VACANT POSITION
Central Banking Governance Adviser - TASP
Position Description: Central Banking Governance Adviser - TASP
Work Location: Tonga
City: Nuku'alofa
Job Code: 4880
Job Brief
Central Banking Governance Adviser - TASP
Program Background
Australia’s Department of Foreign Affairs and Trade (DFAT) has invested in economic and public sector governance programs since 2009. The Tonga Australia Support Platform (TASP) is a mechanism which supports the work of the Australian Government in meeting development objectives. TASP has managed technical advisers in the areas of ministerial policy advice, PFM, procurement and HRD since 2022. In 2025, DFAT launched the Kafa Taha program in partnership with the Government of Tonga, in which Kafa Taha provides ongoing technical support from TASP. TASP leverages Australia’s bilateral budget support (managed separately by DFAT) to progress central government ambitions for key reforms that will bring benefits to the entire machinery of government. The Kafa Taha has four End of Investment Outcomes (EOIOs) that contribute to the overall objective of supporting a peaceful, stable Kingdom of Tonga:
- Ministry of Finance reforms and implements more effective and accountable PFM.
- Government of Tonga budget allocation and execution includes quality expenditure for improved and inclusive social wellbeing of Tongan people.
- Key agencies strengthen public service management for improved accountability and performance
- Government of Tonga finances and implements priority economic resilience reforms
About DT Global Asia Pacific
At DT Global Asia Pacific, we aim to positively impact people’s lives through delivery excellence. As a leading implementing partner across Asia and the Pacific, we co-create locally led solutions in partnership with governments, communities, and stakeholders. We bring together talented teams and deep regional expertise to deliver initiatives that promote inclusive economic growth, essential services, and resilient, secure communities. With over 1,500 staff, experts in 22+ countries and more than 60 years of development experience, we tackle complex community, national and transnational challenges — from governance and justice systems to climate resilience, infrastructure and social equity — with innovative thinking and a commitment to long-term impact.
For more information, please see www.dt-global.com
The Role
The purpose of this position is to support the National Reserve Bank of Tonga (NRBT) in developing and strengthening its institutional governance framework. This will enhance the Bank's effectiveness, independence, accountability, transparency, and public trust as Tonga's central bank, while aligning with international best practices for central bank governance (including principles from the BIS, IMF, and relevant regional standards). NRBT governance failures incur a high cost. In addition to causing reputational damage, such failures have severe financial impact by giving rise to losses which could amount to percentage points of inflation and GDP.
Specific Objectives include:
- Ensure effective Board oversights i.e. decision-making responsibility through which the Board ensures that NRBT is well-managed by finalizing and strengthening core governance documents, particularly the Board Rules 2021 (currently in draft), the Board Audit and Risk Committee (BARC) Charter, and the Internal Audit Charter and Policy.
- Developing robust supporting policies on conflict of interest, fraud prevention, and whistleblower protection to promote integrity and ethical conduct to align with the NRBT Prudential Banking Standard (9) for governance.
- Clarifying the respective roles of the Board (oversight and strategic direction) and management (day-to-day operations and policy execution), with particular emphasis on Board oversight of core central banking functions such as monetary policy and financial stability.
- Particular attention must be taken to ensure that NRBT’s public policy formulation is not hampered by oversight through an excessively wide definition of oversight powers. Where a conflict with policy formulation could occur, clarifying that policy formulation takes precedence over the oversight decisions.
- Fostering consensus between the Bank's career staff and the Board members through inclusive, transparent, and facilitative processes
Roles And Responsibilities
The Adviser will work closely with the Governor, Board Chair, the BARC, and relevant NRBT staff, as well as other TASP advisory support units. Specific responsibilities include:
A. Board Rules 2021 (Draft) – Expansion and Finalization
- Review and substantially expand the existing draft Board Rules 2021 to ensure it serves as a comprehensive, practical governance manual.
- Liaise with NRBT Board and staff to build consensus on priority issues within the NRBT, including identifying the appropriate number of board meetings per annum, identifying clear procedures for managing conflicts of interest at the Board level, and clarifying decision-making processes and information flows between management and the Board.
- Ensuring that the rules place a strong emphasis on the Board’s oversight role over core Bank functions, particularly monetary policy formulation and implementation, financial stability, payment systems, foreign reserves management, and banking supervision.
- Facilitate broad consultation with both Board members and senior management to build ownership and consensus on the revised Rules.
- Support the Board in reviewing, approving, and subsequently implementing the final document.
B. Board Audit and Risk Committee (BARC) Charter
- Review and update the February 2023 Board Audit Committee Charter to reflect its evolution into the Board Audit and Risk Committee (BARC).
- Align the Charter with relevant international standards and best practices for central bank and financial sector audit/risk committees (including BIS principles and IIA standards).
- Strengthen provisions on the Committee’s mandate, composition, independence, responsibilities (including oversight of internal controls, risk management framework, compliance, and internal/external audit), reporting lines, and meeting protocols.
C. Internal Audit Charter and Policy
- Review the June 2025 draft Internal Audit Charter and Policy.
- Ensure alignment with international standards (IIA Global Internal Audit Standards) and best practices for central banks.
- Strengthen functional reporting to the BARC, independence safeguards, and the internal audit function’s role in providing assurance on governance, risk management, and internal controls.
D. Policy Development
- Support NRBT and TASP Legal Advisers to review and finalize the following three draft policies, ensuring they are practical, enforceable, and consistent with the overall governance framework:
- Anti-Fraud Policy (including prevention, detection, investigation, and reporting mechanisms).
- Whistleblower Protection Policy (including safe reporting channels, anti-retaliation safeguards, and clear procedures).
- Conflict of Interest Policy (covering declaration, management, and mitigation for Board members and staff; building on any existing draft).
E. Reference and Alignment
- Use Prudential Banking Standard 9 (PBS 9) on Governance (effective February 2026 for licensed banks) as a key reference point to ensure coherence between the NRBT’s own governance practices and the standards it imposes on the banking sector.
F. Cross-Cutting Responsibilities
- Facilitate workshops, structured dialogues, and mediation processes to address existing tensions between career staff and Board members, rebuild trust, and promote a shared understanding of roles and mutual accountability.
- Provide training and capacity building to Board members and senior management on the new/updated governance documents and policies.
- Advise on implementation roadmaps, including communication plans, monitoring mechanisms, and periodic reviews of the governance framework.
G. TASP Program Management Responsibilities:
- Ensure TASP’s reporting, monitoring, evaluation, and compliance requirements are met, including providing inputs to the annual work plan, monthly reports, risk matrix, and MEL framework.
- Attend meetings as required which may include regular meetings with TASP, Governance Team meetings, and meetings with DFAT.
- Support other activities as reasonably requested by the TASP Governance Team Lead, TASP Director, or DFAT.
Click on the link or copy paste it to access the full Terms of Reference for this position:
About You
Essential Experience, Capacities and Knowledge
- Advanced university degree (Master’s or equivalent) in Law, Public Administration, Finance, Economics, Corporate Governance, or a related field.
- At least 10–15 years of relevant professional experience in central banking, financial sector regulation/supervision, or public institution governance, with a strong focus on board-level governance.
- Demonstrated expertise in drafting and implementing Board Charters, Audit & Risk Committee Charters, Internal Audit Charters, Conflict of Interest policies, Anti-Fraud policies, and Whistleblower policies.
- Proven experience and abilities to work effectively with diverse stakeholders, including central banking institutions, partner government agencies, donors, development partners and other stakeholders in Tonga or other Pacific Island contexts.
- Strong facilitation, mediation, and consensus-building skills, with the ability to work effectively and impartially between senior technical staff and appointed Board members in politically sensitive environments.
- Deep understanding of central bank governance principles, including the appropriate balance between Board oversight and management autonomy, particularly regarding monetary policy and financial stability.
- Familiarity with international standards (BIS Corporate Governance Principles for Banks, IMF safeguards assessments, IIA standards for internal audit).
- Understanding of the importance of cross-cutting development issues particularly GEDSI and climate change, and experience with the implementation of safeguarding policies for child protection, PSEAH, prevention of human trafficking, fraud and anti-corruption, and environmental protection.
Why join TASP?
By joining the Tonga Australia Support Platform (TASP), you will be part of a dynamic, high-performing environment where you collaborate with leading experts from diverse backgrounds, access meaningful professional development opportunities, and contribute to nationally significant reform initiatives – while broadening your perspective through a global outlook grounded in the Pacific context.
How To Apply
Click the 'Apply Now' button.
Please submit
- Your CV
- A cover letter addressing the selection criteria
APPLICATIONS CLOSE 15 June 2026 / 23h59 / UTC +13 (Tonga Standard Time)
Should this role be of interest, we encourage you to apply as soon as possible. Kindly note only shortlisted applicants will be contacted.
People with lived experience of the regions in which DT Global operates are strongly encouraged to apply. DT Global welcomes applications from individuals with diverse backgrounds including First Nations peoples, diverse Sexual Orientation, Gender Identity and Expression, and Sex Characteristics (SOGIESC), and people with disabilities.
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