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SCOPE OF WORK
The consultant (or consulting firm) is expected to present a final draft of t&²he National FinTech strategy which should articulate clear regulatory, supervisory and oversight principles for the participation, actions, operations and support of FinTechs in the financial services ecosystem of Nigeria.
The following sets out the scope of work and expected deliverable under this brief:
- Inception Meeting – preliminary consultations with the CBN team and AFI technical team to agree on the scope, expected deliverables, support, reporting and related timelines.
- Develop the National FinTech Strategy Impact Monitoring & Evaluation framework: In consultation with the CBN and AFI, the consultant shall lead and develop the Monitoring and Evaluation (M&E) Plan for the National FinTech Strategy and track progress against set targets and KPIs for Digital Financial Services availability, access, usage and quality in Nigeria.
- Stakeholder Engagement Workshop/Webinar: The consultant shall be the lead resource person for the workshop (held either physically or virtually). The consultant shall lead with the planning, agenda setting, briefing, coordination and hosting of the workshop with the objective to facilitate discussions with broad and relevant stakeholders, solicit suggestions and inputs and identify broad outlines and scope of the strategy.
- FinTech Landscape Diagnosis: Conduct extensive As-Is Assessment of the Nigerian FinTech landscape, research on standards, industry trends, models and best practices in regulatory and supervision frameworks for FinTechs and aligning the best practices from this to fit the context of Nigeria and the expectation of CBN. CBN shall support consultant with necessary industry documentations, introductions and facilitating engagement with key stakeholders and relevant existing regulations, industry data etc.
- Interview Stakeholders: In consultation and support from CBN and AFI, conduct interviews in person if possible or remotely with selected relevant stakeholders in Nigeria and beyond.
- Develop Outline for the National FinTech Strategy: Drawing insights from extensive literature reviews of examples of existing strategies, regulatory frameworks for supervision and oversight across the globe, insights from the diagnosis and literature review, the consultant shall develop the outline of the strategy, highlighting key components, principles and consideration which shall be reviewed and approved by both the CBN and AFI.
- Develop Draft National FinTech Strategy: Based on the approved outline of the strategy, inputs received from stakeholder engagement and insights from diagnosis and research, the consultant shall develop the first draft of the strategy which shall include details, principles, considerations and procedures for the encouraging, growing and supervision of FinTechs. This shall be reviewed with inputs provided by CBN and AFI.
- Comprehensive & Technical Review and Dissemination of Exposure Draft Framework: The consultant shall support and lead the review process with all relevant and identified stakeholders by coordinating and compiling all feedbacks, inputs, comments, and remarks into a matrix for onward evaluation, review and finalization. The review process shall also include a peer review process within the AFI network, coordinated with the support of AFI, the consultant shall coordinate and collate feedbacks received and facilitate onwards evaluation of feedback for finalization.
- Lead and support Roundtable Workshops on Draft Framework: Facilitated by the consultant and with the support of the consultant, conduct 6 regional workshops on the components of the National FinTech Strategy to sensitize and consult with the various stakeholders, regulators, financial service providers and ecosystem players for inputs and contributions into the draft strategy.
- Finalize Deliverable: Based on inputs from the AFI Management Unit, CBN team and select stakeholders, consultant shall finalize the strategy based on endorsement by CBN.
- Develop the FinTech Strategy Revision, Dissemination & Communication Plan: The consultant will develop a launch and dissemination strategy for the National FinTech Strategy and share this with the CBN and AFI for endorsement and approval
- Launch Plan for National FinTech Strategy: Lead and support the launch of the National FinTech Strategy event in person if possible, of virtually.
CONSULTANT EXPERIENCE
- Advanced university degree in social science, international economics, development finance or other related field.
- 7+ years of professional experience in broad financial regulatory and policy interventions, digital financial services and financial technology, financial regulation for DFS and FinTech, and AML-CFT, public policy, financial inclusion and international development.
- Previous experience working in sub-Sahara Africa on issues related to digital financial inclusion, FinTech with policymaking and regulatory institutions is desirable.
- Sophisticated understanding and experience in analyzing the issue of regulatory oversight and supervision around financial inclusion, stability, integrity, and consumer protection through the lens of growing digital technology.
- Experience working directly with central banks on policy development and implementation, preferably in regulatory oversight, supervision, reporting and enforcing policies and mandates.
- Knowledge of potential technological solutions for regulatory and supervisory technology (e.g. FinTech and RegTech applications) and their linkages to deepen financial inclusion.
- Excellent written and presentation skills in the English language. Knowledge and proficiency in any of the Nigerian languages will be an added advantage.
The Interested applicants are expected to submit a proposal with updated CV and using template given by email to AFI’s Procurement & Contracts Office at RFP2104@afi-global.org<mailto:rfp2104@afi-global.org></mailto:rfp2104@afi-global.org>
Deadline: February 3, 2021
NB: Please, refer to KALETA.co as your source while applying for this job
