Financial Services Consultant

Consultant

Contract

This is a International Consultant contract. More about International Consultant contracts.

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.

In this context, UNCDF in partnership with the Govt of Odisha (Mission Shakti) is setting up a living lab in India to impact 3.5 million women and women entrepreneurs, that would focus on increasing women’s agency and participation in new digital economy of the state and country.

Duties and Responsibilities

The Financial Services Consultant will report to the Living Labs Lead and work closely with Mission Shakti counterparts. The consultant will be responsible to manage projects with partner(s) and provide technical assistance for effective implementation of the project. S/he will also be responsible to coordinate with on-ground Partnership team, booster team and behavioral science/human-centered design (HCD) Consultant for effective roll out of pilots. This is a full time role and the consultant is expected to work out of the UNCDF office in Odisha.

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

Activity

Output/Deliverables

Number of workdays

Timeline

Set up Living Labs project management unit (PMU)

• Business case
• Work plan
• Project launched by partner

10

Month 1-2

Develop toolkits on digital and financial literacy in coordination with partners and communication team

• Information, education and communication (IEC) materials designed and developed for Digital and financial literacy

30

Month 1-3

Technical guidance to Mission Shakti in upgrade of MS portal/app as super app

• MS app-business requirements specification - Word/PPT

20

Month 2-4

Facilitate the business case for Financial Service providers (FSPs) ecosystem of agent networks and banking in pilot geographies

• Stakeholder map
• Business case
• Discussion and business case presentation for FSPs to set up agents in project districts
• Recommendations report
• Implementation plan

20

Month 3-5

Setting up one-stop centers, their training and capacity building

• Business case
• Work plan
• Curricula and materials
• Conduct training and capacity building of one-stop centers and business correspondents and coordination with FSP

20

Month 3-5

Self Help Groups (SHG) Internal activity data digitized

• Data digitisation completed
• Report on digitisation

30

Month 6

Review of the status of on-ground pilots.

• Review Report of 3 partners including technical assistance (TA) provided KPIs and financial performance

20

Month 7

Draft Project Description, workbook, learning plan and results management (RM) framework for 2021 round of partners.

• Project Description, Project Workbook, RM Plan and Learning Plan

20

Month 6-9

Develop 3 learning collaterals in coordination with research and insight team

• Design of learning themes
• Recommendation report
• 3 learning collaterals (briefing note/blog/other)

20

Month 6-8

Project inception and work plan finalized for Living Lab Odisha

• Inception meeting minutes
• Work plan

20

Month 9

Technical assistance to partners (1 and 2) to implement the activities on ground

• Business case
• MVP
• Roll out plan

30

Month 10-13

Yearly Progress Report

• First year progress report

30

Month 12-14

Technical assistance to partners (3 and 4) to implement the activities on ground

• Business case
• MVP
• Roll out plan

30

Month 13-17

Review of the status of on-ground pilots

• Review Report of 4 partners including technical assistance provided KPIs and financial performance

20

Month 17

Review of performance of one-stop centers

• Review Report including technical assistance provided KPIs and financial performance

10

Month 18

Develop 3 learning collaterals in coordination with research and insight team

• 3 learning collaterals

20

Month 20

Review of the status of on-ground pilots

• Review Report of 4 partners including technical assistance provided KPIs and financial performance

20

Month 21

Draft Project Description (2 projects), workbook, learning plan and RM framework for next round of partners

• Project Description, Project Workbook, RM Plan and Learning Plan

20

Month 22

Technical assistance to 4 partners to implement the activities on ground

• Deliverables as per the work plan

40

Month 24

Develop 3 learning collaterals in coordination with research and insight team

• 3 learning collaterals

10

Month 24

TOTAL

440

Timeline, total number of working days, duty station:

• Timeline: Dec 2020 to Dec 2022
• Total Number of Working Days for Assignment: up to 440 working days within 24 months
• Duty station: Bhubaneswar, Odisha, India

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.

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 operations level.
• Experience in managing clients and partners—from early stage companies to mature organizations.
• Solution-focused and medium-agnostic, willing to step out of your core skill set or discipline to find the correct solution to a challenge.
• Open to working in multi-cultural and with a diverse team of professionals.
• Results-driven, problem-solver with structural and analytical capabilities.
• Strong ability to think and act strategically, even in situations of ambiguity, to develop both short- and long-term visions.
• Strategic thinking for planning country strategy and resource mobilization plan for same.
• Inspires others, influences and builds trust.
• Strong communicator that can serve multiple functions as needed.

Required Skills and Experience

Education:

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

Experience:

• Minimum 5 years of professional experience in digital finance, social development, banking, micro-finance, telecom or agriculture sector in India
• At least 3 years of professional experience in driving digital financial services and customer adoption
• Experience of managing regional/state level projects
• Experience of working on government-supported project and coordinating with government counterparts
• Experience of working in projects with focus on gender would be a plus
• Proven experience of independently managing projects/tasks with defined KPIs and timelines
• Experience in developing and managing business relationships with private sector, government agencies/regulators and civil society organizations
• Experience in designing and managing qualitative or quantitative research is a plus
• Experience in writing case study, project descriptions, work plans, budgets, research papers or other learning materials
• Previous experience of working with UNDP or UNCDF or UNDP/UNCDF- or other multilateral agency or foundation funded projects is a plus
• Exceptional written and oral communications skills.

Language:

• Excellent written and oral English and Hindi. Knowledge of Odia is a plus.

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 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 full 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.

• Bachelor’s degree in either economics, social or international development, finance, business administration, public policy or related field.
• Minimum 5 years of professional experience in digital finance, social development, banking, micro-finance, telecom or agriculture sector in India.
• Fluent in English and Hindi, both written and oral.

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:

• Minimum 5 years of professional experience in digital finance, social development, banking, micro-finance, telecom or agriculture sector in India. – 30 points
• At least 3 years of professional experience in driving digital financial services and customer adoption. – 20 points
• At least 2 years of experience working on government-supported project and coordinating with government counterparts. – 20 points
• Experience in writing case study, project descriptions, work plans, budgets, research papers or other learning materials. – 10 points
• Previous experience working on projects with focus on gender. – 10 points
• Previous experience working with UNDP or UNCDF or UNDP/UNCDF or other multilateral agency or foundation -funded projects. – 10 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 has 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.

Apply now

Added 3 years ago - Updated 3 years ago - Source: jobs.undp.org