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 on Legal Assessment of Derivative 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 legal consultancy service is to review and assess current state of legal environment in relation to introducing derivatives to the Mongolian capital market and draft legal acts required to facilitate derivatives trading.

 

SCOPE OF WORK

 

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

1. The Consultant shall study and prepare recommendations on how Mongolian Stock Exchange (MSE) and its stakeholder-Ministry of Finance (MoF), Financial Regulatory Commission (FRC), Mongolian Securities Clearing House (MSCH), Central Depository (CD) and other market participants can be involved in implementing derivatives in Mongolian stock market including listing and trading of derivatives and segregate agencies’ functions improve coherence of duties among MoF, FRC, MSE and other respective bodies for capital market policy-making and regulatory procedures. 

2. To conduct a comprehensive review of the current legal framework of derivatives in the Securities Market Law, the Investment Law, and the Investment Fund Law and assess MSE’s relevant regulations on derivatives. 

3. Based on the Task 2, the Consultant shall prepare a detailed list of regulations to be drafted, according to the international best practices available. The expected legal acts shall cover the followings:

  - The roles and responsibilities of each entity in derivatives listing, trading, surveillance, clearing and settlement; 

  - The detailed recommendation on international best practices of derivatives regulations, such as Central Counterparty; 

  - To produce a draft agreement coordinating the relations between the relevant parties in terms of derivatives;  

  - The recommendation on necessary amendments in Securities Market Law, Investment Law, and Investment Fund Law. 

4. To provide technical assistance to implement above drafted regulations. 

5. To conduct at least two seminars/trainings during the contract period covering above mentioned tasks. 

6. Undertake such other tasks as reasonably requested and/or assigned by the management administration of (MSE).

 

CONSULTANT’S QUALIFICATIONS/ SELECTION CRITERIA

 

 Education:  A suitable candidate should have a graduate degree in legal field.  

 Experience:  Incumbent should have at least 3 years professional legal 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: Fluent written and spoken English language skills; Fluent in Mongolian language skill; 

 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;

 

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