Cardno Emerging Markets USA, Ltd. (Cardno) is seeking a Factoring Law Specialist (Consultant) for a short-term assignment on the USAID funded Business Environment Project in Serbia.
The Serbia Business Enabling Project (“BEP”) is a five-year USAID-funded project awarded to Cardno Emerging Markets USA, Ltd. to assist the Government of Serbia (GoS) to strengthen the business environment, fiscal and macroeconomic management, financial market development, and business education throughout the country. It will provide long-term technical assistance and other financial support to help advance legal and regulatory reforms, build institutional and professional capacity, improve public education, and other activities as may be requested by the GoS. The project is organized around four components, each implemented by a resident team of Serbian and international professionals: Component 1 – Business Regulation and Economic Governance; Component 2 – Macroeconomic Policy and Public Financial Management; Component 3 – Financial Markets Development; and Component 4 – Business Education Partnerships.
BEP Component 3, Financial Market Development, will help Serbian financial markets to increase competitiveness and affordability of financial services, and develop risk management instruments. This will include technical assistance to help counterparts draft or/and implement new legislation, strengthen their institutional capacity, and help to influence policies that will shape the evolution of the financial sector and its role in economic development.
The overall aims of BEP are:
Establish a regulatory framework and supervisory capacity that supports development of well regulated, transparent, and competitive capital market;
Support development of the financial industry that can mobilize savings and supply new financing in the economy;
Create/improve the regulatory framework for non-banking financial institutions;
Improve/introduce financial instruments for risk management;
Improve policies and public-private dialogue;
Strengthen compliance with EU accession requirements.
The Ministry of Finance (MoF), the Securities Commission, the Ministry of Agriculture, Trade, Forestry and Water Management, the Ministry of Economy and Regional Development are the main public sector counterparts for BEP work under this component.
Objective of the Assignment: Provide expert assistance to help get a new Factoring Law drafted in compliance with international standards and best practice, and assist in outlining and reviewing factoring regulations. The aim of the Factoring Law is to offer a legal framework that can provide companies with more finance and choice of financing.
The Consultant will adhere to a schedule of tasks and provide advisory support to the working group to outline the Factoring Law in the matters covered by the task areas named below.
Assess the requirements and specifics of factoring and factoring regulations.
Prepare a comparative analysis of best international practices regarding factoring law and recommendations for Serbia;
Assist in the development of an outline of a Factoring Law;
Review draft legislation prepared by the working group related to factoring and recommend improvements;
If necessary, making recommendations for additional new legislation, regulations, or amendments of other existing regulations, that are necessary to provide good regulations related to factoring;
Provide advice and consultations on factoring, as necessary.
Period of Performance: The assignment will take place within a six month period for 25 days.
Deliverables (Specific work product to be developed by Consultant in cooperation with the MoF and the working group includes):
Written comparative analysis of best international practices regarding factoring law recommendations for Serbia
Written outline of the regulations regarding factoring
Written comments and recommendations on the legal draft regarding factoring contracts by the working group
Written comments and recommendations on the finalized legal drafts prepared by the working group; this should include recommendations for additional improvements and compatibility with other existing regulation
Draft outlines of additional regulations proposed by the Consultant
Written final STTA report/memo on the work performed and results achieved.
Must have law degree and legal experience in advising governments on drafting factoring law legislation
Experience working in developing countries
Excellent verbal and written English language skills
Please go to the job posting on Cardno’s website, and click the Apply Online button.
No telephone calls, please. Finalists will be contacted.
Cardno Emerging Markets USA, Ltd. is part of Cardno’s Emerging Markets Division, with offices in Brussels, Jakarta, Melbourne, Nairobi, Oxford, Port Moresby and Washington, DC and project locations worldwide. Cardno’s Emerging Markets Division is responsible for $750 million in funds under contracts and grants and engages over 4,000 professionals in more than 100 countries.
Cardno provides professional services to create better communities across the globe through planning, design and delivery of physical, economic and social infrastructure.
Visit our website at www.cardno.com/emergingmarkets – to learn more about Cardno Emerging Markets USA, Ltd.