Financial Institutions 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 Financial Institutions Analyst (Individual Consultant).

2 Responsibilities: The post holder will report to the Chief Executive Officer and work in close liaison with the Chief Finance Officer and other Gargaara officers. The post holder will provide analytical support to the Management Team on a diverse range of financial and non-financial issues of relevance to Gargaara’s funding program for MSMEs. The primary role of the post holder will be to support financial analytics relating to the Participating Financial Institutions and their participation in the Gargaara program. In this context the post holder will also provide support to Gargaara management and team relating to execution of the ambitious strategy for Gargaara’s vision, mission, and program. 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/financial-institutions-analyst-terms-reference-tor

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

1. 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:

• University Degree in Banking, Finance, Economics, Business Administration, or equivalent professional qualifications in CFA, ACCA, CPA, CMA, etc.
• At least 5 years of experience in the financial sector (especially in analyzing financial institutions), preferably in Somalia
• Entrepreneurial spirit with strong analytical and data interpretation and presentation skills, experience in financial services, investments, or relevant business sector, especially in the MSMEs financing market.
• Proven ability to work under pressure and ability to embrace and manage change.
• Familiarity with economy and political context like Somalia will be an advantage.
• Self-starter with excellent interpersonal communication and problem-solving skills.
• Excellent written and verbal skills in English. Somali language skills will be an advantage.
• Ability to work effectively in an environment of ethnic, gender and religious sensitivity
• Well-developed written and verbal communication skills, as a financial/banking data analyst is required to liaise efficiently with upper management and also work with a wide range of partners
• Thorough knowledge of banking and financial procedures, policies, principles, functions, and prevalent Somali regulations
• Excellent logical thinking, analytical, and problem-solving skills, which enable the financial institutions analyst to efficiently interpret data
• Excellent time management skills are required to complete several tasks within given deadlines

1. 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).

1. 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 November 2020 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

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

1. 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.

1. Deadline for submission: Expressions of interest should be delivered in a written form to the address below (in person, or by e-mail) by 9th October 2023 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]