Global Call for applications for the roster for Insurance and Risk Finance Experts
The purpose of this procurement exercise is to launch a Roster of Insurance and Risk Finance Experts to support the work of the Insurance and Risk Finance Facility (IRFF). The IRFF is UNDP’s flagship initiative on insurance and risk finance, and supports UNDP Country Offices and country partners worldwide, within the Sustainable Finance Hub. This work covers a range of critical areas where insurance and risk transfer solutions and collaboration with the industry can add significantly to achieving and delivering on the Sustainable Development Goals (SDGs). The primary purpose of the IRFF Roster is to deploy technical experts to support and respond to the needs of the country offices in a time efficient manner.
The United Nations Development Programme (UNDP) is a global organization with 17,000 staff working in approximately 170 offices globally towards supporting governments in developing strong policies, institutions and partnerships to achieve the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals. UNDP's policy work carried out at HQ, Regional and Country Office levels, forms a contiguous spectrum of deep local knowledge to cutting-edge global perspectives and advocacy. In this context, UNDP invests in the Global Policy Network (GPN), a network of field-based and global technical expertise across a wide range of knowledge domains and in support of the signature solutions and organizational capabilities envisioned in the Strategic Plan. Within the GPN, the Bureau for Policy and Programme Support (BPPS) has the responsibility for developing all relevant policy and guidance to support the results of UNDP's Strategic Plan.
Sustainable Finance Sector Hub
In order to streamline its financial and investment engagement, UNDP launched the Sustainable Finance Hub, a finance and innovation platform, that draws on a critical mass of UNDP expertise, initiatives, and partnerships to support the mobilization and leveraging of resources for the SDGs and lead the implementation of the new UNDP private sector strategy and other initiatives. The Hub is an integral part of both the Bureau for Policy and Programme Support (BPPS) and the Bureau of External Relations and Advocacy (BERA), as well as part of the GPN. The Hub serves as a connector, broker, and global coordinator among internal and external actors, and curates and manages UNDP’s catalogue of service offers on SDG financing to governments, investors, and companies, via the COs, to significantly enhance the scale. The Sustainable Finance Hub team in Geneva works across a range of activities relevant to financing and investment for the SDGs, with strong links to financial, private and institutional sectors across Europe. In particular, it leads on UNDP’s work in insurance and risk financing while delivering initiatives that target the ecosystems of investment actors across Europe.
Insurance and Risk Finance Facility (IRFF)
The collaboration between the insurance industry and the development sector has grown significantly over the last five years. Key initiatives, such as the Insurance Development Forum, InsuResilience Global Partnership and the Ocean Risk and Resilience Action Alliance, have evolved into significant policy and standard setting partnerships, bringing together countries, the development sector, and the private and mutual/cooperative sectors of industry. Increasingly, these partnerships are moving beyond policy to programming, with a strong focus on not only delivering insurance and risk financing solutions to countries and communities, but also on long-term transformational change of insurance markets.
IRFF is UNDP’s flagship initiative on insurance and risk finance for supporting UNDP Country Offices and country partners worldwide, within the Sustainable Finance Hub. This work covers a range of critical areas where insurance and risk transfer solutions and collaboration with the industry can add significantly to achieving and delivering on the Sustainable Development Goals (SDGs). Covering inclusive insurance, sovereign risk financing, insurance investments, natural capital, health, SME development and more, UNDP will work towards developing and delivering insurance solutions together with countries and communities, as well as collaborating with partners to transform insurance markets through enhancing legislation, regulation and institutional capacity.
IRFF will deliver innovative protection solutions in 50 developing countries by 2025. Currently, the Facility is operational in 20 countries. We support the development of innovative insurance products and services that are aimed towards vulnerable people and communities while also investing in the long-term transformation of insurance markets. We are working closely with industry partners to deliver policy advice, guidance, tools, methodologies, and networks that boost country and community resilience towards socio-economic, health, climate, and other shocks. The Facility’s work also goes beyond insurance supply and demand. It examines legislations, regulatory and institutional capacity development, and invests in advocacy, training and education.
The Facility’s activities fall under different thematic areas as elaborated below.
Integrating Insurance into Development: The Facility will work with government and industry to comprehensively integrate insurance and risk-financing into the way countries financially manage their risks and build long-term financial resilience, with a focus on integrating modelling and analysis of the impacts shock and risk on development and development finance. This scope of the Facility’s work includes:
Inclusive Insurance: The Facility is creating effective partnerships with insurers at all levels to develop innovative insurance products and distribution solutions designed specifically to meet the needs of underserved populations and contribute to the InsuResilience Vision 2025 target of covering 150 million vulnerable beneficiaries by 2025. This scope of the Facility’s work includes:
Sovereign Risk Finance: The Facility is partnering with industry and building institutional capacity and regulatory environments that are critical to limiting the impact of disasters on people’s lives and to help countries' reach their development goals. This scope of the Facility’s work includes:
Natural Capital Insurance: The Facility is working with countries and communities to develop risk transfer solutions for natural capital protecting which can benefit people and the planet. This include ways in which natural capital can be protected to support economy, and livelihoods, engaging in advocacy and risk awareness, supporting the integration of natural capital into country development plans, and helping to improve associated legislative and regulatory frameworks. This scope of the Facility’s work includes:
Insurance & Investment: The Facility is exploring opportunities for insurance to de-risk and incentivize resilient investment through innovative financing structures such as insurance-linked loan packages and resilience bonds. The Facility is also developing a pipeline of SDG-aligned insurance and investment opportunities in developing countries that meet the investment standards of insurers that are developed in collaboration with industry stakeholders. An equally important part of this work is advocating for improved policies and regulatory treatment of infrastructure investment by insurers at the local and international level.
Agricultural Insurance: The Facility is also supporting the development of climate risk insurance solutions for smallholder farmers. This scope of the Facility’s work includes:
Takaful (Islamic alternative to insurance): The Facility is also supporting the creation of enabling environment and expanding affordable access to Takaful for vulnerable and fragile populations. This involves providing them with access to risk transfer solutions that are in-line with the socio-cultural and religious beliefs and to help protect against risks to their property, agriculture, livestock, health, and livelihoods. This helps in providing respite to public funding resources by sharing the risks through private sector Takaful operators (companies). This scope of the Facility’s work includes:
Gender and Insurance/Risk Finance: The Facility adopts a gender lens to increase access to information and choice of solutions to strengthen vulnerable populations’ resilience to disaster. Gender sensitive approaches can create positive opportunities for greater action across all the pillars of the facility’s work. This scope of the Facility’s work includes:
Risk Modelling: The Facility is working to strengthen risk understanding and risk modelling capabilities. This is a component part of each country work plan which includes a capacity building module on risk modelling for government stakeholders and their development planning. Additionally, the Facility is working with its partner the Insurance Development Forum on the roll out of the Global Risk Modelling Alliance (GRMA). Interested governments are supported by UNDP to apply for the GRMA for technical and financial resources to establish an open-source risk model to support government decision-making and the development of risk finance and insurance solutions.
More information on the Insurance and Risk Finance Facility is available at https://irff.undp.org/.
Duties and Responsibilities
The main responsibility will be to provide expert assistance to country offices, government agencies and other partners in one of the thematic areas listed above. Experts will need to demonstrate extensive professional experience in the selected area. The rostered experts can be deployed on demand as individual contractors for short-term assignments on a national, regional or international level. Specific terms of reference with assignment specific responsibilities and deliverables will be developed for each assignment. Functional areas of expertise can typically be one of the below:
The representative set of duties and responsibilities listed below is not exhaustive, and the terms of reference of each assignment will dictate the exact scope of the work. Key areas of support and activities will include:
Experts can be deployed for/to the following regions or countries:
- EXPECTED OUTPUTS AND DELIVERABLES
Each assignment will dictate the exact outputs and deliverables. The list below is a representation of outputs and deliverables that may be expected:
- Demonstrates integrity by modelling the UN’s values and ethical standards
- Promotes the vision, mission, and strategic goals of UNDP
- Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability
- Treats all people fairly without favouritism
- Fulfils all obligations to gender sensitivity and displays zero tolerance for sexual harassment
- Strong research, reporting, written and verbal communication abilities. Ability to effectively summarize and present technical information to non-technical audiences
- Ability to conduct effective meetings, listen to others and engage in dialogue
- Demonstrated experience working in developing countries, with a focus on any one or more in the workstreams listed above
- Strong interpersonal and coordination skills, ability to work in a team and to communicate clearly and diplomatically with stakeholders from diverse backgrounds
- Demonstrated data collection and analytical writing skills
- Ability to accommodate additional demands on short notice
- Experience in establishing contacts and liaising with partner organizations and governments
- Maturity of judgement and ability to work under pressure and cope with situations which may pose conflict
Proficiency in MS Office (Word, Excel, PowerPoint, Outlook)
Required Skills and Experience
Required Qualification (Max 40 points – candidates must score a minimum of 30 points)
- A Master’s degree in an area related to Economics, Actuarial Science, Business, International Development, Insurance, Finance, or other related areas, or Bachelor’s degree with 10 years of relevant working experience in lieu of a Master’s degree (10 points)
- At least 7 years of experience in one or more of the following areas: - sovereign risk finance, inclusive insurance, climate risk insurance, agricultural insurance, takaful insurance, big data and risk modelling, actuarial science, insurance & investment, gender & insurance, insurance regulation, public financial management, and/or disaster risk financing. Substantial and additional experience will be scored higher. (Max 25 points)
- Fluency in written and spoken English is required (max 5 points)
Desirable Qualifications (Max 60 points)
- Demonstrated field experience in distribution, operations and management of risk financing solutions or microfinance, including awareness raising and training and capacity strengthening. (Max 10 Points)
- Experience in supporting country level planning and project development processes on insurance and risk finance. (Max. 10 points)
- A proven track record working with and implementing projects with governments especially in developing countries and emerging markets on insurance and finance sector is desirable. (Max 10 points)
- Five years of work experience in a developing country context is desirable. (Max 10 Points)
- Field experience with UNDP or other development organizations is an asset. (Max 5 points)
- Professional Insurance certifications like Chartered Insurance Institute UK or actuarial qualifications such as Fellow or Associate of the Society of Actuaries are an asset. (Max 5 Points)
- Fluency in one of the following languages - Spanish, French, Portuguese, Arabic and Russian may be required for certain countries. (Max. 10 points). Please note that fluency in any of these languages implies that you will be able to take on assignments in the specified language.
- APPLICATION PROCEDURE
The application package containing the following (to be uploaded as one file):
Shortlisted candidates (ONLY) will be requested to submit a Financial Proposal.
The Financial Proposal is to be submitted as per the instruction in the separate email that will be sent ONLY to shortlisted candidates
- EVALUATION PROCESS
Evaluations will be as follows:
Stage 1 - Desk review
Candidates obtaining a minimum of 70 points (with minimum 30 points minimum under the required qualification) will be invited for an interview
Stage 2 - Interview
Interview will carry 40 points. Candidates who obtain a minimum of 30 points in the interview will be requested to submit a financial proposal and are invited to be included to the Roster.
Stage 3 – Reasonableness of Financial Offer
While no financial evaluation will be done for candidates at this stage, the reasonableness of the quoted daily professional fees shall be assessed based on the UN rate. If the proposed daily rate is too high and a mutually acceptable rate cannot be agreed upon, UNDP will not be able to include the candidate into the roster.
- CONTRACT AWARD AND OTHER ARRANGEMENTS
Individuals who will be considered technically qualified, will be offered to be placed on the roster. When opportunities arise, experts on the roster will be contacted for availability and asked to submit a financial proposal for the assignments fitting their thematic area. The daily professional fee quoted by each candidate during the application stage will be the maximum fee to be quoted when a call is sent to the roster before a IRFF mission.
Upon selection, an Individual Contract (IC) or Reimbursable Loan Agreements (RLA) will then be awarded for the assignment. This will have a specific Terms of Reference, including the time frame.
Annexes (click on the hyperlink to access the documents): https://irff.undp.org/publications/call-applications-irff-roster
Annex 1 - Questionnaire
Annex 2 - UNDP P-11 Form for ICs
Annex 3 - IC Contract Template
Annex 4 - IC General Terms and Conditions
Annex 5- RLA Template
- Qualified women candidates are strongly encouraged to apply.
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