International Consultant, Due Diligence, Domestic / Regional Banks for engagement with Credit Guarantee Corporation Cambodia



Advertised on behalf of :

Location : Home based with travel to Phnom Penh, Cambodia and Bangkok, Thailand
Application Deadline :22-Jan-21 (Midnight New York, USA)
Type of Contract :Individual Contract
Post Level :International Consultant
Languages Required :
English  
Starting Date :
(date when the selected candidate is expected to start)
01-Feb-2021
Duration of Initial Contract :30 days
Expected Duration of Assignment :30 days spread over 6 months

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.

UNCDF’s financing models work through three channels: inclusive digital economies, connecting individuals, households, and small businesses with financial eco-systems that catalyze participation in the local economy, and provide tools to climb out of poverty and manage financial lives; local development finance, that capacitates localities through fiscal decentralization, innovative municipal finance, and structured project finance to drive local economic expansion and sustainable development; and investment finance, that provides catalytic financial structuring, de-risking, and capital deployment to drive SDG impact and domestic resource mobilization. By strengthening how finance works for poor people at the household, small enterprise, and local infrastructure levels, UNCDF contributes to Sustainable Development Goal-SDG 1 on eradicating poverty and SDG 17 on the means of implementation. By identifying those market segments where innovative financing models can have transformational impact in helping to reach the last mile and address exclusion and inequalities of access, UNCDF contributes to a broad diversity of SDGs.

UNCDF are currently implementing a project “Unlocking Cambodian Women’s Potential through Fiscal Space Creation” under the UN COVID Fund that is providing technical and non-technical support to the Royal Government of Cambodia (RGC) to operationalisation the Credit Guarantee Corporation of Cambodia (CGCC).

As a direct consequence of the global pandemic the RGC is currently implementing a series of broad stimulus policies and public sector investments whilst simultaneously maintaining fiscal discipline to expedite economic recovery. A key component of the recovery policy is the establishment of the CGCC that will provide immediate financial relief to existing SMEs and on a longer term provide incentives for the private sector to engage in structural transformation of the economy.

The CGCC has been formally established within a very short time period through an approved policy framework document that has been developed by RGC MEF with TA provided by Asian Development Bank (ADB). The policy framework provides a definitive mandate for the CGCC as a part independent agency of the MEF and sets out its vision and mission in the short and medium to long term. The framework additionally provides a set of global standards (developed by the World Bank) to the organisation, function, management and transparency of the CGCC.

Currently a CEO for the CGCC has taken up position and recruitment of senior managers and core staff is being undertaken. The CGCC has also been registered and formalised as an organisation of the RGC. During the process of the establishment of the CGCC a series of consultations was held by the MEF that provided the basis for indicative design the current project. As the CGCC establishment process was rapid a need exists to revisit the project design and in partnership with CGCC CEO and MEF establish a firm set of development pathways (road map) and clear division of labour to professionally operationalisation the CGCC.

UNCDF’s core role is to support the RGC operationalisation the CGCC in terms of organisational development and human capacity development. As previously envisaged these features will include hard and soft infrastructure development that is combined with research to develop evidence-based policy for CGCC especially in the medium to long term (phase II of the CGCC policy framework. The research and policy components will be implemented by UNDP Cambodia and IOM respectively. In addition, ADB will be continuing their support for the CGCC specifically working in the area of credit criteria’s and potentially the due diligence of the IFPs. Discussions between ADB and the JP have taken place to assure that all support to the CGCC is complimentary.

The consultancy aims at providing high level TA support to the CGCC CEO to assist to generate a tool to undertake credible due-diligence and monitoring of the regional and domestic public finance institutions (PFIs) to support their access to the CGCC facilities. The scope of the due diligence will necessarily be agreed with the CEO of CGCC, Ministry of Economy and Finance (MEF) and the National Bank of Cambodia (NBC). This scope will additionally carry specific criteria that aligns to international transparency, rights and equality, thereby building-in normative values to the assessments.  The due diligence process and associated tools will serve to expedite the operationalisation of the CGCC and provide clear policy pathways for phase I and phase II services as described in the CGCC policy framework document.

The UNCDF portfolio in ASEAN

Historically UNCDF have designed and implemented local development initiatives in a majority of the ASEAN member states both at national and sub-national levels. In particular, in alignment to its mandate, UNCDF has mainly operated in the Least Developed Countries, of the ASEAN region including (1) Cambodia, (2) Lao PDR, and (3) Myanmar.

In Cambodia, UNCDF has been engaged extensively in the government’s decentralization process through the Ministry of Interior and the National Committee for Sub-National Democratic Development (NCDD) through various initiatives that have developed the inter-governmental fiscal transfer mechanisms that underpin sub national SDG financing through the public sector budget.  

UNCDF is working directly with the Ministry of Economy and Finance (MEF) within the spheres of (i) Public Private Partnerships, (ii) Financial Management and Public Policy and (iii) Macro-Economic Support as a component of this program. UNCDF is working in partnership with UNDP, the World Bank, ADB and other Development Partners in this area of work with MEF.

Objective of the assignment

The main objective of the assignment is to support the CEO of the CGCC to establish a systematic process to undertake, on a regular basis, due diligence of the CGCC clients and potential clients. The due diligence will apply international standards and in addition normative values that include transparency, rights and equality.  The system and process will serve to expedite the operationalisation of the CGCC and provide clear policy pathways for phase I and phase II services as described in the CGCC policy framework document.


Duties and Responsibilities

Under supervision of UNCDF Regional Technical Advisor for Asia, the consultant will specifically work with the CEO of the CGCC in partnership with MEF, UNDP and NBC

1. Reach agreement with the CEO CGCC, MEF, NBC and development partners (UNDP, ADB and WB) related to the scope of the due diligence, questionnaire, data management and associated digital tools for data capture and maintenance  

2. Consolidate all feedback and in agreement with the CEO CGCC and UNCF generate a CGCC internal Standard Operational Procedures (SOP) manual for continual due diligence of CGCC partners.

3. Develop a digital tool to capture data collection and the maintenance of such data, linking it to the emerging CGCC information management system.

4. Pilot test the SOP and tool for 3 PFIs as agreed with the CEO of CGCC  

Deliverables

The consultant will deliver the following within the framework of the consultancy:

  1. A work plan indicating timebound milestone deliverables and list of required meetings and consultation to enable the work to be completed.
  2. A scoping document, questionnaire and analysis tools to undertake and maintain due diligence of the PFIs that are applying for CGCC support and who are receiving credit guarantees   
  3. A SOP for CGCC for client due diligence and establishment of d-base or incorporation with NBC information and CGCC MIS that latter that is currently being developed 
  4. Documentation and report on the testing of the SOP, its systems, processes and tools to support CGCC undertake due diligence of domestic and/or regional PFIs to expedite and operationalize the credit guarantee scheme.

Provision of Monitoring and Progress Control

The consultant will work under the supervision of the UNCDF Regional Technical Advisor (RTA) for Asia and CEO CGCC and fully coordinate with MEF, NBC, UNDP and IOM Cambodia. The RTA who provide overall direction and guidance of the consultancy and approve key outputs and deliverables.  In addition, the consultant will also coordinate and collaborate with ADB and WB country offices, Phnom Penh, Cambodia.

Consultancy fees will be paid upon:

(i) review, approval, acceptance of output for each deliverable and

(ii) submission of Certificate of Payment form

(iii) authorization of payment disbursement from Regional Technical Advisor based in Bangkok

Terms of Payment

The following terms of payment based upon the above-mentioned deliverables will be applicable for this Terms of Reference. Payments will be based upon a percentile of the contracted lump sum for each area as tabulated. The payment will only be made up on satisfactory completion and submission of the assignment and deliverables.

Deliverable 1:  Submission of Work Plan (30%) 

Deliverable 2: CGCC SOP for Client Due Diligence - (i) A scoping document, questionnaire and analysis tools to undertake and maintain due diligence of the PFIs that are applying for CGCC support and who are receiving credit guarantees; (ii) A SOP for CGCC for client due diligence and establishment of d-base or incorporation with NBC information and CGCC MIS that latter that is currently being developed  (50%)

Deliverable 3: Documentaion and Report on the testing of the SOP, its systems, processes and tools (2 to 3 PFIs) (20%)

Othe Institutional Arrangements: 

Any travel required under the assignment needs to be agreed and pre-approved by UNCDF regional technical advisor. All the travel cost will be reimbursed by UNCDF according to UNCDF rules and regulations.

The consultant is expected to use his/her own equipment during the assignment.


Competencies

  • Possesses a comprehensive knowledge of finance sector and associated monitoring tools for due diligence;
  • Understands national credit guarantee systems and deployed tools
  • Has the ability to develop and formulate financial analysis of financial service providers
  • Core technical understanding of CRM processes and tools;
  • Has knowledge of the current financial sectors and credit guarantee facilities in the ASEAN +3 region
  • Able to provide in-depth peer reviews of existing PFI performance reports issued within the public domain
  • Able to develop standardised questionnaires for government consumption in the areas of the finance sector, national and regional actors focusing on PFI finance products, their reach and their utilizations 
  • High quality English language skills;
  • Excellence in use of MS Excel financial analysis and graphing tools. 

 


Required Skills and Experience

Education, Skills and Experience: 

  • Minimum Master’s Degree in economics, finance or international MBA;
  • Minimum 5 years of professional experience in the financial sector in the areas of risk management, due diligence and CRM
  • Proven track record in developing analytical tools to ascertain ranking of clients in the context of a multiple criteria due diligence that covers financial stability, product range is required,    
  • Proven professional track record related to development financing inclusive of research and analysis is required;
  • Experience on credit guarantee schemes and systems is considered an advantage
  • Specific knowledge of financial risk analysis and associated ranking of clients is an advantage
  • Proven capacity working with government finance in the ASEAN +3 region an advantage.
  • Able to work within a team environment and promote collaborations
  • Good communication skills, sensitivity and willingness/flexibility to respond to client’s needs

Evaluation method

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, which assigns the weight distribution between the technical and financial proposals.  The weight distribution shall be 70% technical and 30% financial. 

Step I: Longlisting/Shortlisting

  • Applications will be screened and only applicants meeting the following minimum criteria will be shortlisted:
  • Minimum Master’s Degree in economics, finance or international MBA;
  • Minimum 5 years of professional experience in the financial sector in the areas of risk management, due diligence and CRM

Step II: Technical Evaluation (Desk review of CVs)

UNCDF will conduct a desk review to produce a shortlist of candidates by evaluating the following criteria with the corresponding points (100 points)

  • Minimum 5 years of professional experience in the financial sector in the areas of risk management, due diligence and CRM (30 points)
  • Proven track record in developing analytical tools to ascertain ranking of clients in the context of a multiple criteria due diligence that covers financial stability, product range is required (35 points)
  • Proven professional track record related to development financing inclusive of research and analysis is required (35 points)

Only the applicants achieving 70% of the points will be considered as technically qualified and will be reviewed further for financial evaluation.

Step III: Financial Evaluation

The following formula will be used to evaluate financial proposal: Lowest priced proposal/price of the proposal being evaluated x 30%.

Application

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;
  • Summary statement of competencies in relation to the TOR

Under section E of the Offerer’s letter to UNDP Confirming Interest and Availability for the Individual Contract (IC) Assignment, please provide the all-inclusive daily fee. The form can be accessed through the link below:

https://popp.undp.org/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP_DOCUMENT_LIBRARY/Public/PSU_%20Individual%20Contract_Offerors%20Letter%20to%20UNDP%20Confirming%20Interest%20and%20Availability.docx&action=default

  • 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  If the consultant is over 65 years old, UNCDF reserves the right to require full medical certification and clearance from the consultant’s physician prior to commencing the travel.

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).  If the company or institution that employs them will charge a management fee, the said amount must be incorporated in the financial proposal that the individual will submit.  No further changes to reflect additional costs shall be accommodated by UNCDF at the point of awarding the LTA.

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

Copyright

All products and reports related to the mission will be provided to UNCDF and be subject to associated copyrights. The contractor will not use, without prior permission of UNCDF, any the materials or data produced during the mission for any other purpose than furnishing UNCDF with a project delivery. Any use or reference to the information contained within the presented mission documents must be prior clarified and approved by UNCDF and clearly reference UNCDF as the source.

Consultant Presence Required on Duty Station/UNCDF Premise

The position is home-based but consultant presence may be required in Cambodia intermittently. 



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