TERMS OF REFERENCE CREDIT MARKET DEVELOPMENT PROGRAMME PROJECT MANAGER 1. Introduction FSD Africa is seeking to hire a Project Manager on a retained part-time basis to assist in the implementation of its Credit Market Development Programme. Interested candidates are requested to send their proposals containing the information as specified in this request for proposals and to the email address indicated below. 2. Background 2.1. FSD Africa FSDA is a non-profit company based in Nairobi which promotes poverty reduction through financial sector development across sub-saharan Africa. It sees itself as a catalyst for change, working with partners to build financial markets that are robust, efficient and, above all, inclusive. It uses funding, research and technical expertise to identify market failures and strengthen the capacity of its partners to improve access to financial services and drive economic growth. FSDA is also a regional platform for financial market development. It aims to foster collaboration, best practice transfer, economies of scale and coherence amongst those organisations with a role in financial market development in sub-saharan Africa. In particular, FSDA provides support to the FSD Network. There are currently eight FSDs operating in Africa (in Kenya, Mozambique, Nigeria, Rwanda, Tanzania, South Africa, Uganda, and Zambia), in addition to FSDA. FSDA s vision is of African financial markets that are responsive to the broader developmental needs of African economies and people. Its mission is to be a resource to facilitate innovation, skills development and research to encourage the development of African financial markets that are robust and inclusive. 2.2. FSDA s Credit Market Development Programme In July 2016, FSDA launched a new Credit Market Development Programme (CMDP). The Programme, which will run for three years, aims to support the development of credit markets across sub-saharan Africa (SSA) that are efficient, inclusive and maintain high standards of market conduct in order to expand quality access to credit for retail and SME consumers. It will do this by facilitating change in the following areas: Improving the collection and dissemination of credit market statistics and related credit market analysis across all segments of the credit market within SSA countries, as well as across borders; Commissioning specialised credit market research and supporting knowledge sharing between policy makers, credit providers and investors; and Supporting specific credit market development projects implemented by policy makers in individual countries and regionally. The Programme will be implemented in partnership with FSDs and other facilitating agencies, as well as with research institutes, donors, regulators and government organisations. More information about the Programme is provided in Annex 1. 3. FSDA s requirements: CMDP Project Manager 3.1. Tasks FSDA wishes to appoint a financial sector or credit market specialist to fulfil the role of Project Manager in the implementation of the CMDP. The Project Manager will be involved in all areas of delivery of the CMDP s various 1
components. The role will include the following, with specific KPIs agreed with the Project Director and Inclusive Finance Director on contracting: Working closely with the CMDP Programme Director and Inclusive Finance Director to support the implementation, monitoring and administration of all components of the CMDP in target countries, as well as assisting with identifying future target countries; Engaging with financial sector regulators and other market players to identify market needs and originate interventions that aim to best meet these needs; Identifying and strengthening relationships with national, regional and international partners and stakeholders to enhance FSDA s work and influence in Africa s credit markets under the CMDP (e.g. regulators, governments, research institutes, industry practitioners, development agencies); Drafting project documentation including concept notes, project proposals, terms of reference, technical reports etc.; Leading/supporting project implementation, including managing short-term consultants engaged for specific CMDP tasks and ensuring agreed timelines are adhered to; Monitoring and reporting on programme progress, including participating in CMDP team progress meetings and contributing to the design and population of CMDP s results framework; In particular, playing a leading role in the implementation of a credit market report across select countries, the undertaking of analysis and developing research reports on priority topics related to credit market development, and the convening of workshops and other events in the region; Contributing to the design and delivery of a communications strategy for the CMDP, including the drafting of communications materials. 3.2. Criteria for selection The successful candidate will have extensive research, consulting and project management experience within the financial sector development field in Africa, ideally including experience in Africa s credit markets. Experience in working in a central bank or other financial sector regulator, a financial institution and/or with multi-lateral development institutions promoting financial sector development will be a strong advantage. The successful candidate will demonstrate strong communication skills, both written and verbal. The scoring that will be used for the evaluation of proposals is summarised in the table below. Candidates are strongly advised to clearly highlight their experience and capacities in each of these areas in their proposals. Communication skills will be assessed through the proposal, as well as an interview for shortlisted candidates. Shortlisted candidates may also be required to share examples of their work. Assessment Criteria Weighting (%) Relevant, demonstrated knowledge and experience within the financial sector development field in Africa, including research 30 Demonstrated knowledge and practical experience of Africa s credit markets 20 Demonstrated experience of effective project management of financial sector and/or credit market related interventions 20 Experience in working in a central bank or financial sector regulator, a financial institution and/or with a multi-lateral development institution promoting financial sector development 10 Fee basis, value for money 20 Total marks 100 Ideally, the successful candidate will reside in Nairobi or Johannesburg. S/he must be able to work independently and be willing to travel. S/he will report to and work closely with the CMDP Project Director, based in Johannesburg, as well as with FSDA s Inclusive Finance Director who is based in Lusaka and responsible for oversight of the CMDP. The selected individual will be retained on a consultancy basis for an average of 10-15 days per month for an initial period of six months, starting immediately following conclusion of the evaluation process. Subject to performance and the requirements of the programme, the arrangement may be extended. 2
4. Information required for proposal submissions FSDA is inviting proposals from suitably qualified consultants as specified in section 3. Proposals should be no more than 6 sides of A4 (excluding CV) and should include: - CV, tailored to the requirements outlined above (maximum 4 sides A4) with detailed contact information (email, phone number, Skype address), location of candidate (city, country) business-related social media contacts, if any (e.g. Linked-In, Twitter) - Summary of knowledge/expertise as relevant to the requirements outlined in section 3 - Statement (maximum 3 sides A4) of (a) why you believe you are the right person for the assignment (based on qualifications and experience as per criteria), (b) summary of your assessment of the key challenges and areas of priority for credit market development in Africa; and (c) your proposals for the most effective manner in which FSDA should be supporting the development and growth of credit markets in Africa - Statement describing your availability within the next 6-12 months and ability and willingness to travel - Current daily fee rate (in US$ or ) commensurate with the nature of a long-term retainer agreement and inclusive of Kenyan taxes (including WHT) - List of 3-5 recent relevant assignments and the actual rates and number of days engaged on each - Any other information you believe should be taken into account. Your proposal should be sent to FSDA at info@fsdafrica.org under a subject line reading Invitation to tender: CMDP Project Manager. It should be received by 1200hrs (EAT) on 15 January 2018. 5. Contact Questions or comments in respect of these terms of reference should be directed to Juliet Munro at juliet@fsdafrica.org copy info@fsdafrica.org. 3
ANNEX 1: FSDA S CREDIT MARKET DEVELOPMENT PROGRAMME IN BRIEF FSD Africa launched a new Credit Market Development Programme (CMDP) in July 2016. The Programme, which will run for three years, aims to support the development of credit markets across sub-saharan Africa that are efficient, inclusive and maintain high standards of market conduct in order to expand quality access to retail and SME consumers. The development of effective credit markets will, in turn, contribute to financial sector development, economic growth and job creation. The rate of credit market growth depends on a number of factors. At a country level, credit markets are often undermined by weak regulatory frameworks, low levels of enforcement and insufficient market infrastructure. Such weaknesses breed predatory lending practices and increasing levels of debt stress which, if left unattended, result in increased risk to consumers. In creating an effective legal and institutional framework that supports robust market growth, it is necessary to strike a realistic balance between increased and more inclusive credit supply on the one hand and effective oversight over market conduct and consumer protection on the other. The absence of reliable and consistent data and analysis covering all types of credit supply is a common weakness across most countries in Africa. Amongst other things, the dearth of such information negatively impacts on policy formulation and regulation and undermines the capacity of private credit institutions to develop expansion strategies and manage risk. It also undermines the ability of investors to make credit investment decisions and limits the capacity of development agencies to design and support effective market development strategies. At the same time, credit markets in many African countries are expanding rapidly. The statistical weaknesses create significant risk of over-indebtedness cycles and institutional failure which may cause damage to consumers and destabilise financial markets, as has happened in countries in Latin America, Asia and central Europe. The CMDP seeks to address these weaknesses by focusing on: Improving the collection and dissemination of credit market statistics across all segments of the credit market within SSA countries, as well as across borders; Improving specialised credit market research and knowledge sharing between policy makers, credit providers and investors in different countries; and Supporting specific market development projects at a regional basis, and in specific countries. - The following table summarises the Programme s different components: COMPONENTS OF THE CREDIT MARKET DEVELOPMENT PROGRAMME A. Credit Market Report Regular annual reports with comparative credit market statistics and analysis across a broad range of African countries B. Credit Market Diagnostic Tool C. Market Monitoring Programme D. Series of special credit market research reports E. Capacity building, training and knowledge transfer F. Credit innovation through a regional innovation fund A standardised diagnostic report applied in different countries to provide comparative statistics on the size and profile of the credit market as well as key features of credit market infrastructure Support to selected central banks to implement intensive market monitoring programmes for the collection of regular statistics across all credit providers and credit products in order to support both market monitoring and risk based bank supervision Focused research reports on cross-country comparative credit market themes. Include transfer of knowledge on African success stories to a regional audience A range of knowledge sharing interventions, focusing on specific credit market themes to facilitate both regional information sharing, peer learning and transfer of specialised skills A regional innovation fund to allocate funding to credit institutions for research, product development and implementation around priority themes 4
G. Support to regional bodies H. Implementation support for specific interventions Support to regional regulatory and policy bodies to introduce credit market development as an area of focus Support to interventions to address identified areas of weakness in response to requests from specific countries 5