Financial Systems Consultant



Advertised on behalf of :

Location : Home based
Application Deadline :30-Nov-22 (Midnight New York, USA)
Time left :3d 3h 43m
Type of Contract :Individual Contract
Post Level :International Consultant
Languages Required :
English  
Starting Date :
(date when the selected candidate is expected to start)
09-Dec-2022
Duration of Initial Contract :75 working days spread over one year
Expected Duration of Assignment :With a possibility of extension for another two years based on satisfactory performance and budget a


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

The United Nations Capital Development Fund (UNCDF) makes public and private finance work for the poor in the world’s 47 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.
Leaving no one behind in the digital era
UNCDF has formulated its strategy ‘Leaving no one behind in the digital era’ based on over a decade of experience in digital finance in Africa, Asia and the Pacific. UNCDF recognizes that reaching the full potential of digital financial inclusion in support of the Sustainable Development Goals aligns with the vision of promoting and financing digital economies that leave no one behind. The vision of UNCDF is to empower millions of people by 2024 to use services daily that leverage innovation and technology and contribute to the Sustainable Development Goals. 
Inclusion is at the heart of UNCDF’s strategy to promote digital economies that leave no one behind, which can only be achieved if digital economies are developed at the national level and if there is a focus on making them inclusive—without any new form of exclusion.  We place particular importance on youth, women, migrants, refugees, and MSMEs, customer segments that are often marginalized and denied digital innovation and technology due to social norms, societal status, and limited revenue and capacity. We place the empowerment of these customer segments at the center of UNCDF initiatives to develop innovative services in various sectors.
Our approach focuses on accelerating the development and financing of inclusive digital economies at the country level with the government, the private sector and academia, with specific attention given to the development and financing of the right services to reduce the digital divide and to empower key customer segments.
To implement the UNCDF strategy, we apply a country-level market development approach. The objective of such an approach is to continuously aim to understand and intervene in select market systems to address underlying market dysfunctions in order to improve efficiencies, effectiveness and sustainability. The approach seeks to (1) leverage the roles and behaviors of current players in the marketplace, support them to do what they do better or to change their behavior; (2) strengthen the systems and relationships among the various market and sector actors; and (3) work with current players to de-risk new business models in order to make digital solutions more inclusive for key segments and reduce the digital divide
In Tanzania, UNCDF aims to address key market constraints that inhibit the development of an inclusive digital economy. Specifically, UNCDF aims to support MFIs and SACCOs in Tanzania in their digitization journey both for purposes of driving efficiency& scale and to comply with the MFI Act of 2018. This will also drive system readiness for future integrations to the Tanzania Instant Payments Systems (TIPS) once allowed by the Bank of Tanzania (BoT). In the same breadth and to ensure sustainability UNCDF will build capacity of the apex organizations and systems integrators to provide onward support to member/partner MFIs/SACCOs.  In parallel, the project will seek to better understand national policies covering MFIs and payments and will identify policies that need to be adjusted to achieve the MFI industry goals of Level 1 participation and drive the development of an industry-led advocacy strategy to ensure that the operational environment is enabling. Additionally, UNCDF will promote adoption of innovative regulatory approaches including supporting deployment of a regulatory sandbox. 
As part of this engagement UNCDF is looking for a Financial systems consultant with strong expertise in the technical and technological aspects of the financial systems and processes, open & real-time payments, cloud-based, multi-tenant solutions including issues around integration and open APIs. The consultant will also design and deploy a diagnostics tool to assess levels of MFI/SACCO digitization and make recommendations towards necessary improvements as well as publish the tool to guide self-diagnostics.   
The financial systems consultant is expected to be engaged by January 2023 through a non-exclusive Framework Agreement, also known as Long-Term Agreement (LTA), formalized through an Individual Contract (IC). A Framework Agreement is known in UNCDF as an agreement that establishes terms, conditions and prices that will govern future contracts (known as “call offs” arising from the said Agreement, which could be issued at any time within the duration of the IC. More information on the Framework Agreement can be found in the section below. 

 


Duties and Responsibilities

Objectives of the Assignment 

Under the direct supervision of UNCDF’s Digital Finance Advisor, the IPS Consultant will be responsible for the following key duties and responsibilities:

1. Create and apply a diagnostics tool in assessing the digitization status of MFIs and SACCOs and make recommendations towards improving their systems. 

2. Using anonymized data from the task above, publish a diagnostics tool to guide MFIs and SACCOs on their digitization journey. 

3. Train, advise and offer technical inputs to MFIs/SACCOs in the design of business models and use-cases to inform their commercial strategies and revenue generation in line with their digitization strategies. 

4. Train, advise and offer technical inputs to MFIs/SACCOs and apex organizations (MFI/SACCO associations) on the benefits, characteristics, features, and pros & cons of shared multi-tenant solutions. Such inputs including guiding learning visits within East Africa. 

5. Offer technical backstopping to apex organizations and their relevant committees/ICT teams in the deployment of shared multi-tenant solutions should they decide to pursue it.  

6. Facilitate webinars and publish an annual report based on the experiences drawn from MFIs/SACCOs in deploying shared multi-tenant solutions. 

7. Document technical inputs on the technological and regulatory specifications to inform any necessary legal, regulatory and policy processes around the use of cloud-based, in-country hosted, shared multi-tenant solutions.  

Scope of Work

The table below outlines the list of key deliverables and estimated number of days:

Under the direct supervision of UNCDF’s Digital Finance Advisor, the IPS Consultant will be responsible for the following key duties and responsibilities:

  1. Create and apply a diagnostics tool in assessing the digitization status of MFIs and SACCOs and make recommendations towards improving their systems.
  2. Using anonymized data from the task above, publish a diagnostics tool to guide MFIs and SACCOs on their digitization journey.
  3. Train, advise and offer technical inputs to MFIs/SACCOs in the design of business models and use-cases to inform their commercial strategies and revenue generation in line with their digitization strategies.
  4. Train, advise and offer technical inputs to MFIs/SACCOs and apex organizations (MFI/SACCO associations) on the benefits, characteristics, features, and pros & cons of shared multi-tenant solutions. Such inputs including guiding learning visits within East Africa.
  5. Offer technical backstopping to apex organizations and their relevant committees/ICT teams in the deployment of shared multi-tenant solutions should they decide to pursue it.  
  6. Facilitate webinars and publish an annual report based on the experiences drawn from MFIs/SACCOs in deploying shared multi-tenant solutions.
  7. Document technical inputs on the technological and regulatory specifications to inform any necessary legal, regulatory and policy processes around the use of cloud-based, in-country hosted, shared multi-tenant solutions. 

Scope of Work

The table below outlines the list of key deliverables and estimated number of days:

Activities

Outputs

Payment %age of total contract price

Target Due Dates 

Create and apply a diagnostics tool to assess the digitalization status of MFIs and SACCOs and make recommendations towards improving their systems.

  • 1 diagnostics tool developed and approved.
  • At least 2 apex organizations and 2 systems integrators trained and supported on the deployment of the diagnostic tool in making assessments and recommendations to participating MFIs/SACCOs.

 

40%

2023, April 30th

Using anonymized data from the task above, publish a diagnostics tool to guide MFIs and SACCOs on their digitalization journey

1 report approved and published on the MFI/SACCO experience in deploying the diagnostics tool and implementing recommendations provided.

13%

 (2023, May 30th  )

Train, advise and offer technical inputs to MFIs/SACCOs on the:

Design of business models and use-cases to inform their commercial strategies and revenue generation models based on improved digitalization.

Benefits, characteristics, features, pros & cons of shared multi-tenant solutions for FSPs.

 

 

20 training workshops conducted on( 5 in each quarter):

  •  MFI/SACCO use-case and business models and;
  • Multi-tenant solutions for FSPs

 

 

27%

 (2023, November 30th )

Offer technical backstopping to apex organizations and their relevant committees/ICT teams in the deployment of shared multi-tenant solutions should they decide to pursue it.  This will include facilitating webinars and publishing based on the experiences drawn from MFIs/SACCOs in deploying such solutions.

 

  • A quarterly report reviewed and approved on the technical support provided and issues resolved and signed off by the participating apex organizations/service providers.

 

             7%

(2023, November 30th )

Facilitate webinars and publish an annual report based on the experiences drawn from MFIs/SACCOs in deploying shared multi-tenant solutions.

 

 2 webinars facilitated .

  • Two reports published (1 annually) on the learnings drawn from MFIs/SACCOs on deployment of shared multi-tenant solutions.

13%

(2023, December 30th  )

TOTAL

 

100%

 

Provision of Monitoring, Progress Controls and Payments 

Supervision and Performance Evaluation:

The Evaluation: The consultant will work under direct supervision of UNCDF’s Tanzania Digital Finance Advisor and/or other IDE project management unit that may call-off the LTA and require services of the individual. The consultant will be responsible for providing his/her own portable computer during his/her engagement with UNCDF. It is to be noted that this assignment is ‘home-based’ and the candidates will work remotely from any location provided that they have the necessary connection/home-office arrangements that will allow them to deliver on the expected outputs.

Payments

Payment shall be made upon satisfactory completion and UNCDF’s written acceptance of each deliverable duly approved by the supervisor, UNCDF’s Tanzania Digital Finance Advisor and/or other IDE project management unit.

Disbursement of the final payment shall require a signed performance evaluation of the consultant.

The following supporting documents will serve as conditions for disbursement:

• Submission of invoice detailing deliverables achieved as stated in the contract.

• Submission of all deliverables/ workplan/ progress report with relevant supporting documentation; and review.

• Approval and written acceptance of each deliverable by the UNCDF’s Tanzania Digital Finance Advisor and/or other IDE project management unit.


Competencies

Technical competencies

• Strong knowledge of financial systems and processes, with a minimum of five years’ experience. 

• Experience working with central banks, payment aggregators and open payment system vendors on real time, open payment systems. 

• Experience supporting deployment of shared multi-tenant solutions for MFIs and/or SACCOs. 

• Track record in facilitating discussions or understanding rules and standards that determine how the payment system is governed, managed and operated. 

• Demonstrated experience in developing and implementing projects/ programs in the payments eco system, and around digital payments is mandatory. 

• Previous working experience in the East African Community Partner States is required. 

• Experience working in Tanzania preferable. 

• Ability to work with central banks, regulators, government and fintechs on the regulation of new (fintech related) technologies and innovation. 

• Experience of carrying out feasibility studies or gap analysis assessments.

• Ability to translate complex technical ideas to a non-technical audience both verbally and in writing.

• Understanding of need for sensitivity and confidentially of information involved in dealing with regulators. 

• Excellent writing and presentation skills including ability to publish case studies and reports of international standards. 

Functional competencies

• Strong ability to communicate and function effectively in local/international/multicultural environment.

• Excellent networking skills with a demonstrated ability to build and maintain professional relationships.

• Ability to meet deadlines and work under pressure. 

• Project management skills.

• Excellent PowerPoint and Excel skills.

• Strong technical writing skills

• High level planning, organizational and time management skills, including flexibility, attention to detail and the ability to work under pressure to meet changing deadlines.

• Well-developed interpersonal skills, including the ability to liaise effectively at senior levels, including government.

• Analytical and problem-solving skills of a high order, including the ability to formulate recommendations and advice.

• Pro-active, constructive attitude, open to feedback.


Required Skills and Experience

Education

• Master’s Degree in Economics, Finance, Banking, Development, Business Management, Information and Communication Technology, or equivalent in work experience.

Experience

• Minimum  5 years of experience in managing financial systems and processes especially for MFIs and SACCOs. 

• Experience working with financial system vendors, central banks, payment aggregators and/or open Payment Infrastructure Partners on National Instant Payments Systems.  

• Experience working in (or with) central banks, regulatory bodies, on the management, oversight, or regulation of new technologies and innovation in Tanzania and in other East African countries

• Experience supporting deployment of shared cloud-based multi-tenant solutions. 

Language

• Fluent written and Spoken English Language is required.

• Knowledge of Kiswahili is desired.

Timeline, total number of working days, duty station:

• Timeline: January 2023-December 2023

• Total Number of Working Days for Assignment:  Minimum of 365 days with a possibility of extension of up to 3 years

• Duty station: The consultant shall be home-based, except when called by UNCDF to conduct missions and/or to attend meetings. Travel, payment of travel costs including tickets, lodging and terminal expenses shall be agreed upon as per UNCDF policy, between the respective business unit and Individual Consultant, prior to travel. Please note that this consultancy is a home-based assignment, therefore, there is no envisaged travel cost to join duty station/living expenses.  

Application process:

Interested individuals must submit the documents mentioned below as proposals in order to demonstrate their qualifications. (Note: The system does not allow multiple uploads of documents. 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 the Terms of Reference (TOR) indicating web links of published case studies and research papers as well.

• Earliest availability and proposed schedule for consultancy. 

• CV or completed and signed P11-Personal History Form with names and current contacts of 3 referees  (Available at: http://sas.undp.org/documents/p11_personal_history_form.doc).

• Signed financial proposal for the assignment outlining: All-inclusive fee (including professional fees and other professional expenses, such as insurance, taxes, etc.) Available at: http://procurement-notices.undp.org/view_file.cfm?doc_id=29916. All unit prices indicated in the Financial Proposal shall remain the same for the duration of the IC, including amendments thereto. Please send it separately to the email address  financial.proposal@uncdf.org  with the subject line: IPS Consultant.

Evaluation:

Applications will be rated on both technical and financial submissions. The following selection method will be used:  Highest rated proposal using the combined scoring method. The weight distribution shall be 70% technical and 30% financial.   

Step I: Screening: 

Applications will be screened and only applicants meeting the minimum criteria will progress to the pool for shortlisting.

• Masters Degree in Economics, Finance, Banking, Development, Business Management, Information Communication Technology or equivalent in work experience.

• Minimum  5 years of experience in managing financial systems and processes especially for MFIs and SACCOs including on open API. 

• Experience working with financial system vendors, central banks, payment aggregators and/or open Payment Infrastructure Partners on National Instant Payments Systems.  

• Experience working in (or with) central banks, regulatory bodies, on the management, oversight, or regulation of new technologies and innovation in Tanzania and/or other similar context in Africa. 

• Experience supporting deployment of cloud-based multi-tenant solutions. 

Step II: Shortlisting by desk review (30% of technical assessment):

UNCDF will produce a shortlist of candidates and technically evaluate candidates by using the following criteria with corresponding points (100 points):  

• Minimum 5 years of experience in managing financial systems and processes especially for MFIs and SACCOs including managing deployment of cloud-based multi-tenant solutions for MFIs and/or SACCOs. 40 points. 

• Experience working with financial system vendors, central banks, payment aggregators and/or open Payment Infrastructure Partners on National Instant Payments Systems. 20 points. 

• Experience working in (or with) central banks, regulatory bodies, on the management, oversight, or regulation of new technologies and innovation in Tanzania and/or other similar context in Africa. 15 points. 

• Experience in building capacity (including training and technical backstopping) within the financial sector. 10 points. 

• Excellent written command of the English language: 5 points 

• Experience publishing case studies and/or reports that adhere to international standards. 10 points.

As applicable, the applicants achieving 70% of the points at this stage shall be invited for an interview via Skype. 

Step III: Interview (70% of technical assessment)

Only candidates obtaining a minimum score of 70% at the desk review stage shall be invited to a competency-based interview. 

Step IV: Financial Evaluation: (30%)

Only candidates obtaining a minimum of 70% on the total of Step II (Desk review 30 % + Interview 70%) shall be considered as technically qualified and will be reviewed further for financial evaluation.

The following formula will be used to evaluate the financial proposal:

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

Award Criteria

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

• Responsive/compliant/acceptable; and 

• Having received the highest combined weight: (technical scores)70% + financial 30%= 100%.

The first ranked top candidate that achieved the highest cumulative score will be recommended for award of Framework Agreement, upon approval of Procurement Review Committee. 

Scope of Price Proposal and Schedule of Payments:

The Financial Systems Consultant is to be compensated based on a daily fee payable upon satisfactory completion of each deliverable reflected in the call-off TOR and submission of related reports during every call-off.  The daily fee shall remain fixed for the duration of the IC, including any extension that may be executed. 

Payments shall be made following certification by the UNCDF’s Tanzania Country Lead or other FIPA project management unit that the services related to each deliverable have been satisfactorily performed and the deliverables have been achieved by or before the due dates specified in the call-off.

Contract management mechanism:

UNCDF will regularly monitor the consultant’s performance against the following criteria:

• meeting TOR requirements

• timeliness of work completion and report submission

• positive feedback of project counterparts

Both individual consultants and individual employed by a company or institution are welcome to apply. 

Any individual employed by a company or institution who would like to submit an offer in response to a Procurement Notice for IC must do so in their individual capacity (providing a CV so that their qualifications may be judged accordingly). Women candidates are strongly encouraged to apply.

Framework Agreement:

It is important to note that, at the time of the issuance of the IC that serves as the Framework Agreement, both parties understand that no financial obligation or commitment is formed on the part of UNCDF, and that such an agreement is non-exclusive (i.e., it does not prohibit UNCDF from entering into another such framework agreement with another individual or entity).  Financial commitments will only be established each time the services are requested within the scope of the IC, through the agreed triggering action or document (e.g., PO with attached output-specific TORs) that signals the commencement of an engagement (“call-offs”). 

This IC is intended for on-call intermittent engagement for a maximum of 75 working days spread over a period of 12 months, which is the duration of the project implementation.

During this period, specific service requests (also known as call-offs) shall be placed by UNCDF, in the form of issuance of Purchase Orders, supplemented by a specific Terms of Reference (TOR), and these documents will indicate the total cost of the services for the duration of the call-off, a brief description of the work, indicating the, and the number of days that will be required to complete the services, among other call-off-specific work. 

A total contract value, which shall be based on the unit price agreed by UNCDF and the individual, will be agreed by both parties that will sign the IC, and the said contract amount shall serve as the maximum cumulative value of the call-offs that UNCDF will place over the duration of the IC.



If you are experiencing difficulties with online job applications, please contact the eRecruit Helpdesk.

© 2016 United Nations Development Programme