Credit Analyst – Gargaara Company Limited (Individual Consultant)

1.  Background: Gargaara Company Limited (“Gargaara”) was incorporated in April 2019 an apex development finance institution (DFI) by the Federal Government of Somalia (FGS). Gargaara is the project implementing entity for the Micro, Small, and Medium Enterprises (MSMEs) Financing Facility under the World Bank’s Somalia Capacity Advancement, Livelihoods and Entrepreneurship, through

Digital Uplift Project (SCALED-UP). In March 2019, the World Bank Board approved US$31 million SCALED-UP project funding and it became effective in August 2019.It seeks to increase access to basic digital financial and government services targeting entrepreneurship and employment, particularly for women. The US$15 million Financing Facility for Micro, Small and Medium Enterprises (MSMEs) that Gargaara is managing is a component of SCALED-UP. Gargaara intends to apply part of the proceeds of the above project to finance the position of the Credit Analyst (Individual Consultant).

2 Responsibilities: The post holder will report to the Chief Executive Officer and work in close liaison with other Gargaara Management Team. The post holder will analyze and assess the credit risk of outstanding portfolios and MSME loans at the time of allocation and disbursement requests and provide recommendations to Gargaara CEO regarding these requests; Present analysis, findings, and

recommendations to Gargaara CFO, especially findings that involve a borrower’s ability to repay, and

recommend ways and means to mitigate or cover risks (e.g., change requests for amortization schedule);

enhance Gargaara’s credit risk capability by developing analytical tools (e.g., spreadsheets and models) to

support the assessment of new and existing credit applications; Contribute, as part of the assessment team under the leadership of the financial institution’s analyst, to the due diligence of PFIs (initial assessments, as well as yearly re-assessments). All other specific tasks detailed in the Terms of Reference (TOR) for the

assignment that can be found at the following website: https://mof.gov.so/publications/terms-reference-tor-credit-analyst

3.  Duration: The proposed duration for the assignment is Twelve Months (12) calendar months from starts date.

4.  Selection Criteria: The selection shall be based on qualification, experience and skills of the candidate and followed by an interview. The qualifications, experience and competencies include:

•       Bachelor’s degree in finance, accounting, or other business-related fields is required.

•       Five years of credit analysis experience is required.

•       Strong knowledge of portfolio and loan risk assessment, including understanding of financial statements, ratios, and concepts applied to credit risks analysis.

•       Demonstrate proficiency in Islamic financing modes and their differences with conventional financing ones.

•       Understanding of the challenges in the financial sector of fragile and conflict affected situations1 or East Africa.

•       Experience of credit/loan management of SME loans and loans to productive sectors an asset.

•       Documented proficiency in MS Office and statistical/quantitative analysis tools.

•       Ability to effectively manage competing deadlines for projects in a high-pressure work environment, with varying degrees of supervision.

•       Strong attention to detail and numerical literacy.

•       Fluency in English and Somali.

5.  The Ministry of Ministry of Finance now invites eligible consulting (“Consultants”) to indicate their interest in providing the above-mentioned Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services and furnish the Curriculum Vitae (CV).

6.  Attention of interested Consultants is drawn to section III, para 3.14,3.16 & 3.17 of the World

Bank’s Procurement Regulations for IPF Borrowers: Procurement in Investment Projects Financing Goods, Works, Non -Consulting and Consulting Services dated in September 2023 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

7.  A Consultant will be selected in accordance with the Individual Consultant method set out in the World Bank Procurement Regulations.

7.  Interested Consultant may obtain further information (in person or by e-mail) at the address below during office hours from 8.00 a.m.– 4.00 p.m. Saturday to Thursday except on public holidays.

8.  Deadline for submission: Expressions of interest should be delivered in a written form to the address below (in person, or by e-mail) by 2nd March 2024 4:00PM local Time.

Attention

Project Coordinator, SCALED-UP Project,

Ministry of Finance, Federal Government of Somalia, Shangani District, Mogadishu, Somalia

Email Address: [email protected]

Cc: [email protected]