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Financial Management (APTC) - PFIP
Procurement Process :RFP - Request for proposal
Office :UNDP - FIJI
Deadline :21-Feb-19
Posted on :07-Feb-19
Development Area :CONSULTANTSCONSULTANTS
Reference Number :53217
Link to Atlas Project :
00112866 - Inclusive Growth
Documents :
Terms of Reference
P11 Form
Request for Proposal
Overview :

TERMS OF REFERENCE

Location

Suva, Fiji and home-based

Application deadline

21st February 2019

Type of Contract

Firm

Title

Financial Management (APTC) - PFIP

Languages required:

English

Duration of Initial Contract:

25 working days

BACKGROUND

Background

There has been unprecedented regional policy support and commitment to inculcate the region’s people with the knowledge, skills and habit of good personal financial management. These include:

 

  1. 2008 Coombs Declaration on strengthening financial capability in the Pacific promulgated by Pacific finance ministers, central bank governors, PIFS and donors.
  2. 2009 Forum Education Ministers Meeting, in noting the success of the Samoa Enterprise and Financial Education Curriculum (EFEC), requested UNDP Pacific Centre and the Pacific Islands Forum Secretariat (PIFS) to work with donors to assist other PICs to implement EFEC
  3. 2009 Regional Financial Literacy Workshop organised by PFIP where central bank governors, finance ministry officials and practitioners identified Financial Education in schools as a regional priority
  4. 2009 Forum Economic Ministers Meeting endorsed the four 2020 Money Pacific regional goals which, among others, called for all children to receive financial education through the core curricula.

 

2020 Money Pacific Goals

In each Pacific Island nation by 2020, through the combined actions of public and private sectors, our goals are :

  • All schoolchildren to receive financial education through core curricula.
  • All adults to have access to financial education.
  • Simple and transparent consumer protection to be in place.
  • To halve the number of households without access to basic financial services.

 

  1. Furthermore, 6 Pacific Island countries (Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga and Vanuatu) have made Maya Declaration Commitments relating to improving financial inclusion including financial literacy.

 

Low-financial competency of low-income population

In 2012 and 2013, financial competency surveys were undertaken by the PFIP in conjunction with 4 central banks (the Reserve Bank of Fiji, the Bank of Papua New Guinea, the Central Bank of Samoa and the Central Bank of the Solomon Islands, in collaboration with the national statistics offices in these countries.  The survey examined the financial competency of low income households vis-à-vis the matrix of 13 core financial competencies identified across the Pacific and provided an important baseline against which progress in improving the financial behaviour of financial decision makers in low-income households can be measured.  A principal finding of the survey is that low-income households in the Pacific do not demonstrate financially competent behavior.

 

The competency categories and scores are detailed in the table below:

 

Category

Domain

Competency

High

Nil

Nil

Moderate - High

Managing Money

Managing essential expenditure

Planning Ahead

Setting household goals and plans

Low-Moderate

Managing Money

Managing regular and one-off expenditure

Managing Money

Managing household income

Making Financial Choices

Managing savings

Making Financial Choices

Managing long-term savings

Managing Money

Identifying and recording household expenditure

Managing Money

Keeping household records

Managing Money

Non-cash transactions

Making Financial Choices

Managing borrowing

Managing Money

Managing requests for financial assistance

Low

Planning Ahead

Managing budgeting

Making Financial Choices

Managing cost of money

 

 

Low levels of financial competency across the Pacific region expose low-income households to several significant risks:

  1. The risk of exploitation by financial predators.  Such is due to a limited understanding of the actual cost of financial services and the risks associated with the financial services products and services and providers.   Low income households are at significant risk of incurring exploitative costs for financial services, whether these are transaction services (domestic and international), savings services or borrowing (formal and informal).
  2. The risk of ineffective use of household cash flows.  Households that do not know their pattern of income and expenditure in the household are at risk of failing to use household cash flows effectively.  These households have a limited ability to save and to build savings in order to provide for regular household requirements and are more likely to have to borrow for consumption expenditure.
  3. The risk of households being caught in a poverty trap. Households unable to generate a surplus have a higher likelihood of being caught in a poverty trap. Households that have low financial competence have a reduced ability to withstand financial shocks, and are less likely to be able to use credit effectively to increase its assets and income generation capability.
  4. The risk of poverty in old age. It appears the pervasive reliance by low income households on family or community support in retirement may not be adequate in a monetised economy.  Low income households appear to be very aware of this problem. Between 20 – 25% of respondents did not know how they would meet household expenses when they were no longer working.

 

The partner - Australia Pacific Training Coalition

The Australia Pacific Training Coalition (APTC) is an Australian Government initiative, which was launched in August 2018 and is managed by TAFE Queensland with funding principally from the Department of Foreign Affairs and Trade. The Coalition was formerly, the Australian Pacific Technical College which began operations in 2007 as a provider of Australian-standard skills and qualifications relative to vocational careers, across 14 Pacific Island countries. 

 

Over the years, APTC has been viewed as the premier provider of tertiary vocational education in the Pacific region.  In addition to training for individuals, APTC offer employers customised training and consultancy services in targeted industry sectors to increase the productivity of their employees and the organisation.

 

APTC offers Australian qualifications from Certificate I to Diploma level training in various vocational areas across campuses in five countries – Fiji, Papua New Guinea, Samoa, Solomon Islands and Vanuatu. Courses are delivered by highly regarded and qualified trainers, and which results in an Australian-accredited qualification. 

 

The APTC was rebranded to the Australia Pacific Training Coalition to reflect changes in its approach, which are designed to strengthen innovation in the delivery of training and increase engagement with the private sector. These enhancements are targeted at boosting employment outcomes, addressing skills shortages in the region and strengthening technical and vocational educational training systems in Pacific Island countries.

 

In addition to customised courses, APTC offers a range of skills-development based training in the fields of business, community service, education, engineering, fashion, hospitality and tourism and the built environment.

 

The Coalition is also responsible for preparing Pacific Islanders to leverage labour market opportunities in Australia, New Zealand, within the region and beyond.

 

Financial Education

The activity covers the development of a Financial Education curriculum providing targeted and comprehensive Financial Education learning within selected training courses offered by APTC to as many students as possible in a sustainable manner.  The curriculum will be responsive to areas of weakness in financial competencies at the regional level.  The development of the curriculum will be followed by resource development, rigorous teacher training and review. The APTC will implement the pilot after a series of rigorous teacher training.  A set of comprehensive assessment and impact tools will be designed in partnership with the APTC, to be administered and monitored during the piloting and implementation stages.  Reporting will be required over the duration of the initiative.

DUTIES AND RESPONSIBILITIES

Scope of work  

  1. Financial Education

The activity involves firstly, a stocktake of Financial Education across the teaching and learning materials within courses of learning identified by the APTC, at campuses in Fiji, Papua New Guinea, Samoa, Solomon Islands and Vanuatu. 

 

The activity involves, secondly the development of a complete framework of learning outcomes together with the identification of the method and means of introduction. The learning outcomes must be worded in the appropriate language for introduction taking into consideration existing curriculum documents and be developed using a consultative approach. How such an initiative would be replicated/introduced beyond the selected courses of integration must also be considered when designing the framework of learning outcomes.

 

In order to prepare the detailed framework of learning outcomes for selected courses, the broad areas of review and assessment will include, but will not be limited to:

 

  1. Regional and national policy, vision, and expectations of Financial Education for Pacific Island countries being serviced by APTC;
  2. A review of the current and proposed (where this exists) education curriculum of the APTC;
  3. Teaching and learning resources available within the APTC;
  4. Processes for introducing or integrating new learning into the curriculum; and
  5. The capability, capacity and appetite of key stakeholders to support Financial Education in the medium to long term.

 

In undertaking framework design and development, the following must be seriously considered and appropriate strategies designed to enhance opportunities and to mitigate risks:

  1. To make available Financial Education learning to as many students as possible (regardless of course selection) over a sustained period;
  2. The existing human capacities and institutional structures within and available to the APTC;
  3. Ensure sustainability;
  4. Optimize ownership and buy-in by staff members, students, the private sector, and other key stakeholders;
  5. To leverage technology in the delivery of financial education; and
  6. Address national financial competency areas of weakness.

 

  1. Labour Mobility Financial Literacy

The third aspect of the activity is to develop an APTC-approved structured financial literacy training module for candidates for Labour Mobility to be delivered by APTC or their partners, prior to departure. This must be completed after a stocktake for Financial Education learning outcomes currently within pre-departure training for candidates for   Labour Mobility.  The stocktake will then feed into the design of the financial literacy training module.  Where possible, the delivery of financial literacy training must consider technology available to candidates at the outset and during their placement under Labour Mobility schemes.

 

  1. Supplementary tasks

The successful bidder will consult with, but is not limited to, the following stakeholders (in person or via telecommunications):

 

  1. The APTC;
  2. The formal education sector, where relevant including training providers;
  3. Financial inclusion stakeholders working on the agenda of Financial Education; and
  4. Financial service providers providing and potentially providing services to young adults and/or who currently provide financial literacy training.

 

Optimal consideration must be given to the teaching of financial literacy to female students and persons with disability, and to make lessons accessible and appropriate to female students and students with disability at all levels – without reinforcing traditional roles. The consultants will be also guided by cultural considerations, which can be understood through interactions with the APTC and other local stakeholders.

 

A multi-stakeholder meeting will be organized towards the end of the scoping to be held in Suva for the successful tenderer to present the final outputs and outcomes of the activities within the initiative. Such presentation may be made electronically. 

 

Expected Outputs and Deliverables

The following deliverables will be accomplished within the allocated timeframe:

  1. Financial Education
    • A stocktake of existing Financial Education learning within the existing curriculum;
    • A strategy for the introduction of Financial Education within selected learning areas with detailed learning outcomes identified in a Financial Education learning matrix/framework. The latter must be developed keeping in mind the optimal introduction approach. Learning outcomes must be specific to the Pacific region and cognizant of the Financial Competency priorities of the region;

 

  1. Labour Mobility related Financial Literacy
    • An APTC-approved structured financial literacy training module and assessment for candidates for Labour Mobility

 

  1. General
    • Progress reports – Comprising an update on all deliverables and provided fortnightly during the course of the activity to PFIP and APTC; 
    • Final report – Comprising a clear and comprehensive response to items (i-ii above) to be submitted to PFIP and APTC within one calendar month from completion of field work.
    • Final report - The final report must also contain:
  1. The strategy must include a detailed budgeted workplan for the Financial Education intervention together with the structured financial literacy training module for candidates for Labour Mobility; and
  2. Identification of expected considerations needed at APTC and other relevant stakeholder interactions, to ensure an effective extension of Financial Education within broader APTC areas of work.

 

Institutional Arrangements

The successful bidder would report to the Regional Technical Specialist at PFIP, duration the term of the contract.

 

The successful bidder will provide their own work equipment, computers, computer programmes, printing, telephone and internet connectivity for this activity.  When the consultant(s) is/are in Fiji, general work space will be provided at the PFIP offices. Meetings will be held at the APTC offices in Suva and will be arranged by PFIP.

 

Reporting has been referenced above.

 

Duration of the Work

The suggested level of effort of the assignment will entail an estimated 25 working days of both Fiji-based and home-based work.  These estimated working days are not necessarily consecutive. The estimated level of effort for this activity has been represented below.

 

 

Activities

 

Est. Level of Effort

1

Developing and finalising FinEd framework. This includes as a minimum:

  • An environmental scan of FinEd learning within the current curriculum
  • Identifying the courses of integration
  • Finalising Financial Education learning outcomes
  • Observation of the current teaching, learning, resources used and assessment implemented within APTC.

10 working days

 

(Combination of Home based and Fiji work)

2

Design of a detailed Financial Education learning outcomes matrix/framework with a strategy for introduction within APTC-approved areas of learning.

5 days

 

(Home based)

3

APTC-approved structured financial literacy training module and assessment for candidates for Labour Mobility.

8 days

 

(Combination of Fiji work and home based)

4

Report preparation

2 days

 

(Home based)

 

The actual level of effort will be subject to periodic review by the Pacific Financial Inclusion Programme during the course of the activity.

 

Duty Station

  • Suva, Fiji and home-based for report writing.

 

 

COMPETENCIES

  • Strong interpersonal and communication skills;
  • Strong analytical, reporting and writing abilities skills;
  • Openness to change and ability to receive/integrate feedback;
  • Ability to plan, organize, implement and report on work;
  • Ability to work under pressure and tight deadlines;
  • Comprehensive knowledge of Financial Education and curriculum development;
  • Proficiency in the use of office IT applications and internet in conducting research;
  • Outstanding communication, project management and organizational skills;
  • Excellent presentation and facilitation skills.
  • Demonstrates integrity and ethical standards;
  • Positive, constructive attitude to work;
  • Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability.

 

REQUIRED SKILLS AND EXPERIENCE        

Educational Qualifications:

This activity will require a team effort comprising a minimum of two specialists with relevant expertise in Financial Education curriculum development, teacher and student resources development, student assessment tools development, implementation and monitoring over the period of the assignment. 

 

Additionally, at least one specialist must have strong strategic planning, programme development and project management experience. The successful bid will be expected to manage the scope of the programme with minimal project oversight. 

 

Experience

  • A proven track record demonstrating over 5 years of similar work in other similar task environment relating to Financial Education institutions, with specific focus on countries with low levels of financial literacy, such as the Pacific, is considered a prerequisite.

 

  • The desired working style must be empowering to national partners and foster optimal application of local knowledge and capacities in delivering the recommended framework and detailed learning outcomes across all levels.
  •  

Language requirements

Fluency of the English language is required.

  •  

Price Proposal and Schedule of Payments

The bidders must send a financial proposal based on lump sum payment at the completion of the deliverables.

 

The total amount quoted shall be all-inclusive and include all costs components required to perform the deliverables identified in the TOR, including professional fee, travel costs, living allowance and any other applicable cost to be incurred by the successful bidder in completing the assignment. The contract price will be fixed output-based price regardless of extension of the herein specified duration.

 

Payments will be done upon completion of the deliverables/outputs and as per below percentages:

 

Activities

 

Percentage of final contract

1

Developing and finalising FinEd framework. This includes as a minimum:

  • An environmental scan of FinEd learning within the current curriculum
  • Identifying the courses of integration
  • Finalising Financial Education learning outcomes
  • Observation of the current teaching, learning, resources used and assessment implemented within APTC.

15

2

Design of a detailed Financial Education learning outcomes matrix/framework with a strategy for introduction within APTC-approved areas of learning.

40%

3

APTC-approved structured financial literacy training module and assessment for candidates for Labour Mobility.

35%

4

Full report with detailed recommendations

10%

                                                  Total

100%

 

In general, UNDP shall not accept travel costs exceeding those of an economy class ticket. Should the consultants wish to travel on a higher class he/she should do so using their own resources

 

In the event of unforeseeable travel not anticipated in this TOR, payment of travel costs including tickets, lodging and terminal expenses should be agreed upon, between the respective business unit and the related consultant, prior to travel and will be reimbursed.

 

Evaluation Method and Criteria

Bids will be evaluated based on cumulative analysis. The award of the contract shall be made to the bidder whose offer has been evaluated and determined as a) responsive/compliant/acceptable; and b) having received the highest score out of set of weighted technical criteria (70%). and financial criteria (30%). Financial score shall be computed as a ratio of the proposal being evaluated and the lowest priced proposal received by UNDP for the assignment.

 

Technical Criteria for Evaluation (Maximum 70 points)

 

Criteria

 

Maximum points

1

The firm has a proven track record demonstrating over 5 years of similar work in other similar task environment relating to Financial Education, with specific focus on countries with low levels of financial literacy, such as the Pacific.

20

2

The identified consultants/specialists within the firm have over 5 years relevant expertise in Financial Education curriculum development, teacher and student resources and assessment development for secondary school age or mature students. 

20

3

The firm has over 5 years of experience in the development of educational teaching and learning frameworks for mature students in a formal education setting.

10

4

The firm has experience with financial education/financial literacy for mature students leveraging digital platforms.

10

5

At least one consultant/specialist has strong strategic planning, programme development and project management experience.

5

6

The firm has experience with training related to regional/national labour mobility schemes.

5

                                                                   Total

70

 

Only candidates obtaining a minimum of 49 points (70% of the total technical points) would be considered for the Financial Evaluation.

 

 

Documentation required

Interested bidders must submit the following documents/information to demonstrate their qualifications. Please group them into one (1) single PDF document as the application only allows to upload maximum one document:

  • Letter of Confirmation of Interest and Availability using the template provided in Annex II.
  • Personal CV or P11, for all consultants proposed indicating all past experience from similar projects, as well as the contact details (email and telephone number) of the Candidate and at least three (3) professional references for each consultant proposed.
  • Technical proposal, including:
  • a) a brief description of why the bidder considers itself as the most suitable for the assignment; and b) a methodology, on how they will approach and complete the assignment.
  • Financial proposal, as per template provided in Annex II. Note: Bids must quote prices in United States Dollars (USD). Travel must be separately itemized for ease of comparison.

 

Incomplete proposals may not be considered.

 

Annexes