RMI - Payments System Advisor

What the buyer is asking for

Request for Expressions of Interest (INDIVIDUAL CONSULTING SERVICES) Payments System Advisor to the Monetary Authority of the Marshall Islands (MAMI) Project Name Pacific Strengthening Correspondent Banking Relationships Project Project Number P502591 https://projects.worldbank.org/en/projects-operations/project-detail/P502591 Activity and Reference Number (STEP) Payments System Advisor FJ-PIFS-567205-CS-INDV Implementing Agency Names Pacific Islands Forum Secretariat Country FIJI The Pacific Islands Forum Secretariat (PIFS) and seven Pacific Island member countries (Fiji, Kiribati, Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu) have received financing (grants and credits) from the World Bank Group’s International Development Association (IDA) towards the Pacific Strengthening Correspondent Banking Relationships Project (the Project) and will apply part of these proceeds to the contract below for Consulting Services. PIFS is seeking a qualified and experienced Payments System Advisor to provide technical advisory support to the Monetary Authority of the Marshall Islands (MAMI). The Advisor will assist with the establishment of a safe, efficient, inclusive, and scalable national payments system and oversight function, aligned with the CBR Project, the CBR Roadmap, regional harmonization work, and the emerging Pacific Payment Mechanism (PPM). The Advisor will work closely with MAMI, PIFS, the World Bank, IMF, and other technical assistance providers to translate IMF recommendations into practical implementation steps for RMI. This is a time-based individual consultant assignment for up to twelve (12) months, with up to 240 working days of input, requiring significant in-country presence in Majuro (50–60% of input days). Scope of Services Under the overall direction of the Project Coordinator, the Payments System Advisor shall undertake the following activities: Review IMF recommendations and prepare a 12month implementation roadmap for MAMI’s payments function. Advise on operational setup of payment operations and oversight divisions. Support development of a National Payments Strategy and stakeholder consultations. Provide technical inputs on payment infrastructure modernization, including phased implementation of an Integrated Payment and Clearing System (IPCS). Support payment system oversight, risk-based supervision, and data collection. Assist with stakeholder coordination and establishment of a National Payment Council. Align RMI’s work with regional harmonization initiatives and the CBR Project’s Component 2 activities. Deliver training, mentoring, and knowledge transfer to MAMI staff. Mandatory Criteria Education A master’s degree in economics, finance, law, public policy, payment systems, information systems, business administration, or a related field. A PhD or advanced professional qualification is preferred. Experience Minimum of 10 years of experience in payment systems, financial market infrastructures, central bank payment operations, payment system oversight, digital financial services, remittances, cross-border payments, or correspondent banking. Evaluated Criteria: Evaluated Criteria Points Demonstrated experience in developing and implementing national payment systems strategies and oversight frameworks 30 Experience advising central banks or monetary authorities on payment infrastructure modernization 30 Familiarity with international standards (CPMIIOSCO Principles, ISO 20022, risk-based supervision) 20 Experience in stakeholder consultation and coordination across government, financial institutions, and payment service providers 20 PIFS, on behalf of the participating member countries, now invites eligible individuals (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (attach curriculum vitae and a cover letter…