Background

UNCDF is currently undertaking Making Access Possible supply and demand side diagnostic studies in over 14 countries across the globe. The MAP diagnostic consists of detailed supply and demand side analysis while the detailed supply-side assessment examines the financial market environment in each country, including the policy and regulatory landscape.

Against this background, UNCDF requires the assistance of a range of consultants, experienced in the following key content areas on financial inclusion, namely: agriculture and SMME, credit markets, including credit information sharing and the development of credit associations, OTC to digital remittances, both national and international, micro-insurance and savings in the low income market, including funeral insurance.

Consultants will be expected to utilize MAP diagnostic results to identify, develop and manage new work areas to enable progress of the national roadmaps in country.
 

Duties and Responsibilities

The objective of this assignment is to provide ongoing project and content assistance to the MAP Hub in implementing MAP and in ensuring of delivery of the national roadmaps, including:

  • Providing overall support and strategic guidance for the development and ongoing monitoring of the MAP M&E at country level;
  • Provide technical support to the country managers key strategic areas of the roadmap;
  • Working with Government and the country managers to demonstrate delivery and proof of concept within key priority areas.

The Consultant is required to work with the MAP Hub and collaborate with the MAP programme in country, to provide country managers with the depth of technical insight required for the progress of the national roadmaps.? Consultants are required to be content specialists in the areas identified above in order to provide the following technical and operational support to the county teams:

  • Work with country level and regional teams in utilizing the national roadmaps and priority action plans developed by the Steering Committees to implement identified and agreed specific technical areas. ?
  • Work with the country, regional and the Global MAP Hub to further refine the technical approach and feedback the learnings across the countries into the MAP Hub;
  • Work with the country and regional teams to manage specific depth of content areas identified by the roadmap.

Content specific areas which require the following range of expertise:

1.Funeral Insurance

  • Research available highlights the need for funeral insurance, even in countries where the penetration of funeral insurance is high.
  • Product offering and innovation: Many forms of funeral insurance exist, and a large portion of the products are provided by the informal financial services sector. Support is needed to review the product offering, the regulatory environment that supports and protect the customer, the blockages to formalizing the informal sector providers and accessibility
  • Regulation: The number of informal providers suggest a gap in the sector, and is concerning as non-regulation does imply no consumer protection for those most vulnerable.

2.Credit information

  • Credit Information Sharing with Countries: The relevance of a credit information sharing environment is not disputed. While supporting the relevant provision of credit to the market, it can also support reducing in-deftness and low debt recovery levels. Support is needed to continue with these project in county – with specific attention to :-

               1. Where it doesn’t exist the creating of a credit information culture and environment;
               2. Increased membership to include non-formal financial service providers;
               3. The development of a credit information sharing environment for SMME.

3.Payments and Digitization of Cash

  • Regulatory experts to support the digitization of payments in financial inclusion. Evidence from work done confirms that payment regulations are often a hindrance to supporting financial inclusion. Often, this is due to the age of the regulation that has not evolved with the evolution of new payments environment, new electronic currency, shared switching environments and the basis for the definition of a transaction account to name a few.
  • Innovation within the retail payments environment : Regulation, linked to business models linked to commercial needs of the supplier, rather than the real needs of the individuals, particularly low-income individuals,? inhibit and often limit innovation. Support is required at country-level to bridge the gap between regulation and innovation, enabling the appropriate commercialization and operationalization of solutions in country.
  • Switching within a financial inclusion context to support high volume, low cost transactions : Support to facilitate and rationalize bulk switching for low cost, high volume transactions. The concept of shared country agnostic switches to support low cost transactions. This requires support from a regulatory perspective (mainly for cross border switching), as well as analytic support to rationalize existing switching capability).
  • Bill Payments: To support efficient bill payment environment for non-bank financial services. This will require support on inter-operability into banking systems and/or between non-bank financial services providers. The current model for non-bank financial service providers is a ‘direct’ link model – with the providers of financial services having to negotiate with each biller, and develop the technology individually to ensure bill payments. This is highly inefficient, from a time and cost perspective.
  • Remittances : Remittances are the most utilized use case for digitization of payments, but work is required to support the leverage of remittances to providing other formal financial services and as an entry into other formal financials services.

4.Savings and Ivestment

  • Understanding the evolutionary drivers from credit to savings : research highlights that credit and saving are used to provide relief, often for the same ‘utilities’ such as health, education and income smoothing for seasonal workers. Support is needed to assess the drivers to utilizing credit, versus saving (a more efficient utilization of limited cash) for these incidents. With the understanding that individuals have limited cash resources to support their daily needs – credit is costly – still has a daily or monthly contribution requirement that places strain on the limited funds and could be replaced with a saving product.
  • Evolution and innovation in product development: Traditional banking saving products offer separate saving and transactional accounts. These saving products are often linked to a bank account, which limits accessibility to deposit and withdraw money. Financial services for the provision of transactional accounts has evolved – to support agent banking and low and/or no cost transactional accounts. Support is required to innovate the product design, within the regulatory constraints of the definition of a deposit taking institution by central banks and regulators.
  • Developing a savings culture within low-income households

5.Consumer Protection and Empowerment

  • Regulatory Support
  • Implementation and operationalization support

6.Anti-Money Laundering

  • Regulatory support: AML and the implementation of AML/CTF provisions are not always regulated by the Central bank. Even when within the Central Bank – the autonomy of the AML environment is crucial to ensuring good governance, to support international standing of the regulator. The interpretation of the AML requirements often leads to:-

1. A more conservative view, due to the ambiguity of the requirements and the interpretation of the requirements – at time unnecessarily increasing blockages to financial inclusion. Research and technical support is needed to ensure in country management and regulatory interpretation is simplified, and harmonised.

2. Differences in interpretation resulting in different requirements for same and/or similar products within a region. This leads to a complicated operational environment – training and well as technology to support the product – and can unnecessarily increase costs. Support is needed to assess ensure harmonization in the interpretation and implementation of AML requirements.
 3. Impact of Risk Based Approach to AML/CTF – there is a general, untested view, that the risk based approach to AML will increase AML requirements for consumers. Support is needed to understand the effect of the risk based approach to AML, the operating environment and the costs.

Deliverables will be defined from time to time but can be expected to include:

  • End to end project management and support to technical areas of the country roadmaps as illustrated above.More detailed workplans and outputs will be provided on agreement of the work;
  • Contribution to M&E frameworks and related action plans;
  • Assistance to the country managers on the content coordination of activities at country level related to the technical areas identified above.

Reporting

The consultant will report to MAP Global Programme Advisor.

Duration

Duration: varying from 10% - 50% of the consultants time over 2 years, and will be called upon as needed. Monthly or regular schedules will be agreed jointly to define the time commitment and deliverables.

Travel

The schedule of travel will be negotiated with the consultant according to the requirements of the programme. Mission travels shall be arranged by UNCDF Office in accordance with UNCDF travel rules and regulations.

UNCDF does not accept travel costs exceeding those of an economy class ticket. Should the Consultant wish to travel on a higher class, he/she should do so using his or her own resources.

Furthermore, the Individual Consultant who is at the duty station at the time of hire is ineligible for travel to join, and who remain at the duty station after contract completion is ineligible for repatriation travel.

For unforeseeable travel, payment of travel costs including tickets, lodging and terminal expenses should be agreed upon, between the respective business unit and Individual Consultant, prior to travel and will be reimbursed.

 

 

Competencies

Corporate Competencies

  • Demonstrates integrity and fairness by modelling UN values and ethical standards;
  • Displays cultural and gender sensitivity and adaptability;
  • Shows strong corporate commitment;
  • Promotes the vision, mission and strategic goals of UNCDF and UNDP.

Functional Competencies

  • Strong financial analysis and business project management skills;
  • Strong analytical and writing skills and track record producing high-quality M&E frameworks and other written project outputs.
     

Required Skills and Experience

Consultancy 1: Regulatory Support – Insurance Products

Education

  • Bachelor Degree in Science, Business Science or Bachelor of Commerce or other related field;
  • Master’s Degree in Buisness Administration is preferable.

Experience

  • A minimum of 10 years relevant, practical working experience within the private sector is a must;
  • Experience within the? retail insurance sector will be considered a benefit or working within a national regulatory environment;
  • Documented, deep technical knowledge and experience with financial services industry is essential;
  • Significant experience in a management and operational role within the financial services industry;
  • Excellent organizational, inter-personal and communication skills;
  • Experience in developing UN project documents an added advantage;
  • Experience with similar assignments in LDCs, will be an added advantage.

Language

  • Excellent command of the English language, with outstanding written and oral communication skills is required.

Consultancy 2: Regulatory Support – Payments, Consumer Protection and AML

Education

  • Bachelor Degree in Science, Business Science or Bachelor of Commerce or other related field;
  • Master’s Degree in Buisness Administration is preferable.

Experience

  • A minimum of 10 years relevant, practical working experience within the private sector is a must;
  • Experience within the retail banking,? particularly payments and Government (regulators) will be considered a benefit;
  • Understanding of payments technology within the banking environment is a added advantage;
  • Significant experience in a management and operational role within a services industry;
  • Excellent organizational, inter-personal and communication skills;
  • Experience in developing UN project documents an added advantage;
  • Experience with similar assignments in LDCs, will be an added advantage.

Language

  • Excellent command of the English language, with outstanding written and oral communication skills is required.

Consultancy 3: Credit Information

Education

  • Bachelor Degree in Science, Business Science or Bachelor of Commerce or other related field;
  • Master’s Degree in Buisness Administration is preferable.

Experience

  • A minimum of 10 years relevant, practical working experience within the private sector is a must;
  • Experience within the retail banking and retailer credit environments will be considered a benefit;
  • Documented, deep technical knowledge and experience with financial services industry is essential;
  • Significant experience in a management and operational role within a services industry;
  • Excellent organizational, inter-personal and communication skills;
  • Experience in developing UN project documents an added advantage;
  • Experience with similar assignments in LDCs, will be an added advantage.

Language

  • Excellent command of the English language, with outstanding written and oral communication skills is required.

Consultancy 4: Payments and Digitization of Cash

Education

  • Bachelor Degree in Science, Business Science or Bachelor of Commerce or other related field;
  • Master’s Degree in Buisness Administration is preferable.

Experience

  • A minimum of 10 years relevant, practical working experience within the private sector is a must; Experience within the retail banking and mobile money environmentswill be considered a benefit;
  • Consulting experience with a large tier 4 consultancy will be an added advantage;
  • Documented, deep technical knowledge and experience with corporate strategy and financial services/telecommunications industry is essential;
  • Significant experience in a management and operational role within a services industry;
  • Excellent organizational, inter-personal and communication skills;
  • Experience in developing UN project documents an added advantage;
  • Experience with similar assignments in LDCs, will be an added advantage.

Language

  • Excellent command of the English language, with outstanding written and oral communication skills is required.

Consultancy 5: Savings and Investment

Education

  • Bachelor Degree in Science, Business Science or Bachelor of Commerce or other related field;
  • Master’s Degree in Buisness Administration is preferable.

Experience

  • A minimum of 10 years relevant, practical working experience within the private sector is a must; Experience within the retail banking and savings institutions and/or investment banking will be considered a benefit;
  • Documented, deep technical knowledge and experience with corporate strategy and financial services/telecommunications industry is essential;
  • Significant experience in a management and operational role within a services industry;
  • Excellent organizational, inter-personal and communication skills;
  • Experience in developing UN project documents an added advantage;
  • Experience with similar assignments in LDCs, will be an added advantage.

Language

Excellent command of the English language, with outstanding written and oral communication skills is required.

Consultancy 6: Consumer Protection

Education

  • Bachelor Degree in Science, Business Science or Bachelor of Commerce or other related field;
  • Master’s Degree in Buisness Administration is preferable.

Experience

  • A minimum of 10 years relevant, practical working experience within the private sector is a must;
  • Documented, deep technical knowledge and experience with financial services industry is essential;
  • Significant experience in a management and operational role within a services industry;
  • Excellent organizational, inter-personal and communication skills;
  • Experience in developing UN project documents an added advantage;
  • Experience with similar assignments in LDCs, will be an added advantage.

Language

  • Excellent command of the English language, with outstanding written and oral communication skills is required.

Application Process

Interested individuals must submit the following as proposals in order to demonstrate their qualifications: (NOTE: the system does not allow multiple uploads of document. Applicants must make sure to upload all documents in one PDF file).

  • Detailed up-to-date CV including past experience in similar projects;
  • A letter indicating why the candidate considers himself/herself suitable for the required consultancy;
  • Two references indicating the contact details.
  • Please indicate which category you are applying for

Incomplete applications will not be considered. Please make sure you have provided all requested materials.

Evaluation Process

Consultants will be evaluated based on the cumulative analysis methodology (weighted scoring method), whereby the award of the contract will be made to the individual consultant whose offer has been evaluated and determined as:

  • Responsive/compliant/acceptable; and
  • Having received the highest score out of a pre-determined set of technical and financial criteria specific to the solicitation.

Technical Criteria weight: [70%], 700 possible points
Financial Criteria weight: [30%], 300 possible points

Only obtaining a minimum of 490 points (70% of 700 possible points) on the Technical evaluation will be considered for the Financial Evaluation.
Individual consultants will be evaluated based on the following methodology:

  • Preliminary Evaluation - Step I: Screening;
  • Technical Evaluation Weight - 70% - Step II: Desk review
  • Financial Evaluation Weight - 30% - Step III.

Step I: Screening

Applications will be screened and only applicants meeting the following minimum criteria (listed under Degree of Expertise and Qualifications) will progress to the pool for shortlisting.

Step II: Shortlisting by Desk Review: (700 Points)

UNCDF will conduct a desk review to produce a shortlist of candidates and technically evaluate candidates as follows:

Education/Qualification -10%
Experience -50%
Skills and competencies – 10%

Step III: Financial Evaluation: 30%

The following formula will be used to evaluate financial proposal:
Lowest priced proposal/price of the proposal being evaluated x 30%.

Contract Award

Up to 2 consultants might be selected for the consultancy per each category.

The LTA might be awarded to up to 2 consultants whose offer has been evaluated and determined (i) Responsive/compliant/acceptable; and (ii) Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation.