Technical Consultant – Financial Services and Products



Advertised on behalf of :

Location : Home based with travel across Asia
Application Deadline :10-Nov-21 (Midnight New York, USA)
Type of Contract :Individual Contract
Post Level :International Consultant
Languages Required :
English  
Starting Date :
(date when the selected candidate is expected to start)
01-Dec-2021
Duration of Initial Contract :12 Months
Expected Duration of Assignment :12 Months

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

UNCDF is the UN’s capital investment agency for the world’s 47 Least Developed Countries (LDCs). UNCDF uses its capital mandate to support LDCs pursue inclusive growth. UNCDF promotes financial inclusion, also through digital financial services (DFS), as a key enabler of poverty reduction and inclusive growth; and it demonstrates how localizing finance outside the capital cities can accelerate growth in local economies, promote sustainable and climate-resilient infrastructure development, and empower local communities. Using capital grants, loans and credit enhancements, UNCDF tests financial models in inclusive finance and local development finance; ‘de-risks’ the local investment space; and provides proofs of concept, paving the way for larger and more risk-averse investors.

Hosted by UNCDF, the Centre for Financial Health is set-up as an umbrella platform towards convening a global coalition and thought leadership. The Centre for Financial Health acts as a convener, providing a platform to bring together global, regional and local actors committed to using financial and digital solutions to improve the financial lives of low-income families—helping them climb - and stay - out of poverty. The Centre creates space for thought leadership where best financial health practices and models are exchanged and lead to concrete action with governments and the private sector.

Scope of work.

Under the direct supervision of the Financial Health Programme Specialist, the Technical Consultant (TC) – Financial Services and Products will be responsible for providing technical assistance to partners including Financial Service Providers (FSPs), and fintechs and other tech companies; identify peer-to-peer learning opportunities; and lead the development and dissemination of lessons learned and best practices in driving financial health (FH) outcomes for gig workers, the elderly and women. The TC will also work closely with the FH programme team to ensure alignment in programme objectives and on reporting.

The TC will be expected to be home-based for this engagement, however, they will work from home until travel is possible in line with COVID travel guidelines as dictated by UNCDF.


Duties and Responsibilities

Activities and deliverables expected by the TC are as follows:

  1. Provide technical assistance to project partners (micro-level activities): The TC will be responsible for providing technical assistance to partners of UNCDF FH programme, e.g. Versa, Paywatch, Qoala, and others to ensure they reach their yearly objectives of providing financial services for gig workers, women and women microenterprises and drive positive financial behaviours; and others as needed. These projects are primarily managed by the Project Relationship Consultants who are also the primary point for technical assistance.
  2. The TC will be expected to support all micro-level activities including current and future projects, including initiating projects with long term savings or sidecar and others.
  3. Support the ecosystem with knowledge sharing and best practices: The TC will help UNCDF and the FH Team in acquiring specific insights and knowledge of the sector by sharing lessons learned and best practices with key stakeholders.

Expected outputs and Deliverables.

The table below outlines the list of key deliverables and estimated dates of completion:

Deliverables

Target completion from contract date

Payment terms in % of total contract price

Deliverable 1

  • Assessment and support on project driving credit to gig workers, analyze the end-use and inputs on how the credit availability can be done in a way to drive responsible credit behavior.   – Report In Word Format

 

Dec 2021

 

15%

Deliverable 2

  • Driving savings through alternate market investments with partner and analyze how these saving instruments are perceived by the customer (gig workers), to what extend this help create savings buffer, contributing to financial resilience. What are the alternate pathways that can be undertaken to effectively build savings using alternate investments. – Report in Word Format

 

Jan 2022

 

10%

Deliverable 3

  • Approaches to shaping risk mitigation strategies and products for gig economy workers through use of insurance. With partner drive product structuring, gap assessment and efficacy of using insurance to meet certain life risk. – Report in Word Format

 

Mar 2022

 

10%

Deliverable 4

  • Blog/Issue Paper – Driving financial resilience for gig economy workers by focusing on day to day money management with proposed tools

 

Apr 2022

 

12%

Deliverable 5

  • Design of financial marketplace for women driving uptake of financial services and linking the measurement aspect around outcomes – Design Document in PPT format

 

May 2022

 

10%

Deliverable 6

  • Concept Note and Action Plan for Sidecar Account

 

Jun 2022

 

10%

Deliverable 7

  • Evaluation and outline of learnings related to gig economy workers and how various financial services help build resilience and security outcomes
  • Case Study 1 on Gig Workers – Driving outcome around resilience and security with financial services

 

Jul 2022

 

8%

Deliverable 8

  • Plan design on driving financial control outcomes for elderly population, with specific focus on women driving day to day management of money  - Briefing Note in Word Format

Aug 2022

 

10%

Deliverable 9

  • Assessment of partner working on financial security through building savings for elderly population between age group of 50 – 60 yrs  - Report in PPT format

 

Sep 2022

 

8%

Deliverable 10

  • One Blog/Issue paper on pathways for building financial security and control for Elderly

 

Oct- Nov  2022

 

7%

TOTAL

100%

 

Mission travels tentatively anticipated are as follows:

Travel Destination

No. of Days

Month from contract date

Chennai, Tamilnadu, India

 5

 2

Odisha, India

 7

 3

Kuala Lumpur, Malaysia

 10

 5

Odisha, India

 5

 6

Kuala Lumpur, Malaysia

 5

 7

Odisha, India

 5

 9

Odisha, India

 10

 11

Institutional Arrangement

Duration: 12 months

Duty Station:  Home-based with travel across Asia

All the travel will be requested by UNCDF management on a need basis and compensated on a reimbursable basis following the UNDP/UNCDF rules and regulations that state that consultants shall only be paid the most direct and most economical ticket, as will be quoted by the official UN travel agency. Any amount in excess of the said quotation, such as class and airline preference of the consultant, shall be borne by the consultant. The daily living allowance will be paid in amounts not exceeding the UN established rate.

Please note that UNCDF cannot guarantee residence permits or visas for consultants. Consultants are responsible for securing their work documentation. In the case of national consultants, applicants that are not nationals of the duty station requested will have to prove their residence status. 

Provision of Monitoring, Progress Controls & Payments:

  • The consultant shall work under the supervision of the Financial Health Programme Specialist.
  • The consultant will organize periodic follow-up meetings with UNCDF to discuss the preparation of his/her travel missions.
  • Payment shall be made only upon satisfactory completion and UNCDF’S written acceptance of each deliverable duly approved by the Global Lead for Financial Health and Innovations.
  • This is a deliverable-based consulting work where payments are made based on the acceptance of the outputs.  The consultant shall not, at any time during the engagement, be made to submit a time sheet with a list of tasks completed on any given 8-hr working day.

Final payment shall require a signed performance evaluation of the consultant


Competencies

Core Competencies

• Achieve Results

       o Demonstrates focus on achieving quality results and impact

• Engage and Partner

       o Establishes and develops networks that deliver powerful collaborations

       o Demonstrates and encourages teamwork and co-creation, internally and externally, to achieve joint objectives and results

• Enable Diversity and Inclusion

       o Treats all individuals with respect, considers ethical implications and responds sensitively to all differences among people

       o Demonstrates honesty and transparency

Cross-Functional Competencies

• Project Management

       o Ability to plan, organise, prioritise and control resources, procedures and protocols to achieve specific goals

Technical Competencies

• SDG Finance 

       o Financial Inclusion

       o Innovative Finance


Required Skills and Experience

Academic Qualification:

• A Master’s degree (or equivalent qualifications) in economics, public/business administration, social sciences, microfinance or a related discipline.

Experience:

• Minimum three (3) years of relevant experience and demonstrated increasing responsibilities in a field related to financial inclusion, digital economies, or related fields is mandatory.

• Minimum two (2) years of experience in management of multi-stakeholders’ projects is mandatory. 

• Demonstrable experience using different knowledge management and sharing platforms such as webinars, social media, etc. is desirable.

• Proven track record of publications in topics related to financial inclusion is desirable.

• Excellent skills in participatory methodologies and working with diverse stakeholders is desirable.

• Experience working with the financial industry or organizations in Asia or Southeast Asia region is desirable.

Language:

• Fluent command of written and spoken English language is required.

Application Process

Interested individuals must submit the following documents 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.)

All applications must contain the following information:

• Cover letter with a summary statement of competencies in relation to this Terms of Reference (TOR);

• Curriculum Vitae and/or Completed and Signed P11-Personal History Form with names and current contacts of three referees.

The following document is to be sent by email to financial.proposal@uncdf.org 

• Duly accomplished Letter of Letter of Confirmation of Interest and Availability and Financial Proposal (do not upload your financial proposal online.)  The financial proposal should be emailed separately to financial.proposal@uncdf.org  with the subject line:102751:Technical Consultant - Financial Services and Products

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

Evaluation Method

Applicants will be evaluated based on the following methodology:

• Preliminary Evaluation - Step I: Screening.

• Technical Evaluation Weight - 70% (Step II: Desk review 100 points = 100 Points).

• Financial Evaluation Weight - 30% (Step III).

Step I: Screening

Applications will be screened and only applicants meeting the following mandatory criteria will progress to the pool for shortlisting:

• A Master’s degree (or equivalent qualifications) in economics, public/business administration, social sciences, microfinance or a related discipline.

• Minimum three (3) years of relevant experience and demonstrated increasing responsibilities in a field related to financial inclusion, digital economies, or related fields.

• Minimum two (2) years of experience in management of multi-stakeholders’ projects.

Step II: Desk Review 

A desk review will be conducted to produce a shortlist of applicants according to the criteria listed below. Only applicants who obtain 70% of the points at this stage shall be invited for the next step.

• A Master’s degree (or equivalent qualifications) in economics, public/business administration, social sciences, microfinance or a related discipline. – 20 points

• Minimum three (3) years of relevant experience and demonstrated increasing responsibilities in a field related to financial inclusion, digital economies, or related fields. – 30 points

• Minimum two (2) years of experience in management of multi-stakeholders’ projects. – 20 points

• Demonstrable experience using different knowledge management and sharing platforms such as webinars, social media, etc. – 10 points

• Proven track record of publications in topics related to financial inclusion is desirable. – 10 points

• Has experience working with the financial industry or organizations in Asia or Southeast Asia region is desirable. – 10 points

Only applicants who have obtained scores above 70% of the technical assessment will be considered technically qualified and will be subject to further review for a financial evaluation.

Step III: Financial Evaluation

All applicants must submit a financial proposal based on an all-inclusive lump-sum for the contract period. The term “all-inclusive” implies that all costs (professional fees, communications, consumables, etc.) that could be incurred by the individual consultant (IC) in completing the assignment are already factored into the lump sum amount submitted in the proposal. If applicable, travel or living allowance cost (if any work is to be done outside the IC’s duty station) should be identified separately. Refer to the list of potential travel destinations above. Do note that mission travels will be paid on a reimbursable basis and every travel has to be approved by UNCDF’s Programme Manager. The maximum reimbursable amount for each travel will not exceed the travel per-diem prescribed for respective locations (see https://icsc.un.org/).

The following formula will be used for evaluation of financial proposals:

Lowest priced proposal / Price of the proposal being evaluated x 30

Award Criteria

The contact shall be awarded to the best applicant whose offer has been evaluated and determined as:

• Responsive/compliant/acceptable; and

• Having received the highest combined score: Technical (desk review) 70% + Financial 30% = 100%.

Individual consultants and persons employed by a company or institution are invited to apply. 

Any individual employed by a company or institution who would like to submit an offer in response to a Procurement Notice for individual consultant must do so in their individual capacity by providing a CV so that their qualifications may be judged accordingly. 

Women candidates or women-owned businesses are strongly encouraged to apply.

UNCDF 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.



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