National Recovery Program Bureau
TERMS OF REFERENCE
For
Individual Consultant (12 months) – Part time (Time-Based)
Senior Financial Advisor – Enterprise Support Project
Background
Following the devastation caused by hurricanes Irma and Maria in September 2017, the Government of Sint Maarten embarked on a large-scale recovery and reconstruction program, based on the principle of building back better.
Since January 2018, the World Bank is assisting the Government of Sint Maarten. A significant part of Sint Maarten’s ongoing recovery and reconstruction program is financed through a Trust Fund, financed by the Netherlands, managed by the World Bank, and implemented by Sint Maarten.
To support the implementation of the Trust Fund, the Government of Sint Maarten established the National Recovery Program Bureau (NRPB), which serves as the Project Implementation Unit (PIU) for the Government of Sint Maarten.
About the Enterprise Support Project
The Enterprise Support Project (ESP) supports micro-, small-, and medium-sized enterprises (hereafter, “MSMEs”) in their recovery through direct financial assistance contributing to the restoration of economic activity. To date, more than 180 business have received financial support through the project.
The project has two components:
- Direct financial support to small businesses for investment and working capital.
- Training, project implementation, audit and monitoring and evaluation.
More information about ESP can be found here: www.nrpbsxm.org/esp
Role of the Senior Financial Advisor
We are searching for a Senior Financial Advisor who can support the ESP by providing advice on applications from MSMEs. The Consultant will review applications which entail a higher risk, such as applications requesting more than US $100,000 in financing and applications with complex financial/business structures. This review will include financial analysis, including cashflow analysis and credit analysis. This Consultant will support the ESP in reducing potential financial or reputational risks to the project. The financing packages being offered under the ESP contain a credit risk sharing arrangement between NRPB and the Partnering Financial Institutions (PFIs). The Consultant will assist the ESP in setting up a criterion for the risk sharing arrangement under the Asset and Repair package and assist with any outreach activities with PFIs on the usage of such a scheme.
The Consultant will be responsible for the following areas of the project:
- Support the credit analysis of applications from MSMEs done by the NRPB team, propose mitigating measures, and advice whether to accept or refuse.
- Assist and advise on frameworks that support MSME lending.
- Support the ESP team in capacity building
Key Duties and Responsibilities
- Support the analysis of MSMEs applications
- Support Operations Officers with additional analysis of business plans and business case feasibility against project criteria for higher risk applications
- Review and provide advice on applications of more than US$100,000 and other selected applications
- Propose and advise on mitigating measures to reduce identified financial risks where applicable
- Assist and advise on frameworks that support MSME lending
- Assist with developing an initial framework for partial guarantee/risk sharing arrangements
- Assist with lender outreach activities to demonstrate the value of a guarantee scheme/risk sharing arrangement as a substitute for cash collateral
- Support the Enterprise Support Project team in capacity building
- Provide training or workshops to enhance the skills of the ESP team in the area of MSME applications review
Contractual Arrangements - Duration of the Assignment and Performance
The start date of the contract will be in June 2023 or soon thereafter. The contract duration will be 12 months. The successful candidate is expected to work 4-6 days per month. The NRPB agrees to allow for a remote based role, combined with regular missions to ensure proper coverage of the duties as required. There will be 3 missions to Sint Maarten required under the duration of the contract. The first mission will be at the start of the contract and will consist of on-site learning, the second mission will be required for World Bank missions/review of the project, and the third mission will be for capacity building. There is no minimum number of guaranteed days of work. Travel and hotel expenses will be reimbursed separately based on travel policies used by the NRPB.
Expected Deliverables
The Consultant is expected to perform the above-mentioned tasks on an ongoing basis during the term of his/her assignment to the satisfaction of the NRPB. The performance of the Consultant will be appraised by the ESP Project Manager, based on the timely delivery of agreed upon deliverables within the contract. The deliverables, reporting to the ESP Project Manager, will include the following reports/project documents:
- Review select applications and support the decision process for the approval or rejection of the application with advice
- Technical assistance to contributing towards institutional strengthening of the MSME sector through supporting the ESP and its stakeholders
- Workshops or training for capacity building of the ESP team, particularly for review of MSME applications
Qualification Requirements
Minimum Requirements
- At least a bachelor’s degree in finance, economics, economic development, or related degree. A master’s degree is beneficial
- At least 15 years of MSME lending experience, including as a loan officer and a manager.
- At least 10 years’ experience managing a lending operation
- Demonstrated skills in developing and mentoring people
- Demonstrated skills in results-based project planning
Preferred Experience
- Previous experience in working with MSME loan borrowers
- Current with the Environmental and Social standards of the World Bank
- Previous experience with teaching credit analysis and other MSME lending skills
- Previous experience with developing multi-actor governance frameworks, specifically frameworks tailored to strengthening the MSME Sectors (i.e., guarantee programs)
- Previous experience working in the Caribbean would be an advantage
General Competencies
- Strong time management and organizational skills with attention to detail
- Ability to manage priorities and workflow with strong multi-tasking and problem-solving skills
- Strong analytical skills: ability to analyze and enhance best practices, processes, and procedures to improve efficiency and effectiveness of program-wide operations
- Strong communication skills, both verbally and written to engage with potential partners and represent the NRPB
- Ability to work with, lead, and coordinate other culturally diverse professionals – strong people management skills
- The candidate must be computer literate, with high proficiency in Computer software operations (Microsoft Word, Excel, PowerPoint, and database management etc.)
Strategic Competencies – Brief Description
NRPB as an organization is committed not only to what we must achieve but also about how we are going to reach our objectives. Therefore, for this position we are looking for a profile that displays the following competencies:
Professional Acumen - Advanced Level
- Strong project management, time management, and organizational skills with attention to detail.
- Ability to manage priorities and workflow with strong multi-tasking and problem-solving skills.
- Strong analytical skills: ability to analyze and enhance best practices, processes, and procedures to improve efficiency and effectiveness of project-wide operations.
- Strong risk management skills
- Strong budget management skills
Looking at the bigger picture – Strategic outlook – Advanced Level
- Strategic thinking and strategic agility
- Creates strategic alignments between cross-functional teams: Finance, Safeguards, Procurement, Legal, Human Resources
- Thinks critically and systematically about external trends and what they could mean for the project
Leading myself and others – Expert Level
- Acts as a positive role model contributing to the team spirit
- Collaborates and supports the development of others
- Calms self and others during stressful situations
- Acts as positive leadership role model, motivates, directs, and inspires others to succeed, utilizing appropriate leadership styles
Respect for diversity - Advanced Level
- Treats all individuals with respect
- Responds sensitively to differences and encourages others to do the same
- Understands subtle and complex diversity and inclusion issues as they relate specifically to marginalized groups
- Knows and applies best practices in diversity and inclusion, strategies, systems, policies, etc.
Successful Communication – Advanced Level
- Very strong verbal and written communication skills
- Strong presentation skills
- Communication indicates consideration for the feelings and needs of others
- Actively listens and proactively shares knowledge.
- Handles conflict effectively, by overcoming differences of opinion and finding common ground.
Relationship Building. Consultation and Collaboration – Advanced Level
- Demonstrates understanding of the impact of own role on all stakeholders and always puts the end beneficiary first.
- Builds and maintains strong external relationships and is a competent partner for others
- Strong negotiation skills
- Strong leadership skills
- Strong coaching skills
Courage and Integrity – Advanced level
- Strong personal, professional, and behavioral integrity
- Upholds organizational and ethical norms.
- Maintains high standards of trustworthiness
- Displays personal and professional courage
How to Apply
Interested consultants can send their CV in English by e-mail ONLY to jobopportunity@nrpbsxm.org.
In the subject line, please state, “Senior Financial Advisor - ESP”. The CV should clearly present relevant experience to meet minimum requirements, preferred experience, and general competences as outlined in this terms of reference.
Applicants should ensure that their CV is received before Wednesday, May 31, 2023, at 17h00 AST. The NRPB reserves the right to accept or refuse any CV coming after this deadline.
Before you proceed to apply, please consider the following requirements:
- Upon selection for an interview, applicants will be requested to produce evidence of the educational and professional qualifications pertaining to the minimum requirements. References may be asked for.
- Applicants may also be subject to satisfactory background checks.