Banking and Credit Technical Specialist

TERMS OF REFERENCE

Field Support Services Project: Recruitment of a Banking and Credit Technical Specialist

1. INTRODUCTION

Vietnam has achieved remarkable sustained economic growth and poverty reduction through reforms which laid the foundations for a market economy. As the country approaches lower middle-income status, maintaining this growth and level of equitable social development requires complex and substantive structural reforms technically and institutionally.  Modernizing legal and judicial institutions, improving lawmaking practices, developing appropriate financial sector supervision, creating appropriate standards and practices in the areas of agriculture and agri-food, and the strengthening of capacities and practices at the sub-national level will all help improve the business climate for continued growth and development. 

Global Affairs Canada’s (GAC) international assistance program for Vietnam is aligned with Vietnam’s current Socio-Economic Development Plan.  Canada’s program focuses on, among other areas, the promotion of inclusive and sustainable economic growth which aims to: i) increase the effectiveness and accountability of public institutions at national and provincial levels for sustainable, market-driven economic growth; and ii) to promote equitable and sustainable economic growth with a focus on vulnerable groups at the sub-national level.  As such, Canada is also helping to promote banking, legislative and public sector reforms, private sector development and entrepreneurship, small and medium-sized enterprise development, and improved access to banking and credit services and related skills for employment.  Gender equality, particularly with respect to women’s economic empowerment, is a strong cross-cutting theme for the GAC Vietnam Program.

The Government of Vietnam (GoV) has also adopted several strategies, policies, action plans and measures in the past years to implement the Sustainable Development Goals (SDGs)^[1] and meet the targets for socio-economic development including improving income and living standard in rural area^[2], creating equal opportunities for the people in accessing resources for development^[3]and benefiting from fundamental services^[4]as top priorities.  Significantly, in January 2020, the GoV adopted the “National Strategy for Financial Inclusion until 2025, with a vision until 2030” to fight poverty and social inequalities. This strategy aims to guarantee individuals and businesses, low-income and vulnerable people, SMEs and micro-enterprises, better access to basic financial products and services, such as payment, money transfers, savings, credit and insurance conveniently and at affordable prices. This strategy highlights the essential role of rural credit institutions in improving access to financial services for the rural population to fight poverty and social inequalities.

2. OBJECTIVES OF THE ASSIGNMENT

The Field Support Services Project (FSSP) is a GAC-funded bilateral development project.  Its purpose is to provide administrative, technical, logistical and financial management support to Canada’s international development assistance program in Vietnam in order to maximize the development results and impact of the program. The FSSP will contract the services of a Banking and Credit Technical Specialiston a part-time, as-required basis in response to GAC need for technical assistance in the area of banking and credit services for both program planning and for project implementation and monitoring purposes.  

The Banking and Credit Technical Specialist is expected to assist GAC in the integration of considerations of financial inclusion into project planning, implementation, monitoring, reporting and policy dialogue, as well as to help to enhance the technical and institutional capacity of national partners as appropriate.  The successful candidate will possess an extensive network of contacts with organizations and individuals to draw upon in the delivery of the professional and advisory services she/he provides. The Banking and Credit Technical Specialist will provide these services on a demand-responsive basis and will participate in briefings and/or missions as required.  He/she may be requested to attend events and provide reporting to GAC, or serve as a resource person in meetings with key project or program stakeholders.  

3. SCOPE OF SERVICES

The role of the Banking and Credit Technical Specialistis to provide technical services to GAC clients or other designated beneficiaries identified by GAC (e.g. local implementing partners). The Banking and Credit Technical Specialist will report to and works under the supervision of the FSSP Director in delivery of technical and advisory services to GAC.  He/she will also work in close collaboration, as required, with other FSSP technical specialists, especially in the area of gender.

The services to be provided by the Banking and Credit Technical Specialist may include, but are not limited to the following:

3.1         Program-level Analysis and Support:

• Participate in the preparation and/or assessment of GAC policy documents, corporate strategies, country programming frameworks, country strategies, sector strategies and institutional strategies, to ensure the they are informed by context-sensitive banking and credit sector considerations as appropriate;
• Undertake banking and credit and/or economic sector-specific research and analysis and provide advice on specific topics requested by GAC such as, for example, best practices, lessons learned, emerging trends, notable innovative practices, and potential innovative partnerships;
• Provide sectoral analyses and comments on documents produced by development partners, other stakeholders, as well as Vietnamese government or non-government institutions including sector and institutional strategies and policy, legislative, regulatory and program frameworks;
• Prepare oral or written reports, briefing notes and talking points on specific issues related to GAC policies, programming, strategies and frameworks as they relate to financial inclusion;
• Participate in and/or support preparations, in terms of briefing materials and local stakeholder engagement, for visits of GAC HQ or other Government of Canada officials;
• Participate in or otherwise contribute to and support GAC Vietnam corporate program planning and evaluation processes as requested;
• Proactively monitor and provide timely analysis and recommendations concerning GoV banking and credit policy, legislation and growth with equity;
• Proactively nurture and maintain networks and contacts with key state and non-state actors in the banking and credit services sector, including any thematic working groups, of both general and strategic relevance to the GAC program;
• Organize or support the organization of meetings or events of relevance to banking and credit services and/or other economic development dimensions of GAC’s international assistance program in Vietnam;

3.2         Project-level Support:

1. Participate as requested in field visits/monitoring exercises including liaising with implementing partners, external monitors and GAC HQ and Embassy personnel as required; Reports (written and/or oral) on meetings/events attended including field trip reports
2. Review project Annual Work Plans and Annual Reports as requested and provide analysis of project implementation progress, performance measurement and management, and recommendations for management decision-making;
3. Contribute to the preparation of project logic models and narratives, , performance management frameworks and narratives, monitoring plans, risk registers, management plans and terms of reference, in accordance with GAC’s results-based management methodology, terminology and tools;
4. Proactively identify opportunities for creating horizontal linkages between GAC projects/programs to facilitate synergies, complementary, information and knowledge sharing and optimal levels of overall results achievement;
5. Where requested by GAC, prepare and deliver or contribute to the preparation and delivery of specific training or information, knowledge and skills sharing exercises for the benefit of one or more groups of GAC project implementing partners; provision of other technical advice as requested or required.

4. THE ASSIGNMENT

The initial contract period for this assignment will be for approximately 6 months with the possibility of an extension.  This is a consultancy assignment whose clients is GAC, more specifically the Development Section of the Embassy of Canada.  The anticipated start date for this assignment is mid to late May, 2022

Banking and Credit Technical Specialist tasks and assignments will be identified by GAC as far in advance as is practicable and possible.  However, a significant portion of the workload may be requisitioned on short notice and will require timely responses. The notional estimated monthly level of effort is 5 days per month.  Actual GAC demand for services will be variable from month to month. As this assignment involves close and timely collaboration with officers of the Embassy of Canada in Hanoi, the Banking and Credit Technical Specialistshould ideally be based in Hanoi).  The successful candidate should be able to travel within Vietnam as required with (travel expenses covered by FSSP. Otherwise, virtual and work from home scenarios may be considered.

The Banking and Credit Technical Specialist will have access to, but is not obliged to utilize,  the Vietnam FSSP office space and facilities, including a computer and printer and other administrative support, at the FSSP Office located on the 3^rd Floor, Toserco Building, 273 Kim Ma Street, Ba Dinh District, Hanoi.

5. QUALIFICATIONS

5.1        Education:  Bachelor or Master’s degree in Banking, Finance, Accounting, Economics, Commerce,  international development or some other relevant discipline. Professional qualifications such as member of CFA (Chartered Financial Analyst) or ACCA (Association of Chartered Certified Accountants) will be considered as a significant asset.

5.2         Languages: Full fluency written and spoken English is required. Knowledge of written and spoken Vietnamese is an asset.

5.3       Experience: 

Mandatory Experience

1. A minimum of 5 years’ experience as a banking and credit specialist;
2. A minimum of 2 years’ experience working in developing countries on assignments involving women’s financial inclusion and /or economic empowerment.

Relevant Experience and Knowledge

• Experience in the implementation of international assistance projects and knowledge of results-based management tools and frameworks in order to optimize the achievement of results. Experience working on GAC-funded initiatives is an asset;
• Strong knowledge of the positive impact of financial inclusion on the economic empowerment of vulnerable groups, particularly women and ethnic minority groups, as well as the common barriers for these groups to access financial products and services, especially those operating in the agricultural sector and/or in rural areas;  
• Good understanding of the Vietnamese banking environment and its financial products and services to individuals and small businesses, including knowledge of the credit landscape, innovative forms of financing and financial products, as well banking policy and legislation;  
• Good understanding of the mission, values and governance structure of an integrated cooperative model-based entity (i.e. cooperatives integrated under an apex), most specifically in the context of cooperative credit institutions. Knowledge of the People’s Credit Funds and Co-opBank system is an asset;
• Experience working with women-led business associations, Coops or other.
• General understanding of the nature and links between the main transactional and digital platforms used by financial institutions and other stakeholders from the Vietnamese banking system is an asset.

How to Apply and Selection Criteria

How to Apply

To apply for this position interested individuals are invited to submit a Letter of Motivation (LoM) and their CV.  The LoM (max 1 page, 12-point font) should express clearly the applicant’s appreciation of the assignment and why they believe they are the most suitable candidate for the position. CVs (max 4 pages, 12-point font) should clearly set out the candidates’ relevant experience as it relates specifically to the competency areas described in Section 3, above, and the experience required as set out in Section 7.3 of this TORs.  Candidates must submit their application consisting of their LoM and CV by email before the deadline for applications noted below. 

Please send your application (LoM and CV) by email to: [email protected]. Please quote “FSSP Banking and Credit Specialist ” in the subject of the email. Applications must be submitted in English.

The last date to submit applications: Wednesday  May 4, 2022, by 17:00 p.m.  Applications received after this date and time will not be considered.

We thank all applicants for their interest but only shortlisted applicants will be contacted for the interview.

The Vietnam Field Support Services Project (FSSP) is implemented by, World University Service of Canada (WUSC), with funding support from the Government of Canada through Global Affairs Canada (GAC).