Consultancy – Mutual Evaluation Expert/Mentor

Overview & Responsibilities

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, analysing 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:

 

Receiving, analysing and disseminating reports suspected of money laundering and terrorism financing

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

The Middle East and North African Financial Action Task Force (MENAFATF) is a FATF-Style regional body that works to combat money laundering and terrorist financing in the Middle East and North Africa region. Somalia has been a member of MENAFATF since 2018 and is scheduled to undergo its first Mutual Evaluation Review (MER) in 2024. As a comprehensive assessment of a country’s AML/CFT framework, the MER will examine the legal and regulatory framework, the implementation of AML/CFT measures, and the effectiveness of Somalia’s AML/CFT regime. The review will identify areas where Somalia’s AML/CFT system can be improved and will contribute to strengthening the country’s capacity to combat money laundering and terrorist financing in the long run.

The International Development Law Organization (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 including in Afghanistan, Honduras, Indonesia, Kenya, Kyrgyzstan, Liberia, Mali, Mexico, Mongolia, Myanmar, the Philippines, Somalia, Tajikistan, Tunisia, Uganda, and Ukraine.

A highly qualified Mutual Evaluation Expert/Mentor is sought to support the FRC in its preparations for the upcoming MENAFATF mutual evaluation. This critical role will be embedded within the FRC’s office in Mogadishu for an initial period of 12 months, with the possibility of extension based on performance and funding availability. The successful candidate will provide technical expertise, guidance, and mentorship to the FRC throughout the MENAFATF mutual evaluation process.

In particular, the successful candidate will:

• Provide training and guidance to the FRC on the FATF mutual evaluation methodology and process.
• Provide technical assistance and expertise to the FRC and other competent AML/CFT authorities in preparing for the upcoming evaluation, including identifying gaps and areas for improvement in the AML/CFT regime.
• Support the FRC in responding to the technical compliance and effectiveness submissions as required by the MENAFATF as well as addressing the assessment team’s questions during their on-site visit.
• Facilitate the participation of relevant public and private sector institutions and personnel in interviews with the MENA FATF evaluators.
• Provide technical assistance during the on-site visit by MENAFATF evaluators, including supporting meetings and presentations.
• Conduct mock interviews with the FRC team and other stakeholders to simulate the evaluation process and enhance interview readiness.
• Offer technical assistance in the post-evaluation stage, including supporting the FRC in reviewing Somalia’s draft Mutual Evaluation Report and Action Plan.
• 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 and Professional Experience

• Minimum bachelor’s degree in in Economics, Finance, Law, Criminology or related field;
• 12-15 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.

Languages

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

Specific knowledge, skills and competencies 

• Previous experience of participating as an assessor in an AML/CFT mutual evaluation exercise;
• 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.

IDLO is an equal opportunity employer and values diversity in all areas of its operations. We welcome applications from qualified and diverse candidates. IDLO is committed to achieving a 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 on all selected candidates as part of its selection process.

In the interest of making the most effective use of resources, only the short-listed candidates will be contacted during the selection process.

 

Application Deadline: 18 October 2024 (23:59hrs, Rome time).