering specifics in the country including implementation tools for Mongolian Stock Exchange (MSE) and relevant authority roles in the sector. The consultant will be placed at the MSE.

 

SCOPE OF WORK

 

Key responsibilities will include the following, but not limited to:

1. Based on studying International best practices in the field of commodity derivatives market, including its legal, regulatory environment and market infrastructure determine specific conditions covering following tasks:

• Commodity derivatives registration procedures based on common international best  practices and standards
• Trading infrastructure
• Clearance and settlement services
• Market participants

2. Conduct market research on the commodity market of Mongolia including following tasks:

• Determine current supply of metal and agricultural markets by their producers, demonstrating produced products volume and price, and
• Determine current demand of metal and agricultural markets by their consumers separating as foreign and domestic consumers, and 
• Clarify the markets’ capacity for the next 5-10 years; 

3. Conduct research on information network & data-base system of relevant markets, information provider’ institutions and state agencies;

4. Based on the researches determine possibility of introducing derivatives products in Mongolia and determine prospective derivative market structure as follows: 

• Contract types, contract specifications  
• Venues/platforms for trading commodity contracts 
• Systems: Trading system, matching system, warehouse stock reporting system (if needed), trade reporting systems, other support systems;
• Membership and clients structure, eligibility criteria and requirements,  
• Trading times and dates
• Fees: Membership fees, trading fees, annual fees, listing fees, distribution of market prices charges, others
• Risk management
• Clearing and Settlement 
• Price setting including real time prices, reference prices, such as Settlement price
• Order types, account specifications 
• Data distributors
• Compliance, including  market surveillance and member surveillance; 

5. Review and assess current MIT systems at the MSE and its capability, and reveal its suitability and requirements’ satisfaction with the proposed systems; 

6. Review and assess current market structure and participants capability, and determine its suitability and requirements’ satisfaction with the proposed structure, and define missing elements, such as required entities and their roles and functions in the market; 

 

CONSULTANT’S QUALIFICATIONS/ SELECTION CRITERIA

 

 Education:  A suitable candidate should have a graduate degree in Finance/Business administration or Capital market field.  

 Experience:  Incumbent should have at least 3 years professional experience in field of capital market development on international market. If the candidate has worked or expert experiences particularly on capital market regulation and corporate governance in  stock exchange financial institutions, investment agency/or company would be an advantage;

 Language skills: the candidate fluent written and spoken English;

 Information technology literacy: Be proficient in creating of PC based corporate information system, applications and have excellent web research and navigation skills;

 Excellent interpersonal skills with the ability to function effectively and collaboratively in a team environment

 

CONTRACT DURATION

 

The assignment for above position will commence in October, 2014. Contract will be for a period of 6 months.

Consultant will be selected in accordance with the World Bank’s Guidelines: Selection and Employment of Consultants by World Bank Borrowers, May 2004 (revised in October 2006). 

If you possess the above qualifications, please submit a cover letter indicating why she/he considers her/himself suitable for the position, with detailed CV highlighting skills/experience, copy of diplomas or certificates and two references from last two employers no later than17:00p.m, September 22, 2014. Only short-listed candidates will be contacted. The application documents shall be submitted by post mail or in person to the below address. The submitted documents will not be returned to the applicants. Incomplete applications would not be considered.

Contact address:

Multi-Sectoral Technical Assistance Project

Attn: Ms. D.Otgonbaigal, Procurement Specialist, Room # 613, the Ministry of Finance, 

Government Building II, S.Danzangiin Street, Chingeltei district, Ulaanbaatar 15160, Mongolia 

Tel: (976)-51- 265782