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Resident Advisor Pashtany Bank (PB)

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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 PB to further consolidate its operations and increase efficiency to achieve financial sustainability, and maintain its current operating modus as a ‘narrow bank’ focused on offering access to savings and banking and payment services for its urban client base. Medium term GoIRA will explore the potential to crowd-in private capital through a process of capital increase or partial/total divestment, or the consolidation of PB activities and brand within a single State Owned bank.

Job Summary

To support its ambitious reform and modernization efforts for the SB sector and the envisaged consolidation and stabilization of PB, with a medium term view to attract private capital or consolidate PB within a unified SB, GoIRA is seeking to contract qualified consultant services as long term resident advisors to PB.
The consultant is expected to provide support to PB management and Board of Supervisors, and other relevant stakeholders in formulating and implementing the consolidation and stabilization plan for PB, the business plan and as well as proposals for crowding-in of private capital or consolidating PB in a single SB, based on the macro strategic visions outlined by GoIRA for the sector. 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/5
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 consolidation process of PB and the efficient development of its ‘narrow banking’ business to NKB 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 consolidation process of PB and the development and implementation of a sustainable business plan as per the defined strategy of GoIRA. Specifically, the Resident Advisor will support PB management and Supervisory Board in:
 An in-depth assessment of PB’s market potential, customer outreach and competitive advantages.
 Assessing current branch structure and network, establishing performance and efficiency criteria
 Developing an Alternative Delivery Channel approach to enhance outreach and reduce transaction costs.
 Evaluating, streamlining and adjusting HR and operational resources.
 Assessing resources needs and HR requirements; including determination of HR capacities, and training and replacement requirements.
 Designing and implementing training efforts to enhance operational staff capabilities and strengthen risk management and oversight.
 Assessing, reviewing and recommending the development and implementation of a detailed business plan to expand on the ‘narrow banking’ business to be undertaken.
 Advising on the definition and implementation of a product and services strategy aimed at attending defined market segments.
 Undertaking the annual assessment of business strategy and performance, and analyze and recommend adjustments in order to maximize financial sustainability and development impact of the institution.
 Assessing, reviewing and recommending the development and implementation of policy statements and manuals; including strengthening of operational risk management.
 Establishing arrangements for regular structured assessments for the operational and resources strategy in line with the business strategy of the institution.
 Documenting progress and challenges in the transformation and modernization process and implementing appropriate M&E approaches to evaluate the institutions financial, operational and outreach performance.
 Identifying non-strategic assets and determining an implementation plan for their divestment, including the identification of qualified equity investors.
 Identifying PB’s long term capital need and optimal equity structure, including identifying opportunities and qualified investors for capital raises or partial or full divestment of GoIRA’s equity stake in the institution; including developing the corresponding divestment strategy.
 Preparing and implementing any capital raise or divestment strategy for GoIRA equity stake in PB.
 Establishing outreach and communication with all relevant stakeholders
2. Operational and business execution support
Given the tenuous financial position of PB shoring-up and stabilizing its business performance and increasing efficiency is condition sine qua non for the successful development and implementation of a longer term business strategy. The Resident Advisor will support PB Management and Supervisory Board to that effect by supporting a two-step approach of (a) stabilization and consolidation, and (b) development and implementation of a medium term business approach which maximizes the institution’s financial results. Specifically, the Resident Advisor will support Management and the Supervisory Board in:
 Reviewing the current product portfolio mix, market position and institutional capacity with regards to attending to the strategic mandate outlined for the institution by GoIRA
 Determining market and segment strategy, including exposure and risk limits.
 Identifying institutional strengthening needs, designing strategy and implementation plan to address.
 Reviewing organization structures to effectively cater to the cores strategic market segment, including corresponding risk management, control and supervision structures.
 Establishing regular branch performance review and market assessments.
 Identifying alternative delivery channel options and risk assessment technologies to enhance efficiency and outreach; including virtual wallet, agent banking and other delivery mechanism approaches.
 Determining operational and business requirements for the consolidation and stabilization period.
 Developing a detailed implementation plan to address HR and branch adjustments to enhance efficiency.
 Establishing and implement business continuity and contingency plans.
 Establishing operational risk control measures and oversight arrangements.
 Undertaking performance reviews of branches and outlets to determine potential for consolidation and efficiency gains.
3. Coordination and oversight of specialized consulting services
The institutional consolidation and strengthening process for PB is a multipronged endeavor, encompassing engagements and support in a number of different strategic aspects, including (a) the strengthening of 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 PB 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 for PB as defined by GoIRA.
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 World Bank on the resident advisor’s activities, and issues of relevance to BMA operations and adoption of the reform strategy.
• As requested by the World Bank TTL provide periodic reports on the operational and financial performance of PB and improvement recommendations.
• As per request by the World Bank TTL provide periodic reports on particular issues of risk management.
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 36 months from the day of commencement of the contract.

Qualifications

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.
Experience in the management of ‘narrow banking’ approaches or ‘savings banks’ would be desired. Direct experience in the development and implementation of ADC, agent banking networks and virtual wallet systems is required.
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.
The selection shall be based on World Bank procurement guidelines for Services.
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

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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