Crescent Takaful Sacco Financial Management and Operations Systems Consultant

Mercy Corps

Crescent Takaful Sacco

Request for Proposal

Consultancy Services for Developing Financial Management, Accounting and Operations Systems for Crescent Takaful Sacco (CTS) – Financial Management and Operations Systems Consultant

A. Mercy Corps

Mercy Corps (MC) is a leading global humanitarian agency saving and improving lives in the world’s toughest places. In more than 40 countries, we partner with local people to put bold ideas into action, help them overcome adversity and build stronger communities. Now, and for the future.

Mercy Corps has been supporting CTS to establish and expand into Northern Kenya with a view to providing appropriate financial services to vulnerable communities in the region. To date this support has included financial and technical support that enabled CTS to open a branch in Wajir in November 2016.

Mercy Corps will continue to provide technical and capacity building support to CTS including the strengthening of their financial and administrative systems.

B. Crescent Takaful Sacco Society Limited (CTS)

CTS is the first Shariah-Compliant Savings and Credit Co-operative (SACCO) in Kenya and the greater East African Region.

CTS commenced operations on 17th December 2013. CTS’ primary objective is to increase financial inclusion among communities in the Arid-and Semi-Arid (ASALs) in Northern Kenya.

C. Objective

The primary objectives of this short-term consultancy is for the Financial Management and Operations Systems Consultant to support CTS with the following:

  1. Develop financial management, operations, procurement & human resource policies and procedures;
  2. Set up an efficient and integrated computer-based financial management system for CTS to enable its accounting and operations staff to deliver quality financial management and operational services;
  3. Produce up-to-date financial and other management reports as and when required;
  4. Train the CTS Senior Finance, Administration & Operations Officer and other CTS staff to strengthen their internal capacity to manage and operate the systems after the consultancy.

D. Scope of Work

The Consultant will review CTS financial management and accounting system module under Bankers Realm system, taking into account the specific needs of CTS business requirements and processes, to identify what is working well and which aspects of the system may need improvement and refinement.

Throughout his/her assignment, the Consultant is expected to build the capacity of CTS Wajir staff in financial management and accounting.

This includes intensive, on-the-job training of a to-be-recruited Senior Finance, Administration & Operations Officer.

Also, the consultant will review and update the accounting policy and procedures manual, develop procurement policy and procedures and HR manuals and train relevant staff within CTS on their implementation.

The specific sets of activities to be performed by the consultant are as follows:

1) Review, Recommend and Implement Accounting System Infrastructure

  • Prepare detailed definitions of accounts and their content
  • Prepare examples of journal entries with definitions for all transaction types
  • Design new data collection methods, related forms and electronic collection methods
  • Design system databases and data transfer systems
  • Program data input and data transfer systems
  • Implement accounting data collection, data entry and data transfer systems.

2) Design, Implement and Produce Financial Management Output Report

  • Based on recommendations from MC and CTS, design a set of financial and operational output reports to satisfy needs of CTS and MC
  • Obtain CTS and MC approval of proposed reports
  • Program the output reports
  • Test and debug system
  • Create model report sets for CTS and MC and set-up reporting schedule with due date for each report set
  • Obtain CTS and MC approval of reporting models and schedules

3) Design and Implement a Cash Flow Management System

  • Design a form for summarizing actual cash receipts and disbursements and cash flow
  • Incorporate recording of original estimates, current budgets and current forecasts on a quarterly basis (monthly if warranted)
  • Budgets and/or forecasts of expenditures for at least four future quarters
  • Calculate budgeted or forecasted quarterly cash requirements for next twelve months and initiate implementation of system.

4) Design and Implement Administrative System Financial Management Function

  • Establish set of mandatory computer system back-up policies
  • Design and implement centralized filing system for all accounting and financial management documents to support systems and Annual Audit needs
  • Establish and document procedures for ensuring security of project assets and appropriate use of funds for designated purposes
  • Assist with design of budgeting and forecasting system
  • Review and update the accounting policy and procedures manual

5) Coordination & Capacity Building

  • Work directly with CTS Microfinance Manager, MC’s Finance and Sub-grants Manager in the implementation of all above-mentioned activities,, ensuring application of and alignment with MC and CTS principles, procedures and operations;
  • Provide ongoing capacity building support for CTS members to ensure all stakeholders have good understanding of the system and its capabilities. Provide intensive, on-the-job training to the CTS Senior Finance, Administration & Operations Officer during the final weeks of the assignment

6) Develop procurement policy and procedures manual and train relevant staff within CTS

7) Develop Human Resource policy and procedures manual and train relevant staff within CTS.

E) Input Provided by Implementing Agency (CTS)

Aside from providing office space, CTS will provide the Consultant with administrative support including communication facilities (internet and use of office phone), and one accounting staff.

F) Expected Outputs

The following outputs are expected from the Consultant:

i) An inception report, specifying the methodology determining thereby the exact focus and scope of the exercise. The inception report should cover, but not limited to Cover, Table of Contents, Abbreviations and Acronyms, Introduction, Background and Context, Purpose and Scope of the consultancy, Methodology, Limitations to the consultancy, updated Work Plan, Logistics and Support
ii) An integrated financial management system in place and functioning and system training and user reference materials developed;
iii) A finance and accounting policy and procedures manual is reviewed, updated and presented
iv) A procurement policy and procedures manual is developed and presented
v) An HR policy and procedures manual is prepared and presented;
vi) The Senior Finance & Operations Officer’s ability to use the accounting and reporting system
vii) The Project Completion Report detailing results of the assignment in direct relation to the original terms of reference.

G) Implementation arrangements

The consultant will work in close collaboration with the CTS Micro Finance Manager, Senior Finance, Administration & Operations Officer (once on board).

S/he will report to the MC Finance and Sub-grants Manager.

S/he will be required to spend the entire assignment period on-site, in Wajir.

The Consultant must also commit to being available for remote consultation on an as-needed basis for six months following the official end of the consultancy period.

H) Assignment Period

The assignment will be for a period of two calendar months.

The performance of the consultant will be judged by the robustness and efficiency of the financial management system set up for CTS, procurement & HR policy manuals developed, and the SFAOO’s ability to use the accounting and reporting system.

I) Terms of Payment

A contract shall be signed between Mercy Corps and the Consultant.

The consultant shall be paid a lump sum amount of remuneration (withholding taxes as per Kenyan tax laws) for the entire project, which should include all his/her overheads, meals and incidentals, and other associated costs including local transportation within Wajir and insurance premium costs.

Additionally, Mercy Corps will provide the consultant with one return air ticket to Wajir from his/her location of residence within Kenya and accommodation on bed and breakfast at the organization’s preferred hotel in Wajir.

Payment to the consultant will be performance based with no less than 25% of the total budget withheld and paid only when CTS & Mercy Corps are satisfied that all outputs have been met and are of high quality standards.

Payments will be made according to the following schedule:

  • 10% on presenting and acceptance of inception report
  • 40% on presenting and acceptance of outputs (ii) & (iii)
  • 25 % on presenting and acceptance of outputs (iv) & (v)
  • 25 % on presenting and acceptance of outputs (vi) & (vii)

J) Qualifications and Experience Required

The Financial Management and Operations Systems Consultant should be a systems analyst with knowledge of accounting systems. Possess professional accounting qualification (CPA, ACCA or equivalent) and MBA is a requirement.

S/he should have a Bachelor’s degree in accounting, business, finance or economics, or related field from a recognized university and at least 10 years of direct relevant experience in operations and accounting systems development and financial management.

Candidates should have the following qualifications / skills / experience:

  • Demonstrated examples of analysis, design, and development of a finance and accounting system;
  • At least five (5) years working experience with standard system development methodologies;
  • Experience in systems release management to ensure full utilization of the system after the consultancy;
  • Demonstrated experience in working with micro-finance institutions/SACCOs finance, procurement and HR systems design and implementation
  • Experience and exposure to HR and procurement systems design and implementation
  • Knowledge of International Financial Reporting Standards and International Standards on Auditing;
  • Experience in internal control systems and procedures, with the ability to assess such systems and recommend remedial action where necessary;
  • Understanding of information systems and the application of new information technologies; and
  • Ability to communicate effectively, in writing and orally, in English and to hold discussions on substantive and difficult issues with CTS and Mercy Corps management.

K) Bid presentation

Please submit a proposal describing your interpretation of the Terms of Reference, your approach / method to handling the proposed assignment, workplan for the assignment, along with a budget / fee requirement and Curiculum Vitae (CV) that contains details of the interested individual in  undertaking the assignment.

Proposals should be submitted not later than 9th May 2017 to:

Only short listed candidates will be contacted.

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Updated: May 7, 2017 — 5:55 am