Contract Type/Period: Lump-Sum to 31 December 2022
Selection Method: Individual Consultant Selection (INDV)
The Pacific Catastrophe Risk Insurance Company has received financing from the World Bank toward the cost of the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI): Furthering Disaster Risk Finance in the Pacific (P161533) and intends to apply part of the proceeds for these services.
The Pacific Catastrophe Risk Insurance Company now invites eligible individuals 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.
The attention of interested firms is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2017, Revised August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest
Interested consultants are also required to confirm their eligibility to contract with World Bank grant funded procurement activities and agreement to comply with World Bank’s policy regarding Fraud and Corruption should they be asked to present a technical and financial proposal.
Background PCRAFI Insurance Program
The PCRAFI insurance program provides climate and disaster risk insurance to member countries in the Pacific region. Its primary aim is to provide a quick injection of cash to help participating governments deliver relief efforts as quickly as possible after a disaster. The PCRAFI insurance program provides parametric earthquake and tropical cyclone insurance solutions that increase the financial response capacity of Pacific Island Countries, helping them to meet post-disaster funding needs without compromising their fiscal balances and development. The insurance provides cash payouts to insured governments within 10 working days after a qualifying disaster event.
Following a successful pilot of the PCRAFI Insurance Program, the PCRAFI Facility was established by legal statute in the Cook Islands on June 10, 2016, to provide the insurance program to Pacific Island Countries (PICs) going forward. The PCRAFI Facility was established as the Pacific Catastrophe Risk Insurance Foundation (PCRIF) that own a group captive insurer, the Pacific Catastrophe Risk Insurance Company (PCRIC). As the PCRIC is being operationalized a series of initial arrangements have been made to enable the commencement of key operations, including the appointment of a Board of Directors, key service provider contracts and establishment of fully operational captive insurance facility in the Cook Islands.
Assignment Description
PCRIC is looking for a replacement M&E Specialist/Expert with strong Pacific regional expertise and networks to lead the M&E work for PCRIC and the PCRAFI project. Under the immediate supervision of the Chief Executive Officer, the M&E Specialist will perform the following tasks:
Lead the implementation of PCRIC’s Monitoring and Evaluation Framework and execution of the M&E Plan
- Review and refine PCRIC’S M&E plan to accommodate the project extension to December 2022 aligned to the existing M&E framework and approved results indicators.
- Track and report on the progress of the PCRIC M&E framework in consultation with PCRIC Board and Management, PCRIF Council Members, and the World Bank.
- Develop guidelines and templates for seasonal monitoring and reporting and train the Management Team and PCRIF members on how to use them.
- Assist PCRIC and PCRIF to implement the M&E framework, guidelines, and other tools
- Enhance the internal visibility of the M&E function and deliverables through quarterly reporting to the Board on the progress of the M&E framework’s secondary indicators.
- Take responsibility for reporting of project/company reviews and assessments.
- Organize and coordinate World Bank project implementation support missions.
- Review PCRIC’s gender reporting requirements.
Conduct capacity building of PCRIC Staff on M&E and foster a learning and evaluation culture in the Company
- Review the internal training needs for PCRIC and develop a recommended training plan.
- Develop an appropriate training package and learning materials in consultation with PCRIC and key stakeholders.
- Organize M&E capacity building training sessions with PCRIC staff where necessary to minimize M&E capacity gaps within the company.
- Facilitate reflection and learning meetings and workshops with PCRIC staff and partners to share key achievements, lessons learned, adaptive strategies and areas of improvements.
- Review the M&E section of the Project Operations Manual and recommend changes as appropriate.
- Lead on the collaboration and coordination with key stakeholders on monitoring and evaluation issues.
- Take responsibility for the promotion of evaluation standards, quality assurance/control and capacity development in the Company
- Represent PCRIC on any monitoring and evaluation matters with key partners and stakeholders.
Assist member states in the development of Post-Event Payout Reports after insurance payouts
- Conduct a basic needs assessment with key stakeholders (including PIC Governments and donors) and make recommendations on changes to the reporting template and supporting guidance material.
- Assist PICs on how to put together key information for credible post-event reports.
- Ensure PICs produce this report within six months following disbursements from PCRIC.
- Where necessary travel to the country to work with relevant government counterparts and take stock of the disaster and relief/rehabilitation efforts.
- Support recipient countries in the presentation of reports to the Council of Members
- Facilitate a lesson learned workshop with PICs recipient countries and PCRIC on the post-event pay-out process and gather lessons to make the process better for the future.
- Coordinate with PCRIC’s Communications Firm on ensuring a publishable version of any report can be created and published on the PCRIC website and distributed via other channels.
Prepare Bi-Annual Progress Reports of the PCRAFI Project
- Review the current Bi-Annual Progress Report Template/Process and hold discussions with the World Bank team on preparation & planning required to ensure useful reports and presentations are available during Implementation Missions from the World Bank
- Lead and facilitate PCRIC in compiling periodic progress data
- Lead the compilation and development of bi-annual progress reports as required using the results indicators data and feedback from the PCRIC Management Team and PICs
- Work closely with Finance, Investment and Insurance Managers to include financial narrative reporting to the bi-annual and annual progress reports in a manner distinguishable from a financial audit.
- Monitor for future M&E reporting requirements in order to incorporate emerging needs.
- Attend any development workshop to enhance reporting and the M&E function as recommended by the World Bank and other PCRIC partners.
Support Annual Reporting Requirements
- Contribute to PCRIC’s annual report.
- Review the reporting requirements for the InsuResilience Programme and ensure alignment of reporting definitions with global best practice.
- Lead the annual reporting for the Insuresilience Programme.
Plan and prepare the Project Completion Report for the PCRAFI Project
- Define the requirements for the project completion report including reporting templates, stakeholder interview lists, data and information requirements.
- Conduct evaluation missions to identified PICs as required to collect needed information and work with stakeholders on inputs.
- Prepare the final reports for feedback, finalization and submission, utilizing PCRIC’s available marketing and communications support to produce a report to a publishable standard.
- Support any required presentation of the report to key stakeholders (Council of Members, World Bank, other key parties).
Support the communication and visibility of PCRIC’s results within the Company and the Region
- Work closely with the Communications Team to enhance communication and visibility of PCRIC’s achievements, key highlights, best practices, and lessons learned.
- Facilitate collaborations and exchanges between PCRIC and PICs as a means of sharing progress and mutual learning.
Perform other tasks assigned by the CEO or Board
- The incumbent will perform other technical and advisory work as assigned by the CEO and Board of PCRIC insofar as these relate to the core M&E functions.
- Attend Management and Board Meetings as required.
- Prepare monthly update for the CEO Report on Progress and Priorities against the M&E plan.
- Prepare quarterly report for Board meeting on Progress and Priorities against the M&E plan.
Supervision & Reporting
The Consultant will work alongside PCRIC management and will provide the deliverables to the Board via the CEO.
Location
The Consultant is expected to work remotely. If required the consultant is expected to travel to the Pacific Island Countries, once COVID-19 restrictions are lifted, and at times agreed with the PCRIC CEO.
Performance indicators for evaluation of results
The evaluation of results will be based on the quality of work and the timely submission of the final outputs in line with the requirements.
Intellectual Property
All information pertaining to this assignment, which the Consultant may come into contact within the performance of the assigned duties under this assignment shall remain the exclusive property of PCRIC.
All materials developed by the Consultant on behalf of PCRIC shall also remain the property of PCRIC and can only be used if permission is sought and granted in writing.
Selection requirements
The M&E Specialist will have a graduate qualification in development economics, social science, or other related fields, with at least 7 years of relevant background and experience in M&E of development projects. Experience in the Pacific Region is strongly preferred. The candidate must have demonstrated experience in designing and implementing M&E systems for a multi-faceted project and/or organization.
Candidates should understand financial performance reporting, including familiarity with basic accounting principles and reporting (can read a Profit & Loss Statement and Balance Sheet).
Candidate must be fluent in spoken and written English.
Timetable
The period of this assignment is until December 2022, with an estimated schedule of outputs as follows:
Outputs | Approximate Completion date |
Contract signing | December 01st, 2021 |
Commencement of Contract | December 06th , 2022 |
Completion of Contract | December 31, 2022 |
Payment Schedule
The maximum budget for the entire assignment is US$130,250. Payments will be made against delivery of key outputs as follows:
· PCRAFI/PCRIC M&E Framework Implementation Work Plan (within a month of appointment)
· Updated M&E Section to the Project Operations Manual and finalized templates for progress reports, payout reports and the completion report (within two months upon appointment) |
30% of contract value |
· PCRAFI/PCRIC M&E Progress Reports, Biannual Reports, in advance of World Bank Implementation Missions (As per timeframe discuss with the CEO)
· Satisfactory delivery of all regular reports for CEO and Board which are due between contract signature and June 30, 2022. (As per discuss with the CEO) |
30% of contract value
|
· Satisfactory delivery of all regular reports due between July 1 and December 31, 2022 (see above)
· Satisfactory delivery of the Project Completion Report. · Satisfactory delivery of all other deliverables required as per these ToRs (see Assignment Description & Key Deliverables above). |
40% of contract value
|
Note: If further restrictions are introduced to combat coronavirus/COVID-19 (restrictions on air travel and travel in general, entry restrictions, quarantine measures, etc.), PCRIC and the Firm are obliged to make adjustments to their contractual services to reflect the changed circumstances on the basis of good faith; this may involve changes to the service delivery period, the services to be delivered and, if necessary, to the remuneration.
Note on items that should be included in the Expression of Interest.
The procurement method for this activity follows the World Bank procurement regulations for “Individual Consultant Selection”. EOI’s should provide enough information to allow the individual most qualified for the job to be identified, but full costing or details of the activity are not required at this stage. PCRIC will then invite the preferred candidate to submit a technical/financial proposal for negotiation.
EOIs may be submitted via email. While EOIs are to be brief, the following information should be included for use by PCRIC in assessing an individual’s ability to meet the requirements of the contract:
- Full contact details
- CV’s, including qualifications, experience and references
- Basic information on costing/consulting fees
- Brief overview of current/past assignments, preferably of a similar size scope/seniority
- Declaration of any potential conflicts of interest
- Confirmation of eligibility to apply for World Bank funded contracts
It is not necessary to provide a detailed proposed approach or fee as part of the EOI. A shortlist will be identified, and interviews held and the preferred candidates will then be asked to present a technical and financial proposal for services.
Contact
For further information please contact us at the address below:
Aholotu Palu, CEO, PCRIC
Contract Type/Period: Time Based Contract to 31 December 2022
Selection Method: Individual Consultant Selection (INDV)
The Pacific Catastrophe Risk Insurance Company has received financing from the World Bank toward the cost of the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI): Furthering Disaster Risk Finance in the Pacific (P161533), and intends to apply part of the proceeds for these services.
The Pacific Catastrophe Risk Insurance Company now invites eligible Individuals/Consultants to indicate their interest in providing the Services. Interested Individuals/Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services.
The attention of interested firms is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2017, Revised August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest
Interested consultants are also required to confirm their eligibility to contract with World Bank grant-funded procurement activities and agreement to comply with World Bank’s policy regarding Fraud and Corruption should they be asked to present a technical and financial proposal.
Background PCRAFI Insurance Program
The PCRAFI insurance program provides climate and disaster risk insurance to member countries in the Pacific region. Its primary aim is to provide a quick injection of cash to help participating governments deliver relief efforts as quickly as possible after a disaster. The PCRAFI insurance program provides parametric earthquake and tropical cyclone insurance solutions that increase the financial response capacity of Pacific Island Countries, helping them to meet post-disaster funding needs without compromising their fiscal balances and development. The insurance provides cash payouts to insured governments within 10 working days after a qualifying disaster event.
Following a successful pilot of the PCRAFI Insurance Program, the PCRAFI Facility was established by legal statute in the Cook Islands on June 10, 2016, to provide the insurance program to Pacific Island Countries (PICs) going forward. The PCRAFI Facility was established as the Pacific Catastrophe Risk Insurance Foundation (PCRIF) that own a group of captive insurer, the Pacific Catastrophe Risk Insurance Company (PCRIC). As the PCRIC is being operationalized a series of initial arrangements have been made to enable the commencement of key operations, including the appointment of a Board of Directors, key service provider contracts and establishment of a fully operational captive insurance facility in the Cook Islands.
Assignment Description; RESPONSIBILITIES OF THE REGIONAL COORDINATOR
The Key responsibilities of the Regional Coordinator are:
- Developing a clear strategy and plan for the implementation of a Technical Assistance (TA) program across the region
- Coordinating and driving the DRFI work as part of the regional resilient development agenda in the Pacific from PCRIC’s perspectives and in line with recent FEMM directives to the PIFS.
- Providing advice on and coordinating policy dialogue on DRFI as part of the resilience agenda with relevant national and regional decision-making bodies.
- Organizing and supporting the implementation of the TA program with PIFS such as developing information and knowledge exchanges, coordinating peer-to-peer learning activities, and internship program on the resilience agenda.
- Conducting outreach to and communication with the PICs, with national and regional organizations dealing with DRFI and resilience, as well as bilateral, regional and international agencies.
- Representing PCRIC and where necessary PIFS and participating in inter-regional exchanges/fora/events.
- Providing guidance on regional DRF activities to members and non-member countries via the CEO.
Assignment; SCOPE OF SERVICES
Component 1: Development of the PCRIC Technical Assistance Strategy and Programme
- Review of Technical Assistance needs within the region
- Development of a Technical Assistance Strategy
- Development of a Technical Assistance Programme Plan
Component 2: Implementation of PCRIC Technical Assistance Programme
- Development of Technical Assistance Programme supporting materials and collateral
- Delivery of specific Technical Assistance Programme elements (workshops, seminars, online learning, etc. as defined in the programme plan)
Component 3: Coordination with Regional Stakeholders:
- Proactively develop and maintain relationships with key decision-making bodies at national and regional levels;
- Foster and coordinate opportunities and messages for policy advice to PIFS and PCRIC management, and promote dialogue between countries, organizations and decision-making bodies at the national and regional level;
- Provide support to bilateral, regional and international agencies to implement the PCRIC’s TA program;
- Serve as a regional reference body for the DRFI and resilience agenda for countries, regional and international organizations and development partners and provide guidance to countries on maximizing access to resources and funds to support the national resilient development agenda.
Component 4: Advocacy and Communications:
- Provide efficient communication between key stakeholders involved in DRFI and resilient development;
- Provide input into company communications and marketing collateral and materials and support development of communications messages
Ensure that national and regional agencies and key partners understand and apply key messages of the resilience agenda including learning from national and regional programs and research; - Support countries to actively participate in discussions, meetings, conferences, workshops and training on the resilience agenda to ensure that outcomes from national deliberations and advocacy inform global and regional level discussions, including the application of policy analysis from the national level.
Component 5: Leadership Support to the CEO:
- Provide leadership, coordination and guidance on all matters pertaining to regional engagement and the effective implementation of the TA Program with the support of the PIFS in accordance with procedures and obligations specified in the PCRAFI project.
- Support the PCRIC CEO and wider business on matters related to the leadership and management of the company
Supervision & Reporting
The Consultant will work alongside PCRIC management and will provide the deliverables to the Board via the CEO.
Location
The Consultant is expected to work remotely. If required the consultant is expected to travel to the Pacific Island Countries, once COVID-19 restrictions are lifted, and at times agreed with the PCRIC CEO.
Performance indicators for the evaluation of results
The evaluation of results will be based on the quality of work and the timely submission of the final outputs in line with the requirements.
Intellectual Property
All information pertaining to this assignment, which the Consultant may come into contact within the performance of the assigned duties under this assignment shall remain the exclusive property of PCRIC.
All materials developed by the Consultant on behalf of PCRIC shall also remain the property of PCRIC and can only be used if permission is sought and granted in writing.
Selection requirements: QUALIFICATION AND EXPERIENCE REQUIREMENTS
The Regional Coordinator must have extensive knowledge in both:
- governance and institutional arrangements at the regional (Pacific) level; and
- disaster risk finance and management strategic planning at national and regional levels.
The following are the minimum requirements:
ESSENTIAL QUALIFICATION AND KNOWLEDGE/EXPERIENCE:
- Advanced University Degree in economics, finance, political science, international development, political science, law or discipline relevant to disaster risk management/finance and/or climate change finance,
- At least 10 years of experience in strategic planning with demonstrated high-level analytical skills.
- Demonstrated experience in developing regional frameworks for development operations funded by international agencies with a preference for disaster and climate risk management and/or disaster risk finance and other development issues at regional and national levels;
DESIRABLE QUALIFICATION AND KNOWLEDGE/EXPERIENCE:
- Experience with international funding agencies and World Bank guidelines and procedures (i.e., procurement, financial reporting and management etc.).
Key Skills/Attributes/Job Specific Competencies:
Expert level |
|
Advanced level |
|
Working knowledge |
|
Awareness |
|
DURATION OF ASSIGNMENT
The estimated contract duration for the assignment will through to 31 December 2022. During the duration of the assignment the Regional Coordinator will be based in the offices of PIFS in Suva, Fiji.
TIMETABLE
Outputs | Approximate effective and completion dates |
---|---|
Applications Close | 20th December 2021 |
Contract signed | 17th January 2022 (estimated) |
Contract Commenced | 17th January 2022 (estimated) |
Contract Completion | 31st December 2022 |
IMPLEMENTATION ARRANGEMENTS
The Regional Coordinator will sit with and work in close collaboration with the Resilience Team at PIFS under the oversight of the Programmes and Initiatives Department. The coordinator will also need to work closely with the SPC technical team, and the regional platforms established to support PIFS co-ordinational roles in DRF as mandated by the FEMM.
REPORTING OBLIGATIONS
The Regional Coordinator will jointly report to the CEO of PCRIC and the PIFS Director of Programmes & Initiatives in accordance with the approved TA work program, and the monitoring of implementation of the main tasks described in the TA work as well as any information relevant to allow for their performance evaluation.
DATA, SERVICES, PERSONNEL AND FACILITIES TO BE PROVIDED BY THE CLIENT
PIFS will provide to the Regional Coordinator office space, including office furniture, access to IT equipment, stationery, internet, communications (phone and fax) and all related utilities required. PCRIC will pay for the Coordinator’s IT requirements and stationeries.
The Regional Coordinator is fully responsible for the cost of local transportation (to/from the Office). If required to travel to the beneficiary countries, travel costs will be covered by PCRIC if approved in advance by the CEO.
Payment Schedule
This assignment will be undertaken as a time-based fixed term contract.
Fees will be paid monthly on submission of an invoice and deliverable acceptance form and approval by the PCRIC CEO.
Some travel is anticipated for this role, and if required the Regional Coordinator is expected to travel to other Pacific Island countries, at times agreed with the PCRIC CEO. Suitable expenses will be paid in full in accordance with PCRIC policies.
Reimbursement for other reimbursables needs to be agreed in advance and supported by valid invoices/receipts.
Note: If further restrictions are introduced to combat coronavirus/COVID-19 (restrictions on air travel and travel in general, entry restrictions, quarantine measures, etc.), PCRIC and the Firm are obliged to make adjustments to their contractual services to reflect the changed circumstances on the basis of good faith; this may involve changes to the service delivery period, the services to be delivered and, if necessary, to the remuneration.
Note on items that should be included in the Expression of Interest.
The procurement method for this activity follows the World Bank procurement regulations for “Individual Consultant Selection”. EOI’s should provide enough information to allow the individual most qualified for the job to be identified, but full costing or details of the activity are not required at this stage. PCRIC will then invite the preferred candidate to submit a technical/financial proposal for negotiation.
EOIs may be submitted via email. While EOIs are to be brief, the following information should be included for use by PCRIC in assessing an individual’s ability to meet the requirements of the contract:
- Full contact details
- CV’s, including qualifications, experience and references
- Basic information on costing/consulting fees
- Brief overview of current/past assignments, preferably of a similar size scope/seniority
- Declaration of any potential conflicts of interest
- Confirmation of eligibility to apply for World Bank funded contracts
It is not necessary to provide a detailed proposed approach or fee as part of the EOI. A shortlist will be identified, and interviews held, and the preferred candidates will then be asked to present a technical and financial proposal for services.
Contact
For further information please contact us at the address below:
Aholotu Palu, CEO, PCRIC
Contract Type/Period: Time Based Contract to 31 December 2022
Selection Method: Individual Consultant Selection (INDV)
The Pacific Catastrophe Risk Insurance Company has received financing from the World Bank toward the cost of the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI): Furthering Disaster Risk Finance in the Pacific (P161533), and intends to apply part of the proceeds for these services.
The Pacific Catastrophe Risk Insurance Company now invites eligible Individuals/Consultants to indicate their interest in providing the Services. Interested Individual/Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services.
The attention of interested firms is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2017, Revised August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest
Interested consultants are also required to confirm their eligibility to contract with World Bank grant funded procurement activities and agreement to comply with World Bank’s policy regarding Fraud and Corruption should they be asked to present a technical and financial proposal.
Background PCRAFI Insurance Program
The PCRAFI insurance program provides climate and disaster risk insurance to member countries in the Pacific region. Its primary aim is to provide a quick injection of cash to help participating governments deliver relief efforts as quickly as possible after a disaster. The PCRAFI insurance program provides parametric earthquake and tropical cyclone insurance solutions that increase the financial response capacity of Pacific Island Countries, helping them to meet post-disaster funding needs without compromising their fiscal balances and development. The insurance provides cash payouts to insured governments within 10 working days after a qualifying disaster event.
Following a successful pilot of the PCRAFI Insurance Program, the PCRAFI Facility was established by legal statute in the Cook Islands on June 10, 2016, to provide the insurance program to Pacific Island Countries (PICs) going forward. The PCRAFI Facility was established as the Pacific Catastrophe Risk Insurance Foundation (PCRIF) that own a group captive insurer, the Pacific Catastrophe Risk Insurance Company (PCRIC). As the PCRIC is being operationalized a series of initial arrangements have been made to enable the commencement of key operations, including the appointment of a Board of Directors, key service provider contracts and establishment of fully operational captive insurance facility in the Cook Islands.
Assignment Description
The PCRIC Finance & Planning Manager will be responsible for the execution of the following functions under the direction of the CEO:
Strategy, Planning and Budgeting
- Maintain the PCRIC Strategic Plan as required by the CoM and Board and ensure annual reviews and revisions are undertaken as requested. Facilitate the preparation of a new strategic plan if requested by the Board.
- Prepare the Annual Business Plan and Budget under the direction of the CEO for approval by the Board as required
Financial Management Responsibility
Oversee the delivery of day-to-day financial management in compliance with company financial policy and procedure, adopted by the Board, and the Risk Register, including:
Coordinating with financial management support services of the Insurance Manager to ensure that operational requirements are fully implemented in accordance with the approved budget and Company’s fiduciary procedures and policies.
Attending Board meetings, and other stakeholder meetings as requested by the CEO to report on progress of operational matters under the Strategic Documents.
Reviewing Company financial policies and procedures periodically and proposing updates to the CEO and Board, as applicable.
World Bank Project Grant Management
Monitor and ensure compliance with the requirements of the World Bank grant agreement and report on compliance to the CEO and Board periodically, including monitoring and overseeing compliance with World Bank fiduciary requirements including financial management and audit requirements.
Procurement Management
Procurement Planning and Documentation
- Preparing and submitting PCRIC Company Procurement Plan as part of Planning and Budgeting process for CEO and Director approval
- Preparing and submitting PCRAFI Project Procurement Plan in the World Bank’s STEP system for WB review and approval.
- Monitoring and updating the Procurement Plan regularly to ensure that all relevant documents associated with grant funded contracts are uploaded in STEP.
- Preparing and submitting periodic procurement management reports to the World Bank.
Procurement Management
- Preparing and submitting service provider Terms of References [1]in collaboration with technical specialist and appointment panel members as required for CEO approval and WB review and no objections (where grant funded).
- Preparing and overseeing Request For Proposal/Request for Expression of Interest documents and processes to comply with PCRIC policy/standards and World Bank requirements (where grant funded).
- Undertaking final contract negotiations with selected providers and ensure all contracts comply with PCRIC policy/standards and World Bank requirements (where grant funded).
- Supporting PCRIC service provider ongoing contract management (including contract amendments as required)
Management Reporting
- Coordinate the production of PCRIC management and financial reporting for the CEO and Board
- PCRIC Annual Report (for external use)
- PCRIC audited financial statements – coordinated by Insurance Manager
- Biannual Council of Members Report (for CoM meetings)
- Monthly Management Reports (For CEO and Board)
- Provide input and commentary for periodic project reporting
- PCRAFI 6-monthly Progress Reports (for use in WB implementation missions) – coordinated by the M&E Specialist
- Other reports as requested
Leadership Support
Provide support to the CEO and Board as required
- Attendance at Board Meetings
- Attendance at Foundation Council Meetings
- Other reasonable requests
Supervision & Reporting
The Consultant will work alongside PCRIC management and will provide the deliverables to the Board via the CEO.
Location
The Consultant is expected to work remotely. If required the consultant is expected to travel to the Pacific Island Countries, once COVID-19 restrictions are lifted, and at times agreed with the PCRIC CEO.
Performance indicators for evaluation of results
The evaluation of results will be based on the quality of work and the timely submission of the final outputs in line with the requirements.
Intellectual Property
All information pertaining to this assignment, which the Consultant may come into contact within the performance of the assigned duties under this assignment shall remain the exclusive property of PCRIC.
All materials developed by the Consultant on behalf of PCRIC shall also remain the property of PCRIC and can only be used if permission is sought and granted in writing.
Supervision & Reporting
The finance & planning manager reports to the CEO and manages the following contracts currently[2].
- Insurance Manager
- Company Auditor
- Project Auditor
- Company Auditor
- Legal Counsel
- M&E Specialist
Contracting Arrangements
The finance & planning manager is a fixed term employee based in Cook Islands working from PCRIC’s offices. Due to the current project closing date, only activity undertaken up to 31 December 2022 has confirmed associated grant funding, and beyond this date the costs of the contract will be covered from PCRIC operational surpluses
Some travel may be required for the role, as requested by the CEO from time to time.
This contract is expected to be filled by an international candidate and therefore an expatriate package including relocation costs, accommodation, return flights and healthcare is anticipated
Selection requirements
PCRIC seeks a seasoned financial manager, preferably with insurance experience and/or international development procurement experience in the Pacific region.
Criteria include:
Must have
- University degree in accounting/commerce/finance or equivalent.
- Qualified accountant with at least 10 years of financial management experience in senior roles
- 5 years’ experience with procurement and contract management.
- Excellent writing and oral communication skills in English language.
Preferrable
- Experience working with insurance providers and regulators.
- Experience working with Captive Insurers and/or Sovereign Disaster Risk Pools.
- Demonstrated experience with using statistical/probability models in making informed financial and risk management decisions as part of financial management.
Timetable
Output | Approximate completion date |
Closing Date for Expressions of Interest | 6 December 2021 |
Contract Signed | 17 December 2021 |
Implementation/Start Date | on or before 31 January 2022 |
PCRAFI Project Closing Date (End of Grant Funding) | 31 December 2022 |
CONTRACT DURATION: 24 Months
IMPLEMENTATION ARRANGEMENTS
The Regional Coordinator will sit with and work in close collaboration with the Resilience Team at PIFS under the oversight of the Programmes and Initiatives Department. The coordinator will also need to work closely with the SPC technical team, and the regional platforms established to support PIFS co-ordinational roles in DRF as mandated by the FEMM.
REPORTING OBLIGATIONS
The Regional Coordinator will jointly report to the CEO of PCRIC and the PIFS Director of Programmes & Initiatives in accordance with the approved TA work program, and the monitoring of implementation of the main tasks described in the TA work as well as any information relevant to allow for their performance evaluation.
DATA, SERVICES, PERSONNEL AND FACILITIES TO BE PROVIDED BY THE CLIENT
PIFS will provide to the Regional Coordinator office space, including office furniture, access to IT equipment, stationery, internet, communications (phone and fax) and all related utilities required. PCRIC will pay for the Coordinator’s IT requirements and stationeries.
The Regional Coordinator is fully responsible for the cost of local transportation (to/from the Office). If required to travel to the beneficiary countries, travel costs will be covered by PCRIC if approved in advance by the CEO.
Payment Schedule
This assignment will be undertaken as a time-based fixed term contract.
Fees will be paid monthly on submission of an invoice and deliverable acceptance form and approval by the PCRIC CEO.
Some travel is anticipated for this role, and if required the Regional Coordinator is expected to travel to other Pacific Island countries, at times agreed with the PCRIC CEO. Suitable expenses will be paid in full in accordance with PCRIC policies.
Reimbursement for other reimbursables needs to be agreed in advance and supported by valid invoices/receipts.
Note: If further restrictions are introduced to combat coronavirus/COVID-19 (restrictions on air travel and travel in general, entry restrictions, quarantine measures, etc.), PCRIC and the Firm are obliged to make adjustments to their contractual services to reflect the changed circumstances on the basis of good faith; this may involve changes to the service delivery period, the services to be delivered and, if necessary, to the remuneration.
Note on items that should be included in the Expression of Interest.
The procurement method for this activity follows the World Bank procurement regulations for “Individual Consultant Selection”. EOI’s should provide enough information to allow the individual most qualified for the job to be identified, but full costing or details of the activity are not required at this stage. PCRIC will then invite the preferred candidate to submit a technical/financial proposal for negotiation.
EOIs may be submitted via email. While EOIs are to be brief, the following information should be included for use by PCRIC in assessing an individual’s ability to meet the requirements of the contract:
- Full contact details
- CV’s, including qualifications, experience and references
- Basic information on costing/consulting fees
- Brief overview of current/past assignments, preferably of a similar size scope/seniority
- Declaration of any potential conflicts of interest
- Confirmation of eligibility to apply for World Bank funded contracts
It is not necessary to provide a detailed proposed approach or fee as part of the EOI. A shortlist will be identified, and interviews held, and the preferred candidates will then be asked to present a technical and financial proposal for services.
Contact
For further information please contact us at the address below:
Aholotu Palu, CEO, PCRIC
ceo@pcric.org or aholotupalu@yahoo.co.uk
Terms of References include activity/position description, scope of work, deliverables, timelines, budget estimates and other informations used in obtaining grant funding, management approval and form the basis of contracts of service
The roles and reporting lines of the business may change and vary according to business requirements.
Closing Date for Expressions of Interest: February 4th , 2022 at 4pm (Cook Islands)
Contract Type/Period: Lump-Sum to 30 November 2022
Selection Method: Consultant Qualification Selection (CQS)
Pacific Island Countries (PICs) cover approximately 40 million square kilometres of the world’s largest ocean and include some of the smallest nations, in terms of their population sizes and land masses. They are among some of the most vulnerable nations in the world, being highly exposed to the adverse effects of climate change and natural hazards. Since 1950, disasters from natural hazards risks have affected approximately 9.2 million people in the Pacific island’s region, causing 9,811 reported deaths. This has cost the PICs around USD3.2 billion (in nominal terms) in associated damage costs (EM-DAT, 2010)2.
The Pacific Catastrophe Risk Insurance (PCRIC) was established by act of the Cook Island Parliament under the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) to provide sovereign climate and disaster risk insurance to member countries in the Pacific region. Its primary objective is to provide a quick injection of cash to help participating governments deliver relief efforts, as soon as possible, after a disaster[1]. PCRIC, which was established as a captive insurer, is owned by the Pacific Catastrophe Risk Insurance Foundation (PCRIF)[2], controlled by beneficiary Pacific Island Countries (PICs) as well as donor countries to offer disaster risk finance and insurance (DRFI) to PICs.
PCRIC is domiciled in the Cook Islands and managed by a CEO and Board of Directors, comprised of experts in the field of insurance and disaster risk financing in the Pacific Region. Since its establishment PCRIC has had 5 policy holders with 6 participating countries in the PICs members of the PCRIF foundation.
Assignment Description
The assignment describes the role of the Insurance Manager of the PCRIC, running through to end of the contract.
This assignment consists of the following components:
- Insurance Programme Design
- Insurance Administration
- Reinsurance
- Claims Management
- Accounting Services
- Banking & Cash Management
- Contract Management
- Regulatory Compliance
- Other Duties & Responsibilities
The following section describes the role of Insurance Manager for the Company. Given the Company is still being fully operationalised and the governance structure of the Company is relatively light and still evolving, the Insurance Manager is expected to fulfil a range of roles.
Duties & Responsibilities
For the purposes of the descriptions below the Client referred to is PCRIC and also PCRIC to the extent of supporting PCRIC’s responsibilities for managing a secretariat function for PCRIF (including managing and maintaining basic accounting records/reporting). This contract does not include supporting a full audit of PCRIF accounts and if required then this work will be priced separately.
Insurance Manager Services
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- Insurance Programme Design
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- Assist the client company board (“the Board”) or authorized representative in the design of the insurance program to be implemented by the Client.
- Assist analysing the insurance portfolio based on the coverage selections made by each insured country calculating the aggregate risk profile, average expected loss amounts, and possible maximum loss amounts to the portfolio.
- Estimate the future capital required by the Client based on past claims experience, anticipated future premium levels and anticipated level of risk retained
- Present the results of the above analysis to the Board, making recommendations on the future level of risk retention and reinsurance strategy, and assist with updating the business plan accordingly.
- Control the fiduciary aspects of the insurance program of the Client under guidance from the Client’s CEO.
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- Insurance Administration
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- Review, prepare, present for execution by the Client and assist the Client with the issuance of Policies
- Maintain a register of the Policies issued by the Client, including details of countries insureds and insured risks.
- Assist the Client in collection from insureds of premiums due to the Client in relation to the Policies.
- Ensure payment of premium taxes is made by local insured or contracted fiscal representatives.
- Monitor and follow up on a regular basis, unpaid premium invoices.
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- Reinsurance
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- Under the direction of the Board liaise as appropriate with the Client, appointed reinsurers and brokers to determine applicable reinsurance cover terms and rates.
- Ensure premiums payable by the Client to the Client’s reinsurers or reinsurance brokers are forwarded and ensure premium payment clauses on reinsurance contracts are met.
- Maintain a register of reinsurance ceded by the Client, including details of insured risks.
- Claims Management
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- In conjunction with the CEO, liaise with the calculation agent to ensure that calculation requests from the Client are submitted within 48 hours of the event occurrence.
- Receive a report from the calculation agent following each calculation request, review to ensure that the correct deductibles and policy limits have been applied and account for claims paid, recoveries received and reserve movements.
- Ensure an appropriate claims register including open and closed claim details with appropriate reserve and paid amounts is maintained.
- Ensure that claims payments are made within the requirements of the insurance contract they were made under
- Keep reinsurers informed of all applicable claims.
- Ensure reinsurance recoveries are collected as necessary.
- Monitor claims activity and volumes to ensure they are consistent with business plan expectations and fully investigate any unexpected departures from projected levels.
- Accounting
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- Ensure proper accounting records of income and out goings and such other books of account are maintained in accordance with generally accepted accounting principles applicable to the business of insurance so as to present accurately on a quarterly basis a fair and accurate statement of the financial state of the Client.
- Provide monthly reporting to the CEO on cashflow and expenditure upon request.
- Provide the Client’s Board quarterly with management accounts as prepared in the reporting format required by the Directors, including a breakdown by underwriting year of claims movement and reserves.
- Maintain the accounting system for the Client and provide all accounting services required for the purposes of management and compliance with all requirements of CIFSC.
- Maintain an accounting system to track the Project related transactions.
- Monitor on a regular basis the specific requirements of the Cook Islands for solvency margin, capital adequacy or regulatory ratios to ensure they are met.
- On an annual basis provide assistance in the creation of a business plan and budget to the Client’s Board in relation to the following years financials.
- Provide annual management accounts to the auditors for the purpose of audit and prepare statutory financial statements. Liaise with the auditors as necessary and provide appropriate records to support transactional information.
- Provide the World Bank FM with an annual budget by fiscal year, including a detailed report on actual versus budget for the current year illustrating the Project related transactions.
- Banking and Cash Management
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- Collect all funds due to the Client and make arrangements for the payment of all accounts payable by the Client. The Contractor is responsible for timely payments due by the Client with respect to maintenance of the Client’s insurance license, contracts with service providers, and other arrangements, including those with the Client’s auditors, legal counsel, and banks.
- Ensure all records of receipts and payments are kept in line with regulatory requirements and are accessible.
- Maintain Treasury Management and Fiscal Controls for the Facility including:
- Giving due regard to the proper management of the Client’s assets with a view to ensuring availability of funds to pay claims and other Client obligations as and when they fall due;
- Ensuring that funds in excess of those needed to meet upcoming obligations of the Client are either placed on fixed deposit with the Client’s bankers or with the Asset Managers.
- Ensure that the initial paid in capital from donors is maintained at its current level and that the Contractor must ensure donors are made aware of any depletion in capital due to a significant claim.
- Arrange for the payment/transfer of the Client’s funds in accordance with directions issued to the Contractor from time to time by the Client or Authorized Representative.
- Maintain and operate such bank accounts on such terms and in accordance with such directions as may be agreed from time to time in writing by the Client or by resolution of the Board to be necessary or expedient for the proper conduct of the Client’s insurance.
- Conduct monthly reconciliation of accounts and transactions for management and reconcile, on a quarterly basis, all inward and outward payments in relation to the Client’s bank accounts held at the banks appointed by the Board.
- Provide a cash statement on a monthly and quarterly basis to the Client showing all funds received and all disbursements made as in section 5.2 above
- Implement the investment strategy of the Client according to the instructions of the Board or their appointed investment committee, including liaising with any appointed investment manager, placement of monies on deposit under instruction, and the accounting of all investment incomes, gains and losses in the Client’s books of account.
- Review any investment advisor or asset manager’s report and advise the Board or their appointed investment committee or Authorized Representative if they have reported any transgression of investment guidelines and of the performance relative to such benchmark as the Client might specify from time to time.
- For the avoidance of doubt, the Contractor shall not be entitled to borrow money on behalf of the Client, dispose of the Client’s assets, incur capital expenditure, or enter into guarantees on behalf of the Client other than in the normal course of underwriting save as set out in this Agreement or as authorised by the Board.
- Contract Management
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- Maintain a contract register of all company contracts
- Ensure all invoices are checked against contract terms before payment is approved
- Ensure all Deliverable Acceptance Forms and Contract Completion Forms are submitted and approved
- Provide adequate contract reporting to support effective management of staff and providers.
- Maintain payroll records for PCRIC employees
- Regulatory Compliance
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- Facilitation of on-site supervisory visits to the Contractor’s offices and/or Client’s office, by the insurance regulator.
- Liaise with the insurance regulator in regard to changes in existing regulations and guidelines. Advise the Board of changes in regulations and guidelines and relevance. Provide to new Directors and officers appropriate documentation for submission to the regulator and follow up with authorization.
- Provide the Client’s Board with update on corporate governance, compliance, and regulatory issues at each Board meeting.
- Assist in preparation and filing of any amendments to the Business Plan and/or other documents relating to the regulatory requirements of the Client.
- Liaise with the resident director in relation to the filing of statutory returns and all other documents relating to the regulatory requirements of the Facility and assist with responding to any queries that may arise from the regulator.
- Ensure that company complies with anti-money laundering legislation as per the Insurance Act 2008.
- With guidance from the Board and CEO, manage relationships with the Asset Managers, Bankers, Trustees, Enforcers, and Auditors to ensure the timeliness of their deliverables.
- As per Section 35 of the Insurance Code 2010, the Insurance Manager is required at all times to maintain Professional Indemnity insurance providing a minimum level of indemnity equal to the greater of $1,000,000USD or three times the annual management fee. This coverage will be at the Insurance Mangers’ sole expense, with proof of coverage provided to the Facility upon signing of the contract to act as Insurance Manager.
- Other Duties & Responsibilities
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- If requested by the CEO or Board, attend in-person or virtual Board meetings
- If required by the CEO or Board, liaise and meet with rating agency to facilitate preparation of financial strength rating
- Conduct other duties as may be assigned from time to time by the BoD and CEO and are within the scope of the Insurance Manager’s contract and the relevant legislation, including the Pacific Catastrophe Risk Insurance Facility Act 2016 and the Captive Insurance Act 2013
Key Deliverables
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- Monthly reports
- Quarterly Financial Reports
- Annual Financial Statements
- Annual Renewal Process (issuance of documents)
- Annual Business Plan Inputs
- Annual Budget (Company and Project)
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Supervision & Reporting
The Insurance Manager role reports through to the CEO, however organizational structures may change, and reporting lines could vary.
Institutional Arrangements
The Manager role will work from their office.
Minimum Requirements: Applicants must be able to demonstrate the following:
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- An active license with the CIFSC to perform the role of Captive Insurance Manager in the Cook Islands.
- Significant experience fulfilling the role of an Insurance Manager in the Cook Islands, with track record of compliance with all relevant insurance regulation and reporting requirements, including the monitoring of solvency margins and the submission of statutory returns
- Evidence of developing and maintaining a comprehensive record keeping system for all accounting and financial management support documentation for an insurance company or captive.
- Experience of performing formal compliance roles (like Compliance Officer), with an excellent working knowledge of procedures and regulations regarding anti-money laundering compliance and experience of developing and applying anti-money laundering policy and procedures.
- Excellent knowledge of insurance products and institutional structures for large insurance / catastrophe risk insurance programs.
- Experience of sovereign disaster risk financing in either a developed or developing country context desired.
- Experience of segregated portfolio company structures and operations is also advantageous
- Must satisfy the Cook Islands Financial Supervisory Commission’s fit and proper criteria
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Timetable
This period of this assignment is until November 30th 2022, with an estimated schedule of outputs as follows:
Outputs Approximate Completion date Contract signing February 11th, 2022 Commencement of Contract February 11th, 2022 Business Plan and Budget due May 1st, 2022 June 2022 Audited Financials (Entity and Project) finalized November 31st, 2022 Season 11 Insurance Placement November 1st, 2022 Completion of Contract November 30th , 2022 Payment Schedule
The payments will be made in line with the submission of quarterly IFR returns (3 payments) and annually on completion of annual renewal placement each year (1 payment)
Deliverable Fee Due date Mar22 Quarter Report 25% of Fee 30 April 2022 Jun22 Quarter Report 25% of Fee 31 July 2022 Sep22 Quarter Report 25% of Fee 31 October 2022 Annual Insurance Placement 25% of Fee 1 November 2022 Note: If further restrictions are introduced to combat coronavirus/COVID-19 (restrictions on air travel and travel in general, entry restrictions, quarantine measures, etc.), PCRIC and the Firm are obliged to make adjustments to their contractual services to reflect the changed circumstances on the basis of good faith; this may involve changes to the service delivery period, the services to be delivered and, if necessary, to the remuneration.
Note on items that should be included in the Expression of Interest.
The procurement method for this activity follows the World Bank procurement regulations for “Individual Consultant Selection”. EOI’s should provide enough information to allow the individual most qualified for the job to be identified, but full costing or details of the activity are not required at this stage. PCRIC will then invite the preferred candidate to submit a technical/financial proposal for negotiation.
EOIs can be submitted via email. While EOIs are to be brief, the following information should be included for use by PCRIC in assessing an individual’s ability to meet the requirements of the contract:
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- Full contact details
- CV’s, including qualifications, experience and references
- Basic information on costing/consulting fees
- Brief overview of current/past assignments, preferably of a similar size scope/seniority
- Declaration of any potential conflicts of interest
- Confirmation of eligibility to apply for World Bank funded contracts
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It is not necessary to provide a detailed proposed approach or fee as part of the EOI. A shortlist will be identified, and interviews held, and the preferred candidates will then be asked to present a technical and financial proposal for services.
Submitting an Expression of Interest
EOIs should be submitted by email only to the CEO on the emails below arriving no later than 4pm on Friday 4th February 2022 (Cook Islands).
Contact
For further information please contact us at the address below:
Aholotu Palu, CEO, PCRIC
Closing Date for Expressions of Interest: February 11th 2022 at 4pm (Cook Islands)
Contract Type/Period: Time-based to 31 December 2022
Selection Method: Individual Consultant Selection (INDV)
The Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) insurance program provides climate and disaster risk insurance to member countries in the Pacific region. Its primary aim is to provide a quick injection of cash to help participating governments deliver relief efforts as quickly as possible after a disaster. The PCRAFI insurance program currently provides parametric earthquake and tropical cyclone insurance solutions that increase the financial response capacity of Pacific Island Countries, helping them to meet post-disaster funding needs without compromising their fiscal balances and development. The insurance provides cash payouts to insured governments within 10 working days after a qualifying disaster event.
Following a successful pilot of the PCRAFI Insurance Program, the PCRAFI Facility was established by legal act in the Cook Islands on June 10, 2016 (The PCRIF Act), to provide the insurance program to Pacific Island Countries (PICs) going forward. The PCRAFI Facility was established as the Pacific Catastrophe Risk Insurance Foundation (PCRIF) that own a group captive insurer, the Pacific Catastrophe Risk Insurance Company (PCRIC). As the PCRIC is being operationalized a series of initial arrangements have been made to enable the commencement of key operations, including the appointment of a Board of Directors and key service provider contracts.
The PCRIF Council of Members is comprised of representatives of donor countries and Pacific island countries supporting the disaster finance programs initiating with the PCRAFI Insurance Program. Each Member state participant in the PCRIF is subject to a separate national legal system, and to the national legal requirements of the Cook Islands under the PCRIF Act. The PCRIC Board is subject to the national legal requirements of the PCRIF Act.
The PCRIF and PCRIC entities have appointed outside legal counsel in the Cook Islands to advise on Cook Islands legal and regulatory matters.
At the Council of Members (CoM) Meeting in October 2019, the CoM resolved to appoint PCRIC to provide the PCRIF Secretariat services to the CoM. These Terms of Reference (ToR) describe technical assistance support for the PCRIF as a sovereign multilateral cooperation mechanism: (1) to support the governance functions of the CoM and the interactions between the CoM member States, while respecting the national legal requirements applying to each such member state and (2) to coordinate the governance interaction between the PCRIC Board and the CoM as a sovereign multilateral cooperation mechanism.
Assignment Description
The PCRIC is now requesting the services of a Senior Advisor to undertake the following assignments, working in close coordination with PCRIF/PCRIC Cook Island legal counsel regarding the interface between public international law and governance standards and Cook Islands national and regulatory requirements:
Support PCRIC in providing the PCRIF with the Secretariat services, including:
- Supporting the CoM chair and council including drafting and preparing documents for CoM Members and PCRIC Board members attending or presenting to the CoM; Advising management on international public law governing state to state development cooperation, drafting and facilitating transactions and arrangements with regional organizations including the ADB, regional organisations such as PIFS, application for recognition as an OECD multilateral cooperation organization, ARC, CDRIF, Insuresilience, and the FCDO Centre for Disaster Protection.
- Serving as Secretariat for Member Council and advising on governance best practices for multi-national sovereign risk facilities, informed by ARC, CCRIF, SC a DRIF and the CAREC risk facility currently under review with the ADB
- Providing advice to the CoM via CEO with the necessary public international legal and governance advice to enable it to carry out its responsibilities, in particular with regards to cross-country, regional level matters, under the new Law and regulation;
- Providing advisory support and written materials at the request of the management and the Board to help facilitate CoM decisions that create matters arising or tasks delegated to the PCRIC;
- Overseeing and ensuring accurate records and accounts of CoM discussions, meetings and written resolutions/decisions are kept, including ensuring all records are provided to PCRIC/PCRIF’s trustee company for regulatory compliance;
To support the organizational and governance interactions between the CoM and PCRIC matters, including:
- Providing support to the PCRIC’s CEO and Board on engagement with the CoM and the PCRIF Member States (in particular donor members) on legal matters and organizational design recommendations for PCRIC/PCRIF as a sovereign disaster finance institution
- Supporting PCRIC if requested regarding the benchmarking, development and adoption of best practice organizational governance frameworks and policies for PCRIC/PCRIF as a sovereign disaster financing institution
- Advising the PCRIF Member Council via the CEO on international practices to overcome national legal barriers to cooperation and interacting with Ministries of Foreign Affairs and legal advisors for countries relating to questions about regional initiatives, and exemptions from local law requirements, tax and insurance regulations.
- Advising the PCRIC Board via the CEO on sovereign risk pool best governance and compliance practices.
- Advising management on implementation of segregated facilities, based on experiences and practices of ARC and CCRIF.
Provide support to PCRIC in relation to public international law relating to its organizational matters and development activities, including:
- Supporting PCRIC with review and input on matters requiring advice on legal requirements outside Cook Islands legislation (e.g public international law governing regional multi-state mechanisms, multilateral banks and other international organizations and the national legal systems/requirements applicable to CoM Members).
- Supporting PCRIC to execute any risk mitigation and management plans relating to regional international legal and governance issues arising from CoM and Board decisions and interactions;
- Provide internal capacity building on key elements of public international law interactions with national legal systems of CoM member states and multilateral development organisations
Other Tasks as required and directed by the Board or CEO
- Supporting PCRIC as necessary to complete all other tasks delegated to the Secretariat by the Council or Board relating to its responsibilities and engagement to the CoM.
- With particular reference to priorities associated with:
- Support on future fundraising efforts for grant funding or premium subsidy programmes. Contributing to insurance regulatory and legal capacity-building and training in PICs informed by regulatory interactions and experiences of ARC and CCRIF and insurance development facilities.
- Advisory support on implementation, governance and regulatory elements of the ongoing establishment of segregated cells within PCRIC
- Advisory support to the CEO on strategic matters relating to best practices in sovereign risk pools and regional and international engagement proposals relating to coordinated international cooperation legal and governance processes.
- Providing written materials and communications to the Board, CEO, COM members, PIFs and other organizations in the region articulating PCRIF/PCRIC’s unique legal structure and status as international cooperation mechanism; supporting capacity building programs involving legal advisors and students to support greater understanding of PCRIF/PCRIC legal status and functions in the Pacific region.
Expected outputs:
The International Public Law and Governance Secretariat advisor will produce the following outputs:
- Draft and deliver analysis, options and recommendations for BoD and CoM as requested by the CoM Chair and the other member state representatives from time to time on matters relating to governance practices, legal coordination among the national legal systems governing CoM Members and with public international law, in coordination with PCRIF/PCRIC Cook Island legal counsel and as necessary for the CoM to perform its governance functions
- In conjunction with the CEO and Office Manager, prepare meeting reports, written resolutions/decisions, in conjunction with the CEO, Project Coordinator and Cook Islands Legal Counsel
- Ensure CoM minutes (and other minutes as required) are prepared, reviewed and distributed within agreed timeframes, in conjunction with the CEO and Office Manager.
- Draft and deliver memoranda requested by the CoM or Board from time to time relating to the governance functions and activities between the CoM, Board and regional international or regional organizations.
- Provide assistance with developing and implementing constitutional, governance and legal policy changes – focusing on cross-country, regional level issues – to help execute CoM and Board decisions relating PCRIF/PCRIC activities, in coordination with Cook Island legal counsel.
- Support Strategic Plan Core Theme #1 on Regional Integration including drafting agreements, MoUs and other international agreements and providing support to implement governance training and integration programs across Pacific national legal systems to support Regional Integration of PCRIF and PCRIC as the leading Pacific Islands disaster risk management institution; help strengthen PCRIC’s formal engagement with regional and international organisations and stakeholders.
- Draft and deliver “Memoranda of Understanding (MOU)” agreements identified to strengthen PCRIC’s formal engagement with regional and international organisations and stakeholders
- Draft and deliver agreed inputs and outputs relating to the projects identified above (e.g Premium Subsidies, Special Regulatory Code, Strategic Risk Pool Matters) in conjunction with the CEO, Legal Counsel and Project Coordinator
- Support Strategic Plan Core Theme #4 on Global Partnering to facilitate governance and legal best-practices exchanges to help ensure partnerships between PCRIF and PCRCIC with sovereign risk insurance pools globally.
- Attendance virtual or in person, as requested by the CoM or Board in PCRIF/PCRIC meetings.
- Potential attendance at regional event to present governance, public international legal and other organizational processes as requested by the CoM or Board.
Supervision & Reporting
The Advisor role reports through the CEO to the Board and CoM Chairman, within the organizational structures and reporting lines established between the CoM Chair and PCRIC Board
Institutional Arrangements
The Advisor role will serve as an independent contractor and will work from his/her own offices-.
Selection requirements
- Master’s in law or J.D., specializing in international public law and/or international organizations preferred.
- Minimum 10 years of professionally relevant experience as a legal advisor for multi-stakeholder international development initiatives, and/or 5 years relevant experience with sovereign risk pools associated with Disaster Risk Financing programmes.
- Experience working with regional organizations, including Disaster Risk Financing organizations to help coordinate legal and governance systems across public international law and the national laws applicable to States participating as members.
- Strong international relationships with key stakeholders in the disaster risk financing sector.
- Demonstrated ability to provide sound advice on the institutional development and implementation of innovative DRF facilities.
- Experience in working with private entities (e.g., insurers, investment banks) for the development and implementation of innovative disaster risk financing solutions.
- Willingness to travel, including participating in short-term in-the-field missions with multidisciplinary teams.
- Demonstrated ability to work in teams and contribute to a common good.
- Demonstrated ability to work independently on complex problems
- Excellent writing skills in English and preferred in at least one other language.
- Excellent interpersonal and communication skills.
Timetable
Output | Approximate completion date |
Expressions of Interest Close | February 11, 2022 |
Contract Signed | February 18, 2022 |
Support Spring and Fall CoM Meetings | April 2022 and October 2022 |
Support PCRIC Board Meetings | As requested by the Board to January 2022 |
This timetable may vary with agreement between both parties.
Estimated time
The estimated time required is around 75 days over a 11-month period commencing in February 2022. This assignment will be undertaken as a time-based contract based on number of days worked and invoiced.
Payment Schedule [1]
This assignment will be undertaken as a time-based contract based on number of days worked and invoiced, not to exceed 75days.
Invoices will be submitted on a quarterly basis linked to the delivery of key outputs and after confirmation of services completed. Payment will only be made after acceptance of the invoice and delivery acceptance form by PCRIC, all as outlined in the contract.
If required the consultant is expected to travel to the Pacific Island countries, at times agreed with the CEO. Suitable expenses will be paid in full in accordance with PCRIC policies.
Note on items that should be included in the Expression of Interest.
The procurement method for this activity follows the World Bank procurement regulations for “Individual Consultant Selection”. EOI’s should provide enough information to allow the individual most qualified for the job to be identified, but full costing or details of the activity are not required at this stage. PCRIC will then invite the preferred candidate to submit a technical/financial proposal for negotiation.
EOIs can be submitted via email. While EOIs are to be brief, the following information should be included for use by PCRIC in assessing an individual’s ability to meet the requirements of the contract:
- Full contact details
- CV’s, including qualifications, experience and references
- Basic information on costing/consulting fees
- Brief overview of current/past assignments, preferably of a similar size scope/seniority
- Declaration of any potential conflicts of interest
- Confirmation of eligibility to apply for World Bank funded contracts
It is not necessary to provide a detailed proposed approach or fee as part of the EOI. A shortlist will be identified, and interviews held, and the preferred candidates will then be asked to present a technical and financial proposal for services.
Submitting an Expression of Interest
EOIs should be submitted by email only to the CEO on the emails below arriving no later than 4pm on Friday 11th February 2022 (Cook Islands).
Contact
For further information please contact us at the address below:
Aholotu Palu, CEO, PCRIC
ceo@pcric.org or aholotupalu@yahoo.co.uk
[1] If further restrictions are introduced to combat coronavirus/COVID-19 (restrictions on air travel and travel in general, entry restrictions, quarantine measures, etc.), PCRIC and the Firm are obliged to make adjustments to their contractual services to reflect the changed circumstances on the basis of good faith; this may involve changes to the service delivery period, the services to be delivered and, if necessary, to the remuneration