Developing curricula and delivering trainings in the area of municipal bonds

Reform and strengthening of the local governance system in Montenegro is progressing. The Government of Montenegro has developed and adopted several strategic policy documents for further development of the local governance system. These documents set up the basis for the amendments to the overall legal system for functioning of municipalities; hence, the new legal framework was adopted (changes in the Law on Local Self Government, the Law on Local Self Government Financing, adoption of the Strategy for Regional Development and the Law on Regional Development, adoption of the AURUM- Strategy for Public Administration Reform). Significant step was made in the fiscal decentralisation in Montenegro with the adoption and implementation of the Law on local self-government financing. The Law, in line with the EU best practices, brought about changes in intergovernmental fiscal relations, more transparency and equity. However, following the underinvestment of the 1990s and the decentralization of various responsibilities to local governments in Montenegro, it is no longer possible to finance the necessary infrastructure investments on a pay-as-you-go basis. Therefore, local governments in Montenegro are increasingly forced to raise revenues from their own resources and to access domestic and international financial markets. Still, the mechanism of municipal bonds is new to Montenegro and its benefits are not known to the local administrations, and therefore should rapidly be clarified and brought to the attention of all concerned – municipalities, investors, those who mediate or regulate and the public. Enhanced functioning of municipal bonds market is a part of a broader development of the capital market/ securities market in Montenegro, which is not at the full speed. In order to continue building transparent and accountable public finance system at the local level there is a need to improve overall municipal budgeting process, support fiscal equalisation system and mechanisms at the same time to explore possibilities for issuing municipal bonds for financing of capital infrastructure. Therefore, the overall objective of the project “Strengthening mechanisms for public finance at the local level in Montenegro” is to facilitate socio-economic development at the local level through strengthening accountable, transparent and results oriented public finance mechanisms.

Duties and Responsibilities

Objectives of the assignment: The purpose is to recruit an international consultant to design training curricula and deliver trainings in the area of municipal bonds, mostly focusing on EU and regional best practices in the process of issuing municipal bonds. The key target group will be representatives from all municipalities in Montenegro (21 municipalities), working in finance departments and municipal senior managers. Job content: Under the guidance of the UNDP Programme Manager for Local Governance Programme, an international consultant will conduct following main activities: Liaise and ensure constant communication/coordination with UNDP project team and national consultant. Prepare a work plan with time-table for an assignment. Conduct an analysis/assessment on municipal bonds system in Montenegro and relevant countries from the region and EU. Design one specialized high-quality tailor-made training curricula on municipal bonds and deliver two regional two-day trainings (south and north region of Montenegro) for target group representatives. Prepare trainings agenda and lead the delivery of trainings (having presenter/trainer/facilitator role). The expected results: Under the supervision of the UNDP Programme Manager for Local Governance Programme, international consultant is expected to deliver the following results: Detail plan of activities with time-table for an assignment prepared, approved by UNDP Montenegro. One specialized tailor-made curricula in the area of municipal bonds, approved by UNDP Montenegro. Two trainings delivered based on agreed curricula. Report for each conducted training prepared, summarizing all relevant information, such as participants structure, participants feedback on delivered training, discussion points, comments, suggestions. Final report on all activities undertaken under this assignment prepared, highlighting main results achieved and proposed recommendations in the area of municipal bonds. Timing and reporting: International consultant is expected to work home based and in Montenegro during the assignment duration (March 2012- May 2012). The international consultant will be responsible for written regular reporting to the UNDP Programme Manager for Local Governance Programme, and it should contain sufficient detail and information that would allow for the appraisal of the effectiveness to date of the assignment’s activities. Time duration and travel: The international consultant will be engaged under individual contract, for total of 13 consultancy days, in the period between March and May, 2012 (dates will be determined as soon as possible). During the 13 consultancy days, the consultant is expected to work from home in duration of 7 (seven) working days, and undertake one field visit to Montenegro, in duration of 6 (six) working days, and be able to travel throughout Montenegro, pursuant to the work plan of assignment’s activities. International and local travel costs and Daily Subsistence Allowance costs should be included in the lump sum figure.

Competencies

Demonstrates integrity by modeling the UN’s values and ethical standards' Promotes the vision, mission and strategic goals of UN/UNDP Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability; Ability to lead strategic planning, results-based management and reporting Builds strong relationships with clients, focuses on impact and result for the client and responds positively to feedback Consistently approaches work with energy and a positive, constructive attitude Demonstrates good oral and written communication skills Demonstrates ability to manage complexities and work under pressure, as well as conflict resolution skills.

Required Skills and Experience

Education: University degree, preferably in economics or financial management Experience: Minimum 8 years of relevant professional experience Proven expertise and experience in dealing with municipal bonds and knowledge of relevant EU practices, preferable working experience in EU countries and in the region of South-East Europe. Proven experience in capacity building of local administrations in the area of municipal bonds. Modern approach to delivery of policy/technical advice, and experience of working with ministries/local self-governments senior officials. Management experience, preferably within the context of international organization/local self-governments. Excellent knowledge of written and spoken English, whereas knowledge of the local language would be an asset. Excellent communication and presentation skills, demonstrated ability to facilitate/conduct trainings, workshops, etc. Excellent IT skills, including word-processing, database applications, presentation software, etc.

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.

developing curricula and delivering trainings in the area of municipal bonds