Consultant of DMFI Feasibility Study at FINCA International

20 April, 2018

 

 

 

 

 

About FINCA Afghanistan

 

The Mission of FINCA Afghanistan is to provide financial services to the lowest-income entrepreneurs, so they can create jobs build assets and improve their standard of living.FINCA International is one of the world's leading micro finance institutions, provides financial services to more than One Million clients through 20 wholly-owned and operated subsidiaries in Africa, Eurasia, Latin America and the Middle East and South Asia (MESA)

FINCA Afghanistan has over 370 employees and among one of the leading Microfinance providers in the country with its Islamic and enterprise friendly products. It is rapidly growing and is currently operating in Kabul, North and West Regions.

 

Job Summary

 

FA has received a grant from World Bank to hire independent individual consultant to conduct feasibility study to assess transformation into Deposit taking Micro Finance Institution (MFI to DMFI). This transformation will enable FA to mobilize deposits from public in future; which will provide savings to the non-banking customers.

The key requirements for FA to transform to DMFI include compliance with the requirements of DAB i.e. having capital as per the stipulated requirements, satisfactory credit process / provisioning norms and a robust MIS.


Duties and Responsibilities

 

The objective of the feasibility study is twofold: compliance perspective and business operations perspective. On the compliance perspective, it will be necessary to;

a) identify the applicable law and regulations, and how they would impact FINCA going forward; 

b) identify gaps for FA to comply with the regulation, and 

c) Provide a roadmap for transformation as DMFI. 

From a business operations perspective, it entails developing a business plan for FA as DMFI, based on economic rationale/ market research.

The proposed detailed feasibility study shall comprise of key elements as follows:

1. SWOT analysis

2. Need analysis 

3. Gap analysis 

4. Area where management team needs to be strengthened 

5. Steps needed to develop a credible business plan projections

6. Areas where the articles of association and Bylaws need amendment

7. Any other areas key area or element that consultant deem fit for FINCA Afghanistan transformation into DMFI.

Consultant is also required to market research the country for commercial interest rate in the country for savings and also suggests some interest rate on savings. 

The main tasks and responsibilities of the consultant shall be as follows

1. Prepare a feasibility study including, but not limited to the following: 

  • Identify the legal and regulatory requirements,, perform a full scope regulatory impact assessment in compliance with the "Article Twelve of Da Afghanistan Bank (Central Bank): Regulation on the Licensing, Regulations, and Supervision of Depository Microfinance Institutions"
  • Identify the gaps between current and targeted structure (i.e. from MFI to DMFI) in terms of:
  • Establish the economic rationale for the transformation process including staff planning/requirements, infrastructure required etc.
  • Prepare a detailed action plan on how to bridge those transformation gaps, including time tables, responsible persons and budgets

This feasibility study, in addition to meeting the above objectives, should ensure that it provides the requisite content and material to satisfy the Regulator's prudential standards so as to approve and grant an upgrade to FINCA Afghanistan (FA). That might also mean that the consultant will prepare two separate documents, one for Management purposes, and another for regulatory purposes.


2. The Consultant to provide guidance to the different levels of FA Management in those areas where knowledge gaps are identified, including Risk Management, Corporate Governance, AML and other areas as agreed with Management and design and write policies and procedures, or upgrade existing ones in FA, in order to address the regulatory gap


3. Take responsibility in preparing the licensing package for Da Afghanistan Bank (Central Bank) submission. With the support from FINCA, the consultant and FINCA shall arrange and facilitate for the necessary meetings with the regulator in order to communicate Management intentions.


4. Regularly report on the above. Adhere to agreed timelines on deliverables.


Key Deliverables

Key deliverables of the consultant shall include:
1. Business plan / proposal for transformation
2. Feasibility study / analysis of environment
3. Detailed action plan (including budgets and responsibilities, staff requirements, infrastructure needed)
4. Periodic (tentatively monthly) progress reports on the assignment 
5. Licensing package (completed with documentation)
6. Training on AML, Risk Management and Corporate Governance for the concerned staff of FINCA


Estimated period of performance


Upon execution of the contract, the assignment should be completed within four months, including, travel days and completion of feasibility report.

Travels to Provinces

 

Require Travels to Provinces

 

Qualifications

 

• Bachelor degree from a reputed university required; Master’s degree in Development Organization will be preferred

• At least five (5) years of development sector experience and has experience conducting such studies of similar nature in other countries.

• Knowledge and/or experience in microfinance and banking sector.

• Strong research and analytical skills.

• Experience in developing feasibility strategy and developing and analyzing policies procedures and comparing it with Central Bank guidelines, legal, policies procedures.

• Strong interpersonal skills.

 

Job Location

 

Afghanistan - Kabul

 

Education:

 

Bachelors Degree, Administrative

 

Submission Guideline

 

All interested and qualified candidates should submit their CV along with application letter and photo attached with CV also please mention the position title and Vacancy number clearly in the subject line of your email (FA-KBL-HQ-162 Consultant of DMFI Feasibility Study ), otherwise your CV will not be considered for mentioned position.

 

Submission Email

 

hr@finca.af

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