FINANCIAL REPORTING CENTER

The Financial Reporting Center (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;

ABOUT IDLO

As the only intergovernmental organization exclusively devoted to promoting the rule of law, IDLO works to enable governments and empower people to reform laws and strengthen institutions to realize justice, peace and sustainable development. Its programs, research and policy advocacy cover the spectrum of rule of law from peace and institution building, to social development and economic recovery in countries emerging from conflict and striving towards democracy. For over 33 years IDLO has supported emerging economies and middle-income countries to strengthen their legal capacity and rule of law framework for sustainable development and economic opportunity. IDLO enjoys Observer Status at the United Nations General Assembly. Its headquarters are in Rome, with a Branch Office in The Hague, liaison offices for the United Nations in New York and Geneva, and Country Offices in Afghanistan, Honduras, Indonesia, Kenya, Kyrgyzstan, Liberia, Mali, Mexico, Mongolia, Myanmar, the Philippines, Somalia, Tajikistan, Tunisia, Uganda, and Ukraine.

THE POSITION

IDLO and FRC seek to recruit an Institutional Capacity Development Mentor that will be recruited into and embedded within the Financial Reporting Centre’s Office in Mogadishu for an initial duration of 5 months with possibility of 18-month 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:

• Advise and support the FRC on institutional development matters including on the most effective internal institutional set-up, and the development of appropriate systems and SOPs to enhance the FRC workflow management and task assignment and tracking;
• Advise and support the FRC with the preparation of institutional capacity assessments, capacity development plans and the effective implementation of FRC capacity development strategies;
• Provide technical assistance, training and mentoring advice and support capacity building of FRC staff in line with FRC capacity development plans;
• Advise and support the FRC with the formulation of key institutional documents and strategies including the FRC communication strategy, FRC strategic plan and the FRC annual 2021 FIU report;
• In close collaboration with other FRC Departments support the FRC with the operationalization of the FRC reporting systems and procedures;
• Advise and 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 Understandings, 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; and
• Perform other work-related duties as required.

IDEAL CANDIDATE PROFILE

Education/Work experience

• Advance University degree in Economics, Finance, Law, Criminology or related field;
• Minimum 8-10 years of relevant professional experience in managing or working at a senior management level in an operational Finance Intelligence Unit;
• Extensive experience and knowledge of AML/CFT issues at senior level; and
• Good experience in the development of institutional capacity needs assessments and capacity development strategies and action plans.

Specific knowledge, skills and competencies

• Experience in Somalia or working in high-risk environments and under stressful conditions is highly desirable;
• Strong communication and interpersonal skills, and the ability to develop excellent relations with Somali counterparts and donor officials;
• Previous experience of goAML an asset; and
• Ability to live, work, and travel in Somalia.

Languages

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