REQUEST FOR EXPRESSION OF INTEREST

Mongolia has received a credit from the International Development Association (IDA) for implementation of the Strengthening Fiscal and Financial Stability (SFFS) project. The Financial Regulatory Commission (FRC) is a beneficiary of the Project and is implementing activities under sub-component #C4. The main objective of the Sub-component is strengthening the institutional capacity of the FRC.
The FRC was established on 25 January, 2006; as a supervisory authority under the Law on the Legal Status of the FRC (approved by the Parliament of Mongolia in 2005). The FRC is a parliamentary authority for the regulation and control of different segments of the financial system, including: the insurance market, the securities market, non-bank financial institutions, and savings and credit cooperatives.
The non-bank financial market in Mongolia has been developing since the country shifted from a centrally planned economy to a market economy. Associated financial entities have also been developing rapidly as the national economy expands. While the annual growth in the number of financial entities was 3-4% in the years before 2013, it rose to 13-19% in last four years. Currently, the FRC supervises approximately 2,120 financial institutions and professional participants in the four, above-mentioned sectors; and the number is likely to increase in the future as the Mongolian financial market expands.
Currently, the FRC is operating with 144 staff - in seven departments, four divisions and two units - according to the revised organizational structure of 2016. Also, there are 63 local representatives distributed throughout the 21 provinces of the Country and the nine districts of Ulaanbaatar (operating under regulation of the FRC). Given the FRC’s new structure - and the associated staff changes - many people are taking on new roles and responsibilities. In addition, due to the rapid changing financial markets, and the increasing number of new products and services, it has become necessary to conduct a situation analysis on the current capacity of staff, and to identify the associated training needs of the organization.
More particularly, in 2017, the Government of Mongolia approved the ‘National Strategy on Improving the Financial Market to 2025’ which requires the FRC to (among other things) develop and implement a comprehensive risk-based supervisory system, and to urgently improve human resources capacity. Furthermore, despite implementation of ‘The Mid-term Training Curriculum’ - during 2015 to 2017 - capacity-building needs assessment (using a formal methodology) has not yet been conducted. However, Monetary and Capital Markets (MCM) Department mission of the International Monetary Fund (IMF) assessed the technical assistance needs of the FRC in December 2017. The Diagnostic mission on non-bank regulation and supervision recommended that ‘FRC needs to increase its staff strength, enhance the knowledge of supervisors’. Accordingly, and in order to identify necessary job tasks/standards, as well as the skills, knowledge and abilities needed to accomplish functions successfully, the FRC is seeking to hire professional, legal expertise in the assessment of the current capacity, and identification of related training needs.

OBJECTIVE OF THE ASSIGNMENT

The overall objective of the assignment is to identify capacity gaps and training needs for staff of the FRC. Based on the needs assessment results, a training curriculum to cover three years (2019-2021) will be drafted by the Consultant.  The assignment should focus on existing staff capacity with a view to identifying training needs for the staff to perform the expected functions and roles of the FRC effectively; with recommendations on capacity strengthening to be provided.

SCOPE OF THE WORK

The tasks of the Consultant include, but are not limited to, the following:
1. Prepare a contract implementation plan within three working days of the start of the contract;
2. Conduct a capacity assessment, and provide an overview and analysis of the capacity strengths and weaknesses of staff (identifying the main  gaps and demands) using a formal methodology;
3. Conduct a task analysis - to identify and specify the main duties and skills levels required - to develop and implement a comprehensive risk-based supervisory system;
4. Review existing training programmes including international development agencies’ and local trainings and courses available to all staff;
5. Recommend the most suitable, effective, efficient and affordable mode/s of capacity development, to meet the identified needs of all levels of staff;
6. Develop a proposal for a training curriculum to cover three years (2019-2021) - including training objectives, training topics and duration, modes of training, target groups, and funding - and discuss with the FRC for feedback and approval;
7. Reflect comments and recommendations of the FRC, and finalize the training curriculum.
8. Perform other tasks as reasonably requested by the FRC.

CONSULTANT’S QUALIFICATIONS AND/OR SELECTION CRITERIA

1. Education: The Consultant should have a master’s degree (or above) in a relevant field: education, adult education, development studies, public administration, human resource, or policy analysis. A background in finance or economics will be an asset.
2. Experience: The Consultant should have at least 10 years’ experience in organisational/ functional reviews and training needs assessment; as well as in planning, organising, managing and scheduling training programmes and modules. Demonstrated experience in assessing training needs and developing training programmes and experience of working with similar organization with the FRC is preferred. Proven record in training needs assessment, capacity development assessment, and capacity is required.   
3. Language Skills: The Consultant shall be fluent in written and spoken English.
4. Other Skills:
   a. Excellent interpersonal skills with the ability to function effectively and collaboratively in a team environment;
   b. The Consultant shall exhibit the highest standards of professional behaviour and personal integrity. The ability to work unsupervised is essential.

CONTRACT DURATION

The Consultant’s work is expected to commence in March, 2019. The duration of the assignment will be 20 working days. The consultant will be selected in accordance with the World Bank’s Procurement Regulations for IPF Borrowers (July 2016).

If you possess the above qualifications, please submit following documents:
    1. Cover letter indicating why she/he considers her/himself suitable for the position,
    2. Detailed CV highlighting relevant skills/experience,
    3. Copy of diplomas or certificates and,
    4. 2 reference letters from previous last two employers no later than 17:00, February 27, 2019.

The submitted documents will not be returned to the applicants. Please be noted that incomplete applications would not be considered for evaluation. Only selected candidates will be contacted. Candidates can be interviewed. Detailed terms of reference can be requested from procurement@sffs.mn Contact address: Attn: Ms.Bayarmaa, Procurement Specialist, Strengthening Fiscal and Financial Stability Project
Room #204, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia; Tel: 70120582

70120582