RFQ: Microfinance Institutional Expert
In India, the access to affordable credit for Bottom of the Pyramid (BoP) segment is still beyond their reach even after increase bank branches, introduction of Small finance Banks and deep penetration of MFIs. This is because of high operating cost for small loans amount. Our client is currently devising credit program/product that is affordable and easily accessible to the low-income women entrepreneur segment including SHG/ JLG individuals, nano & micro women entrepreneurs.
The proposed program/product will explore various approaches to provide affordable credit (say around 13-15% pa) to this segment and create an enabling policy framework for micro-entrepreneurial activities of enterprises in the BoP segment, with specific focus on women, and their graduation. The program includes engagement and advisory services with in-field support, as well as capacity building for the client partners ( like women focused aggregators such as identified State Livelihood Rural Missions (SRLMs)/ Credit Cooperatives, NGO/ CBO-MFIs/ other Non-financial partners etc.)
Roles and Responsibilities
We are looking for a strong Microfinance Institutional Expert who will be responsible for the following
- Review existing credit process and criteria’s adopted and products features offered by the client for target segment (women entrepreneurs/ MFIs)
- Designing microfinance products/programs/credit guarantee structurefor low income women entrepreneurs at the bottom of the pyramid segment
- Support on refining existing processes (standard operating procedures, on boarding process management, supervision tools, risk management tools, process-reengineering among others)
- Design rating mechanism/criteria/tools for various partners and the women enterprises and undertake assessment of potential partners based on the same
- Support in developing tool kit/operational manual for partner NGO/ CBO –MFI/ other key aggregators/partners.
- Devise a due diligence mechanism for client partners and conduct due diligence on a regular basis
- Strengthening business processes and M&E by documenting as is vs proposed functional requirement specification.
- Design MoUs/contracts for relevant partner institutions
- Work with selected intermediaries/partners/ aggregators, to implement end to end operating model as part of new product delivery (Individual, JLG and SHG) as applicable.
- Support in training and capacity building of the client staff and their partners
- Relevant professional experience of a minimum of 8 years of experience in building a small lending operations: examples NGO-MFIs/credit societies/ credit cooperatives/federations etc.
- Should have understanding of institutional, legal and operational aspects of running a NGO-MFIs/credit societies/ credit cooperatives/federations etc.
- Strong understand of the Risk management tools, due diligence, designing and executing credit processes in the context of microfinance
- Strong project planning, implementation, presentation and coordination skills
- Excellent communication and problem-solving skills
- Strong analytical and reporting skills
- Strong interest in increasing access to financial services among un/underbanked segment
- Willingness and Enthusiastic to travel for 1-2 weeks in a month to meet potential partners and support in overall programme implementation.
- Fluency in English and Hindi is must.
- Mandatory: Candidates residing in Mumbai or willing to shift her/his base to Mumbai for a period of 1 years is a must.
How to Apply
Applications must be received no later than March 31, 2023 at midnight ET.
Please submit the following:
- Cover Letter including but not limited to the following components:
- Professional Experience: Your experience and ability to carry out the responsibilities. Please provide relevant examples of your experience;
- Monthly or daily rate
Women’s World Banking will be unable to contract with any individual who is US citizen or resident without an LLC or LP or similar structure.
*** Applications should be submitted in English ***
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Applicants may submit their question(s) in writing until March 28, 2023 to firstname.lastname@example.org. Please include in the e-mail subject line “Questions: RFQ: Microfinance Institutional Expert”.
This RFQ does not guarantee or commit Women’s World Banking to proceeding with the above described work. Due to the overwhelming responses not all candidates will be contacted.
About Women's World Banking
We believe in being a force for the greater good, devoted to accelerating and growing the financial inclusion of women. With rapidly changing markets, influenced by technology and social behavioral expectations, we are embarking on a new chapter to transform the way we design and implement solutions.
For over 40 years, Women’s World Banking has partnered with financial institutions, showing them the benefit of investing in women as customers. We equip these institutions with in-depth research and data driven insights to develop financial products and educational programs. While our clients are financial service providers, our mission is to engage consumers – women who are marginalized by financial systems.
Women’s World Banking and WWB Asset Management is an equal employment opportunity for all regardless of race, color, citizenship, religion, national origin, sex, sexual orientation, gender identity or expression, age, disability, veteran or reservist status or any other category protected by federal, state or local law.