Zambia Postal Services Corporation is a State-Owned Enterprise (SOE), mandated to provide postal, courier and financial services, and operate a Post Bank. ZamPost boasts of a countrywide post network of 170 branches and a financial services portfolio that includes money transfers (Swiftcash) and agency services consisting of salary payments for civil servants, Road Tax collections, pension payments and Social Cash Transfers.
ZamPost’s post office network and portfolio of complementary services make it a uniquely positioned player that can potentially bridge some of the key challenges confronting financial inclusion in Zambia, including liquidity management and the accessibility of financial services in rural areas.
ZamPost has sought assistance from UNCDF to develop a DFS business strategy and build internal capacity that will enable it to effectively leverage its captive customer base and geographic footprint post-office branches. Scope of assistance includes analysis of different strategic options available to ZamPost (business and partnership models) and recommending the most suitable strategy for entering the DFS space. The strategy work will be accompanied by capacity building of ZamPost staff and sharing best practices, so they can contribute to the strategy’s development and better manage potential challenges in executing the strategy.
Given this background, UNCDF is seeking the services of an Financial Modeling Analyst who is familiar with DFS industry to support the UNCDF’s DFS expert develop a Financial Model and DFS Business Strategy for ZamPost.
Duties and Responsibilities:
Under the supervision of the UNCDF Regional Technical Specialist, the Consultant will specifically undertake the following activities:
- Conduct interviews of relevant employees at ZamPost to understand the corporation’s long-term commercial goals, budgetary priorities, transactions volumes etc.
- Conduct field research in Lusaka, Ndola and 5 rural locations to test assumptions and collect inputs (quantitative & qualitative) for developing financial models for different strategic options available to ZamPost in offering DFS services.
- Lead the financial modelling activity using a range of modelling and scenario-building techniques and tools.
- Assess opportunity offered by available strategic options by performing financial forecasting, developing revenue models and conducting cost benefit analysis of various strategic options available to ZamPost for leveraging DFS services.
- Build a comprehensive Financial Model and 3 Year Business Case, including scenario and risk analysis, for the most suitable strategic option available to ZamPost for leveraging DFS services.
- Provide support and technical inputs to UNCDF DFS Expert towards the design of DFS business strategy for ZamPost.
- Assist UNCDF DFS Expert develop training modules on DFS and train ZamPost personnel from key internal functions/departments (including Operations, Products, Marketing, IT, Finance, Legal).
The consultant will be required to develop the following deliverables:
- Inputs and attendance to the Vision of Perfect workshop for alignment of expectations.
- Minutes/notes from meetings and Key Informant Interviews (KIIs) conducted.
- Financial forecasting and revenue models for different the strategic options.
- Comprehensive Financial Model and support to UNCDF DFS Expert in crafting a DFS strategy for ZamPost.
- Participation in project steering committee for ZamPost and weekly progress meetings.
- Draft Training modules, guides and assessment tools on DFS tailored for key internal teams/functions.
- A Master’s degree in Finance, Accounting, Public/Business Administration, Economics or related discipline or the equivalent experience;
- A minimum of five (5) years of progressively responsible experience in financial services industry at the national or international level is mandatory;
- A minimum of two (2) years dedicated experience (more desirable) in financial analysis and modeling is required;
- Demonstrated proficiency with financial analysis and modeling techniques/tools;
- Demonstrated proficiency with Excel formulas and functions;
- Understanding of Digital Financial Services concepts and issues related to financial inclusion is highly desirable;
- Ability to translate highly technical terms into language that is easily understood by the layperson;
- Excellent attention to detail, a proactive approach to achieving key results, and a high level of thoroughness in a complex multitasking and matrix management environment;
- Fluency in English.
Timeline, duration of assignment, duty station and expected places of travel:
- Timeline: March 2018 to May 2018.
- Location(s); The project will be carried out in Lusaka and Ndola.
- Total Number of Working Days for Assignment : 35 days.
- The consultant is expected to collect inputs for the financial model and strategy through interviews of ZamPost officials in Lusaka and Ndola. Consultant is also expected to conduct field research in different provinces of Zambia (up to 5 rural areas, specific locations to be confirmed) and interview ZamPost existing customers (Swiftcash and Social Cash Transfers Beneficiaries) at ZamPost branches in semi-urban and rural areas.
Provision of Monitoring, Progress Controls & Payments:
- The consultant will work under the direct supervision of Regional Technical Specialist.
- Payment will be made upon satisfactory completion of deliverables. All payments are subject to the clearance and approval of the direct supervisor.
- Final payment shall require a signed performance evaluation of the consultant.