Background

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.

Recently, 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 (SDGs) aligns with the vision of promoting 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. Please refer to the link for further information: https://www.uncdf.org/article/4931/global-strategy-leaving-no-one-behind-in-the-digital-era

For years, many financial inclusion practitioners assumed that providing access to finance would enable people to use money in ways that would set them up for success. But having access does not cause people to be financially healthy, stable, and successful. For example, only 29% of Americans are financially healthy despite a booming economy and near-universal financial inclusion. 83% of Kenyans were financially included in 2019 but only 22% were deemed financially healthy, a drop from 39% in 2016.

Financial inclusion tends to be reduced to binaries as opposed to being a discussion of a spectrum. Financial health, on the other hand, is arguably a more customer-centric concept, one that offers principles to define impact more holistically, measure it systematically and create it in in a sustained and meaningful manner. Fundamentally, it is a non-product-centric approach based on the end consumers' needs. 

Financial inclusion and financial health are also fundamentally different approaches, with distinct entry points. With financial inclusion we start with the question, “What does a financial product or service unlock?”. With financial health we turn this notion on its head and ask instead, “What does it take to be financially healthy?”. Using this “impact” question as an anchor, we work backwards to better align financial interventions to what makes customers financially healthy. While digital has been a big enabler for driving financial services, the question still remains on driving the use of digital in a responsible manner and that SDGs could be achieved in true spirit.

In line with this, UNCDF is broadening its focus on financial health by investing in efforts around advocacy, research, and insights and programming. As part of these efforts we are rolling out a global centre that would allow the work at different levels of Advocacy, Data and Insights, Searching and Investing solutions or business models while supporting the implementation in a living lab/in-country platforms in various markets of Asia, Africa and South America that would allow the tracking of impact and inform learnings over the next five years. Some of these efforts have already started with living lab/in-country platform based out of Malaysia, China and India.

Given the above focus, the Financial Health and Innovations team is looking to strengthen its engagement on innovations specially those linked to driving both private sector innovations and with government sector around measurement of SDGs through Financial Health, etc. This TOR is part of the global team on financial health and innovations and would work closely in driving initiative not within the scope of living lab but linked to innovations and financial health at the country level broadly. The consultant would work closely with the programme teams working at living lab in-country and coordinate globally within the centre team.

Duties and Responsibilities

The Partnership consultant – Innovations and FH will report to the Global Manager - Innovations and Financial Health. The consultant would primarily work on driving special projects linked to innovations and financial health excluding living labs that are necessary for driving the outcomes linked to digital innovations and financial health. The consultant would also work on driving south-south engagement under the programme.

The Consultant will be responsible to carry out the following activities with specific deliverables:

Timeline, total number of working days, duty station:

• Timeline: December 2020 to November 2021
• Total Number of Working Days for Assignment: up to 220 working days within 12 months
• Duty stations: Home Based with travel as required.

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.

Progress Controls & Payments:

Payment will be made against each satisfactorily achieved deliverable. All payments are subject to the clearance and approval of the Global Manager – Innovations and Financial Health. Final payment shall require a signed performance evaluation of the consultant.

Competencies

• Open to working on challenging projects that require in-depth support to partners largely on strategic levels.
• Experienced in managing clients and partners—specially working with senior leadership at private sector and policy makers.
• Open to working in multi-cultural and with a diverse team of professionals.
• Results-driven, problem-solver with structuring and analytical capabilities.  
• Strong ability to think and act strategically, even in situations of ambiguity, to develop both short- and long-term visions.   
• Inspires others, influences and builds trust.
• Strong communicator that can serve multiple functions as needed.   
• Team management skills; ability to guide team on a common objective.

Required Skills and Experience

Education:

• Master’s degree in either economics, social or international development, finance, business administration, public policy or related field.

Experience:

• 10+ years of international professional experience in social development, financial inclusion, impact investing, microfinance, or telecom.
• At least 5 years of professional experience in managing multi country teams related to financial products and services and/or digital financial services or other related areas of operations.
• Understanding of regional and sectoral context to inclusion and sustainable finance. 
• Proven track record in developing and managing large programmes, business relationships, experienced in developing processes and systems.
• Experienced in designing programs with SDG focus, understanding SDG measurement and tracking.  
• Experienced in scoping, designing, and implementation of private sector and civil society organizations engagements for sustainable finance.
• Proven experience of independently managing projects/tasks with defined KPIs and timelines. 
• Experience in overseeing/implementing qualitative or quantitative research is a plus.
• Experience in writing detailed progress reports.
• Exceptional written and oral communications skills.

Language:

• Fluency in English both spoken and written

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);
• Curriculum Vitae and/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 fee and other professional expenses, such as insurance, taxes, etc. (Available at: http://procurement-notices.undp.org/view_file.cfm?doc_id=29916).

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

Evaluation: 

Step I: Screening: 

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

• Master’s degree in either economics, social or international development, finance, business administration, public policy or related field;
• 10+ years of professional experience in social development, financial inclusion, banking, micro-finance, or telecom;
• At least 5 years of professional experience in managing multi country teams related to financial products and services and/or digital financial services or other related areas of operations;
• Fluency in English both spoken and written.

Step II: Desk review (50 points):

UNCDF will conduct a desk review to produce a shortlist of candidates according to the criteria listed below. Only applicants that obtain 70% of the points at this stage shall be considered for an interview.

Shortlisting scoring:

• 10+ years of professional experience in social development, financial inclusion, banking, micro-finance, or telecom. – 30 points
• At least 5 years of professional experience in managing multi country teams related to financial products and services and/or digital financial services or other related areas of operations. – 25 points
• 2 years of experience in designing programs with SDG focus, understanding SDG measurement and tracking. – 15 points
• 5 years of experience in developing and managing business relationships with private sector, government agencies/regulators and civil society organizations. – 15 points
• Experience in implementing/overseeing qualitative or quantitative research is a plus. – 15 points

Step III: Interview (50 points)

Applicants who obtain a minimum of 70% at Step II shall be invited to a panel interview. The interview will have a pass/fail score of 70%.

Step IV: Financial Evaluation:

Only applicants who obtain a minimum of 70% on the total of Steps II (50 points) + III (50 points) will be considered as technically qualified and will be reviewed further for financial evaluation. 

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

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

Award Criteria

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

• Responsive/compliant/acceptable; and
• Having received the highest combined weight technical (desk review and interview) 70% + financial 30% = 100%.

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.