Description of the goods or services required
Tajikistan: Bank Eskhata Business Development, Risk Management and Finance Management Advisory Support
Single Stage Open Competitive Selection – Request for Proposals
The European Bank for Reconstruction and Development (the “EBRD” or the “Bank”) intends to contract professionals with international expertise to support Bank Eskhata (“BE”)`s top management in gaining competences in line with the best international standards in the areas of business development, risk management and financial management, in order to support the correspondent capacity building in BE, while the operating environment is negatively impacted by COVID-19.
The project envisages provision of experts to serve as senior management advisors (the “Consultant”) to three existing members of the Management Board of BE, namely the Chief Business Officer (“CBO”), Chief Risk Officer (“CRO”) and Chief Finance Officer (“CFO”).
The selected Consultant is expected to provide the following services:
(1) a gap assessment of BE’s business development, risk management and finance management functions and development of relevant KPIs with the emphasis on addressing on-going operational challenges driven by COVID-19;
(2) execution of Action Plans including a detailed timetable for realisation of the recommendations for review and approval by BE’s Supervisory Board.
The project will be designed in two stages:
Stage I: Gap analysis and recommendations: The Consultant will perform comprehensive review of respective responsibilities, processes, procedures and approaches related to business development, risk management and finance management functions, and propose Business Action Plan, Risk Action Plan and Finance Action Plan with concrete recommendations for review and approval by BE’s Supervisory Board. Draft Action Plans are expected to be submitted to the Supervisory Board within two months after the launch of the Assignment. Stage I is deemed to be completed once the Action Plans are approved by the Supervisory Board. Stage 1 is expected to be completed within three months from the beginning of the project.
Stage II: Implementation: The Consultant will work closely and support CRO, CBO and CFO to seamlessly run the respective functions and implement the agreed Action Plans. The Consultant will be responsible for regular knowledge-sharing trainings and round-table sessions with the bank’s top and middle management teams.
The Advisor to Chief Risk Officer (“ACRO”) will be primarily responsible for improvements in oversight and control over all risk management activities, both financial and operational.
The Advisor to Chief Business Officer (“ACBO”) will primarily contribute to identifying business growth opportunities, proposing product and service innovations, and delivering on growth targets.
The Advisor to Chief Finance Officer (“ACFO”) will be primarily responsible for improvements in managing financial risks, including business-related risks, financial impact analysis, and book-keeping, as well as all financial and other management reporting.
The Advisors will be coordinated by a Project Manager provided by the Consultant, who will be responsible for the overall project structure and implementation.
At the initial stage, the engagement will be delivered remotely. The Advisors will be required to be engaged in the field at the bank’s premises, subject to lockdown conditions, with regular participation in the BE’s operational and strategic development activities. All advisory work should be delivered with the focus on staff mentoring and training so that BE’s top and middle management have instilled the practical knowledge and expertise of the Advisors.
The Supervisory Board will review and endorse detailed KPIs proposed by the Consultant for which respective departments will be accountable. Such KPIs shall include financial and qualitative performance targets. Quantitative and qualitative KPIs for ACBO, ACRO and ACFO may be subject to revision by the Supervisory Board due to evolving market conditions and regulatory environment.