Consultant: Big Data Analytics of Financial Inclusion Data

NGO Jobs / UN Jobs Vacancy

Organization: Alliance for Financial Inclusion
Closing date: 15 Apr 2021

1. Alliance for Financial Inclusion and the National Bank of Rwanda Background

The Alliance for Financial Inclusion (AFI) is a unique international network of central banks, ministries of finance and economy, and other regulatory bodies which hold the mandate to develop and implement financial inclusion policies. Our aim is to do so through our mission of empowering financial regulators and policymakers to increase access and usage to quality financial services for the most underserved and unserved populations.

The Alliance for Financial inclusion is submitting this request for proposal on behalf of its principal member institution, the National Bank of Rwanda. The National Bank of Rwanda (BNR) is the Central Bank of Rwanda. It is a major stakeholder in the National development and economic growth programs with a consistent vision of becoming a World
Class Central Bank. The bank directly or indirectly supports the National strategies of embracing diversity, innovation, inclusiveness and economic integration through ensuring price stability and a sound financial system. BNR has invested heavily in building an Electronic Data Warehouse (EDW) that collects a wide range of granular datasets on
financial services and is implementing the SMART Rwanda Masterplan. In these regards, the vat sector data likely to be generated calls for an increase in capacity among policymakers and regulators in order to fill any remaining significant data gaps on segments of the population for which financial inclusion is still lagging behind, and to
address key areas which require additional policy interventions.

The project is foreseen to build a team of BNR financial policymakers and regulators who will be capable of training others (Training of Trainers) in the area of big data analytics for financial inclusion. They would have increased capacity to effectively and efficiently determine the extent to which individuals have access to financial services and use them, exploiting granular and high-frequency data on transactions made through bank accounts (savings, borrowing, and payments). In practice, the analysis of the existing wealth of datasets already available will allow the identification of the following: how frequently do individuals use bank accounts and for which reasons (e.g., payments, savings)? How much and frequently do individuals borrow and for what purpose (e.g., consumption, business, housing, education, health, etc.)? How likely are they to repay on time and which characteristics are associated with the presence of arrears and defaults? How much do individuals save? How extensive is credit rationing and which factors are more likely to be associated with it? How common is it for individuals to have relationships with more
than one financial institution?

Crucially, statistics on all the aspects of the usage of financial services will be computed for different demographic groups, e.g. by gender, age group, employment status, urban-rural, type of bank (commercial banks, MFIs and SACCOs) and across geographies to provide a complete overview of access to finance.

2. Objective:

The overall goal of the project is to support the implementation of the Rwanda National Financial Inclusion Strategy 2019 – 2024 which has an objective of increasing the level of formal financial inclusion amongst adults in Rwanda from 68 per cent in 2017 to 90 per cent in 2024 through building the capacity of the National Bank of Rwanda staff in the effective process, safeguarding, analysis, and research of financial big data to support the effective monitoring of financial inclusion strategy.

There are two deliverables:

  1. Analytical report that inform future financial inclusion policy interventions during the implementation of the National Financial Inclusion Strategic Action Plan, with more detailed analysis of the saving and borrowing patterns of segments of the population using big data analytics.
  2. Capacity building programs in big data analytics for BNR staff and the development of basic research capabilities to plan and execute focused analytics to bring evidence-based policy implementation.

3. Scope of Work:

The consultant (or consulting firm) is expected to produce a final report of the financial inclusion framework articulating findings, data issues in data, clear regulatory, supervisory and oversight principles for the participation, actions, operations and support of FinTechs in the financial services ecosystem in Rwanda.

The following sets out the scope of work and expected deliverable under this brief:

• Inception meeting - preliminary consultations with the BNR team to agree on the scope, expected deliverables, support, reporting and related timelines.
• Big data analytics training needs and plan: assessing and identifying the current data availability, including structured and unstructured data with a specific focus in digital financial services, as well as the training needs of technical team members as well as other relevant national stakeholders in the data research teams who may be engaged, in order to tailor the training accordingly. The consultant will also provide hands-on training on big data analytics for different relevant technical teams within BNR including in areas such as data research methodology, data collection and data sharing between different regulatory institutions, data confidentiality and protection safeguards, data granularity and segmentation, data warehouse, big data analytics procedures and sharing and dissemination recommendations to complete the data analysis cycle; Conducting an evaluation of data processing infrastructure and capacity, data quality and cleaning procedures.
• Diagnostics and baseline report on financial inclusion for the NFIS: Big data financial inclusion baseline report produced with policy recommendations for NFIS.
• Multi-stakeholder Engagement Workshop/Webinar to validate and adopt analysis based on big data analytics: The consultant shall be the lead resource person for the workshop. The consultant under the supervision of BNR shall lead with the planning, agenda setting, briefing, coordination and facilitation of the workshop with the objective to facilitate discussions with broad and relevant stakeholders, solicit suggestions and inputs and identify outlines and scope of the report.
• Finalize Deliverable: Based on inputs from the BNR, AFI team, and select stakeholders the consultant shall finalize the report based on approval by BNR.

Note: The actual implementation of the framework is out of scope for this project.

4. Timelines:

This work would be undertaken between May 2021 to December 2021. The key timelines are available in the RFP doc

During the assignment, the BNR team will closely oversee, guide and support the consultant by: sharing internal expertise and existing research; contacting or connecting key stakeholders to assist in arranging the consultant’s communications; and providing inputs to deliverables. This assignment is expected to involve extensive data analytics and interaction with key stakeholders.

5. Travel:

For consultant domiciled in Rwanda, local travel is expected, depending in the prevailing health conditions. Kindly provide detail pricing in Annexure 2.

6. Consultant Experience:

• 7+ years of professional experience in data analytics, specifically the financial development and financial inclusion.
• Experience in data analysis or data visualization, quantitative and qualitative data, Big Data, mobile phone call detail records, financial inclusion, social network data, or geospatial data/satellite imagery required;
• Experience with scripting, coding, and web design for data access, analysis, and presentation required.
• Experience working with production databases, building data pipelines and automated dashboards;
• Familiarity with analytical techniques such as text mining, sentiment analysis, machine learning, predictive analysis, event detection, or modeling of complex systems desirable.
• Experience working in the fields of macro-economic or financial sector desirable.
• Experience analyzing data from economic or financial monitoring systems and the banking system in developing countries and writing scientific articles is desirable.
• Demonstrated experience presenting work to both technical and non-technical audiences and leading a data science team.
• Excellent written and presentation skills in the English language. Knowledge and proficiency in any other language will be an added advantage.
• Previous experience working in sub-Sahara Africa on issues related to financial inclusion, fintech with policymaking and regulatory institutions is desirable.

7. Reporting:

Throughout the contract period, the consultant will be reporting to the Project Lead from the BNR supported by the Technical Lead from the AFI team supporting this deliverable.

8. Evaluation Criteria:

Proposals will be evaluated following based on the following criteria:

  1. Academic qualification and experience of the firm in related assignments; 20%
  2. Experience and competence of the key staff for the assignment related; 35%
    • Adequacy for the assignment - 20%
    • Regional/global experience - 15%
  3. Adequacy of the proposed work plan and methodology in responding to the Terms of Reference; 30%
    • Technical approach and methodology - 15%
    • Workplan - 15%
  4. Sample work – Written and oral experience in English ;15%

How to apply:

Interested applicants are expected to submit a proposal with updated CV and using template given (Download RFP doc here) by email to AFI’s Procurement & Contracts Office at by 15th April 2021.

The final decision on selection of a consultant/consulting firm for this project rests with AFI management team and with the Inquiry. Only shortlisted and successful consulting firms will be contacted.

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