REQUEST FOR EXPRESSION OF INTEREST.
Mongolia has received a credit from the International Development Association (IDA) for the Strengthening Fiscal and Financial Stability Project (SFFSP). The Objective of the SFFS Project is to contribute to the Government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure. The project is designed into five components: (I) Strengthening Macroeconomic and Fiscal Management; (II) Improving the Efficiency of Public Financial Management; (III) Enhancing Financial Sector Stability; (IV) Strengthening the Social Protection System; (V) Project Management and Monitoring. The objectives are to: Strengthening fiscal responsibility and implementing relevant policy measures, improving fiscal discipline, strengthening the resiliency of the banking system, improving public expenditure quality in social protection, providing support for Project implementation, coordination, monitoring and evaluation, including, inter alia, audit arrangements, reporting requirements, procurement and financial management activities respectively. For more details, please refer to the Project Appraisal Document Report No. PAD2269.
In 2017, under the agreement between the Minister of Finance and the Governor of Bank of Mongolia, the total financing of MNT 356.6 billion was committed for the mortgage program. MNT 111 billion was allocated from the state budget, approved by the 2017 Budget Law, while MNT 242.6 billion was financed by the Bank of Mongolia from principal payments received from its mortgage backed bonds.
The Ministry of Finance (MOF) and the Bank of Mongolia (BOM) signed Memorandum of Understanding on November 28, 2017 to agree the following: i) In accordance with actions agreed under programs jointly implemented with international financial organizations, the Bank of Mongolia shall cease all quasi-fiscal programs and the Mortgage program shall be transferred to the Government of Mongolia (GOM) and the both parties shall jointly develop a plan for exit strategy for transferring the mortgage program to the Government by September 30, 2018. The exit plan should be approved by a joint resolution of the Minister of Finance and the Governor of Bank of Mongolia.
ii) According to the MoU, The Ministry of Finance is required to facilitate the transfer of the mortgage program and to develop a new program to achieve the goal of providing citizens with housing and a healthy and safe environment by reducing the air pollution as stated in “Action Program of the Government of Mongolia for 2016-2020” and “Economic Recovery Program.”
In this regard, Ministry of Finance is seeking to hire a National Individual Consultant to assist Financial Policy Department in transferring the mortgage program to the Government and formulating of a new government mortgage financing schemes to promote housing and reduce air pollution in the urban areas.

SCOPE OF THE ASSIGNMENT
The main objective of the National Individual Consultant is to assist the Financial Policy Department of MOF for formulating and supporting the policies and procedures of a new government financing mortgage program.
Key responsibilities of the local expert are following activities, but not limited to:
1.Coordinate between MOF and relevant international consultants on formulation of New Government subsidized mortgage program;
2.Assist drafting the regulation for GOM’s new mortgage program;  
3.Assist developing internal procedures for financing, monitoring and reporting the Government lending for mortgage loans and maintain the accounts of such lending;
4.Assist drafting the transfer plan for the mortgage program;
5.Assist Financial Asset Management Division of Financial Policy Department to manage and securitize current mortgage assets in commercial banks;
6.To consult with the key stakeholders and organize the working group meetings and make translations;
7.Undertake such other tasks as reasonably requested and/or assigned by the FMID, MOF;

SHORTLISTING CRITERIA/CONSULTANT’S QUALIFICATIONS:
 Education: Candidate should have at least bachelor degree in economics, finance, public policy, business administration or other related fields;
 Experience:  Incumbent should have at least 5-10 years of relevant professional experience in financial asset management field and developing legislation, conducting financial and economic analysis; and an excellent understanding of Mongolian capital market’s current condition, and its challenges, laws, and regulations;
 Language skills: Academic written and spoken skills in English and Mongolian;
 Other skills:
a. Excellent interpersonal skills with the ability to function effectively and collaboratively in a team environment;
b. Be proficient in PC based applications such as Word, Excel and data management, and have excellent web research and navigation skills;

CONTRACT DURATION:
The consultant is expected to commence working effective from June 2018. The duration of the assignment is 6 months. The consultant will be selected in accordance with the World Bank’s Procurement Regulations for IPF Borrowers (July 2016).

If you possess the above qualifications, please submit following documents in person:
    Cover letter indicating why she/he considers her/himself suitable for the position,
    Detailed CV highlighting relevant skills/experience,
    Copy of diplomas or certificates and,
    2 reference letters from previous last two employers no later than 17:00, June 25, 2018.

The submitted documents will not be returned to the applicants. Please be noted that incomplete applications would not be considered for evaluation. Only selected candidates will be contacted. Candidates can be interviewed. Detailed terms of reference can be requested from procurement@sffs.mn Contact address: Attn: Ms.Khaliun, Procurement Specialist, Strengthening Fiscal and Financial Stability Project
Room #204, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia; Tel: 70120582

70120582