Anunțuri de Angajare

 SCOPE OF WORK

Position:                                 Local Financial Analyst

Location:                                Chisinau, Moldova

Period of Performance:       April 2024 – September 2024  

Publication Date:                  March 01, 2024

Total Level of Effort:            up to 45 days

Work Plan Activity:             Task 3.2.3 Facilitation of discussions with private sector and government stakeholders to assess needs, constraints, and recommendations for the development of capital markets

Project Background

The Moldova Institutional and Structural Reforms Activity (MISRA) is a five-year project funded by the US Agency for International Development (USAID) that aims to improve the business, investment, and trade enabling environment in cooperation with the Government of Moldova (GoM) to respond to an unprecedented economic crisis due to the war in Ukraine, as well as to support Moldova’s economic recovery, including to: advance the GoM’s economic action plan; strengthen public economic governance institutions; improve transport, logistics, trade, and commerce; and accelerate financial sector reforms and inclusiveness; among other needs. USAID MISRA is also building the capacity of the GoM to better engage and strategically communicate its economic plan, progress, and results to the private sector, civil society, and the public. These activities include intensive support to select GoM institutions with institutional reforms, streamlined processes, and digitalization to improve transparency, accountability, access to information, and public services.

Activity Overview

This Scope of Work (SOW) outlines the responsibilities and objectives for a Financial Analyst consultant for supporting the National Commission for Financial Markets (NCFM). The primary task is to provide inputs for a comprehensive diagnostic of Moldova's capital markets, which will serve as a foundational element for the development of a national strategy aimed at capital market development and support the NCFM in subsequent discussions.

The development of capital markets in small economies like Moldova requires a tailored approach that aligns with the domestic economy's unique characteristics, needs of companies, and investors. Recognizing the diverse factors that influence capital market structures, such as the macroeconomic and tax environments, as well as historical political and economic pathways, the diagnostic on which the consultant will be working on, will aim to identify a strategic roadmap for capital market development in Moldova.

The consultant will work closely directly with NCFM’s management, when conducting the diagnostic analysis. This will include the following:

• Assessment of Macroeconomic Preconditions: Analyze stable macroeconomic environment indicators, gross domestic savings levels, inflation, and interest rates to evaluate the readiness for capital market development.
• Evaluation of the Banking and Corporate Sector Soundness: Examine the health and stability of these sectors as a foundation for securities market development.
• Institutional and Legal Framework Analysis: Assess the efficiency of contract enforcement, incorporation and insolvency frameworks, accounting and auditing standards, competition policies, and tax regulations to support market participants.
• Identification of Strategic Financing Needs: Define capital market development agendas tailored to the financing needs of strategic sectors, with particular attention to SMEs and industrial sectors.
• Supply and Demand Side Analysis: Investigate the current investor base and potential issuers, focusing on diversifying and expanding both to ensure a deep and liquid market.

Responsibilities and Tasks

The consultant will be responsible for the following key tasks:

• Engagement with Stakeholders: Collaborate with the NCFM and other government bodies, private sector entities, and market participants to gather insights and information necessary for the diagnostic.
• Diagnostic Report Inputs: Develop comprehensive inputs detailing the findings for the diagnostic analysis, including recommendations for a strategic roadmap towards capital market development in Moldova.

Deliverables

• Diagnostic Input: A detailed report including analysis findings, recommendations, and inputs for a roadmap for capital market development, to be submitted (by May 30).
• Presentations and support: Presentations summarizing key findings and recommendations to be delivered to the NCFM and other relevant stakeholders, as directed by the project (by September 30).

Qualifications

• Minimum of a bachelor’s degree in finance, business administration or another relevant field.
• At least 2 years of relevant professional experience in financial analysis, capital markets, economic policy development, or a related area.
• Experience in conducting diagnostics, market analysis, or development of strategies for capital market enhancement is preferable.
• Good understanding of capital market structures, financial instruments, and the regulatory environment.
• Fluency in business English, a good command of technical and legal English, and skills in verbal and written communications.

 Reporting

In addition to the deliverables above, the consultant will provide periodic progress reports to the Component 3 Financial Sector Team Lead. The expert will also contribute to other reports and documents as required consistent with this scope of work.

How to Apply

We welcome your CV and preferably cover letter at Moldovajobs@nathaninc.com. Please apply by March 13, 2024, with “Financial Analyst – Capital Markets” in the subject line. This short-term position will remain open until filled.