Senior Financial Oversight Expert - REMIT Programme

Background
The Revenue Mobilisation, Investment and Trade (REMIT) is a multi-year (2021–2027) programme funded by the UK’s Foreign, Commonwealth and Development Office (FCDO) and implemented by Adam Smith International (ASI). REMIT provides technical assistance to the Government of Pakistan to strengthen macroeconomic stability, improve growth conditions, and enhance poverty reduction efforts.

The IMF carries out Governance and Corruption Diagnostic Assessment (GCDA) which is a country-requested assessment designed to identify economic and governance vulnerabilities with macro-critical implications and to support the design of prioritised time-bound reforms. It operationalises the IMF’s 2018 framework for systematic engagement on governance and corruption by examining institutional arrangements that materially affect fiscal stability, growth, and inclusion. This is a crucial pre-condition for Pakistan’s economic growth and development.

A GCDA has been carried out by the IMF for Pakistan in 2025. The GCDA is a tool to identify critical vulnerabilities to economic growth, while the GAP is to fix critical economic vulnerabilities hindering economic growth.

The IMF mission conducted preliminary assessments across six core state functions: (i) fiscal governance (public financial management, tax, SOEs, and procurement), (ii) central bank governance and operations, (iii) financial-sector oversight, (iv) market regulation, (v) the rule of law (including conflict-of-interest and asset-declaration regimes), and (vi) money laundering and countering the financing of terrorism (AML/CFT) where corruption proceeds interface with the financial system.

Activity Context
At the request of the Ministry of Finance, REMIT is supporting the development of a Three-Year Governance Action Plan (GAP) to implement the recommendations from the IMF’s Governance and Corruption Diagnostic Assessment (GCDA). The GAP will translate around the GCDA recommendations across six governance areas into actionable and time-bound reforms to fix critical vulnerabilities to economic growth. The six areas are fiscal governance, central bank, financial oversight, market regulation, rule of law and AML/CFT.

Job Summary

The Senior Financial Oversight Expert will review key gaps in supervisory frameworks, governance, and transparency mechanisms that have macro-critical implications and develop priority reform actions addressing financial integrity, supervision, and accountability.

Duties and Responsibilities

·       Review the GCDA recommendations related to financial-sector oversight (including SBP, SECP, and financial regulatory institutions).

·       Identify key gaps in supervisory frameworks, governance, and transparency mechanisms that have macro-critical implications.

·       Develop priority reform actions addressing financial integrity, supervision, and accountability.

·       Align proposed actions with ongoing financial-sector reforms and IMF technical assistance.

·       Contribute to the Action Plan matrix with concrete measures, responsible entities, timelines, and indicators.

·       Support consultations with regulatory institutions and development partners to validate feasibility.

Deliverables