Background
Guided by the priorities and commitments set forth by the Addis Ababa Action Agenda, and recognizing the fact that implementation of the 2030 Agenda for Sustainable Development and its ambitious goals and targets will require huge investments and partnerships, the State Bank for Foreign Economic Affairs of Turkmenistan (TFEB) and the United Nations Development Programme (UNDP) initiated a joint project “Support in expanding access to International Development Finance“ in 2018. The project was aimed at improving coordination mechanisms for external financing; developing the business strategy for TFEB; and preparing the plan for introduction of digital banking in TFEB.
To assist TFEB in refining its banking and digital strategies in line with the goals and objectives of the National Programme for Socio-Economic Development for 2011-2030 and the National Banking Strategy, the project engaged consultancy to analyze the TFEB’s situation and as a result designed Business and digital strategy for TFEB.
To strengthen and leverage upon TFEB’s support from the State, relationships with International Financial Institutions, and reputation among its customers to grow the markets it serves through introducing innovative and digital products and services according to the highest standards in order to better support the State, the public sector, the private sector, and the citizens of the nation, the proposed TFEB’s strategy outlines three (3) primary, bank-wide objectives and six (6) sub-objectives:
1. Increase client focus and improve the revenue base:
- Retain state enterprises and diversify into private corporate clients
- Grow the retail segment
- Build a sales-oriented bank
2. Make operations efficient and cost-effective:
- Optimize processes and bank’s organization structure,
- Improve the IT and IT security,
3. Improve the capital structure
- Strengthen the capital base by improving the equity/ total capital ratio.
In order to enable progress against the proposed strategy, TFEB needs to adopt a ‘management by objective’ framework, according to which the efforts of TFEB and staff will be measured against specific goals. It is also recommended to manage according to the RACI framework, according to which each task has individuals assigned as Responsible, Accountable, Consulted and Informed).
Another cornerstone to implementation of TFEB strategy is investment in IT and digitalization. According to conducted assessment, there is an urgent need for TFEB to develop innovations and technologies in the upcoming years to catch up with the competitors. Therefore, TFEB is recommended to undertake the Digital Initiatives which will create the baseline for further development of Digital Business Models. These initiatives will enable sufficient maturity on automation and coverage of the core elements of the bank with IT solutions; and create the solid foundation of further development of IT and Business architecture.
Guided by the Sustainable Development Goals (SDGs) and the National Strategic objectives outlined in the Presidential Programme for Socio-Economic Development for 2019-2025, the National Banking Strategy, the Programme for development of economic, financial and banking sector for 2019-2025 and the Concept for Development of Digital Economy in Turkmenistan for 2019-2025, and inspired by the achievements of the joint project “Support in expanding access to International Development Finance” implemented in 2018, the State Bank for Foreign Economic Affairs of Turkmenistan (TFEB) and United Nations Development Programme (UNDP) have engaged in the new project to continue cooperation in developing an innovative business model and digitalization of TFEB.
The overall objective of the current project is to enhance TFEB’s capacity for better management of international development finance in order to implement SDGs and support implementation of the business and digital transformation of TFEB. In this regard, the project includes the following components: technical expertise for better mobilization and management of international development finance; improving alignment with international financial reporting standards (IFRS); building foundation for digital transformation; and developing capacity and capabilities of TFEB staff.
The project is in line with the National Strategic Objectives, the Long-Term Banking Strategy that focuses on improving the quality of banks’ products and services, an upgrade to payment systems, digital transformation in all layers of banking, support for the private sector, and compliance with international financial reporting standards.
In this regard, as the project supports modernization of IT infrastructure of TFEB through procurement of online banking software, the UNDP seeks the services of a qualified expert to provide required expertise towards meeting the above-mentioned objectives and act as an International Consultant – Specialist on Online Banking to develop Request For Proposal, Technical Evaluation during tendering and Quality Assurance at the final stage of implementation. The consultant will also deliver other relevant assignments as requested by Project manager.
Duties and Responsibilities
The objective of this assignment is to support development of technical specification and Request for Proposals (RFP) in line with the UNDP requirements for procurement of online-banking software for TFEB, which is the key to a successful tender and to ensure competitive, relevant and strong applications. It is also expected that the consultant will support quality technical evaluation during tendering and quality assurance at the final stage of implementation.
To achieve the above objective, the international expert will carry out the following concrete tasks:
- Provide technical and substantive inputs for development of technical specifications and procurement requirements (Request for Proposal) in accordance with technical requirements of the bank and in line with the UNDP requirements and regulations jointly with the UNDP project manager and TFEB staff;
- Support technical evaluation of tender applications, preparation of technical evaluation report to ensure best quality and value for money procurement;
- Write Quality Assurance Report for ensuring compliance with technical requirements of the bank, determine training needs and improvement in performance and quality, monitor performance.
The international expert will work with UNDP on a daily basis. He/she will report directly to UNDP Project Manager.
Deliverables and timeframe:
Deliverable 1: The Draft of RFP developed, including technical specification and requirements, and tender materials, estimation report.
Location: Home-based. Number of days: 15 working days.
Deliverable 2: Technical evaluation report completed.
Location: Home based. Number of days: 5 working days.
Deliverable 3: Quality assurance report developed after online-banking software installation and integration to existing system of the bank
Location: Home based. Number of days: 5 working days.
Number of days: 25 days (tentatively 01.07.2020 – 31.12.2020).
Payment conditions:
This is an instalment-based contract that should cover the costs of consultancy required to produce the above deliverables. The final schedule of payments will be agreed upon in the beginning of consultancy. Payment will be released in three instalments: 1st instalment: 40% (for deliverable 1), 2nd instalment: 30% (for deliverable 2), 3nd instalment: 30% (for deliverable 3), – upon timely submission of respective deliverables and their acceptance by UNDP Turkmenistan.
Competencies
Corporate Competencies:
- Demonstrates integrity by modelling the UN’s values and ethical standards;
- Promotes the vision, mission, and strategic goals of UNDP;
- Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability;
- Treats all people fairly without favoritism;
- Fulfils all obligations to gender sensitivity and zero tolerance for sexual harassment.
Functional Competencies:
- Good knowledge of banking IT architecture and technology, IT management processing and testing.
- Good understanding of banking IT strategy;
- Good understanding of banking digital industry, including market technology trends and product developments, especially around the online and mobile banking industry;
- Excellent facilitation and communication skills;
- Results driven, ability to work under pressure and to meet required deadlines.
Required Skills and Experience
Education:
University Bachelors’ degree in one of the related fields including IT architecture, Digital Technology, and other related fields. Higher degree in these fields is an advantage.
Experience:
- At least 5 years of experience in banking IT architecture and technology, IT management processing;
- Good knowledge of international standards and technology developments in banking industry;
- Previous relevant work experience with the UN or other international organizations is an asset;
- Knowledge and experience of work in the CIS, Central Asia and other countries with similar environment is an advantage.
Language requirements:
Fluency in English. Knowledge of Russian is desirable.
Submission of applications:
Interested individual consultants must submit the following documents/information to demonstrate their qualifications:
All experts applying for this position are required to provide:
- Brief (1-2 pages) description of the methodology for the assignment;
- Cover Letter which contains a brief description of approach to work/technical proposal of why the individual considers him/herself as the most suitable for the assignment, and a proposed methodology on how they will approach and complete the assignment; (maximum 1 page);
- A summary of experience in similar assignments;
- Financial Proposal with the references to (1) the daily rate for the assignment and within the timing scale indicated in the present TOR. Template of the form can be found at https://www.tm.undp.org/content/turkmenistan/en/home/procurement.html. The UNDP will enter into an Individual Contract based on a lump sum amount. The financial proposal shall represent a detailed, justified and “all inclusive” amount. In order to assist UNDP in the comparison of financial proposals, the financial proposal shall include a breakdown of this lump sum amount, including: a daily fee for the tasks and an estimated duration as specified in this announcement, travel (to and from the missions), per diems, any other possible costs (including vaccinations, dwelling, communication etc.);
- Personal CV form including past experience in similar projects and contact details of referees.
Evaluation of proposals:
Individual Consultants will be evaluated based on the combined scoring methodology. When using this method, the award of the contract should be made to the individual consultant whose offer has been evaluated and determined as:
- Responsive/compliant and
- having received the highest score – out of 100 points
Out of the maximum score, the score for technical criteria equals 70% - maximum 100 points, and for financial criteria 30%.
The technical evaluation will take into account the following as per the scoring provided:
- Education in IT industry and other related fields –30 pts;
- The experience (at least 5 years) in IT banking industry–30 pts;
- Knowledge and experience of work in the CIS, Central Asia and other countries– 10 pts;
- Methodology-10 pts;
- Fluency in English –10 pts;
- Fluency in Russian –10 pts.
Financial proposal – 30% of total evaluation.
Additional requirements for recommended contractor:
Recommended contractors aged 65 and older, and if the travel is required, shall undergo a full medical examination including x-ray, and obtain medical clearance from the UN-approved doctor prior to taking up their assignment. The medical examination is to be cleared by the UN physicians, and shall be paid by the consultant.