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Resident Advisor Bank-E-Millie Afghan (BMA)

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About Ministry of Finance

Ministry of finance
The State-Owned Banking sector of Afghanistan currently comprises three bamkng institutions, all of which are dutifully established under Law and regulated by the Central Bank of Afghanistan: Bank-E-Millie Afghan (BMA) and Pashtany Bank (PB) have been historicall state-owned and were established originally in 1933 and 1954, respectively. New Kabul Bank (NKB) was only established 2011, as part of the resolution efforts and nationalization of the collapsed privately-held Kabul Bank.
With US$565 million in total assets Bank-E-Millie Afghan (BMA) is the largest of the three State Owned Banks (SBs), accounting for about 46% of the SB sector. However, BMA loan book is comparatably small equivalent to about 7% of assets and focused on approximately 150 mainly corporate clients. A substantial part of BMA assets are held in liquid instruments or investments, with interest income of the latter driving overall financial performance.
The Government of the Islamic Republic of Afghanistan (GoIRA) has embarked on implementing an ambitious strategy to reform and modernize the SBs of Afghanistan, with the aim to establish the SBs as financially sustainable institutions that will provide a meaningful economic contribution towards GoIRA’s aim of increasing access to finance for all Afghan economic and social sectors, thereby contributing to GoIRA’s objective of fostering economic growth and job creation. Implementation of GoIRA’s reform and modernization strategy will be supported by the World Bank funded ‘Modernizing Afghan State Owned Banks’ project.
The strategy seeks to modernize and reform SBs in three fundamental areas: (a) Corporate Governance, (b) institutional development and businesses strategy, and (c) information technology systems. Essential elements of the SB strategy will be the definition and implementation of a sustainable business strategy, including the redefinition of the business models of SBs, and the possible adjustment of the size of institutions in accordance to their respective mandate and business strategy.

Job Summary

To support its ambitious reform and modernization efforts for the SB sector, GoIRA is seeking to contract consultant services for qualified long term resident advisors: one in each SB, and one at the Ministry of Finance. This ToR has been prepared for a resident advisor who will support the implementation of BMA modernization. GoIRA is also recruiting an advisory firm (consultancy firm) who will be responsible for the implementation of sectoral and structural elements of the State Banks reform strategy.
The ToR focus on a consultant expected to provide support to BMA management and Board of Supervisors, in formulating and implementing the activities related to the reform and modernization plan for BMA, based on the strategic vision outlined by GoIRA.
This will include – but will not be limited – to the detailed definition of the business objectives and plan, identification of implementation steps and resources requirements, formulation of relevant policies and procedures, definition of resources needs and establishment of performance targets.

The Resident Advisor will provide support and input to the reform and modernization process of BMA by advising BMA Management, Supervisory Board and ownership representatives on all relevant strategic, policy and technical aspects of the process. The Scope of Services is expected to range from supporting high level definitions of strategy to focused hands-on support in the implementation process of the modernization program and the reorientation of the institution; including the definition, design and implementation of policies, procedures, processes and manuals.

Job Details

Date Posted: 11 Jun 2018 Reference: MOF/MOSB/3
Closing Date: 26 Jun 2018 Work Type: Full Time
Number of Vacancies: 1 Gender: Any
Functional Area: Adviser Open Ended: NO
Nationality: International Salary Range: As per company salary scale
Contract Type: Fixed-term Years of Experience: 10 Year(s)
Contract Duration: 12 Year(s) & 0 Month(s) Extension Possibility: Yes
Probation Period: 2 Months

Duties and Responsibilities

Scope of Services:
The Resident Advisor will provide support and input to the reform and modernization process of BMA by advising BMA Management, Supervisory Board and ownership representatives on all relevant strategic, policy and technical aspects of the process. The Scope of Services is expected to range from supporting high level definitions of strategy to focused hands-on support in the implementation process of the modernization program and the reorientation of the institution; including the definition, design and implementation of policies, procedures, processes and manuals.
Broadly, the Scope of Services is divided into activities in four areas, as outline in more detail below:
1. Strategic and policy advisory
The Resident Advisor will provide support and technical advice in operationalizing and implementing the reform and modernization strategy defined by GoIRA. Specifically, the Resident Advisor will support BMA Management and Supervisory Board in (among others):
 Assessing, reviewing and recommending the development and implementation plan for BMA of a detailed 5 year business plan in line with GOIRA SB strategy.
 Advising on the implementation arrangements and action plan of the business strategy in order to guarantee the financial viability of the institution (see no.3 for details).
 Reviewing implementation results and identifying adjustments needs of the business plan on a regular basis, including documenting opportunities for and challenges to BMA’s financial and operational strengthening and proposing supportive or remedial measures.
 Advising on the definition and implementation of a product and services strategy aimed at attending defined market segments and designing relevant policies, procedures and processes.
 Undertaking the annual assessment of business strategy and analyze performance and reviewing the product portfolio mix, market position and institutional capacity and accordingly and recommend adjustments in order to maximize financial sustainability and development impact of the institution.
 Assessing, reviewing and recommending the development and implementation of the Bank’s internal policy statements and manuals.
 Preparing and undertaking the integration of business and operations of State Banks.
 Establishing arrangements for regular structured assessments for the operational and resources strategy in line with the business strategy of the institution.
 Periodic budgeting and financial planning and definition of long-term required resources.
 Defining and implementing of a ‘Delivery Channel’ strategy, taking into account and evaluating the efficiency of the traditional branch network and emerging alternative delivery options.
 Identifying alternative delivery channel options and risk assessment technologies to enhance efficiency and outreach; including the incorporation of scoring and automated credit assessment technologies into the credit risk identification, origination and administration process, as well as virtual wallet, agent banking and other delivery mechanism in the outreach process.
 Establishing outreach and communication with all relevant stakeholders.
 Documenting progress and challenges in the transformation and modernization process, and implementing appropriate M&E approaches to evaluate the institution’s financial, operational and outreach performance.
 Identifying non-strategic assets and determining an implementation plan for their divestment, including the identification of qualified equity investors.
 Preparing and implementing any capital raise or divestment strategy for GoIRA equity stake in BMA.
2. Capacity Building
The Resident Advisor will support BMA Management and Supervisory Board in fostering the institution’s capacity to successfully integrate business and operations and transition with other SBs towards a universal banking approach, which emphasizes attending to small and medium business in its lending activities. Specifically, the Resident Advisor will support Management and the Supervisory Board in:
 Building out the HR and systems’ capacity to adequately identify, assess, administer and recover credit risks, including organizing and conducting specific training activities to improve staffs’ skills, supervisory know-how and independent review competence.
 Conducting regular reviews and amend relevant business and credit risks policies, procedures and operational manuals and instructions.
 Organizational reviews to determine optimal organizational structure and assign relevant capacity, for efficient and effective credit risk management.
 Reviewing and improving bank’s HR management policies, procedures and structures.
 Formulating HR capacity allocation plans, career progression frameworks and succession plans.
 Developing and implementing on-going staff performance monitoring and evaluation systems, and performance based remuneration systems.
 Establishing and implementing of a training structure and framework
 Review and modernize HR management policies, procedures and instruments
3. Coordination and oversight of specialized consulting services
The institutional reform, strengthening and refocusing process for BMA is a multipronged endeavor, encompassing engagements and support in a number of different strategic aspects, including: (a) the strengthening and reform of Governance structures, (b) focused communications efforts to support the rebranding and market positioning of the SB in coordination with the communications advisor who will be hired under this project, and (c) significant investments in the modernization of the technological infrastructure and processes.
The Resident Advisor is expected to support BMA Management and Supervisory Board in coordinating and overseeing the various activities to be undertaken, in order to ensure that outcomes align with the strategic and business priorities as defined by the bank.
The resident advisor will also work in close coordination with the advisory firm that will be recruited by GoIRA for the implementation of the sectoral and structural aspects of the strategy as concerning BMA. Once the advisory firm is on board, the resident advisor will supervise, liaise with and complement the advisory firm’s services, through recommendations to MoF as required. The Resident Advisor is expected to be placed at BMA, a few weeks before the advisory firm is on the ground. The resident advisor will be responsible for undertaking preliminary reviews, preparing key documentation, and taking key first initial actions in the implementation of the GoIRA strategy.
Furthermore, the Resident Advisor is expected to coordinate and consult closely and as needed its work efforts with the Project Banking Expert Advisor assigned to the project implementation team in MoF.
Deliverables:
• Policies, procedures and manuals for the new product mix and internal operations
• Quarterly budget and financial plans including analysis of actual historical performance against planned and defining projected targets.
• Branch network assessment and outreach strategy and the action plan for the branch network operations.
• Monthly progress reports submitted to MoF and IDA on the resident advisor’s activities, and issues of relevance to BMA operations and adoption of the reform strate
Duration and Type of contract:
• The contract shall be Time/ Based
• The entire scope of services need to be as executed and the listed deliverables be delivered in Kabul, for a duration of 24 months from the day of commencement of the contract

Qualifications

Selection Criteria:
The Consultant must have:
• Minimum ten years of relevant professional experience in the domain of Banking, Finance, Accounting, Audit, Strategic planning and budgeting, costing, asset management and Risk management.
• Significant experience in small and medium enterprise financing. Experience in financing of semi-urban, rural and agriculturally based business highly desirable.
• successfully participated in the implementation of at least two similar consultancy projects, in terms of scope (multi-year, policy level intervention).
• Proven experience in working in similar capacity, bank management or financial sector supervision or similar in (post) conflict and fragile states desirable.
• At least Masters level qualification and/or qualified certification of equal level.
• Fluency in spoken and written English is a must; knowledge of Dari or Pashto an advantage.

Job Location

Afghanistan - Kabul

Education:

Masters Degree, Account/Finance

Submission Guideline

Interested International candidates are requested to submit a cover letter, CV and related documents to the email address mentioned specifying the position and vacancy number in the subject line.

Submission Email

application.hr@mof.gov.af

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