30th April, 2021
We are a global provider of integrated professional services which enrich the physical and social environment for the communities in which we live and work. Our team of multidisciplinary specialists has more than 70 years’ experience in designing, developing and delivering sustainable projects and community advancement programs.
Cardno ID (International Development) has extensive experience managing a number of donor-funded programs in the Asia Pacific region. We engage in international development as a holistic, multidisciplinary and integrated process. Strengthened by our geographic and market diversity, we are committed to providing innovative and integrated solutions that create opportunities for significant, lasting change in emerging economies. Collaborating with multilateral and bilateral donors, private clients, governments and communities to develop sustainable solutions to complex challenges, we work with local counterparts to achieve meaningful impact.
Overview of the Role:
Prospera is seeking to engage a short-term Senior Adviser (Public Debt Management) in the context of improving Indonesia’s public debt management and in supporting Government of Indonesia (GoI) enhance its debt management strategy. Specifically, the Adviser will assist GoI improve their financial modelling in determining the optimal debt strategy. With Prospera support, s/he will advise the Ministry of Finance in building stochastic strategy and harmonizing existing models.
About the Program:
Prospera is a partnership facility between the Government of Australia (through the Department of Foreign Affairs and Trade) and the Government of Indonesia. It aims to foster strong, sustainable and inclusive economic growth in Indonesia.
About the Role:
The Senior Adviser (Public Debt Management) will report to Senior Coordinator – Macro, Fiscal, and Financial Stability. The remuneration will be set according to Adviser Remuneration Framework (ARF) Discipline Group C, Job Level 4. The remuneration level at which the adviser is engaged will be based on the successful candidate's relevant skills and experience. This is a short-term (consultancy) and an international position.
Responsibilities and duties:
The key roles and responsibilities of the position are to provide the following:
- Evaluate Ministry of Finance existing debt strategy framework.
- Advise Ministry of Finance on the best practice of debt strategy framework and public debt management in general.
- Undertake literature review on stochastic debt strategy framework.
- Develop alongside Prospera and GoI stochastic simulation algorithm to simulate the future dynamics of a set of key macroeconomic variables.
- Alongside Prospera and GoI, build a model for debt strategy analysis using Cost-at-Risk framework that identifies the optimal allocations (by currency denomination, tenor, and coupon variability) and incorporates market capacity constraint and several other constraints that can potentially add on. This built model would unify the strategy analysis for both medium-term and yearly coverage periods in the technical implementation. Hence this will automatically increase the consistency of these two strategies.
- Engage with Ministry Finance to build capacity in using and expanding the new model,
- Review Ministry of Finance current methodology on measuring government bond market capacity. If needed, assist Ministry of Finance in developing a new framework, modelling or qualitative/quantitative approach to improve the estimation of government bond market capacity,
- Produce draft and final reports on the new model for debt strategy analysis.
To access the Terms of Reference detailing the role, responsibilities and selection criteria for this position, please copy and paste this link into a web browser: https://www.cardno.com/media/7275/tor-senior-adviser-public-debt-management.pdf
The Adviser will possess strong qualifications and experience to deliver the expected outputs:
- Tertiary qualifications in Economics, Finance, or Accounting. Post-graduate qualification and/or relevant professional certification such as CFA are preferred.
- Minimum of 10 years of professional experience working on public debt management.
- Knowledge and experience working on the Indonesian economy, with Indonesian and international policymakers, are preferred.
- Mastery of R or Phyton programming language is a plus, spreadsheet modelling is essential.
- Excellent written communication skills with fluency in English (both written and oral), including advocacy and presentation skills. Fluency in Bahasa Indonesia is a plus, but not necessary.
- Proven ability to write a concise report in English.
- Ability to work under strict time limits and apply high production and technical standards for the purpose of maintaining high level of professionalism.
How to apply?
We welcome your interest in joining the Prospera team. Please click 'apply' and submit your CV including a cover letter that addresses the selection criteria (no more than two pages). Kindly note that applications that do not include a cover letter addressing the key selection criteria will not be considered. Only shortlisted applicants will be contacted.
Cardno provides equal employment opportunities. We welcome and encourage applications from people of all backgrounds and abilities.
Applications must be submitted by 5pm Jakarta time, Monday 24 May 2021
Cardno is committed to Safety and the Prevention of Sexual Abuse, Exploitation and Harassment (PSEAH), Child Protection, Fraud and Bribery prevention. We want to engage with the right people to deliver our client programs. As part of our approach, you will be subjected to formal background screening, criminal record checks, employment verification, and periodic compliance checks. All Cardno staff receive safety, compliance and safeguards training and are responsible for contributing to a safer working culture.
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