Senior Advisor on Microfinance Examination

The Livelihoods and Food Security Trust Fund (LIFT) is a multi-donor trust fund established in 2010 to address food insecurity and income poverty in Myanmar. LIFT has received funding from 14 donors – the United Kingdom, the European Union, Australia, Switzerland, Denmark, the United States, the Netherlands, Sweden, France, Luxembourg, Italy, New Zealand, Ireland and Mitsubishi Corporation. The United Nations Office for Project Services (UNOPS) is the Fund Manager to administer the funds and provide monitoring and oversight.

The overall goal of LIFT is to sustainably reduce the number of people living in poverty and hunger in Myanmar. LIFT’s purpose is to improve the incomes and nutrition status of poor people in Myanmar by promoting resilient livelihoods and food security. LIFT’s designated outcomes are improvements in income, resilience, nutrition, and pro-poor policy developments.

LIFT works with implementing partners that include international and national non-government organisations, United Nations agencies, the Government of Myanmar, private sector organisations, academic and research institutions.

LIFT is active in the four main agro-ecological zones of Myanmar: the Ayeyarwady Delta, the Rakhine State, the central dry zone (including Mandalay, Magway and the southern Sagaing region), and the upland areas of Chin, Kachin, Kayah, Kayin and Shan States and Tanintharyi Region.

So far, LIFT has reached more than 7.2 million people, or roughly 20 per cent of Myanmar’s population; and is active in almost half the country’s townships. LIFT is funding projects through to June 2019. For more details visit www.lift-fund.org.

Objective of the Assignment

Microfinance interventions have been a key element of LIFT support to households, aimed at improving both agricultural and non-agricultural livelihoods in Myanmar. Up until now, LIFT has partnered with 17 microfinance institutions, reaching out to more than 1.6 million households. The efficiency of microfinance markets depend on effective regulations and supervisions; the Ministry of Planning and Finance thus formed the Financial Regulatory Department (FRD)[1]in October 2011 as the focal Government Agency for regulating and supervising microfinance markets (see more details about FRD at this link http://www.mof.gov.mm/en/content/myanma-small-loans-enterprise).

Since 2012, LIFT has been supporting FRD in its capacity development in the areas of policy development, supervision, and information management.

FRD recently issued a set of regulations that support microfinance markets by allowing microfinance institutions to provide higher loan amounts, borrow from any other financial sources, and take up deposit-taking licenses with increased paid-up capital. These regulations also hold institutions to client protection principles. This new set of regulations aims to promote operational efficiency, accountability, responsibility, and client protection among microfinance institutions when delivering financial services. In order to ensure that all microfinance institutions comply with new and existing rules and regulations, FRD is obliged to examine microfinance institutions on a regular basis.

FRD has requested LIFT to provide a team of microfinance examiners to take on the responsibilities of providing on-the-job training to FRD staff members in conducting on-and off-site examinations of microfinance institutions. The key objectives of this assignment are to create technical resources as well as increase the national capacity to conduct microfinance examinations within FRD. The team, composed of an international consultant and a local expert, would be tasked with the responsibilities of developing principles and guidelines for microfinance examination and conducting hands-on exercises in the form of on-the-job training for FRD staff members.

LIFT requires a microfinance examiner, with the support of a local expert, will provide training and take on an advisory and hands-on role in developing the capacity of the FRD examination team. Under the supervision of LIFT’s International Program Officer of Rural Finance , and in close coordination with FRD, the consultant will be responsible for the following:

a)     On-the-job training of examiners:

• Examine and verify the accuracy of accounting and financial statements;
• Review a sample of loan files to ascertain proper documentation and adequate procedures;
• Review board policies and verify compliance;
• Analyze and interpret financial and statistical data;
• Evaluate management;
• Ascertain compliance with applicable laws, rules, bylaws, and sound business practices;
• Draft and teach a course on pertinent laws, regulations, policies, and directives that govern the operation of Microfinance Institutions (MFIs);
• Guide and assist in both on- and off-site examinations of MFIs;
• Travels to areas where MFIs are based; and
• Perform other assignments as per the needs of the FRD and LIFT.

b)     Develop training and guides:

• Consult with FRD, LIFT, microfinance institutions, and the Myanmar Microfinance Association (MMFA) in the preparation of contents in the guide; 
• Draft an MFI Examiner Guide;
• Trial test draft MFI Examiner Guide; and
• Finalize MFI Examiner Guide.

c)     Advisory and oversight tasks: 

• Conduct special investigations or examinations of MFIs;
• As a result of the examination, oversee the examination team on the preparation of confidential reports of examination that identify risk factors and causes, unsafe and unsound practices, and violations of laws and regulations that have affected or may affect the safety and soundness of MFIs. The purpose of the “prompt and corrective action” is to assist MFI officials in resolving problems—this is a partnership between FRD and the MFIs; and
• Provide feedback to the FRD DG (or appropriate person) on the performance of employees assigned to the FRD examination team.

Deliverables

• Overall work plan covering all major activities through consultation with FRD and LIFT within six weeks after starting date;
• Quarterly work plan covering detailed activities through consultation with FRD and quarterly achievement report; and
• Manual of microfinance institution examiner guide.

Education

• A Master’s degree in the areas of business administration, accounting, finance or related field to the ToR  is required.
• A Bachelor’s degree in combination with additional two years of similar experience may be accepted in lieu of a Master’s degree.

Experience

• A minimum of 7 years of relevant professional experience related to microfinance training, portfolio management, financial analysis, auditing, and operation management is required.
• Demonstrated senior examiner experience with commercial banks, credit unions and microfinance institutions is required.
• Demonstrated experience in microfinance training and examination would be a strong asset.
• Working experience in Asia and Pacific regions is preferable.

Language requirement

• Fluency in both written and spoken English is required.

• Please note that the closing date is midnight Copenhagen time
• Applications received after the closing date will not be considered.
• Only those candidates that are short-listed for interviews will be notified.
• Qualified female candidates are strongly encouraged to apply.
• For staff positions only, UNOPS reserves the right to appoint a candidate at a lower level than the advertised level of the post
• The incumbent is responsible to abide by security policies, administrative instructions, plans and procedures of the UN Security Management System and that of UNOPS.  

It is the policy of UNOPS to conduct background checks on all potential recruits/interns. Recruitment/internship in UNOPS is contingent on the results of such checks.