UNDP Jobs - 66051- International Consultancy

International Consultancy - Startup Support for the Operationalization of Liberia Innovation Fund for Entrepreneurs (LIFE)

Location :

Monrovia, LIBERIA

Type of Contract :

Individual Contract

Starting Date :

01-Jun-2016

Application Deadline :

11-May-16 (Midnight New York, USA)

Post Level :

International Consultant

Duration of Initial Contract :

35 Working Days

Languages Required :

English

Expected Duration of Assignment :

35 Working Days

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Background

In an effort to grow the domestic private sector and empower local Liberia entrepreneurs most of whom are MSMEs, the Ministry of Commerce and Industry (MoCI) has set up the Liberia Innovation Funds for Entrepreneurs (LIFE). The Fund focuses on loans to MSMEs. The Government of Liberia has created the Small Business Administration Department, headed by a Deputy Minister, within the (MoCI). Additionally, the Act creating that Department makes provision for said Fund and defines powers to facilitate loans and the management process, and the operability of the funds. An MOU between the Liberia Bank for Development and Investment (LBDI) and the MOCI has been drafted, reviewed by the in-house counsel and pending internal clearance. A concept note has also been drafted on the management of the funds. Initial Seed money of over 1 million USD has been committed to the Fund, with USD500, 000 coming from Government of Japan, to be matched by contribution from the Government of Liberia.
There is a sense of priority and emphasis on MSMEs at the highest level of government gauging from the remarks of the President during conference where the President indicated the need to support the MSMEs. Apart from the MOCI, there are two other government institutions, namely, the Ministry of Justice and Ministry of Finance and Development Planning that are key to the Fund. Also, the Liberia Bank for Development and Investment (LBDI) is expected to be a key private sector partner contributor to this initiative. As provided for in the Act, a Committee will be set up whose role will include, but not limited to, approval of loans to successful applicants LIFE will utilize government, donor and private sector social investment funds to target the growth of MSMEs and established businesses working in Liberia in key sectors. “Financial access is critical for SMEs’ growth and development. In their early stages of development, SMEs rely on internal sources of funding, including the owner’s savings, retained earnings, or funding through the sale of assets” . The objective of this assignment therefore is to assist the MoCI and the Bureau of Small Business Administration in the development of the standard operating procedures, and hence the need to hire an expert to develop the necessary start up documents and tools and assist in implementation of a comprehensive framework to support improved access to finance, MSMEs and enhance their competitiveness.

Duties and Responsibilities

The result of the Consultancy will be a start up support for the roll out of the LIFE through the performance of the following tasks:

The Expert in Micro, Small and Medium Enterprises Finance (MSMEs) will coordinate with the Deputy Minister of the Bureau of Small Business Administration or his designate.
Support the Bureau of Small Businesses Administration in defining the strategy to promote, develop, regulate, control, operate and control loan facilitation, through designated financial institutions.
Develop eligibility criteria to approve loans
Review the role of the Inter-agency Steering Committee established by the Act and make recommendations to strengthen its role and functions.
Establish procedures to identify, analyze and manage the risks that may arise from internal and external sources that may affect the LIFE fund.
Develop appropriate standard operating procedures covering management of finances, accounting, loans eligibility criteria and financial reporting;
Review and make recommendations that support the Loan Guarantee Scheme;
Develop an archiving system for storing loan documents (hard copies and e-copies, back-up, other) and restricting access to authorized personnel.
Review and advise on improving the functionality of the existing Performance Monitoring and Evaluation Division
Support the Bureau of Small Business Administration in preparing the M&E framework
Develop adequate accounting and internal control systems to monitor loan disbursements and repayments.
Develop a Credit risk assessment framework.
Review and make comments as necessary on the following documents (Financial Regulatory Framework, MOCI Small Business Law, Japanese Grant, MOCI Annual Report on MSMEs, other)
Identify opportunities to improve the LIFE Fund framework and to set up the financial model and recommend appropriate actions to address the business need to reach new clients (MSMEs)
Advice on how to improve promoting financial literacy and consumer protection,
Develop, in consultation with the Deputy Minister, reporting formats that will show trends in access to finance, building on credit registry and repayments ( key performance indicators)
Review existing draft LIFE Fund MoU and advise as necessary
Identify needs of additional technical assistance and prepare draft terms of reference for it.
Prepare and provide training to the staff of the Bureau of Small Business Administration and other stakeholders, in consultation with the Deputy Minister.
Provide other support as requested by the Head of Division, the Head of LRA and other senior managers.

Deliverables:

Review of available documents, initial interaction with key Stakeholders; submission of an inception report including a profile of the Department of Small Business Administration and detailed workplan - 5 working days
Interim Report detailing training, job/career profile for staff, start up activities plan - 6 working days
Draft report for review - 10 working days
Key stakeholders mapped ,Fund Management, access, targeting and disbursement strategy/manual templates, tools and Standard Operating Procedures developed - 7 working days
Final Report with action plan and recommendations for sustainability, exit, and emerging lessons learned documented - 7 working days

Reporting Arrangements
The reporting arranged shall be matrixed. The expert will report to both to UNDP through to the Deputy Country Director/Programme and to the Minister of Commerce and Industry through the Deputy Minister for Small Business Administration on the substantive deliverables, and UNDP through the Deputy Minister for Small Business Administration and make a formal presentation of his/her report to the Senior Management Team (SMT) of the MoCI and UNDP upon completion of assignment.

Competencies

Excellent written and verbal English communication skills
Excellent ability to communicate clearly in written and spoken English
Highly developed interpersonal skills
Should be able to demonstrate proven ability to work in well-defined and structured situations and in the context of multi-disciplinary/multi-cultural teams

Required Skills and Experience

Education

At least a University Master’s degree in an economic or financial discipline; MBA, MPP or equivalent preferred and/or specialization in MSME Finance.

Experience

Wide Financial sector proven experience (at least 5 years at the international level);
Specialization in marketing and strategy;
Specialization in loan process streamlining, including credit scoring technologies;
Skills and experience in global risk management for financial institutions;
Curriculum development and training experience;
International work experience in a development context;
Must have proven experience working with international organizations and international projects.

Language:

Fluent in English.

Criteria for Short listing:

Relevance of education/degree - 20 points;
Years of relevant experience- 50 points.
Adequacy of skills & competencies - 30 points;
Only shortlisted candidates will be forwarded the UNDP Procurement Notice.

Shortlisted candidates will be evaluated based on the following methodologies:

Cumulative analysis

Award of the contract will be made to the individual consultant whose offer has been evaluated and determined as:

Responsive/compliant/acceptable;
Having received the highest score out of a pre-determined set of weighted technical and financial criteria;
Technical Criteria; [70 points];
Financial Criteria; [30 points];
Only candidates obtaining a minimum of 70% of the total rating will be considered for the financial evaluation.