TA-9232 CAM: Inclusive Financial Sector Development Program, Subprogram 1 - International Financial Sector expert (44263-013)

Date Published: 20-Jul-2019    Deadline of Submitting EOI: 02-Aug-2019 11:59 PM Manila local time
Profile Terms of Reference Cost Estimate

Selection Profile

Consultant Type Individual
Selection Method Individual Consultants Selection (ICS)
Source International
Technical Proposal Not Applicable
Selection Title Inclusive Financial Sector Development Program, Subprogram 1
Package Number
Package Name International Financial Sector expert
Advance Action
 Yes
 No
Engagement Period
180
DAY
Consulting Services Budget
USD
70,000
Budget Type
 Estimated
 Maximum
Approval Number 9232
Approval Date 17-Nov-2016
Estimated Short-listing Date 05-Aug-2019
Estimated Commencement Date 19-Aug-2019
Open to non-Member Countries
 Yes
 No
Additional Information
Possibility of contract extension
 Yes
 No
 Not known
Possibility of consideration for downstream assignment
 Yes
 No
 Not known
Indefinite Delivery Contract (IDC)
 Yes
 No
Country of assignment
Cambodia
Contact Information
Project Officer Benita Ainabe
Designation Financial Sector Specialist (Capital Markets)
Asian Development Bank
Email bainabe@adb.org

Agencies

Primary Agency Country Agency Role Contact Person View Details
  National Bank of Cambodia Cambodia Executing Agency
  Ministry of Commerce Cambodia Implementing Agency
  Ministry of Economy and Finance Cambodia Implementing Agency
  Securities and Exchange Commission of Cambodia Cambodia Implementing Agency

Publishing History

Type Publication Date Published By Duration of Advertisement Deadline View Remarks
Original 20-Jul-2019 Evelyn V. Talja 14 DAYS 02-Aug-2019

Agency

Name of Agency National Bank of Cambodia
Mailing Address P.O. Box 25
22-24 Norodom Blvd.
Phnom Penh, Cambodia
City Phnom Penh
Country Cambodia
Telephone Number
Fax Number 855-23 426117
Cable Number 855-23 722563/723663
Website
Agency Email
Agency Role Executing Agency

Agency Contacts

Primary Contact Person Position Telephone Number Fax Number Email
No results found.




Agency

Name of Agency Ministry of Commerce
Mailing Address 20 A/B Preah Norodom Blvd
Phnom Penh, Cambodia
City Phnom Penh
Country Cambodia
Telephone Number
Fax Number 855-23-26-396
Cable Number
Website
Agency Email
Agency Role Implementing Agency

Agency Contacts

Primary Contact Person Position Telephone Number Fax Number Email
No results found.




Agency

Name of Agency Ministry of Economy and Finance
Mailing Address Street 92, Sangkat Wat Phnom
Khan Daun Penh, Phnom Penh City
Cambodia
City Phnom Penh
Country Cambodia
Telephone Number +855 23 723 971
Fax Number (855) 23 430137/427798
Cable Number (855) 23 430774/722316
Website
Agency Email admin@mef.gov.kh
Agency Role Implementing Agency

Agency Contacts

Primary Contact Person Position Telephone Number Fax Number Email
No results found.




Agency

Name of Agency Securities and Exchange Commission of Cambodia
Mailing Address #99, Street 598, Sangkat Phnom Penh
Thmei, Khan Sen Sok, Phnom Penh,
Cambodia
City
Country Cambodia
Telephone Number +855 2388 5611
Fax Number +855 2388 5622
Cable Number
Website http://
Agency Email
Agency Role Implementing Agency

Agency Contacts

Primary Contact Person Position Telephone Number Fax Number Email
No results found.




Terms of Reference

Expertise
Finance, Insurance, Pension
Expertise GroupFinance and Investment
TOR Keywords
Finance, Insurance, Pension, InsurTech, risk-based supervision, ASEAN
SourceInternational
Objective and Purpose of the Assignment
The Royal Government of Cambodia  under the responsibility of the Ministry of Economy and Finance (MEF), 
has requested ADB's support in understanding new technology in insurance supervision and the use of 
technology and innovation designed to improve savings and efficiency its current insurance model
Scope of Work
Conduct a comprehensive analysis on the insurance industry and supervisory framework in ASEAN and the 
countries which are the home supervisors of foreign insurance companies in Cambodia.
Detailed Tasks and/or Expected Output
The expert will perform the following activities:

•  Analyze insurance industry and supervisory framework in ASEAN and the countries which are the home 
supervisors of foreign insurance companies in Cambodia. The analysis should include:
   o  legal and regulatory framework for insurance and pension funds in each ASEAN member state (AMS);
   o  supervisory approach and practices in AMS;
   o  implementation of risk-based supervision in AMS;
   o  legal and regulatory framework for insurance and pension funds in the countries which are the home 
supervisor of foreign insurance companies in Cambodia;
   o  insurance industry landscape and recent developments in ASEAN;
   o  technology to improve and support insurance business and insurance supervision in advanced markets;
   o  risk management framework and practices of leading global insurance companies.  

•  Draft an implementation plan to migrate to the risk-based supervision in insurance sector in Cambodia 
which should include:
   o analysis on the current state of insurance industry and supervisory framework in Cambodia;
   o  gap analysis between the current state of Cambodia and the international best practices and core 
principles;
   o  necessary conditions such as data collection and human resource capacity to introduce risk-based 
insurance supervision;
   o  capacity building plan to build risk-based insurance supervision;
   o  study legal framework for risk-based life insurance of one or two ASEAN countries;
   o  study technology systems from one or two ASEAN countries relating to supervision (insurTech) and 
regulation (regTech).
Minimum Qualification Requirements
The expert shall have at least 10 years’ experience in insurance and pension funds supervision. The 
expert will have extensive knowledge in international insurance regulatory discussion and advanced risk 
management practices in insurance industry. The experts with experience within the Asia-Pacific region 
including countries within South East Asia is preferred. The expert shall have strong written and oral 
communication skills in English and have documented experience in developing consensus in multi-cultural 
settings.
Minimum General Experience
10
Years
Minimum Specific Experience (relevant to assignment)
10
Years
Regional/Country Experience
 Required
 Desired
 Not Required