About the Organization:
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is a leader in sustainable investment in emerging markets. IFC promotes private sector development and economic growth as a way to reduce poverty and improve people’s lives. IFC provides advisory services by establishing partnerships with donors, governments, and the private sector to design and deliver technical assistance programs that promote entrepreneurship, improve the investment climate, mobilize private sector investment and enhance the competitiveness of micro, small, and medium enterprises.
Background
In Haiti, the January 2010 earthquake fundamentally changed the market for housing by destroying or seriously damaging 250,000 to 300,000 houses valued at USD2.3 billion. Over 500,000 people remained in tent camps in Haiti as of January 2012. Overcrowding has increased as many households have doubled up with relatives and/or friends. Haitians seek to rebuild houses to more robust standards, taking into account earthquake and hurricane risks. IFC's client has a well considered but limited approach to lending for incremental house building and renovation prior to the earthquake. Client'€™s housing product is like that of MFIs in many other countries, a consumer loan tailored to the financially stronger and better organized of its clients, who had successfully managed several working capital loans for their businesses. Building materials providers and non-governmental organizations (NGOs) in Haiti have expressed interest in collaborating with IFC on housing microfinance (HMF).
About the Job:
IFC is looking for a Microfinance Consultant. S/he will be responsible for assisting the IFC team and the client to revise the client's HMF product in cooperation with building materials providers and NGOs, provide organizational support, and end – user technical assistance. The consultancy is expected to be implemented over 120 to 150 days and completed by June 30, 2013. Throughout the course of the assignment, the Consultant will report to the task manager in phone calls and visits as often as required by the task manager, and will interact closely with client.
Tasks and Responsibilities:
- Review market survey and focus group results;
- Develop a database of builders, materials suppliers, and incremental housing solutions in collaboration with the client and local counterparties;
- Contribute to a product recommendations report in collaboration with other team members and the client;
- Evaluate incremental housing products to link with microcredits;
- Support the development of the terms of the revised HMF product;
- Support the development of updates to front and back-office procedures;
- Support client staff to develop portfolio projections and financial analysis of the redesigned product;
- Support the development of formal agreements and collaborations between the client and counterparties such as materials providers and NGOs that are active in reconstruction;
- Help to develop training materials to build the capacity of client management, branch managers, credit officers, administrative, and back-office staff;
- Help to deliver training of trainers;
- Support the development and execution of a pilot program rollout of the new housing microfinance product;
- Support the development of a marketing strategy (including pricing policy);
- Support project knowledge management and fundraising efforts;
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For the product recommendations report, contribute to the estimation and analysis of:
- Operational costs to administer and manage the housing portfolio;
- Potential risks and losses;
- Competing credit products;
- Profitability potential of the housing portfolio and capital needs for sustained portfolio growth;
- Income from other sources or investments that could impact housing loans;
- Technological and back office procedures, risk management processes, and instruments necessary to underwrite, originate, and service HMF loans.
- Produce concise written monthly reports on activities for the IFC task manager, with citations of relevant sources where appropriate.
Qualifications:
- Masters level degree in finance or business administration;
- More than 10 years of substantial business experience in microfinance or SME lending, with experience in low-income countries that suffer from deficient market infrastructure;
- Substantial familiarity with the technical and organizational aspects of microfinance or SME product development and implementation, as well as the relevant regulatory and policy issues that impact these business models;
- Understanding of global trends in microfinance, and of emerging best practices and innovations;
- Proven business development skills including developing client relationships, outlining value propositions to clients, and establishing credibility among senior managers in financial institutions and government agencies;
- Demonstrated skills in consulting and providing technical assistance to banks/financial institutions;
- Familiarity with housing finance issues in emerging markets;
- Experience in the Haitian financial and housing markets is an advantage;
- Team player with organizational skills and demonstrated ability to handle multiple tasks simultaneously with minimal supervision;
- Must be willing to go on extended missions (e.g. 4-8 weeks) or to reside in Port au Prince;
- Spoken and written proficiency in French and English are required. Must be able to interact fluently in French conversation with clients and counter parties. Proficiency in Haitian Creole is a plus.
Closing Date: 10 Aug 2012
How to Apply:
Interested candidates can send their resume and cover letter to
lkee@ifc.org
