Visiting Scholar (Contractual) - MCMDM

International Monetary Fund • Washington DC, DC

8d • Remote

About The Position

The International Monetary Fund (IMF) is seeking a Visiting Scholar to develop the first module of a practical guidance package on engagement with credit rating agencies (CRAs). This package will be organized around four modules, with Module 1 focusing on CRA Sovereign Risk Assessment Frameworks, including an overview of major methodologies, key quantitative and qualitative risk drivers, and areas of divergence across agencies. The assignment will deliver a concise guidance note structured around the four modules, operational tools such as briefing templates, standardized data templates, and engagement checklists, and training materials for a two-day workshop. All outputs are expected by April 30, 2027, and will be designed for direct use by debt management offices and adaptable to country contexts. Credit ratings significantly influence sovereign borrowing costs, market access, and investor perceptions. Many debt management offices face challenges in effectively engaging with CRAs due to limited familiarity with methodologies, fragmented information provision, and weak inter-institutional coordination. This assignment aims to provide practical, user-focused guidance to enhance engagement practices, improve transparency and consistency in communications, and deepen the understanding of how policy choices impact rating outcomes. Specialized expertise in sovereign credit rating methodologies and engagement practices is required, which is not readily available in-house. The proposed expert's extensive practical experience from a credit rating agency is critical for ensuring the guidance is technically sound, credible, and operationally relevant. Additional support is needed to deliver this work in a timely manner while aligning with the division's broader agenda on debt management and investor relations.

Requirements

• Specialized expertise in sovereign credit rating methodologies.
• Expertise in credit rating agency engagement practices.
• Extensive practical experience from a credit rating agency.
• Ability to develop practical, user-focused guidance.
• Ability to improve transparency and consistency in communications.
• Ability to enhance understanding of how policy choices influence rating outcomes.
• Ability to work within the division’s broader agenda on debt management and investor relations.

Nice To Haves

• Familiarity with major CRA methodologies.
• Understanding of key quantitative and qualitative risk drivers in sovereign risk assessment.
• Knowledge of financing strategies, fiscal frameworks, and macroeconomic performance influence on credit assessments.
• Experience with investor relations practices and communication during market stress or liability management operations.
• Experience in managing routine reviews, outlook changes, and potential downgrades with CRAs.
• Experience in developing training materials and conducting workshops.

Responsibilities

• Develop the first module of a practical guidance package on engagement with credit rating agencies (CRAs), focusing on CRA Sovereign Risk Assessment Frameworks.
• Organize the guidance package around four modules: CRA Sovereign Risk Assessment Frameworks, Linkages Between Debt Management, Fiscal Policy, and Ratings Outcomes, Engagement and Communication Practices, and Managing Ratings Processes and Adverse Developments.
• Deliver a concise guidance note structured around the four modules.
• Develop operational tools, including briefing templates, standardized data templates, and engagement checklists.
• Create training materials, including presentations and supporting templates for a two-day workshop, with simulation exercises and case studies.
• Ensure all outputs are designed for direct use by debt management offices and are adaptable to country contexts.
• Ensure the guidance is technically sound, credible, and operationally relevant, leveraging practical experience from a credit rating agency.

What This Job Offers

• Career Level: Senior
• Education Level: No Education Listed