Short-Term Blockchain and Financial Systems Integration Consultant in IFC - International Finance Corporation

Please read the job description thoroughly before submitting your application. Instructions on how to apply may be found at the end of this post.The International Finance Corporation (“IFC”), the private sector arm of the World Bank Group (“WBG”), fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. Private sector financial development is essential to the promotion of successful and sustainable economies in low- and middle-income countries around the world. Sound and efficient financial markets can ensure that resources are allocated where they are most productive, assisting job creation and spurring economic growth.The Financial Institution Group (“FIG”) at IFC has three main objectives: 1) financial inclusion 2) servicing the real economy and 3) mobilizing third-party resources. Through the financial inclusion initiatives, IFC helps to increase the availability and affordability of financial services both for corporate entities and individuals. Our priorities in Europe region are, inter alia, to strengthen bank and non-bank financial institutions, develop financial infrastructure, and improve the legal as well as regulatory framework.Overview To design options and explore feasibility of leveraging DLT for creating additional financing opportunities for Small and Medium sized farmers, IFC will embark with NDU, on a 6 month pilot project to test the feasibility, design the platform and evaluate learnings to see how this concept can be scaled to operationalization along with integration with existing systems. This is a joint effort with WBG ITS Technology & Innovation Lab.Business Justification: The use of distributed ledger for crop receipts is merely the first use case for this technology that can/will be applied more broadly for other use cases. The rationale for testing the use of DLT and designing the architecture is to determine how would DLT work in practice and whether it would render 1) the operational cost savings intended 2) facilitate the securitization of such financial instruments (crop receipts) and opening access to different type of financing by bringing traceability and identifiability of each individual instrument.Background: Crop receipts are a strong first use case given the following attributes:a) Allow farmers without sufficient, “normally eligible” assets to establish secure and efficient collateral for lenders.b) Crop receipts will facilitate cash payments or input payments against future harvest. They are an effective financing instrument due to the concept “persistent obligations,” which means that if there is nonperformance against a crop receipt, the obligation remains attached to the land plots the next season. c) The crop receipts are subject to an “out of court” enforcement procedure, requiring a seven-day response time to seize the pledge for the creditor. d) Crop receipt legislation protects creditor rights, such as the right to monitor the crop and transparency based on a centralized public register, wherethe creditor can see a farmer’s obligations and historical performance in crop receipts.National Depository of Ukraine (NDU) will participate/ advise in design the Presto prototype, identify critical factors, test the feasibility, and evaluate learnings in this project spanning 6 months. ObjectiveThis project has the following main objectives:1) Determine the business case and feasibility of using DLT for tokenizing e-crop receipts to create financing opportunities2) Understanding tech requirements, capabilities and design options for future DLT and tokenization enabled platforms/project and assess how it can potentially integrate with the existing systems at NDU.3) Determine whether the use of the platform (incl. use of smart contracts) will render desired operational ease, reduce customer transaction costs, and improve stakeholder engagement.4) Explore how an asset like E-crop receipt can be tokenized, pooled and leveraged as a financial instrument using advanced technologies to open up newer financing avenues.Scope of WorkTo achieve the Project’s objective, IFC is seeking to obtain the services of a specialized independent consultant (“the Consultant”) who will work in close proximity with NDU to prepare the documentation required to facilitate the decision whether to:1. Launch a full pilot with NDU to design the architecture of the PRESTO platform and;2. Proceed with full implementation once the pilot results and feasibility are ascertained. The consultant will be interviewing the NDU to outline the current practices across four different pillars:Stakeholders and InteractionsList of business processes and their description at the conceptual levelSystems and InfrastructureInternal controls/ checks and balancesThe Consultant is expected to perform the work in the following areas:Preparation: Interviews and research of current systems, stakeholders, etc., to set up the baseline for the prototype and eventual pilotIllustrative Examples: providing the current landscape and steps involved for the creation, processing, monitoring and closing of CRsPresentation: prepare a presentation to outline the architecture, parties involved and explain how the systems fit in togetherReport: outlining how the pilot can be launched into the current systems and implications for full implementation; the report should facilitate the blueprint for the pilot and full implementation; the report describing the status quo should assist in the decision making and stakeholder presentations for full implementationConsultant should be present in Kiev during the whole Project execution period in order to be able to interact with the relevant stakeholders. The Consultant should be available to have meetings / calls with the IFC team leading the Project as required. The Consultant has to be able to communicate effectively in English – comprehension of the local language(s) is a plus but not required.IFC will give guidance throughout the Project (related to the scope of work) and validate the key milestones, perform an ongoing monitoring of the works, and review/validate the deliverables.The particular form, structure, and language (i.e., English, or local one(s)) of the Consultant’s deliverables resulting from the above provide scope of services will be discussed separately with IFC project team.The duration of the assignment will be 6 weeks from the date of signing of the contract. Should there be a need for IFC to extend the duration of the assignment, IFC will discuss this separately with the Consultant.Requirements/QualificationsThe selected Consultant is expected to have:Deep understanding of financial services, payment platforms design and how to implement them;Ability to summarize information in a clear, concise and effective manner; visually engaging;Familiarity with Ukrainian financial sector, and related ecosystem in particular;Excellent oral and written presentation skills in English and Ukrainian;Diligent attitude to work;Capacity to commit and deliver within the required deadlines;Familiarity with IFC, multilateral development banks, and private sector approaches to development.ApplicationProfessionals who meet the selection criteria may submit their CV and a cover letter to Omolade Oladipupo on [email protected] by July 4, 2024.We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Show more Show less Посадовий рівень Не застосовується Тип зайнятості Зайнятість за контрактом Посадові обов’язки Інформаційні технології і Управління проєктами Галузі Фінансові послуги