Vacancy title:
Senior Consultant to Select & Implement Digital Core Banking Solution

[ Type: FULL TIME , Industry: Consulting, Category: Banking]

Jobs at:
Inkomoko Rwanda

Deadline of this Job:
22 November 2022

Duty Station:
Within Rwanda , Kigali , East Africa


Summary
Date Posted: Wednesday, November 16, 2022 , Base Salary: Not Disclosed

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JOB DETAILS:
Senior Consultant to Select & Implement Digital Core Banking Solution
Inkomoko Rwanda
This RFQ was issued by Inkomoko to identify and select the right consultant to identify, purchase, and install a core banking solution for the Company’s loan fund, currently operating in three countries.

Company Overview
Inkomoko, with 220+ staff in 18 offices across Rwanda, Kenya and Ethiopia, is the largest lender to refugee entrepreneurs in Africa. Since 2012, we have provided training, consulting, access to finance, and market-level systems change to help 41,000 entrepreneurs, including refugees, across East Africa grow their businesses. By 2030, we will expand to 5 additional countries to serve more than 550,000 clients, and deploy a $30M USD investment fund to 110,000 borrowers.

What We Need/Current Challenges
We are seeking the services of a senior consultant with deep expertise in business analysis (to develop business requirements), digital banking and/or fintech to help us assess and select available core banking solutions (CBS), including open-source solutions, in the current market. Current top-runners include Mifos and T-24 as comparable systems.

Challenges for the company include:
• The current loan management system is too slow, lacks robust APIs, and has limited access to real-time data to streamline business operations (client, financial, and data)
• Managed as an ERP (Odoo), the system was not initially well designed and documented (through external consultant), and is not structured as a core banking system.
• The company does not have a dedicated business analyst with lending or fintech experience to develop business requirements/tech solutions for the loan team
• Inadequate database infrastructure for integration and data access across key business operations points (solution architecture is being re-designed)

Scope of Work
The selected Consultant will work with the IT Project Manager and loan staff to help the senior leadership select the right core banking solution that will meet the company’s needs now and be able to scale as we grow.

The Scope of Work will include:
Phase 1: Initiation Stage
• Review existing materials defining the business requirements and IT systems,
• Fill gaps of business requirements/IT needs by:
• Interview key internal stakeholders to understand business processes/systems
• Collaborate with IT group (and other departments as needed) to gather existing financial and investment data for business analysis
• Develop business requirements based on analysis of data gathered
• Develop CBS (software) requirements based on developed business requirements, in consultation with Inkomoko

Phase 2: Assessment and Selection
• Assessment of a variety of CBS available on the market, including open-source ones, detailing advantages, disadvantages and how it would fit Inkomoko’s business requirements developed in Phase 1
• Provide recommendation on which CBS is most appropriate for Inkomoko’s business needs, backing the recommendations with through analysis and user feedback from East African banks/MFI
• Review and propose vendors who can implement the chosen solution

Please note, any selection of a core banking system that meets the company’s business requirements for a more efficient lending process to micro/small businesses, including: payment integration through mobile wallet/banking
• Access to accurate, real-time financial data to inform internal business operations, including cash flow management
• CBS integration with current ERP system (Odoo), enabling more efficient financial data integration and reporting across different financial operations, i.e. between accounting/finance and investment, data integration and more efficient reporting across key client engagement points: recruitment, business-skill training, investment due diligence, loan disbursement, loan repayment, and impact learning/measurement, etc.

Phase 3: Implementation
• Manage vendor on behalf of Inkomoko to ensure appropriate configuration of CBS for Inkomoko, covering both initial deployment phase and subsequent phase (e.g. additional sprints) to customize key functionalities/features (e.g. mobile interface, data access, reporting, etc.)
• Oversee implementation through at least the testing phase of CBS with real clients at 2 different locations where Inkomoko operates
• Continue to monitor progress for a period of three months to ensure CBS is operationally stable

Deliverables include:
Consultant Selection Metrics
A successful consultant will demonstrate the following criteria at a minimum:
• Previous hands-on experience driving adoption of CBS, with focus on ‘back end’ data management systems and how it fits into overall solution architecture of company
• At least 5 years of experience with business analysis, digital banking and fintech
• At least 3 years of micro finance experience, i.e. micro/small businesses, in Africa or in other developing markets
• Competitive pricing
• Ability of complete project within 4 months

Submission requirements
Please submit the following in a proposal (in PDF format in 5 pages or less) by no later than 18 November 2022 at 5pm CAT.
• Description of firm or individual consultant, including names and credentials of key individuals who would implement the scope
• Outline of firm’s core expertise in business analysis, digital banking and fintech
• Description of similar projects completed in last 5 years, especially those in East Africa
• List of 2-3 references and/or testimonials of previous clients
• Proposed timeline and methodology to complete the scope above, broken down into the three phases
• Fee structure and pricing for the project in USD, broken down by the three phases above
• Contact information


Job Experience: No Requirements

Work Hours: 8

Level of Education: Bachelor Degree
Job application procedure
For any other information please write to recruitment@inkomoko.com

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