Capital Market Authority (CMA) is a specialized organ established by Law No.057/2021 bis of 18/09/2021 with dual mandate of developing and regulating the capital market industry, commodities exchange and related contracts, warehouse receipts systems and collective investment schemes. It operates under the supervision of the Ministry of Finance and Economic Planning (MINECOFIN).CMA is an active member of the East African Securities Regulatory Authorities (EASRA, and an associate member of the International Organization of Securities Commissions (IOSCO).

Website: https://www.cma.rw

JOB VACANCY ANNOUNCEMENT

Background

Capital Market Authority (CMA) is a specialised organ established by Law No.057/2021 bis of 18/09/2021 with dual mandate of developing and regulating the capital market industry, commodities exchange and related contracts, warehouse receipts systems and collective investment schemes. It operates under the supervision of the Ministry of Finance and Economic Planning (MINECOFIN).

CMA is an active member of the East African Securities Regulatory Authorities (EASRA, and an associate member of the International Organization of Securities Commissions (IOSCO).

JOB DESCRIPTION

MANAGER- LEGAL AND REGULATORY FRAMEWORK

Job Purpose

Reporting to the Head- Legal and Corporate Affairs, the Manager-Legal and Regulatory Framework is responsible for levitative drafting and related regulatory framework, legal interpretations and technical advisories related to capital markets, collective investment schemes, commodity exchange and related contracts, warehouse receipts system and any other market segments as may be assigned by Law. The post holder is also responsible for providing information on the Board of Directors best practices and tailoring the Board of Directors’ governance framework to fit the needs of the Authority. He/she supports the Board of Directors in carrying out its mandatory duties. They also ensure that the Authority complies with relevant legislation and regulation and keeps Board members informed of their legal responsibilities.

Job Functions

  • Advising Management on appropriate legal frameworks to support market development and regulation of the capital markets, collective investment schemes, commodity exchange and related contracts, warehouse receipts system; and any other market segments as may be assigned by Law;
  • Drafting of legal and regulatory frameworks for various new products and services as and when need arises;
  • Playing the key strategic liaison between the Authority with relevant domestic, regional and international stakeholders from both the public and private sectors with respect to legislative and regulatory development process;
  • Coordinating the Authority’s representation in domestic, regional and global committees such as the International Organization for Securities Commission (IOSCO) Committee on Growth and Emerging Markets (GEM), IOSCO Africa/Middle-East Regional Committee (AMERC), etc. and providing secretariat support where necessary;
  • establishment and implementation of domestic, regional and global cooperation with other regulatory authorities for the development and regulation of cross border activities.
  • Advising Management on establishment and managing relationships with regulatory bodies (local, regional and international) and other strategic partners on areas of mutual interests;
  • Acting as a strategic link between the Authority and its key partners as well as external stakeholders;
  • Providing leadership and policy direction on legal issues;
  • Formulating, implementing and reviewing of legal policies, strategies, business processes and procedures;
  • Negotiating contracts; provision of advices on appropriate legal action in case of breach of obligations;
  • Providing secretariat services to the Board of Directors;
  • Preparing the annual budget for the Department, business activities of the Board of Directors, calendar of Board of Directors meetings, events and work plans;

MANAGER – LEGAL AND REGULATORY FRAMEWORK

Job Specifications

The duties and responsibilities entail:

Legal and Regulatory Framework

  • Advising Management on appropriate legal frameworks to support market development and regulation of the capital markets, collective investment schemes, commodity exchange and related contracts, warehouse receipts system; and any other market segments as may be assigned by Law;
  • Drafting of legal and regulatory frameworks for various new products and services as and when need arises;
  • Playing the key strategic liaison between the Authority with relevant domestic, regional and international stakeholders from both the public and private sectors with respect to legislative and regulatory development process;
  • Coordinating the Authority’s representation in domestic, regional and global committees such as the International Organization for Securities Commission (IOSCO) Committee on Growth and Emerging Markets (GEM), IOSCO Africa/Middle-East Regional Committee (AMERC), etc. and providing secretariat support where necessary;
  • establishment and implementation of domestic, regional and global cooperation with other regulatory authorities for the development and regulation of cross border activities.
  • Advising Management on establishment and managing relationships with regulatory bodies (local, regional and international) and other strategic partners on areas of mutual interests;
  • Acting as a strategic link between the Authority and its key partners as well as external stakeholders;

Legal Advisory, Contracts and Litigation

  • Preparing, reviewing and clearing contracts and cooperation agreements for the Authority;
  • Drafting legal opinions on issues pertaining to the Authority’s mandates and/or issues arising from its engagement with internal and external stakeholders;
  • Drafting, reviewing and clearing contracts for the procurement of external services as required by the Authority;
  • Liaising and working closely with advocates of contracting parties to ensure effective delivery of services;
  • Providing legal advice to Staff as may be required from time to time;
  • Maintaining and updating a secured database of all the Authority’s contracts/agreements, track their validity and periodically advise user-departments on contract/agreement expiry dates for appropriate and timely actions (renewal with existing stakeholders, engagement of new stakeholders, etc.);
  • Continuous and periodic review of executed contracts to ensure effective contract management;
  • Undertaking research on best practices on contract management and execution;
  • Leading and managing representation of the Authority in hearings in courts, tribunals and other relevant forums;
  • Participating in litigation matters through research, compiling of evidence and related business activities;
  • Undertaking any other duties as may be assigned from time to time.

Board Coordination

  • Preparing the calendar and budget for Board meetings and/or Board business activities;
  • Coordinating logistics for planned Board meetings, induction, training and events for Board members;
  • Undertaking preparation of Board Committee and Full Board meetings and produce meeting minutes/resolutions in the absence of the Director in charge of Corporate Secretary;
  • Liaising and coordinating with Directors/Managers for a timely implementation of Board resolutions;
  • Preparing draft routine correspondences on behalf of the Directorate in charge of Corporate Secretary and Legal Affairs;
  • Facilitating an effective and efficient communication for the Board;
  • Undertaking legal research as and when required;
  • Coordinating travel logistics for Board members; and
  • Undertaking any other duties as may be assigned from time to time.

Recognized Qualifications

For appointment to this position, a candidate must have:

  • Master’s Degree in any of the following fields: Law, Business Law, Commercial Law or any other field related to the position;
  • Professional qualifications in legal practices such as a valid certification from the Rwandan Institute of Legal Practice and Development (ILPD) or its equivalent;
  • At least five (6) years of related work experience for Senior Manager and five (5) for Manager; please attach evidence
  • Demonstrating skills on legal research, legal analysis, writing reports and documents;
  • Meet the requirements of the Statute governing the management of CMA staff.
  • Knowledge of capital markets is an added advantage

Skills and Abilities

  • Strong written and verbal communication skills, including the ability to prepare and present reports or recommendations to the Management and Staff;
  • Excellent computer literacy skills including knowledge of Microsoft Office, E-mail, Internet, website navigation, and report writing tools;
  • Ability to work independently and as part of a team.

Application procedure

Interested and qualified candidates should submit their applications online to the following email: recruitment@cma.rw. Applicants must submit the following documents in PDF format:

  1. An application letter addressed to the Chief Executive Officer
  2. A detailed Curriculum Vitae
  3. Copy of academic degree(s) and Certificates
  4. Proof of previous relevant working experience
  5. Copy of National Identity and/ or passport

The deadline for submission of applications is 1st November 2024.

For more details, please refer to CMA website https://www.cma.rw/ under careers.

Capital Market Authority