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Digital Financial Services Partnerships Consultant
|Advertised on behalf of :|
|Location :||Kuala Lumpur, MALAYSIA|
|Application Deadline :||25-Aug-20 (Midnight New York, USA)|
|Type of Contract :||Individual Contract|
|Post Level :||National Consultant|
|Languages Required :||English|
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.
UNCDF is the UN’s capital investment agency for the world’s 47 Least Developed Countries (LDC). 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.
With its capital mandate and instruments, UNCDF offers “last mile” financing models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local development. UNCDF targets low-income and underserved populations and areas in the LDCs where resources for development are the scarcest; where market failures are most pronounced; and where increased national economic prosperity does not reach a large part of the population. UNCDF focusses on local development finance and inclusive finance, using its capital mandate paired with strong technical and policy support to help communities and individuals save, borrow and invest.
UNCDF’s objective is to develop inclusive financial systems in which a range of financial products are 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).
INTRODUCING DIgital Finance and FINANCIAL HEALTH In UNCDF
UNCDF manages several initiatives in LDCs in Asia and Africa, to develop an inclusive digital finance eco-system that offers a wide range of financial services specially for low income vulnerable communities. Specifically, UNCDF provides a mix of policy, technical and financial support to a range of government and private sector actors in each country, as well as invests in research and other public goods that benefit all market actors. By supporting the development of digital finance eco-system in these countries, UNCDF aims to increase the financial security of low income and rural households through access to appropriate, affordable and secure means to receive, manage and save money.
Financial health is a term used to describe the state of one's personal financial situation and assessed through four financial activities: spend, save, borrow, and plan. With support from MetLife Foundation, UNCDF is working with fintech, micro finance institutions, banks and think tanks to implement digital innovations focused on building financial health of low-income population in Malaysia and China. UNCDF plans to further this intervention in other emerging countries.
Under its strategy for leaving no one behind, UNCDF’s innovation team has been leading interventions designed to enhance financial health and wellbeing of low income and underserved segment both in emerging markets and LDCs. UNCDF has established Innovation Lab in Malaysia that support digital innovations (both financial and non-financial) in different markets and focused on multiple sectors including agriculture, health, financial services, micro small enterprises and others. Innovation Lab’s support includes technical assistance and grant investment.
The objective of this assignment is to work as part of UNCDF team in driving partnerships for scale with existing and new projects in Malaysia. Partnerships which leverages digital finance solutions to improve the financial lives of different key market segments like GIG workers, youth, women, small businesses, etc.
Duties and Responsibilities
The programme has established few product partnerships with wallet providers, micro-investment services, banks, etc. While these partnerships are focused on delivery of respective product and services, scale is a key constituent to demonstrate success. Scale could be achieved through improvement in product and services itself, or by focused interventions around communications or markets, or by furthering certain customer level partnerships that allows the targeting of captive customer base with large employer groups or platforms, etc. In this role the consultant will work on driving the partnerships specially at customer level and engage with product partners to drive meaningful market development. UNCDF is also working in partnership with Malaysia Digital Economy Corporation (MDEC) on furthering e-Barakat platform that aims to bridge the supply side players (solution providers) to the demand side at market level. UNCDF along with MDEC aims to scale the use of the platform and drive meaningful partnerships for scaling the same in terms of customer impact. In addition, the consultant would work closely with other DFS experts working on providing technical support to the product partners in identifying the gap in the product uptake and work with them in improving the same.
The Consultant will be responsible to carry out the following activities with specific deliverables:
Required Skills and Experience
Timeline, total number of working days, duty station:
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. UNCDF would cover the cost of stay for the selected person.
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.
Please note that consultants residing in the duty station will not be compensated for living expenses.
Progress Controls & Payments:
Payment will be made against each satisfactorily achieved deliverable. All payments are subject to the clearance and approval of the Technical Specialist Malaysia and/or Regional Technical Specialist – Asia. Final payment shall require a signed performance evaluation of the consultant.
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:
Incomplete applications may not be considered. Please make sure you have provided all requested materials.
Step I: Longlisting
Applications will be screened and only applicants meeting the following minimum criteria will progress to the pool for shortlisting:
Step II: Shortlisting/Desk Review (50 points)
UNCDF will produce a shortlist of candidates and technically evaluate candidates as per experience requirements in this Terms of Reference.
Shortlisting scoring (100 points):
Step III: Interview (50 points)
Applicants scoring a minimum of 70 points in the desk review shall be invited for an interview. The interview will have a pass/fail mark of 70%.
Step IV: Financial Evaluation
Only applicants obtaining a minimum of 70% on the total of Step II (50 points) + Step III (50 points) shall be considered as technically-qualified and 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
The contact shall be awarded to the applicant whose offer have been evaluated and determined as:
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.