Terms of Reference: Review of the AADFI Prudential Standards, Guidelines, and Rating System (PSGRS)

SNV

3d • Remote

About The Position

The GG ICR Facility contributes to the development of a conducive, inclusive and sustainable investment climate for the implementation of the European Union’s Global Gateway Strategy in INTPA partner countries. Through targeted advisory services, it enables partner countries to attract investments, while enabling local and European businesses to grow and invest with confidence. The Global Gateway Investment Climate Reform (GG ICR) Facility is jointly co-financed by the European Union (EU), the Federal Ministry of Economic Development and Cooperation (BMZ) and the Ministère de l’Europe et des Affaires Étrangères (MEAE) and implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Expertise France (EF) and SNV (Netherlands Development Organisation).

The Global Gateway strategy of the European Union covers five areas: Digital, Climate and Energy, Transport, Health and Education and Research. It allows EU partners to develop their societies and economies and create opportunities for the EU Member States’ private sector to invest and remain competitive. The GG ICR Facility is part of the ‘soft’ measures to materialise the Global Gateway strategy. Through this programme and across all its results, the EU aims at supporting green investments and a transition towards low-carbon circular economies, in line with the ambition of the European Green Deal and with the Paris agreement objectives. It is integrated into the European Consensus on Development ‘our world, our dignity, our future’, specifically with its priorities of promoting inclusive and sustainable growth and jobs. Lastly, it reinforces the EU’s leadership in promoting gender equality and social inclusion, in full alignment with the transformative approach of the Gender Action Plan III , while contributing to the 2030 Agenda’s SDG 5 (gender equality).

AADFI (Association of African Development Finance Institutions) is an umbrella organization for development finance institutions (DFIs) in Africa with over 80 members. They provide services to African DFIs to promote sustainable growth through financially strong, resilient, and sustainable national DFIs. The GG ICR Facility is supporting AADFI to update the Prudential Standards, Guidelines, and Rating System (PSGRS) which were developed in 2008 with support of the AfDB and World Bank as a benchmark for strengthening corporate governance and institutional performance among African DFIs. Evolving global financial regulations, climate finance imperatives, digital transformation, ESG integration, and blended finance structures require a comprehensive update of the PSGRS to ensure continued relevance and alignment with international best practices.

The project’s objective is to update the Prudential Standards, Guidelines, and Rating System (PSGRS) for African DFIs (financial, technical and multilateral) to align with both local and international standards. The updated PSGRS will enable African DFIs to better assess their weaknesses in governance, financial condition, performance, operational guidelines, technological capabilities, climate change risks, and development impact, thereby helping to design solutions to the identified weaknesses. Expected results are that African DFIs implement governance, financial and operational measures, initiating investment climate improving actions. DFI supervisory authorities will also be briefed on the revised standards and encouraged to implement any relevant changes to their regulation and oversight of DFIs within their countries.

The GG ICR Facility seeks an expert team to support AADFI with:

Preparation and kick-off
Prepare kick-off meeting with the AADFI secretariat and GG ICR Facility team to review project implementation logistics and scope (milestones, responsibilities and timeline). Present to the taskforce an update about process and timeline of the project during the inaugural meeting of the taskforce.

Assessment and consultation process
Review previous ratings and reports : Analyze past PSGRS assessments to identify trends, gaps, and methodological shortcomings. Assess the current PSGRS framework : Evaluate the relevance, clarity, and feasibility of existing indicators (standards) and scoring criteria. Benchmark the PSGRS components against international standards, including global best practices and DFIs’ regulatory guidelines. Administer questionnaires to member DFIs : Collect updated data and feedback from member DFIs to validate proposed changes in the PSGRS. Conduct stakeholder consultations : Engage central banks, regulatory authorities, and standard-setting bodies to ensure alignment and buy-in. Analyze feedback and data : Synthesize survey responses and consultation inputs to refine indicators (standards) and the scoring methodology. Prepare summary of findings for presentation to the AADFI secretariat and the task force.

Draft and validate revised framework
Draft the revised PSGRS framework : prepare updated guidelines, scoring templates, and definitions based on findings and stakeholder input. Organise validation meetings for the revised PSDGRS framework through a workshop or meetings. Present the revised framework to African DFIs and experts for practical testing and final adjustments. Prepare technical notes and change log to document all changes made compared to the previous version, including rationale and stakeholder inputs. Incorporate feedback from validation meetings and prepare to secure formal endorsement from AADFI’s governance bodies.

Final framework and related tools
Deliver updated PSGRS Framework and related documents: Scoring templates and tools: standardized forms or digital templates for DFIs to submit data and for evaluators to apply the revised scoring system. Updated guidelines for DFIs to implement the PSGRS framework. Technical notes and change log which documents all changes compared to the previous version. Consultation and validation reports: summaries of stakeholder feedback, workshop findings, and pilot test results to demonstrate transparency and alignment. D evelop implementation roadmap: a timeline and guidance for DFIs on how to transition to the revised framework. Pro duce communication pack : official announcements, bilingual summaries (EN/FR), and briefing notes for dissemination to member DFIs and partners.

Capacity building, training and closing meeting
D evelop training and capacity-building materials : a slide deck with case studies for workshops and onboarding sessions. Plan dissemination and capacity building : organize 2 training sessions (possibly one session in English, and one in French), publish resources, and establish support channels for African DFIs applying the framework. Organize and participate in closing meeting together with AADFI secretariat to close the GG ICR Facility project.

Besides the activities and deliverables described above, the requesting organisation and the expert team is expected to:

Complete the project closing requirements, including GG ICR Facility’s Technical Assistance Completion (TAC) report. Throughout the project support with the collection of communication materials for the GG ICR Facility, such as photos or videos of events and participants, as agreed beforehand with the GG ICR Facility project manager. Throughout the project collect M&E data to support GG ICR Facility reporting (signed participants lists for each event, following the template provided by the GG ICR FAcility

Requirements

• At least 10 years of professional experience working with Development Finance Institutions (DFIs) or other financial sector institutions such as multilateral development banks (MDBs) in Africa.
• Demonstrated expertise in prudential regulation, international financial standards, financial sector governance, institutional performance assessment, benchmarking tools, or risk management frameworks.
• Proven experience in developing, revising, or applying prudential frameworks, performance standards, benchmarking systems, diagnostics, or assessment tools for financial institutions.
• Strong understanding of global financial governance frameworks, including but not limited to ESG norms, climate related financial disclosures, blended finance mechanisms, and digital transformation trends in the financial sector.
• Thorough knowledge of DFI mandates, operational models, and the diverse typologies of DFIs (financial, technical/nonfinancial, and multilateral DFIs), especially in the African context.
• Experience implementing projects in various African countries.
• Demonstrated capacity to facilitate multistakeholder consultations and workshops with DFIs, central banks, supervisory authorities, and government partners.
• Excellent analytical and writing skills, with the ability to translate complex standards into clear, operational guidance and tools.
• Fluency in English or French is required, with working proficiency in either language, given the bilingual nature of AADFI membership.

What This Job Offers

• Education Level: No Education Listed
• Number of Employees: 501-1,000 employees