Futures & Forwards Consultant at Nathan Associates

About The Job
Position Summary:
The Ghana Commodity Exchange (GCX) seeks to introduce new financial products and deepen the country’s capital market. 
GTI will collaborate with GCX to develop a framework for innovative financing instruments for commodities, in an effort to develop suitable products. 
To achieve this, GTI will engage the services of an international consultant, on a short-term basis, with experience and knowledge in the mechanics, operations, and design of financial products for commodities;

• The consultant will develop a framework and guidelines for the introduction of futures and forward financial instruments on traded commodities at the GCX. 
• The framework will provide the legal basis for regulating trading in futures, protecting the lawful rights and interests of traders, and promoting futures and derivative markets to serve the real economy. 
• The achievement of this objective will mark a new chapter in the development of financial instruments in Ghana. 

The framework to be developed will include:

• Contract types and sizes
• Traceability and trading rules
• Product quality, standardization, and grading issues
• Clearing and settlement rules
• Conciliation and arbitration
• Settlement Guarantee Fund
• Customer protection
• Market information dissemination
• Market surveillance
• Compliance

Function Note:

• Conduct desk and literature reviews of existing frameworks and best practices;
• Create a pros and cons analysis of futures and forwards;
• Validate recommendations with stakeholders;
• Design and develop a framework;
• Develop a futures guidelines document.

Requirement Note:

• Minimum of a bachelor’s degree in Law, Finance, or Public Policy;
• Ten or more years of professional experience in government, financial markets, or a related field;
• Demonstrated experience in developing futures and forward financial instruments;
• Demonstrated experience in commodities and equity/fixed income exchanges;
• Demonstrated ability to interact with government and other public stakeholders in developing countries in the English language;
• Experience working with USAID and/or other international donors preferred; and
• Experience working in West Africa preferred.