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SHORT-TERM CONSULTANCY OPPORTUNITY
For: Improvement of a framework for on-line operations of Ukrainian credit score unions in accordance with relevant Ukrainian legal guidelines and laws
Location: Kyiv, Ukraine
Contract period: January 01, 2021 – March 31, 2021
Submit by: January 15, 2021
- BACKGROUND
The Credit score for Agriculture Producers (CAP) Venture, applied by World Council of Credit score Unions (WOCCU) and funded by USAID, seeks to revitalize the credit score union sector in Ukraine by making a extra clear authorized and regulatory framework for credit score union operations in Ukraine to each promote progress and scale back dangers, whereas enhancing entry to finance for agricultural and rural micro, small, and medium enterprises by credit score unions.
- SCOPE OF WORK
World Council of Credit score Unions (WOCCU) is presently looking for a guide to assist the event of on-line operations inside credit score unions (e.g membership functions, mortgage disbursements/funds, deposits/withdrawals, month-to-month installments, online-tranche inside pre-approved credit-line).
The guide will develop a framework for on-line operations of Ukrainian credit score unions in accordance with relevant Ukrainian legal guidelines and laws. Particularly, the guide will:
- Perform a authorized and regulatory evaluation of necessities for on-line mortgage and deposit operations, together with suggestions for danger mitigation
- Establish and develop templates of agreements with third events required to implement on-line operations of credit score unions
- Present suggestions on regulatory compliance relating to the mapping of personal particular person’s sequencing on web sites for particular situations:
The framework shall be primarily based on a deep evaluation of the next Ukrainian Legal guidelines:
- On Credit score Unions
- On electronical entrustment companies
- On electronical paperwork and electronical doc circulate
- On e-commerce
- On monetary companies and provision of economic companies
- On client rights safety
- On cost programs and cash transfers in Ukraine
- On Nationwide financial institution of Ukraine
- On private knowledge safety
In addition to:
- Civil Code of Ukraine
- Different eligible legal guidelines, bylaws or laws of state authorities/regulators together with NBU regulation №107 and so forth.
Exercise 1: Authorized and Regulatory Evaluation
- Study the present necessities of all eligible public authorities and analyze the authorized framework of Ukraine for on-line mortgage and deposit operations
- Suggest a mannequin throughout the present authorized and regulatory framework to allow credit score unions to hold out the operations on-line:
- Distant identification of potential credit score union members utilizing current companies and fashions of digital distant identification out there to non-banking monetary establishments (compulsory for evaluation of such companies as Financial institution ID, Diya ID, necessities for picture & video identification utilizing liveness detection technique; certified digital signature technique)
- Mortgage disbursement and placement of funds on deposit accounts for brand spanking new credit score union members (not recognized but)
- Mortgage disbursement and placement of funds on deposit for present (recognized) credit score union members (new loans and tranches inside earlier permitted credit score traces)
- Present a authorized danger evaluation and suggestions for danger mitigation for distant digital settlement signature fashions when:
- Utilizing digital signature by one-time-password
- Utilizing digital signature equal to genuine autographic signature
- Utilizing digital digital signature by all events of digital settlement
Exercise 2: Improvement of Settlement templates
- Establish and develop templates of cooperation agreements with third events required to implement on-line operations of credit score unions:
- With suppliers of companies of digital identification (as an example, Built-in system of digital identification)
- With credit score historical past bureau (if a borrower recognized remotely)
- Elaborate suggestions and lists of minimal necessities primarily based on regulatory requirements and market finest practices regarding:
- Compulsory parts of on-line functions on credit score union web sites for loans, tranches, and deposits placement
- Compulsory parts and construction of private on-line accounts entry “cupboard”/private account interface (through login body)
- Template of public supply on web sites containing normal necessities and contracts, and guidelines of companies supplied by credit score unions
- Private knowledge disclosure phrases (together with collectors and credit score historical past bureau)
- Different compulsory consent types required by laws from credit score union members to be taken on-line through web site of a union (PEP, AML questionnaire and so forth.)
- Improvement of required templates of agreements and buyer paperwork with:
- a brand new credit score union member which is signed remotely (utilizing digital digital signature or OTP digital signature)
- a brand new borrower which is signed remotely together with settlement for guarantors (utilizing digital digital signature or OTP digital signature)
- a present borrower making use of for a brand new mortgage or for the following tranche inside pre-approved credit score line which is signed remotely together with surety settlement template (utilizing digital digital signature or OTP digital signature)
- a brand new depositor which is signed remotely (utilizing digital digital signature or OTP digital signature)
- A present member keen to deposit funds on-line
Exercise 3: Regulatory compliance suggestions for buyer mapping
- Present basic suggestions about compliance with regulatory necessities relating to mapping of personal particular person’s sequencing on web site for 5 fundamental situations:
- Buyer journey on web site from distant identification to membership standing finalization
- Buyer journey on web site from distant identification to mortgage disbursement to checking account of a borrower
- Buyer journey on web site from distant identification to deposit placement by credit score union member
- Buyer journey of recognized present member on web site making use of for brand spanking new mortgage or the following tranche inside credit score line
- Buyer journey of recognized present member on web site making use of for deposit placement
- Present suggestions relating to Inner insurance policies and procedures of credit score unions on doc circulate, and packaging of paperwork required for identification of members -borrowers-depositors.
- REQUIREMENTS
For specialists
The specialists’ {qualifications} ought to meet the next necessities:
- Native experience;
- Juridical larger schooling and (optionally) financial larger schooling (banking, finance, financial cybernetics, and so forth.);
- Expertise in management positions in specialised establishments associated to banking, monetary sector or authorized advisory;
- Confirmed expertise in on-line lending merchandise for personal people / cost merchandise / on-line retail buyer care merchandise growth as a authorized advisor, product proprietor, mission chief at monetary establishment or financial institution;
- Strongly most well-liked:
- latest employment and direct participation in profitable product launch and additional growth at TOP-10 non-banking microfinance establishments or fintech or transactional enterprise firms. Names of firms and checklist of applied companies (merchandise) should be disclosed within the software.
For firms/organizations
- Native experience;
- Skilled advisors or consulting companies associated to authorized assist of banking, finance, monetary know-how/info safety, and so forth.;
- Crew members to fulfill necessities as specified above.
- Strongly most well-liked:
- direct participation at profitable product launch and additional growth at TOP-10 non-banking microfinance establishments, fintech or transactional enterprise firms. Names of firms and checklist of applied companies (merchandise) need to be disclosure within the software.
- TIMING
The preliminary consultancy will happen between 25 January, 2021 – 31 March 2021. The anticipated deliverables for Actions 1-Three are anticipated to be supplied by 22 February 2021.
- DELIVERABLES
- Authorized evaluation which has to incorporate the ultimate analytical report on the regulatory framework and suggestions for credit score unions relating to fashions and dangers of distant identification and digital signatures (in Ukrainian).
- Templates of agreements with 3rd events (for function of distant identification) and agreements with new and present members / debtors / depositors / guarantors
- Template of public supply on web sites containing standardized contract’s phrases and situations, guidelines of companies supplied by credit score unions
- Packaging of compulsory paperwork, questionaries’ and consent types to be signed and brought from prospects.
- Suggestions abstract on Inner insurance policies and procedures of credit score unions on doc circulate
- Feedback relating to sequencing of buyer actions on web site within the means of distant identification, mortgage disbursement and deposit allocation in accordance to Exercise Three description (description of fundamental business-processes and buyer journey shall be supplied by the mission group to the knowledgeable for evaluation by the mission group).
- Government abstract in English.
- SUBMISSION REQUIREMENTS
To use, please submit the next to programsupport@woccu.org and specify “CAP: On-line CU Operations” by 15 January, 2021.
- A duplicate of your CV or details about firm and CV of specialists;
- Proposal together with a canopy letter detailing why you are able to do the work, together with your related work expertise, in addition to your strategy/preliminary work plan to handle the duties;
- Proposed pricing proposal with charges damaged down by every exercise;
- Ought to your software be chosen for consideration, WOCCU will request contact info for 2-Three references;
- When making use of, please present the indicative anticipated remuneration for the mission execution – that is obligatory info.
DISCLAIMER
This bid solicitation under no circumstances obligates World Council of Credit score Unions to award a contract, nor does it commit World Council of Credit score Unions to pay any prices incurred within the preparation and submission of the appliance. World Council of Credit score Unions reserves the proper to fluctuate any a part of this bid solicitation on the time of award if it turns into needed.
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