Re-Advert: Consultancy - Analyst Expert/Mentor

The Financial Reporting Centre (FRC) was established under Article 20 (1) of Somalia’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act of 2016 to serve as Somalia’s Financial Intelligence Unit (FIU) responsible for receiving, requesting, analyzing and appropriately disseminating information concerning money laundering and terrorist financing.

The role of the FRC is to help rebuild the trust in the Somali financial system and promote the confidence level of international banks and governments in the Banks and Money Transfer Businesses (MTBs) that operate in Somalia by preventing Banks and MTBs from being used for money laundering and terrorism financing. The FRC does this by:

• Issuing regulations, providing guidance and feedback to relevant ministries and agencies as well as reporting entities in AML/CFT regime.
• Designing and implementing compliance monitoring and enforcement systems for sectors that lack designated supervisory authorities.
• Imposing proportionate, dissuasive, and effective administrative sanctions and penalties.
• Representing the country in national, regional and global meetings, forums and organizations that focus on AML.CFT issues.
• Signing and implementing memorandum of understanding and other agreements with foreign financial intelligence units.

THE ASSIGNMENT

IDLO and FRC seek to recruit an Analyst Expert/Mentor who will be recruited into and embedded within the Financial Reporting Centre’s Office in Mogadishu for an initial duration of 12 months with the possibility of further extension subject to performance and availability of funding. She/he will work under the primary supervision of the Director of the FRC and will be responsible for the following deliverables:

• Provide advice and support to the FRC on institutional development matters, including the development of appropriate systems and SOPs to enhance the FRC Regulatory Reporting Analysis and Enforcement Division’s workflow management and task assignment and tracking.
• Develop training curriculums for FRC Regulatory Reporting Analysis and Enforcement Division Staff in close collaboration with other FRC Departments and Experts.
• Provide technical assistance, training, and on-site mentoring to the FRC Analysts and enhance their capacity to review and analyze Suspicious Transactions Reports (STR) and Large Cash Transaction Reports (LCTR) made by reporting institutions.
• Support the FRC Regulatory Reporting Analysis and Enforcement Division with the provision of technical assistance to other FRC Departments and external law enforcement agencies and regulators.
• Support the FRC Regulatory Reporting Analysis and Enforcement Division with the preparation of departmental periodic reports.
• Assist the FRC in identifying emerging trends in Money Laundering and Terrorism Financing to inform policy, guidelines, and awareness creation.
• Support the FRC to develop and strengthen collaboration with the Police Criminal Investigation Department and the Office of the Attorney General to facilitate the exchange of information, and other information exchange mechanisms, including drafting Memorandum of Understanding, Requests for Assistance, letters, and other communications to facilitate exchange information where required.
• If requested, participate in meetings with external stakeholders.
• Prepare a variety of written outputs and file monthly reports concerning the work and performed activities.
• Perform other work-related duties as required.

Education/Work experience

• Minimum Bachelor’s degree in in Economics, Finance, Law, Criminology or related field;
• 8-15 years of relevant professional experience, including at the international level, in countering the financing of terrorism (CFT), anti-money laundering (AML), law enforcement, and financial intelligence analysis.

Specific knowledge, skills, and competencies

• Experience in Somalia or in similar contexts is highly desirable;
• Strong communication and interpersonal skills, and the ability to develop excellent relations with Somali counterparts and donor officials;
• Previous experience of working within a financial intelligence unit an asset; and
• Ability to live, work, and travel in Somalia.

Languages

• Fluency in written and spoken English.
• Fluency in Somali is desirable.

Terms & Conditions

Applications will be screened on regular basis; a qualified applicant might be recruited before the deadline. In the interest of making most effective use of resources, only the short-listed candidates will be contacted during the selection process.

Applications will be screened on regular basis; a qualified applicant might be recruited before the deadline. In the interest of making most effective use of resources, only the short-listed candidates will be contacted during the selection process.

IDLO is an Equal Opportunity Employer and values diversity in all areas of its operations. We welcome applications of qualified and diverse candidates.

IDLO is committed to achieving 50/50 gender balance at all levels within its workforce. Female candidates are strongly encouraged to apply for IDLO vacancies.

IDLO does not tolerate sexual exploitation or abuse, any kind of harassment, including harassment of a sexual nature, or discrimination. As such, IDLO will conduct careful reference and background checks of all selected candidates as part of its selection process. 

The Application Deadline is 3 October 2023

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DISCLAIMER
The above statements are intended to describe the general nature and level of the work being performed by the employee assigned to this work. This is not an exhaustive list of all duties and responsibilities. All applications will be treated with the strictest confidentiality and in compliance with IDLO’s policy on personal data protection. The Director-General of IDLO reserves the right to amend and change responsibilities or even to cancel the recruitment to meet business and organizational needs as necessary.