Consultancy To Facilitate Development And Implementation Of A
Supervisory Policy Framework
REPUBLIC OF KENYA THE NATIONAL TREASURY
FINANCIAL SECTOR SUPPORT PROJECT
CONSULTANCY TO FACILITATE DEVELOPMENT AND IMPLEMENTATION OF ASUPERVISORY POLICY FRAMEWORK
REQUEST FOR EXPRESSIONS OFINTEREST
Credit No: 5627 KE
Project ID No: P151816
1. The Government of Kenya (GoK) has receivedfinancing from the World Bank towards the cost of the Financial Sector Support Project (FSSP) whose overall development objectiveis to strengthen thelegal, regulatory and institutional environment for improved financial stability, access to and provision of, affordable and longterm financing. It isintended that part of the proceeds of this credit be applied to eligible payments underthe contracts for the Development and Implementation of a Supervisory Policy Frameworkto be implemented over a period of fifteen (15) months.
2. Objective of theAssignment
The objectives of thisassignment are four-fold as summarized below:
a. In reviewing and documenting the current supervisory policy framework, SASRAaims to enhance transparency of the Authority's supervisory approach and intended outcomes andunderstanding of risk management approach as envisioned inthe legal and regulatory framework.
b. Inrevising the risk based supervision manual, SASRA aims to adopt a forward-lookingprinciple based approach to supervision of the Deposit Taking Sacco's (DTS).
c. In realigning its supervision structure, SASRA aims to ensure thatit has the right resources in terms of skills, competencies, structure and numbers to effectively implement the supervisionframework.
d. In developing the specifications for a supervision application, SASRA aimsto identify the most appropriate application for automating the supervision processes,offsite andonsite to the greatest extent possible
3. Scope of the Work
The scope of work of theassignment will cover, but is not limited to, the tasks described below:
a) Conduct a review of supervisory policies from comparable jurisdictions
b) Conduct a review of the current supervisory policy framework employed by SASRA
c) Develop a Supervisory Policy Framework describing the principles, concepts and core processes that theAuthority should use to guide supervision of the DTSs
d) Conduct a workshop to sensitize select DTSs and other relevant stakeholders on the draft proposed supervisorypolicy framework
e) Revise the current Risk Based Supervision (RBS) manual and practices in line with the supervisory policy andincorporate emerging regulatory issues
f) Support supervision department in adopting the new supervisory policy framework in itssupervisory work
g) Advise the Authority onthe amendments, if any, to the SaccoSocieties Act and/or Regulationsnecessary for the implementation of Supervisory policy framework
h) Develop the specifications for a supervision application to informdevelopment and/or acquisition of asupervision system
i) Conduct a review of supervision processes and applications of comparable institutionsincluding Central Bank of Kenya to inform the automation of SASRA's supervision processes and recommend resources required toenhance system's resilience against ICT-related operational/ cyber risks
j) Identify key technology requirements and recommend on organizational capacity and structurefor theimplementation of the developed Supervisory policy framework i.e. Risk surveillance software system.
4. The National Treasury (the Client) through its Project Implementation Unit (PIU) nowinvites eligible individual consultants to express theirinterest in providing the services. Interested Consultantsshould provide information demonstrating that they have the required qualifications and relevant experienceto perform the services. Consultants shouldprovide their most recent profiles showing their experience, qualifications, capabilities, references and details of pastexperience especially in the area of their expertise etc. The shortlisting criteria are; (a) Undergraduate qualification in accounting, economics, banking and finance (b) At least 10 (ten) years in a financialsector regulator, multilateral agency involved in financial sectorreform, financial conglomerate, audit firm or in an academic institution engaged in financial sector research. Experience withcredit union prudential regulation will be an added advantage; (c) At least five (5) years of experience in developingand implementing Supervisory Policy Framework for a bank, microfinance or Sacco/credit union regulatory agencies;(d) Strongfamiliarity with current developments in regulatory, risk management supervision and supervisory policy framework formulationespecially with respect to Saccos or Credit unions, microfinance and commercial banks; (e) Experience in training in riskassessment in supervisory authorities and financial institutions; (f) Experience in emerging market jurisdictions that have implemented SupervisoryPolicy Frameworkin a financial sector regulatory regime; and (g) Fluency in written and spoken English.
5. The expression ofinterest is also open to interested firms who may wish to propose individual consultants. In such cases, only the experience andqualifications of the individuals proposed shall be taken into account in the selection process and not the firm's corporateexperience. Consequently, the ensuing contract agreement will be signed directly with the successfulindividual.
6. The attention of interested Consultants is drawn toparagraph 1.9 of the World Bank's Guidelines: Selection and Employment of Consultants[under IBRD Loans and IDA Credits & Grants] by World Bank Borrowers published in January 2011 and revised inJuly 2014("Consultant Guidelines"), setting forththe World Bank'spolicy on conflict of interest.
7. Interestedeligible individuals may obtain further information at the address given belowduring office hours between 0900 to 1700hours, Monday ? Friday inclusive, exclusiveof public holidays, before the deadline for the submissionof Expressions of Interest.
8. AConsultant will be selected in accordance with Selection of IndividualConsultant method set out in the Consultants Guidelines.
9. Complete Expressions of Interest documents to be submitted in plain sealed envelopes with consultancy reference and name clearly marked on top should be delivered in person, sent by mail orby email to the address shown below or placed in the tender box at our offices on the 7th floor, Anniversary Towers,North Tower
Attention: Procurement Specialist
P.O Box 21190 ?00100
7th Floor, Anniversary Towers, North Tower.
BuildingNo.19 Monrovia Street/University Way
Telephone No: +254-20-2210271/4
E-mail: email@example.com; firstname.lastname@example.org
10. Deadline for submission of Expressions of Interest is Tuesday9th August 2016 at 1600 hours Kenyan local time.
FOR: PRINCIPAL SECRETARY