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Resident Advisor New Kabul Bank (NKB)

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About Ministry of Finance

Ministry of finance
Background of the Assignment
The Government of the Islamic Republic of Afghanistan (GoIRA) has embarked on the execution of an ambitious strategy to reform and modernize the State Owned Banking sector (SB) of Afghanistan, with the aim to establish the State Owned Banks as financial and economic sustainability institutions which will provide a meaningful contribution towards GoIRA’s aim of increasing financial inclusion and 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 SB in three fundamental areas: (a) Corporate Governance, (b) institutional development and businesses strategy, and (c) information technology systems.
Essential elements of the strategy will be (a) the consolidation of the sector and number of institution, (b) the definition and implementation of a sustainable business strategy, which combines GoIRA financial sustainability and outreach, and (c) the review and adjustment of the size of institutions in accordance to their respective mandate and business strategy.
State Owned Banking Sector
The State-Owned Banking sector of Afghanistan currently comprises three bamkng institutions, all of which are dutifully established under Law and regualted 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.
At the end of 2016 the three institution combine for total assets of approximately US$1,063 million, equivalent to a share of about 27% of total banking assets in the country. However, despite their relvance in terms of assets relative to the rest of the banking sector, SBs play only a very limited role in terms of intermediation and provision of financing to the private sector. In fact, two of the three institutions – PB and NKB - at present operate under special regulatory regimes as ‘narrow’ banks limited to savings business, as well as banking and payment services, as a result of their capital deficiency until end of 2016. Only BMA has a minor active loan book that represents about 7 percent of total assets and is composed of exposures to approximately 150 mainly corporate clients. As a result, all SB are holding elevated liquidity levels, equal to between 70% (BMA) and 84% (NKB) of total assets at the end of 2016. In consequence, the principle income drivers of the three institutions are investment income from placing liquid funds and net service and commission income.
The modest assets size and intermediation contribution belies the significance of SB in terms of access to finance and financial inclusion. With a total of 131 branches the three SBs account for almost ¼ of all bank branches in the country. Fruthermore, SB as a whole are the only institutions with coverage in all provinces. Furthermore, at the end of 2016 the SBs combined for roughly 2,300 employees, equivalent to about ¼ of all sector staff.
Over the last decade the operational and financial performance of the SBs has been challenged as much by the adverse operating environment as by institutional constraints. This included the repeated use of the institutions for achieving political, social and constituency objectives in disregard of financial considerations and their economic viability. Poor performance especially with regards to the origination, administration and recovery risks but also more broadly the overall operations and administration of the institutions has undermined their viability, resulting over time in substantial fiscal burdens through successive rounds of significant loan losses, equity write-downs, and recapitalizations.
Moreover, poor exercise of ownership interests and weak corporate governance structures have impeded development of a coherent business strategy and market approach for the institution, which would foster the economic and developmental goals of GoIRA while safeguarding the financial sustainability of the institutions.
Going forward GoIRA strategy for SB envisages reorganization of the SB’s and integrating their operations. This targets reforming the business, operations and contractual arrangements of SBs. As a result it is anticipated that NKB’s brand will be discontinued and over time the entity will legally be extinguished.

Job Summary

To support its ambitious reform and modernization efforts for the SB sector and the transformation for NKB in particular, GoIRA is seeking to contract qualified consultant services as long term resident advisors to NKB.
The consultant is expected to provide support to NKB management and Board of Supervisors, and other relevant stakeholders in formulating and implementing the transformation plan for NKB, based on the strategic visions outlined by GoIRA for integrating SB’s operations, while guaranteeing the continued successful execution of current business during the transition period. This will include – but not be limited – to the detailed definition of a transition road-map, identification of implementation steps and resources requirements, including a HR transition plan, establishment of relevant operational and risk control measures and design of adequate internal and external communication strategy.

Job Details

Date Posted: 11 Jun 2018 Reference: MoF/MOSB/4
Closing Date: 26 Jun 2018 Work Type: Full Time
Number of Vacancies: 1 Gender: Any
Functional Area: Account/Finance 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: 3 Months

Duties and Responsibilities

Scope of Services:
The Resident Advisor will provide on-going support and input to the transformation process of NKB and to the Bank’s management and Supervisory Board, ownership representatives and other relevant stakeholders. The Scope of Services is expected to cover support in all relevant strategic, policy and technical aspects of the process, ranging from supporting high level definitions of strategy to hands-on support in the implementation process.
Broadly the Scope of Services is divided in activities in three areas, as outline below in more details:
1. Strategic and policy advisory
The Resident Advisor will provide support and technical advice in operationalizing and implementing the strategy of GoIRA. Specifically, the Resident Advisor will support NKB management and Supervisory Board in:
 Assessing, reviewing and recommending the development and implementation of a detailed implementation plan.
 Advising on the execution of the business strategy during the transition process, in order to guarantee uninterrupted execution of business objectives and operational performance.
 Supporting valuation processes of assets and contracts.
 Assessing resources needs and HR requirements; including determination of HR capacities.
 Designing HR process to address the integration and consolidation process.
 Developing branch assessment methodology to determine optimal branch location.
 Establishing outreach and communication with all relevant stakeholders
 Documenting progress and challenges in the transition and integration process and implementing appropriate M&E approaches.
 Identifying non-strategic assets and determining an implementation plan for their divestment.
2. Operational and business execution support
Given the relevance of NKB for payroll services in Afghanistan, particularly for the public sector and the security services, particular care will be placed to maintain business services uninterrupted during the transition and integration process. The Resident Advisor will support NKB Management and Supervisory Board to that effect by supporting the development and implementation of detailed operational procedures and contingency plans. Specifically, the Resident Advisor will support Management and the Supervisory Board in:
 Determining operational and business requirements for the transition and integration.
 Developing a detailed implementation plan to modernize operations and business activities of NKB as per GoIRa’s reform strategy.
 Establishing business continuity and contingency plans for the transition period.
 Establishing operational risk control measures and oversight arrangements to safeguard business activities during the transition period.
 Establishing joint coordination committees between NKB and BMA business groups.
 Undertaking performance reviews of branches and outlets to determine potential for consolidation and efficiency gains.
3. Coordination and oversight of specialized consulting services
The transition and integration process of NKB into BMA is a multipronged endeavor, encompassing engagements and support in a number of different strategic aspects, including (a) the support of the transitional Governance structures, (b) focused communications efforts to support the rebranding and market positioning of the SB, and (c) significant investments in the modernization of the technological infrastructure and processes. The Resident Advisor is expected to support Management and Supervisory Board in coordinating and overseeing the various activities to be undertaken, in order to ensure that outcomes align with the strategic priorities defined by GoIRA.
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 NKB. 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 NKB, 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:
1. Monthly progress reports submitted to MoF and World Bank on the Resident Advisor’s activities, and issues of relevance to NKB’s transformation and adoption of the reform strategy.
2. Periodic reports, as requested by the World Bank TTL, on the operational and financial performance of NKB.
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 18 months from the day of commencement of the contract..

Qualifications

Selection Criteria:
The Consultant must have minimum ten years’ relevant professional experience in the domain of Banking, Finance, Accounting, Audit, Strategic planning and budgeting, costing, asset management and Risk management.
The Consultant must have successfully participated in the implementation of at least two similar consultancy projects of like magnitudes (multi-year, policy level intervention) in (post) conflict and fragile states.
The Consultant must have minimum 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.

Selection Method:
Selection will be carried out through Limited Competitive Selection of Individual Consultants in accordance with paragraph 7.38 of the Bank’s Procurement Regulations for Borrowers for Goods, Works, Non-Consulting and Consulting Services dated July 1, 2016 (Procurement Regulations)

Job Location

Afghanistan - Kabul
AF AF 12

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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