Ref.
2023/CFTIOTSCTEFI/9925
Job offer type
Experts
Type of contract
Service contract
Activity sectors
Economic and financial governance
Deadline date
2023/09/24 23:59
Duration of the assignment
Short term
Duration
25 jours
Consultant for the introduction of the social consideration to enhance financial inclusion (M/W)
Département Gouvernance - GOUV > Pôle Mobilisation des Ressources Financières
Published on : 2023/09/05
CONTINENTAL EUROPE
ARMENIA
YEREVAN
Mission description
The overall objective of the activity is to help the Central Bank of Armenia (CBA) achieve its goal of enhancing financial inclusion through social considerations and sustainable finance practices. Namely :
- Conduct a comprehensive analysis of international experiences and best practices in implementing social considerations to enhance financial inclusion.
- Formulate clear policy priorities and concrete actions to improve access to financial services, taking into account international best practice.
- Provide guidance and support on social and environmental risk management to financial institutions, fostering responsible lending and investment practices.
- Encourage socially responsible investing by promoting transparency and disclosure on ESG criteria and creating incentives for investments in socially responsible projects and companies.
- Incorporate Environmental, Social, and Governance (ESG) criteria into regulatory requirements to promote sustainable and socially responsible financial practices.
Project or context description
The Agence Française de Développement (AFD) pursues its support to Armenia’s ongoing efforts to improve its budget process, quality of spending, financial sector efficiency and inclusiveness, development of the green and circular economy in the country, through a Policy Based Loan (PBL), co-financed with the Asian Development Bank (ADB). Particular attention ispaid to the consideration of climate change issues in public management tools.
The PBL relies on a joint ADB-AFD matrix of policy indicators that the «Integrate Climate Change Challenges and Strengthen Public Financial Management & the Financial Sector in Armenia» technical assistance project will help to achieve.
The policy matrix is organized according to 3 themes of actions:
1. Strengthen budget management, public debt, financial risk management policies and practices, and infrastructure investments.
2. Improving the financial market environment (public securities and money markets).
3. Expand the base of financial instruments and investors and strengthen corporate transparency.
This current technical assistance (TA) project is provided along the sub-program 2 of the ADB-AFD PBL with policy actions covering the period from October 2022 to March 2024. This second phase of the PBL follows a first tranche that supported reforms over the period from November 2019 to September 2022.
The technical assistance project will support ongoing reforms that are implemented by (i) the Ministry of Finance (MoF), (ii) the Ministry of Economy (MoE), (iii) the Ministry of Environment (MoEnv), (iv) the Central Bank (CBA).
This technical assistance Program is set up by Expertise France, which oversees the program's technical structuring, organizing, and monitoring, according to the needs expressed by the above-mentioned beneficiaries. For each topic and technical assistance module, Expertise France will select the relevant expert(s). The technical assistance program will be organized along the
following components:
Component 1: Strengthening more inclusive and climate-sensitive budget management.
Component 2: Strengthening the green economy strategy.
Component 3: Integration of climate issues in the Armenian financial system.
Required profile
The Consultant will be an individual or a firm preferably with previous project-related experience as follows:
General and specific professional experience:
The consultant should encompass a range of skills and expertise related to financial inclusion, sustainable finance, and regulatory frameworks. Overall, the consultant should possess a strong blend of technical expertise, policy development skills, stakeholder engagement abilities, and project management capabilities to effectively contribute to the project's objectives and deliver positive outcomes for financial inclusion in Armenia. The consultant should have:
1. Subject Matter Expertise: In-depth knowledge and understanding of financial inclusion, sustainable finance practices, ESG criteria, and regulatory frameworks related to social considerations. They should be well-versed in international best practices in these areas.
2. Research and Analytical Skills: Strong research capabilities to analyze international experiences and best practices in implementing social considerations for financial inclusion. The consultant should be able to gather relevant data, conduct a thorough analysis, and provide actionable insights and recommendations.
3. Policy Development Experience: Experience in formulating policy priorities and actions to enhance access to financial services, with a focus on incorporating social considerations. The consultant should be familiar with policy-making processes and be able to develop practical and effective policy recommendations.
4. Stakeholder Engagement: The ability to engage and collaborate with diverse stakeholders, including government agencies, financial institutions, civil society organizations, and international partners. The consultant should have excellent communication and facilitation skills to ensure active participation and buy-in from stakeholders.
5. Technical Knowledge: Familiarity with financial regulations and risk management practices, including ESG integration, socially responsible investing, and environmental and social risk assessment. The consultant should understand the technical aspects of financial services and be able to provide guidance and support to financial institutions.
6. Project Management Skills: Strong project management capabilities to plan, organize, and execute project activities effectively. The consultant should be able to meet project timelines, manage resources efficiently, and deliver high-quality outputs within the specified timeframe.
7. Awareness of Local Context: Some understanding of the local financial landscape and regulatory framework in Armenia would be beneficial.
Qualifications:
- Postgraduate degree (Master's or Ph.D.) in a relevant field such as finance, economics, sustainable development, or a related discipline.
- Preferably 10 years of previous professional experience in the areas of financial inclusion, sustainable finance, ESG criteria, or regulatory frameworks.
- In-depth knowledge of international best practices and experiences in implementing social considerations to enhance financial inclusion.
- Familiarity with financial regulations, risk management practices, and ESG integration, particularly in the context of promoting financial inclusion.
- Experience in formulating policy priorities and actions to enhance access to financial services, with a focus on incorporating social considerations.
- Familiarity with the local financial landscape and regulatory framework in Armenia would be advantageous.
- Excellent written and oral communication skills, including the ability to convey complex concepts and recommendations clearly and effectively.
- Fluency in English.
Selection criteria for applications
The selection process for candidates will be based on the following criteria :
- Candidate’s training/skills/experience
Deadline for application : 2023/09/24 23:59
Expertise France is the public agency of French international technical cooperation. The agency operates around four priorities:
- democratic, economic and financial governance;
- security and stability of countries in crisis/post-crisis situations;
- sustainable development;
- strengthening health systems, social protection and employment.
In these areas, Expertise France carries out engineering and implementation missions for capacity building projects, mobilizes technical expertise and acts as an aggregator of projects involving public expertise and private know-how.
With an activity volume of 233 million euros, more than 400 projects in portfolio in 80 countries, and 63,000 days of expertise, Expertise France focuses its action towards France’s solidarity policy, influence and economic diplomacy.