Development of ZRCS’S Risk Management Framework job at Zambia Red Cross Society (ZRCS)

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Vacancy title:
Development of ZRCS’S Risk Management Framework

[ Type: FULL TIME , Industry: Nonprofit, and NGO , Category: Admin & Office ]

Jobs at:

Zambia Red Cross Society (ZRCS)

Deadline of this Job:
18 December 2021  

Duty Station:
Within Zambia , Zambia , South - Central Africa

Summary
Date Posted: Monday, December 13, 2021 , Base Salary: Not Disclosed


JOB DETAILS:
1.0 Background
The Zambia Red Cross Society (ZRCS) is a humanitarian and developmental aid organization and auxiliary to Government authorities in the humanitarian field enacted by the Red Cross Act of 1966. It is a member of the International Federation of the Red Cross/Red Crescent Societies (IFRC) with a mandate of providing humanitarian services to the most vulnerable members of society.
This is evident in the various interventions it has overseen in the areas of Health, Disaster Management and Response, population movements, resource mobilization and other various projects including those done in partnership with other local and international partners to date.

However, the Society lacks the requisite information and structural systems together with an appropriate procedural framework to effectively manage its exposure to financial, legal, and operational risk.
To this end, the Society is looking for a reputable consultancy firm to assist the National Society in its efforts to establish a robust risk and financial management framework.

2.0 Assignment Purpose and Objectives
The purpose of this assignment is to thoroughly assess the Society’s entire risk management framework and facilitate the reorganization of the same in a way that makes it more robust, efficient and increases stakeholder confidence.
The ideal consultant will focus on the following specific objectives:
• Assessment of the National Society’s risk profile including determination of financial and operational risk exposure.
• Assess the Society’s risk monitoring and control mechanisms evaluating their efficiency and coming up with recommendations for their improvement.
• Determination of risk exposure level for existing sources of income including the efficacy of their associated controls.
• Determination of all ZRCS existing and potential liabilities including their associated risks to the Society.
• Tracing of all fixed non-movable and movable assets belonging to the National Society Headquarters and its Branches across the country in Branches where such exist.
• Compilation of all documentation pertaining to ZRCS’s ownership of all its existing assets across the country.
• Compilation of the NS’s risk management framework or strategy for the next 5 years or more.
• Compilation of a National Board Charter to outline the powers and responsibilities of the Board in accordance with the constitution and guide the actions of the NS’s board on risk management matters.

3.0 Main Responsibilities
ZRCS will be fully responsible for the successful recruitment of the consultant and management of the entire Risk Management initiatives review and re-alignment process. The responsibility of the consultant and ZRCS are as stipulated below.
3.1 Responsibilities of the Consultant
• The consultant will take the lead in designing the approach, stages, information gathering and organization of the entire process from review and assessment to final report production.
• To prepare an inception report upon receipt of the terms of reference
• Discuss key results of the re-alignment program and any other information incidental to the development of an improved risk management framework with ZRCS’s management team.
• Submit five (5) hard copies of a professionally done final risk management framework with an accompanying electronic copy.
3.2 Responsibilities of ZRCS
• Providing the ToR for the assignment and relevant policy documents
• Guide the consultant to the targeted areas where the information needed can be found.
• Mobilize the targeted stakeholders for involvement in the review and development process.
• Support the consultant in identifying local staff members, volunteers, partners and other stakeholders to assist in the execution of this project.
• Pay consultant fees as agreed upon
• Responsible for costs related to the entire risk assessment process.
• Draft the contract for the terms and conditions for this engagement

4.0 Scope and Focus of the Assignment
The focus of the consultation is to provide technical support in financial and risk management during the period when the institution intends to re-structure it’s risk and financial management framework. The scope of work for this assignment will include but not limited to the following:
4.1 Assessment of Current Risk management profile and control measures
The consultant will be required to review and assess how efficient ZRCS’s existing risk management and monitoring framework is. This will include a process of risk exposure recognition and an assessment of the Society’s monitoring, response and control mechanisms to such risks. Where such monitoring and response mechanisms are deemed to be in-effective in the consultant’s professional opinion, then the consultant will be required to come up with recommendations for improvement or complete overhaul.
4.2 Determination of risks associated with the NS’s current sources of income
The successful consultant will be required to review the ZRCS’s income generating activities in line with how they fit into its risk management profile. This will involve a review of how the Society utilizes profit (surpluses) from various income generation initiatives and whether such application of resources is effective in minimizing risk. The goal of this exercise will be to assist the NS to re-align its resource utilization priorities with its current risk environment. This will also include recommendations on which financial and business risks that the NS’s income generating activities are exposed to and the best way of monitoring and managing the same.
4.3 Determination of existing and potential liabilities including associated risk
The consultant will also be required to consolidate the National Society’s liabilities and assessing the risk posed by the same. The consultant will be required to outline all of ZRCS’s existing and potential liabilities in their final report highlighting them in order of exposure level from the highest to the lowest. The consulting team will also work with the ZRCS management team to formulate a strategy of how ZRCS’s debt burden can be managed to minimize risk.
4.4 Asset tracking and confirmation for both movable and non-movable assets
The consultant will work with ZRCS management and staff to locate and document all of ZRCS’s existing movable and non-movable assets (Mostly property and equipment). This will include compilation of all relevant documentation of ownership of such assets and formulation of a comprehensive national asset register within the recommended period for this assignment. The formulation of a national asset register will involve a valuation of all of ZRCS’s assets at both HQ and Branch levels in selected areas where such assets exist. All resulting documentation and records from this exercise are to be centrally maintained at National Head Quarters.
4.5 Produce a Risk Management Policy and Board Charter to improve ZRCS’s risk management framework
The Consultant will be required to produce a National Risk Management policy to help the National Society better manage its risks and control mechanisms. The consultant will also compile a National Governing Board Charter in accordance with the ZRCS constitution outlining the roles and responsibilities of the Zambia Red Cross Board in the management and control of risk. The Charter will be produced in addition to the NS’s final risk management policy or framework.
4.6 Compile and Submit an analytical report on ZRCS’s financial and risk management position
The consultant will compile a comprehensive report highlighting ZRCS’s current financial position and the recommended changes to its risk management framework. The financial analysis will produce a complete picture of the NS’s existing financial situation taking a complete inventory of all existing assets and liabilities with the liabilities split between those incidental to its operations, those resulting from legal action or are a potential legal liability, and those resulting from statutory obligations.

5.0 Deliverables
The consultant will provide the following deliverables;
1. An inception report, proposed methodology and analysis framework based on these Terms of Reference
2. A quotation for the total costs of this assignment including consultancy fees.
3. A work plan for the facilitation of the entire process including specifics on activity and timing
4. Five copies of a well bound financial and risk management position report containing but not limited to the following parts:
• The National President’s foreword (Provided by ZRCS)
• The Secretary General’s remarks (Provided by ZRCS)
• Executive Summary
• Background
• Analysis of ZRCS financial position
• Comprehensive asset analysis and tracing report
• Asset ownership document compilation report
• Comprehensive existing liabilities analysis
• Potential liabilities analysis
• Liabilities documentation report
• Existing risk management framework review
• Risk management recommendations
• Strategic priorities and proposed financial direction
• Strategic framework and execution plan
• Conclusion and general recommendations
• Any other parts that the consultant, in their professional opinion, advises as being necessary for inclusion in the framework.

6.0 Time frame (Duration)
The assignment is expected to be completed in 30 working days while contract duration can go beyond this in light of various unforeseen circumstances which may arise.

7.0 Consultant’s Profile and Expertise
This section of these ToRs describes the preferred professional record and profile of the required consultancy firm.
7.1 Consulting firm’s relevant profile
The preferred consultancy firm should mainly have a proven record of accomplishment in auditing and financial consultancy and should have been active in this field for at least the last 10 years cumulatively. The specific aspects of the successful firm’s profile among others is as follows:
• · A proven background and experience in the provision of auditing and financial consultancy services to high profile clients especially those in the non-profit organizations sphere.
• · Proven establishment as an audit and financial consultancy services provider as outlined in its certificate of incorporation
• Independence and objectivity: No conflict of interest must exist between the firm’s directors and staff and the staff and board members of ZRCS. A statement of independence by the successful consultancy firm may be required.
• Proven resource and requisite support staff to handle the scope of works outlined.

7.2 Skills, Knowledge and Competencies
The ideal consultant will have knowledge of and/or proven expertise in the following:
• At least five (5) years’ experience in audit and assurance, accounting and financial consultancy, risk management consultancy, strategic planning, asset valuation and financial reporting
• Familiarity with the Red Cross Movement’s mandate and operations is a plus
• Demonstrated experience in working with humanitarian or public benefit organizations in the areas of finance and risk management
• Qualitative and quantitative research skills
• Ability to write concise yet comprehensive reports

8.1 Submission of Proposals (Inception Report)
Interested firms are invited to submit their proposals in the following format:
• Introduction of the audit and consultancy firm briefly describing similar assignments undertaken before (Max 2 pages)
• An outline of the approach and methodology of undertaking the activities as outlined in the scope of works of this ToR
• A list of potentially required documents and information for this exercise
• CVs of two of the firm’s proposed team leaders for this assignment
• Activity budget including consultancy fees
• Annexes and attachments including the firm’s proposed work plan, detailed profile, certificate of incorporation (copy) and tax clearance certificate (copy).

Education Requirement: No Requirements

Work Hours: 8


Experience in Months: 60

Job application procedure
Please submit the proposal and accompanying annexes as one PDF file via eenew.ifrc.org

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