Background

UN Capital Development Fund (UNCDF) and Inclusive Finance

UNCDF provides investment capital and technical support to both the public and the private sector. It provides capital financing -- in the forms of grants, soft loans and credit enhancement – and the technical expertise to unleash sustainable financing at the local level.  

UNCDF’s work on inclusive finance seeks to develop inclusive financial systems and ensure that a range of financial products is available to all segments of society, at a reasonable cost, and on a sustainable basis. UNCDF supports a wide range of providers (e.g. microfinance institutions, banks, cooperatives, money transfer companies) and a variety of financial products and services (e.g. savings, credit, insurance, payments, and remittances). UNCDF also supports newer delivery channels (e.g. mobile phone networks) that offer tremendous potential for scale.

Shaping Inclusive Finance Transformations (SHIFT) Programme

The ASEAN region is home to more than 600 million people spread across 10 countries. Despite the dynamism of the region, there are significant contrasts between and within the countries, with three LDCs coexisting with some of the world’s largest and most vibrant economies, resulting in 20 per cent of the world’s poorest people living alongside some of the world’s richest

UNCDF has developed a regional programme in ASEAN called SHIFT (Shaping Inclusive Finance Transformations), with initial funding from the Australian Government, FMO and UNCDF’s own resources.

Programme Outcome

The target programme outcome is for at least 6 million low-income individuals, micro-entrepreneurs, and small and medium businesses, including women and young people to transition from using informal financial mechanisms to more formalized financial services by the year 2020.

Programme Outputs

In order to achieve the target outcome, the Programme aims to deliver the following outputs:

Fund Facility: Support financial service providers to develop new prototypes and bring to scale viable business models that serve low-income individuals, micro-entrepreneurs, and small and medium businesses, especially women within these markets, in the ASEAN frontier economies;

Learning & Capacity Building: Support business development service providers by leveraging ICT solutions to develop and bring to scale viable e-learning models for professionals in financial institutions to improve productivity and professionalism;

Data and Analysis Hub: Produce, consolidate and communicate data and information on supply, demand and regulation in financial markets to strengthen the evidence base and investment decisions of providers, regulators and policy makers, specifically targeted towards low-income individuals, micro-entrepreneurs, and small and medium business, especially women within these markets;
Policy and Advocacy: Influence policy makers, financial service providers and governments to enable financial markets to be more responsive to the wider development priorities of governments and its people.

UNCDF also runs two other programmes in the ASEAN region: UNCDF CleanStart, which focuses on financing for clean energy solutions; and UNCDF Mobile Money for the Poor (MM4P), which helps build inclusive digital financial sectors using a market development approach that combines a mix of technical, financial and policy support.

The SHIFT Challenge Fund

The SHIFT Challenge Fund has been in implementation for several years and will be launching a joint window with UN Pulse Lab Jakarta, titled the Microenterprise FinTech Innovation Challenge. The target of this digital solutions innovation Challenge Fund Window is to promote and accelerate usage of digital technology solutions for microenterprises in Indonesia that result in increased usage of financial services, productivity, efficiency, income and/or employment, etc. for this segment, increasing actors’ ability to expand and upscale their business operations.

Objectives

The Programme currently requires the services of 3 consultants who will form a Review Committee to a review of proposals for the current window – the Microenterprise FinTech Innovation Challenge, closing 1st October – and two further Challenge Fund Windows in the near future. The purpose of the Review Committee is to inform the final selection decisions of the Evaluation Committee. The Review Committee will be expected to work as a team to complete the following:

• Evaluate and rank the proposals of applicants to Challenge Fund windows, according to criteria set out in the window concept notes;
• Analyze business models and produce analytical reports for the purpose of shortlisting Challenge Fund applicants;
• Conduct due diligence assessment on the business models of all shortlisted applicants and prepare comprehensive due diligence reports on each shortlisted applicant;
• Create a summary to inform the Evaluation Committee on the shortlisting process and to assist to with evaluation of applicants; and
• Conduct additional due diligence as requested by the Evaluation Committee.

Duties and Responsibilities

Key work areas shall consist of

Analysis of Business Plan and Financial, Institutional and Technical Capacity of Applicants

• Business plan and financial analysis, qualitative and quantitative assessment of banks, non-bank financial institutions, FinTech companies and other applicants for SHIFT Challenge Fund grant funding.
• Grant impact business and financial modeling, what-if scenarios, break even analysis, impact analysis according to set parameters.
• Assessment of management capability and experience.
• Assessment of key partners’ financial resources and commitment.

Preparation of Informational Materials for SHIFT Evaluation Committee Meetings

• Preparation of individual due diligence and business plan analysis reports on each shortlisted grantee.
• Preparation of presentation to the Investment Committee explaining the shortlisting process and providing an overview of applicants.

Additional follow-up work as requested by the Investment Committee

• Additional due diligence investigation as requested by Investment Committee.
• Providing any clarifications or further information requested by Investment Committee.

Expected outputs

Microenterprise FinTech Innovation Challenge Window

• List of evaluated and ranked proposals based on set criteria;
• Due diligence reports on Challenge Fund applicants, including business model analysis, partner capability analysis and grant impact analysis;
• Presentation detailing selection process and justficiation for shortlisting;
• Overview document of all applicants, containing all applicant and project details submitted to the Challenge Fund.

MSME Window

• List of evaluated and ranked proposals based on set criteria;
• Due diligence reports on Challenge Fund applicants, including business model analysis, partner capability analysis and grant impact analysis;
• Presentation detailing selection process and justficiation for shortlisting;
• Overview document of all applicants, containing all applicant and project details submitted to the Challenge Fund.

Window 5 (TBC)

• List of evaluated and ranked proposals based on set criteria;
• Due diligence reports on Challenge Fund applicants, including business model analysis, partner capability analysis and grant impact analysis;
• Presentation detailing selection process and justficiation for shortlisting;
• Overview document of all applicants, containing all applicant and project details submitted to the Challenge Fund.

Duration fo Assignment, Duty Station and Places of Travel

Up to three (3) International consultants. Total of 45 days spread over a period of ten (10) months.

Duty Station and expected places of travel: The consultant is expected to work from home with the possibility of travel to UNCDF Regional Office in Bangkok.  If a travel is determined necessary and agreed between UNCDF and the Individual consultant, the travel costs associated to the assignment will be paid as reimbursable basis and following the UNDP/UNCDF rules and regulations which states 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.  Lodging and terminal expenses shall not exceed those allowed within UNCDF policy. Please note that consultants that are home-based will not be compensated for living expenses.

Monitoring and Progress Control

The consultant will work under the direct supervision of the Fund Facility Coordinator in Bangkok.

Payment will be made upon submission and acceptance of the outputs to the satisfaction of the Fund Facility Coordinator in Bangkok, which shall be formalized through a written acceptance of outputs and explicit authorization of release of payment.
 

Competencies

• Ability to establish priorities, plan, coordinate and monitor own work;
• Demonstrates aptitude in business planning and financial modelling;
• Ability to speak comfortably with enterprises about their businesses;
• Good project management skills;
• Demonstrates ethics and integrity;
• Demonstrates calculated risk taking;
• Ability to work in a multicultural environment;
• Remains calm, in control and good humored even under pressure;
• Displays cultural and gender sensitivity and adaptability.

Required Skills and Experience

Education

The consultant will have a Master’s degree from a reputed University, ideally in a business administration, finance-related subject, and/or;
A certification as a Chartered Accountant or Chartered Financial Analyst.

Experience

• Minimum of 5 years relevant experience at a commercial or investment bank or other financial institutions, including credit rating agencies, venture capital firms, impact investment firms, involved in business and financial analysis;
• 2 years of experience of working with FinTech innovations and/or Challenge Funds;
• 2 years of experience in working with MSME sector;
• General knowledge of UN system and Development issues is desirable.

Languages

• Fluency in English (written and verbal) is required.

Evaluation of applications

Individual consultants will be evaluated based on the following methodology.

Cumulative analysis
The award of the contract will be made to the individual consultant up on Cumulative Analysis/evaluation and determined as:

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

Only candidates obtaining a minimum 70% mark in technical evaluation, including desk review and interview, will be considered eligible for financial evaluation.

Three individual consultants will be selected, based on technical qualifications, financial evaluation and complementary competencies. These consultants will be expected to work together to achieve the objectives.

Technical Evaluation Criteria (Total 70 marks):

Experience (50marks)

• Minimum of 5 years relevant experience at a commercial or investment bank or other financial institutions, including credit rating agencies, venture capital firms, impact investment firms, involved in business and financial analysis;
• 2 years of experience of working with FinTech innovations and/or Challenge Funds;
• 2 years of experience in working with MSME sector;
• General knowledge of UN system and Development issues is desirable.

Competencies (20 marks)

• Ability to establish priorities, plan, coordinate and monitor own work;
• Demonstrates aptitude in business planning and financial modelling;
• Ability to speak comfortably with enterprises about their businesses;
• Good project management skills;
• Demonstrates ethics and integrity;
• Demonstrates calculated risk taking;
• Ability to work in a multicultural environment;
• Remains calm, in control and good humored even under pressure;
• Displays cultural and gender sensitivity and adaptability.

Financial Evaluation (Total 30 marks):

All technical qualified proposals will be scored out 30 based on the formula provided below. The maximum points (30) will be assigned to the lowest financial proposal. All other proposals received points according to the following formula: p = y (µ/z), where:

•    p = points for the financial proposal being evaluated;
•    y = maximum number of points for the financial proposal;
•    µ = price of the lowest priced proposal;
•    z = price of the proposal being evaluated.

As applicable, only the first top 3 ranked applicants achieving the highest combined score will be awarded a contract.

Application Procedure

Interested individual consultants must submit the following documents/information to demonstrate their qualifications. Proposers who shall not submit below mentioned documents will not be considered for further evaluation.

• When applying for this consultancy position, please apply with your official name as shown in the government issued identification document (e.g. passport and/or driver license). Contract award is subject to this verification;
• Personal CV or P11, indicating all past experience from similar projects, as well as the contact details (email and telephone number) of the Candidate and at least three (3) professional references; link to P11: http://sas.undp.org/documents/P11_Personal_history_form.doc;
• Brief description of why the individual considers him/herself as the most suitable for the assignment, and a methodology, if applicable, on how they will approach and complete the assignment;
• Cover letter explaining why you are the most suitable candidate for the advertised position. Please paste the letter into the "Resume and Motivation" section of the electronic application;
• Confirmation of interest and Financial proposal: Template for Confirmation of Interest and Submission of Financial Proposal
• Earliest Availability.

 Individual Consultants are responsible for ensuring they have vaccinations/inoculations when traveling to certain countries, as designated by the UN Medical Director. Consultants are also required to comply with the UN security directives set forth under dss.un.org.

Both individual consultants and individuals 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 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.

Please include all documents into one file while submitting your application.

References

UNDP’s Individual Consultant’s General Terms and Conditions are provided here:
http://www.undp.org/content/dam/undp/documents/procurement/documents/IC%20-%20General%20Conditions.pdf