TTT - Training And Technology Transfer Ltd

Social Finance Specialist and Team Lead

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Last update: May 19, 2022 Last update: May 19, 2022

Details

Deadline: May 30, 2022 Deadline for applications has passed
Location: Pakistan Pakistan
Job type:Contract, 4 to 12 months
Languages:
EnglishEnglish
Work experience: Min 12 years
Date posted:May 19, 2022
Expected starting date:Jun 30, 2022

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Description

Social Finance Specialist and Team Lead (international; 3 person-months)

Based on the initial feasibility study and all additional, comprehensive analyses required, the consultant will lead the handholding and capacity building of the GoS agencies along with preparation of the validation study and the program implementation plan for the proposed SEIB and assist the GoS and its key agencies in the operationalization of the impact bond transaction. The consultant will work closely with the other experts assigned to the project to carry out necessary assessments and validations to inform developing a viable program implementation plan.

Minimum Qualification

  1. Bachelor's Degree in Public Policy, Development Management, Public Administration or a related field, Master's Degree is preferred;
  2. At least 12 years of relevant experience in the development sector with at least 5+years of experience in social finance and blended finance;
  3. Have in-depth experience in leading social finance projects in Asia and/or elsewhere, leading the development of project proposals, feasibility studies, commissioning of large impact bonds, fundraising for impact investing in social sectors, in development of Sovereign programs in the social finance space and in elaboration and interpretation of findings;
  4. Sound knowledge of impact investing and social finance sector, blended finance models for financing programs in school education, and in developing and implementing programs in Africa or Asia and must be conversant on the recent developments in social financing for the education sector;
  5. Must have strong expertise in working with bilateral and multilateral donors;
  6. Experience of working with a range of partners, including government agencies and the private sector;
  7. Excellent research and analytical skills;
  8. Excellent written and oral communication skills in English;
  9. Experience in and working knowledge of Pakistan and/or Central or South Asia;
  10. Prior experience in designing such a program or working for an IFI for a similar consultancy assignment is a plus; and
  11. Ability to work independently.

Scope of Work

 

The consultant will be responsible for the following tasks:

  1. Lead the preparation of the validation study. This shall include assessment and validation of the business case, analyse capabilities of the key agencies of the GoS and potential service providers to ascertain their capacity to execute the proposed SEIB, including SEIB’s relevance, justification, adequacy, and appropriateness, perform a detailed value for money analysis for the proposed impact bond transaction;
  2. Lead activities to support handholding and capacity building of the key agencies of the GoS and its personnel on Impact Bond modalities.
  3. Along with the Education Sector Advisor develop and implement the stakeholder engagement plan for SEIB. Ensure timely capturing of the requirements of GoS towards operationalisation of the SEIB. As a technical expert participate in technical discussions with GoS and its agencies to develop a common understanding of the proposed impact bond transaction;
  4. In close coordination with the legal expert, analyse the legal and regulatory environment in Pakistan in relation to the SEIB operationalisation in Sindh, Pakistan, including review of the legal controls, governance mechanism, procurement guidelines, legal documents to inform operationalisation of the SEIB supported by interactions with all relevant regulatory bodies and other relevant stakeholders to propose recommendations and actions related to the SEIB’s legal and governance structure;
  5. Lead discussions with the private sector and ensure appropriate private sector engagement and participation in key meetings and workshops. Lead discussions with investors, financers and coordinate all activities with regards to co-financing requirements and fundraising;
  6. Lead the development of a time-bound SEIB Program Implementation Plan in close coordination with other experts, covering possible operating framework and implementation arrangement(s), detailing the overall role and objectives, governance structure, as well as operational aspects; This would include,
    1. A strategic roadmap for business operations with possible design options for the proposed impact bond transaction and with an explanation of key design choices, including evidence and lessons learned from comparable projects in South Asia in the education sector;
    2. In coordination with the financing and costing expert, development of an initial financial forecast (including project profit & loss statement and cash flows for the life-cycle of the SEIB) to guide GoS on the transaction and bring about broad agreement among key stakeholders, indicative budget, detailing the initial financing requirements, recommendations on capital structure and potential financing sources including a description of the fundraising strategy and possible fund flow arrangement(s); (iii) A draft operating model detailing the service(s) that would be paid for by SIB investors, including a detailed articulation of how these services would meet the needs of the target population, interact with existing local authority provision and governance structures and what would be the indicative costs to deliver the programme;
    3. Lead development of a viable operations model, help flesh out any operationalisation challenges towards creating a viable program implementation plan for the roll-out of the proposed impact bond
    4. transaction; Illustrations of the possible operating model developed and high-level buy-in achieved from the commissioners of the Project, the GoS; To include assessment of institutional capabilities of the potential Service providers and key GoS Agencies;
    5. To coordinate with the Education Sector Evaluation Specialist (Outcomebased Contracting) to define output-based contract parameters and synchronise SEIB outcomes with implementation of the SSEIP project;
    6. Identify Key implementation risks in consultation with GoS and other key stakeholders and suggest mitigation measures;
    7. Evaluate international best practices in supporting the procurement of services using impact bond mechanism in the education sector to recommend the modalities best suitable for Pakistan taking into consideration local context, legal and regulatory framework, infrastructure needs, the readiness of the government agencies and other stakeholders. This will also need to cover IFI’s experience in supporting these initiatives, with the main focus on similar initiatives in developing countries, notably Central and West Asia, India, Bangladesh, Indonesia and others;
    8. Under the GoS, identify an institutional anchor and a governance mechanism for the roll-out of the SEIB. Ensure the proposed roll out to be incompliance with the legal requirements of the GoS;
    9. To coordinate with the financing and costing specialist and the education procurement specialist to provide options for appropriate and cost-effective implementation arrangement(s). Recommend modalities best suitable for making such financing mechanisms affordable, possibly through appropriate credit enhancement mechanisms or other financing arrangements;
    10. Appropriately identify the institutional capacity building requirements for the government counterpart (GoS) and appropriately propose an initial plan for the same. The implementation recommendations to include options for donor engagement, on-boarding of new development partners and private sector investors, and on ways to resolve the key legal and regulatory constraints identified;
  7. Provide expected timeline, details of resources needed and a list of activities and responsibilities for all relevant stakeholders;
  8. Develop a clear rationale for ADB involvement;
  9. Clearly identify the resources required for the execution of the subsequent phase and lay-out the next steps after the completion of the program implementation plan, including necessary TA budget implications, consulting resources and their job descriptions;
  10. Ensure that this output will provide all required recommendations needed for the GoS and the ADB to make the decision on whether to commission a SEIB;
  11. Conduct extensive consultations with all key stakeholders to inform them about the objectives, scope, corporate, governance and management structure of the proposed SEIB;
  12. Prepare and conduct a workshop(s) for all key stakeholders to present the proposed structure, disseminate findings and build consensus for the proposed recommendations; and
  13. To provide other relevant support to ADB as required.
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