Senior Expert on Capital Markets in Fond arhitekturi reform v Ukrayini (Fond ARU)

The Recovery and Reform Support Team (RST) at the Ministry of Economy, Environment and Agriculture of Ukraine (Ministry) is a group of Ukrainian professionals (non-civil servants) funded on a temporary basis through the Ukraine Recovery and Reform Architecture (URA) programme that provides targeted technical support and assists the Ministry in the design and implementation of priority reforms. The RST will assist in filling capacity gaps in the design and implementation of priority reform strategies and programmes, while strengthening links and partnerships between the Ministry’s priorities and relevant donor support.

Detailed description of the vacancy can be found via the link: https://surl.li/wxaego 

Main Duties / Responsibilities and Deliverables

The Senior Expert on Capital Markets will be expected to perform the following tasks:

• support the implementation of the MoU with the European Bank for Reconstruction and Development (EBRD) on capital market development and in particular the initiative of the vertical integration of Ukraine’s capital markets infrastructure (CMI);

• analyse and coordinate implementation of MoU commitments, participate in relevant meetings of the Working Group (WG) on the vertical CMI integration initiative, track reform implementation, and identify potential risks or gaps;

• work on the implementation of agreed legal reforms and regulatory acts within the mandate of the Ministry, including the preparation of the tender documentation for attracting a strategic investor into Ukraine’s CMI to enable the development of a new Ukrainian exchange and vertically integrated CMI structure with the support of international partners;

• develop and lead a dedicated workstream aimed at mobilizing capital, including options for strategic tapping of capital markets as part of the SOE privatization agenda;

• provide analytical and technical support for the design and preparation of an incentive mechanism aimed at promoting capital markets issuance;

• facilitate coordination with the CMU, MoF, National Bank of Ukraine (NBU), NSSMC and international partners (EBRD, World Bank, International Monetary Fund etc); 

The Senior Expert on Capital Markets will be expected to provide the following deliverables:

• regular progress reports, presentations and data tables on the implementation of the Memorandum of Understanding (MoU) with the EBRD, including updates on achieved milestones, outstanding actions, and identified risks;

• technical notes and recommendations for improving regulatory predictability and simplifying procedures for issuing securities and listing to enhance investor protection, transparency, and market oversight mechanisms;

• draft regulation launching the tender procedure for selecting strategic investor(s) for capital market infrastructure (in coordination with CMU, MoF, NBU and NSSMC);

• technical inputs and legal-analytical support materials for the preparation of related regulatory acts and CMU decisions;

• comparative analysis of international practices on capital market infrastructure governance and strategic investor involvement;

• design and implementation roadmap for the capital mobilization workstream, including targets, milestones, expected outputs, and KPIs;

• recommendations on market-based instruments aimed at mobilizing domestic and foreign capital;

• analytical study assessing barriers to capital markets issuance and a comparative assessment of potential incentive mechanisms implemented in other countries, resulting in recommendations to boost the placement of securities on public capital markets in Ukraine.

• minutes, action points, and coordination matrices from meetings with CMU, MoF, NBU NSSMC, international partners, and market stakeholders.

• inputs to joint working groups on capital market development, including the WG on the vertical CMI integration initiative.

The specified list of tasks and deliverables may be adjusted or expanded upon request from the Ministry.

Qualifications, skills, and experience

Qualifications and skills:

• master’s degree in Finance, Economics, Business Administration or related fields;

• solid understanding of capital markets regulations, securities law, corporate governance standards, and compliance frameworks;

• strong analytical and quantitative skills to interpret market trends, policy impacts, and financial reports;

• deep expertise in equity, debt, derivatives, and structured financial products;

• ability to evaluate investment products, assess risks, and perform due diligence;

• сapacity to develop strategies for market development, investment promotion, and financial sector reforms;

• excellent organisational skills and ability to manage multiple tasks under tight deadlines;

• proficiency in MS Office (Word, Excel, PowerPoint, Project);

• fluency in Ukrainian and English.

Professional experience:

• minimum of 5 years of general professional experience in capital markets, investment banking, securities regulation, financial advisory or government/international financial institution cooperation;

• proven experience of designing, implementing, and monitoring capital market reforms and regulatory frameworks;

• experience with market infrastructure institutions such as stock exchanges, central depositories, and clearing houses.

• experience in public finance, public-private partnerships or reform implementation will be an advantage. 

Other skills/experience:

• proven ability to coordinate complex inter-institutional processes and communicate effectively across stakeholders;

• previous experience working for international organisations or government agencies is an asset.

• familiarity with Ukraine’s reform agenda and international financial cooperation frameworks.

Submissions must be prepared in English only and be delivered electronically by 22 March, 23:59 (Kyiv time) to [email protected].  All submissions must include a completed Application form, NDA Form, the candidate’s Curriculum Vitae, contact details of three referees who, if contacted, can attest to the professional and/or educational background of the candidate. 

Only applications which have been submitted using the correct template and are fully completed, will be considered.