Investments and Institutional Capital

Scope of services

PSDI is preparing a roster of experts to perform assignments focused on strengthening retirement funds, institutional investors, capital markets and investment ecosystems in Pacific DMCs, including with respect to women’s issues. Tasks will be executed with a strong results focus and may involve providing assistance to: (i) improve governance, operational performance and investment management capability of retirement funds and other institutional investors; (ii) strengthen strategic planning, investment frameworks, risk management and balance sheet sustainability; (iii) support development of domestic capital markets and investment vehicles; (iv) support development of investment products and structures including investment trusts, infrastructure investment trusts, real estate investment trusts and collective investment schemes; (v) support institutional investment into infrastructure, housing, agriculture, tourism and other productive sectors; (vi) strengthen actuarial capability and financial sustainability of retirement funds; (vii) support development of the insurance sector and related institutional investment frameworks; and (viii) support legal, regulatory and institutional reforms to strengthen investment ecosystems. Shortlisted technical experts will be engaged on a framework agreement and included in the Investments and Institutional Capital Roster. The framework agreement will become effective when a Notice to Proceed (NTP) is issued. Once on the framework agreement, experts may be selected for a specific assignment, at which point a call-off will be issued, reflecting the assignment details (e.g. terms of reference with requirements for the task, number of working days, expected outputs, and timing) and location specific out-of-pocket expenses (per diem and travel) and will be processed before the start of the specific assignment by PSDI. PSDI works on a demand basis from Pacific DMCs and it is not possible to define the volume and size of its assignments. Based on the volume and size of assignments undertaken under previous PSDI phases, an approximate estimate is 20WDs input within 3 calendar months per call-off. The expert will report to the ADB technical assistance supervising unit (TASU) officer, and the Framework Agreement (FA) will be managed by the relevant ADB department. It will be established for a period of four years and will be open and non-exclusive. Inclusion on the framework agreement (and inclusion on the roster) does not guarantee that the expert will be requested to perform an assignment. Travel in the region is likely to be required (when feasible). Some assignments may be home-office based. Any need for international travel shall be assessed by ADB and the Consultant using ADB’s advice at the time of travel. Subject to ADB’s approval, the Consultant may use remote video technology meetings to replace face-to-face meetings as considered necessary. Experts recruited under this FA will be expected to perform specific tasks within the broader framework and will require knowledge and skills relevant to their assigned task(s) only. Detailed Tasks and/or Expected Output An individual consultant under this FA may be engaged to perform one or more of the following tasks: 1. Undertake diagnostic studies on retirement funds, insurance companies, institutional investors, capital markets and investment ecosystems across a broad range of issues including governance, investments, investment management, liquidity, sustainability, operations, risk, actuarial issues and regulatory frameworks. This may include consideration of gender issues. 2. Assist retirement funds and other institutional investors to develop and implement governance frameworks, investment management frameworks, risk management policies, strategic plans, operational policies and other institutional strengthening initiatives. 3. Provide technical investment expertise to improve investment capability and strengthen investment selection, portfolio management and oversight across relevant asset classes and sectors. 4. Support development of domestic capital markets, securities markets and investment ecosystems in Pacific DMCs, including with respect to gender issues. 5. Support development of investment structures and products including investment trusts, infrastructure investment trusts, real estate investment trusts, collective investment schemes, managed investment vehicles and blended finance structures. 6. Assist retirement funds and other institutional investors to assess opportunities for domestic investment and mobilization of long-term capital into productive sectors. including infrastructure, tourism, housing, agriculture, renewable energy, telecommunications and SME finance. 7. Advise on institutional and fund structures, including subsidiary entities and specialized financing vehicles, to improve governance, risk management and efficient deployment of capital. 8. Provide technical actuarial expertise to retirement funds and insurance-related institutions to support assessment of financial sustainability, balance sheet management and long-term risk. 9. Support initiatives to strengthen insurance markets and institutional investment frameworks within Pacific DMCs. 10. Assist governments, regulators and market participants to strengthen legal, regulatory and institutional frameworks for investments, securities markets and collective investment structures. 11. Develop and implement training programs and capacity building initiatives for retirement funds, institutional investors, regulators, investment committees, boards and other stakeholders, including with regard to gender issues. 12. Provide technical inputs and support to PSDI publications and regional knowledge products relating to retirement funds, institutional investment, capital markets and investment ecosystems. 13. Undertake other relevant activities as required. The expert will submit deliverables and outputs of the specific terms of reference to the ADB technical assistance supervising unit (TASU) officer and the relevant client counterpart in the Pacific DMC. The deliverables will vary depending on the nature of the assignment, and may include the following: 1. Reports; 2. Policy and strategy documents; 3. Financial and actuarial models; 4. Investment frameworks and operational guidance documents; 5. Training materials and workshop delivery; 6. Institutional assessments and implementation plans; 7. Other outputs as may be required for specific tasks. Minimum Qualification Requirements General expertise requirements are: (i) Subject matter expertise in one or more of the following areas: pension and retirement fund operations, pension and retirement fund investment management, asset management, capital market development, investment management, financial modelling, actuarial modelling, infrastructure finance, collective investment schemes, investment trusts, securities markets, risk management, insurance, institutional investment, blended finance, financial sector development, gender issues related to the above areas. (ii) Work experience with one or more of the following: retirement funds, insurance companies, asset management firms, investment funds, stock exchanges, securities regulators, finance companies, commercial banks, central banks or other financial sector policy agencies, prudential supervisors, development finance institutions and financial research institutions. In addition to the expertise requirements mentioned above, the consultant will meet the following requirements: • at least a bachelor’s degree in economics, business, finance, investment management, actuarial science, commercial law or a related subject, or equivalent experience and expertise; • at least 8 years of experience in one or more of the stated subject matter and/or functional areas; • for actuarial assignments, must have formal actuarial qualifications and accreditation; • in-depth knowledge of retirement fund, investment and capital market development issues, preferably in the Pacific and preferably with in-country experience; • familiarity with the operating modalities of multilateral development finance institutions; • ability to tailor advice and approaches for specific country contexts, including small island developing states; • willingness to travel to and stay in remote locations in the Pacific (when feasible); • ability to produce accurate and responsive program reports along with excellent communication skills; • strong interpersonal skills and the ability to develop effective working relationships with counterparts in the Pacific, ADB staff as well as other development partners; and • ability to work collaboratively, constructively receive and respond to feedback, comply with ADB’s rules and procedures, and safeguard ADB’s reputation. Preferred: • capability to lead discussions at the highest levels of government, including ministers of finance, central bank governors, heads of retirement funds, securities regulators, investment committees, boards and senior representatives of financial institutions and the private sector. Minimum General Experience 15 Years Minimum Specific Experience (relevant to assignment) 10 Years Regional/Country Experience Required Desired Not Required Copyright (c) 1998, 2023, Oracle and/or its affiliates. All rights reserved. Copyright (c) 1998, 2023, Oracle and/or its affiliates. All rights reserved. Pick a Date Loading... Loading...