Market assessment and roadmap proposal for payment system

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Position Title: Market assessment and roadmap proposal for payment system
Location: Cook Islands
Country: Cook Islands
Deadline Date: 18-Feb-25 @ 05:07 PM (New York time)

Job Details

Job Posting Organization:
The United Nations Capital Development Fund (UNCDF) is an organization that focuses on promoting financial inclusion and sustainable development in developing countries. Established in 1966, UNCDF aims to help the world's poorest people access financial services and improve their livelihoods. The organization operates in multiple countries, providing support to local governments and financial institutions to create inclusive financial systems. UNCDF's mission is to unlock public and private resources to support the economic development of the least developed countries, ensuring that no one is left behind in the global economy.

Job Overview:
The position involves working as an individual contractor to support the Government of the Cook Islands in planning and designing an improvement plan for the country's payment system. The consultant will be responsible for analyzing existing payment system challenges and recommending innovative solutions that align with the financial inclusion and economic development goals of the Cook Islands. The role requires collaboration with various stakeholders, including government agencies, financial institutions, and user groups, to conduct a comprehensive market assessment and develop a roadmap for payment system improvements. The consultant will also engage in stakeholder mapping, regulatory compliance assessment, and the development of a shared vision for the payment system.

Duties and Responsibilities:

• Conduct stakeholder mapping to identify and engage key stakeholders such as the central bank, government agencies, commercial banks, financial institutions, and user groups.
• Perform a comprehensive market assessment of the current payment landscape in the Cook Islands, analyzing existing payment systems, infrastructure, and regulatory frameworks.
• Identify market gaps, challenges, and opportunities for payment system improvements tailored to the needs of the Cook Islands.
• Conduct surveys and consultations to understand user needs and adoption challenges for financial institutions and end users.
• Review existing laws related to payments, e-money, and data protection, and provide recommendations for amendments or new laws to support payment system improvements.
• Engage with key stakeholders through workshops, focus groups, and interviews to ensure alignment with project goals.
• Develop a shared vision and roadmap for payment system improvements, outlining project goals, objectives, key system requirements, and implementation strategies.
• Collect feedback from stakeholders and prepare a final roadmap for adoption.

Required Qualifications:

• Proven experience in payment systems, financial inclusion, or related fields.
• Strong analytical skills with the ability to assess complex regulatory frameworks and market conditions.
• Excellent communication and stakeholder engagement skills.
• Experience in conducting market assessments and developing strategic roadmaps.
• Familiarity with the financial landscape of the Cook Islands or similar markets is an advantage.

Educational Background:
A bachelor's degree in finance, economics, business administration, or a related field is required. A master's degree or equivalent qualification in a relevant discipline is preferred.

Experience:
A minimum of 5 years of relevant experience in payment systems, financial inclusion, or consulting roles is required. Experience working with government agencies or international organizations is highly desirable.

Languages:
Fluency in English is mandatory. Knowledge of local languages spoken in the Cook Islands would be an advantage but is not required.

Additional Notes:
The contract duration is for 50 days distributed over 3 months, with the work being home-based but requiring travel to Avarua, Cook Islands. This position is open to both international and local consultants. Compensation details will be provided upon selection.