I. OVERALL OBJECTIVE

The overall objective of the assignment is to strengthen the capacity of financial institutions, DNFBPs and their relevant supervisory authorities in English-speaking GIABA member states to effectively implement, monitor and supervise AML/CFT preventive measures.

This objective will be pursued through the development and adaptation of practical technical tools, the provision of targeted technical assistance and the design and delivery of tailored training and capacity-building programmes.

The assignment will contribute to improving AML/CFT compliance arrangements, promoting the effective application of the risk-based approach and supporting beneficiary countries in addressing relevant deficiencies identified through national risk assessments, mutual evaluation processes and other relevant assessments.

II. SPECIFIC OBJECTIVES AND SCOPE OF WORK

The expert will implement the activities assigned under the SecFin Africa project in accordance with the needs and priorities identified by beneficiary countries and agreed with the project team and relevant national counterparts.

The assignment will have a cross-sectoral scope, covering financial institutions, DNFBPs and their relevant supervisory authorities. The expert may be mobilised across different sectors and countries depending on the needs of the project, without being restricted to a single sector or type of institution.

The scope of work will include the following activities.

2.1. Assessment of Needs and Identification of Beneficiaries priorities

The expert is expected to:

·       Assess the AML/CFT capacity-building needs of financial institutions, DNFBPs and their relevant supervisory authorities, taking into account their respective responsibilities and operational requirements.

·       Liaise with the FIU and other relevant national stakeholders to identify and prioritise financial institutions, DNFBPs and their supervisory authorities personnel requiring targeted training and technical support.

·       Review the applicable legal, regulatory and institutional frameworks, national and sectoral risk assessments, relevant mutual evaluation findings and other available assessments.

·       Identify key compliance gaps and operational challenges affecting the implementation and supervision of AML/CFT obligations in the relevant sector.

·       Assess existing sector-specific AML/CFT guidance, compliance tools, supervisory procedures and training materials, where available.

·       Develop, in consultation with the SecFin Africa project team and national counterparts, a tailored intervention plan setting out the identified priorities, proposed activities and expected results.

2.2. Development and Adaptation of AML/CFT Tools and Training Materials

The expert is expected to:

·       Develop or adapt AML/CFT guidelines, procedures manuals, KYC forms, risk assessment templates and other practical compliance tools tailored to the relevant sectors.

·       Develop or adapt supervisory tools and training materials addressing sector-specific ML/TF risks and the implementation of AML/CFT requirements.

·       Ensure that all tools and materials are practical, consistent with the Nigerian legal and regulatory framework, and aligned with the FATF Recommendations and the risk-based approach.

·       Incorporate feedback from the SecFin Africa project team and relevant national counterparts into the finalisation of the tools and materials.

2.3. Design and Delivery of Training and Capacity-Building Activities

The expert is expected to:

·       Design and deliver tailored training for insurance sector entities and NAICOM personnel, in consultation with the NFIU and the SecFin Africa project team.

·       Cover key AML/CFT requirements, including risk assessment, customer due diligence, beneficial ownership, internal controls, record-keeping, suspicious transaction reporting and risk-based supervision, as appropriate to the target audience.

·       Use practical, participatory methods, including insurance-specific case studies and exercises, to promote the effective application of AML/CFT obligations and the tools developed.

Deliver training in person or remotely, as agreed with the SecFin Africa project team and relevant national counterparts.

2.4 Monitoring, Evaluation and Reporting

The expert is expected to:

·       Assess training outcomes through participant feedback and appropriate evaluation methods.

·       Prepare training summaries and mission reports documenting activities, participants, results, challenges, lessons learned and recommendations.

·       Identify remaining capacity gaps and propose areas for further technical assistance.

Revise the tools and training materials, where necessary, based on feedback and lessons learned, and provide the SecFin Africa project team with the relevant supporting documentation.

 III. EXPECTED RESULTS

The assignments are expected to contribute to the following results:

·       Improved AML/CFT compliance capacity: Priority Financial institutions and DNFBPs demonstrate a better understanding of their AML/CFT obligations and strengthen their capacity to implement appropriate preventive measures.

·       Enhanced sector-specific technical resources with practical AML/CFT tools, guidelines, procedures and training materials are developed or adapted to address identified needs and risks in the relevant sectors.

·       Strengthened supervisory capacity: Relevant supervisory authorities Team improve their ability to apply a risk-based approach to supervision and assess reporting entities compliance with AML/CFT requirements.

·       Improved risk identification and mitigation: Beneficiary institutions strengthen their capacity to identify, assess, monitor and mitigate ML/TF risks relevant to their activities.

·       Enhanced suspicious transaction reporting: Participants improve their understanding of suspicious transaction identification, internal escalation procedures and applicable reporting obligations.

·       More effective capacity-building interventions: Training and technical assistance activities respond to identified sector-specific deficiencies and contribute to strengthening targeted countries AML/CFT framework and their preparation for the mutual evaluation process.

IV. METHODOLOGY AND DELIVERABLES

4.1. Methodology

The expert will adopt a practical, participatory and risk-based approach, taking into account the characteristics of the financial and non-financial sectors concerned and the legal and institutional context of each beneficiary country.

The methodology will include:

·       Desk reviews of relevant national legislation, regulations, risk assessments, mutual evaluation reports, supervisory documentation and existing technical materials.

·       Consultations with the SecFin Africa project team, the FIU and other relevant national stakeholders and beneficiary institutions.

·       Assessment of capacity-building needs and identification of priority interventions.

·       Joint development or adaptation of sector-specific technical tools, compliance resources and training materials.

·       Delivery of training and capacity-building activities using practical exercises, case studies and other participatory methods.

·       Evaluation of training outcomes and preparation of reports documenting activities, results, challenges and recommendations.

·       Review and finalisation of deliverables based on feedback from the SecFin Africa project team and relevant national counterparts.

The expert will work jointly with other expert throughout the assignments, ensuring a coherent and integrated approach across all stages of implementation. They will coordinate their work, share relevant findings and ensure that the needs assessment informs the development of technical tools, that the training activities promote the practical use of these tools, and that the recommendations reflect the results and lessons learned.

4.2. Deliverables

The Texpert will jointly prepare and submit the following deliverables, as applicable to the activities agreed upon with the SecFin Africa project team:

1. Needs assessment and intervention plan

A concise document presenting the identified capacity-building needs, key compliance and supervisory gaps, priority beneficiaries, proposed activities and expected results.

2. Draft and final technical tools and training materials

A set of draft and final AML/CFT tools and technical resources, as applicable, including guidelines, procedures manuals, KYC forms, risk assessment templates, supervisory tools, training modules, presentations and practical exercises.

3. Training delivery and supporting materials

Implementation of the agreed training activities, together with the corresponding training materials, agendas and other relevant supporting documentation.

4. Training evaluation summary

A summary of participant feedback, assessment results, key lessons learned and recommendations for improving future capacity-building activities. SecFin Africa will provide a training evaluation questionnaire to be administered at the end of each training session.

5. Mission and activity report

A report documenting the activities conducted, institutions and participants reached, results achieved, challenges encountered, lessons learned and recommendations for further action.

All deliverables are expected to be submitted in English and will be subject to review and approval by the SecFin Africa project team. They will be finalised in accordance with the agreed implementation schedule and any feedback provided by the project team and relevant national counterparts.