Financial Inclusion Expert to support FSP
UNDP - United Nations Development Programme, Banjul, Gambia The
UNCDF is the UN’s capital investment agency for the world’s least developed countries. It creates new opportunities for poor people and their communities by increasing access to microfinance and investment capital. UNCDF focuses on Africa and the poorest countries of Asia and the Pacific, with a special commitment to countries emerging from conflict or crisis. It provides seed capital – grants and loans – and technical support to help microfinance institutions reach more poor households and small businesses, and local governments finance the capital investments – water systems, feeder roads, schools, irrigation schemes – that will improve poor peoples’ lives. Its programmes are designed to catalyze larger investment flows from the private sector, development partners and national governments, for significant impact on the Sustainable Development Goals (SDGs): UNCDF's primary contributions are to SDG 1, with a focus on reaching the last mile and addressing exclusion and inequalities of access, and SDG 17, with a focus on unlocking public and private finance for the poor at the local level. Since 2010 UNCDF has been actively working to increase youth financial inclusion: to date, we have supported 10 financial services providers (FSPs) to reach 822,000 young people, collect US$20 million in savings and provide loans to 210,000 young entrepreneurs.
UNCDF is bringing its expertise in promoting a green and climate resilient local communities and economies and youth access to finance, including through digital, in support of job creation, under the “Jobs, skills and finance (JSF) for women and youth in The Gambia” programme to be funded by the 11th European Development Fund. This programme will contribute to stabilizing the economic, social and security situation of the country during the democratic transition by facilitating social inclusion and employment of the youth and women, with a specific emphasis on promoting gender equality and addressing climate change.
The approach builds on lessons learned from UNCDF experience in job creation and promoting a green and climate resilient economy and youth access to finance: specifically, it will use the approach and lessons from the Local Climate Adaptive Living” (LoCAL) facility of UNCDF. For the access to finance component, UNCDF will leverage the lessons learned and best practices from two of its flagship programmes: YouthStart and Mobile Money for the Poor.
Within its JSF mandate, UNCDF is providing technical assistance to a commercial financial service provider (FSP) to set up a new Microfinance Institution (MFI) as a potential way of revitalizing the market by increasing competition. The project is in line with the Programme’s objective as it aims to address the existing gap in the provision of financial services with a large population of the country having no access to financial services. It will tackle this opportunity by targeting low-income and vulnerable groups that are excluded from the current system.
Duties and Responsibilities
Within this framework, UNCDF is looking for a Financial Inclusion Expert to provide Technical Assistance to the commercial bank and ensure the launch of the new MFI in 2019.
Under the overall guidance of the JSF Country Manager and in close collaboration with the Youth Finance Programme Manager and her team (in Dakar) and the JSF Programme Specialist (in Banjul), the consultant will:
Number of days
Due completion date
Complete the mapping of the technical assistance (TA) needs of the FSP partner
- .HR gap analysis with recommendation on organizational structure
- Funding gap analysis with recommendations for a funding strategy
- Project plan for implementation of activities and TA tailored plan
- Compliance gap analysis with recommendations to ensure full license from the Central Bank
Support in setting up a business plan with financial projections for the new entity
- Clear Business plan with financial projections and annual working plan.
- Social performance framework is included in the strategy
- Governing and management bodies in place to provide strategic support
- Digital finance vision is endorsed in the business plan.
Support the FSP in setting up the risk management, operations and controls framework
- Risk Management Policies, procedures and risk mitigating measures (credit, solvency, funding, asset and liability management) are defined, approved and disseminated
- Human resources:
- HR policies, including training and recruitment plan are in place and disseminated
- All key departments and positions are in place
- Manuals and reporting system are completed and disseminated
- Audit and internal controls
- Procedures and processes are in place
Timeline, Duration of Assignment, Duty Station and Expected Places of Travel
- Timeline and duration: The consultant is expected to start on May 15 and finish the consultancy in December 2019
- Estimated number of days: 50 days
- Duty station: Home based with up to three (3) missions to Banjul.
- 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.
Monitoring and Progress Control
- Monitoring of progress shall be measured both according to the activities and quality of the deliverables of the contractor.
- The consultant must secure approval from UNCDF´s Youth Finance Portfolio Manager
- The consultant will conduct briefings to the UNCDF teams prior to departure of the on-site mission and/or upon request of UNCDF.
- The consultant will organize progress calls with UNCDF at the end of each stage of the assignment to provide updates on activities and progress.
- Payment will be made on periodical basis in accordance with number of days worked and upon receipt and satisfactorily achieved deliverables. All payments are subject to the clearance and approval of the Programme Managers in Dakar and Brussels.
- Final payment shall require a signed performance evaluation of the consultant.
- Leadership: Ability to engage and build consensus.
- Excellent analytical skills.
- Demonstrate the ability to design, organize and plan the activities required to produce the results.
- Excellent writing and synthesis skills.
- Excellent ability to interact in a multicultural environment and to communicate orally and in writing.
- Ability to foster teamwork and establish effective working relationships.
- Excellent organizational skills.
- Ability to anticipate constraints in the delivery of services and identifies solutions or alternatives
Required Skills and Experience
- A Master’s Degree is required in economics, public/business administration, social sciences, microfinance or related discipline.
- A minimum of ten years’ experience in progressively more responsible positions in technical assistance and/or advisory services to financial services providers
- Proven track records of clients (FSPs) assisted in similar assignments (e.g. institutional transformation)
- Extensive experience (5+ years) in best practices in financial inclusion, microfinance sector, including financial innovation and social performance
- Experience in capacity building and advisory services to private actors (5+ years);
- Experience in West Africa Region is preferred (three or more years in the region);
- Excellent writing and communication skills is preferred.
- Fluency in English.