DEADLINE: 4TH MAY, 2022
DEVELOPMENT BANK OF NIGERIA (DBN)
REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – FIRM SELECTION)
DEVELOPMENT FINANCE PROJECT
ASSIGNMENT TITLE: AUTOMATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) 9 EXPECTED CREDIT LOSS MODEL
REFERENCE NUMBER: NG-DBN-227674-CS-CDS
The Development Bank of Nigeria (DBN) Plc has received a loan from the International Bank for Reconstruction and Development (BRD) and intends to utilize proceeds of the loan in engaging a qualified consulting firm to automate an enhanced version of the Bank’s existing Microsoft Excel based International Financial Reporting Standards (IFRS) 9 Expected Credit Loss (ECL) computation model. Specifically, the consultant will provide support to DBN in achieving the following:
1. Automation of the IFRS 9 Excelbased model into the Bank’s core banking application.
2. Generating accurate reports which correspond with that of the enhanced Excel based model.
3. Developing user friendly training materials to assist with the operating the automated version of the model
4. Developing a user manual for the automatem DC.
5. Training stakeholders and users on the use and functionalities of the model.
6. Supporting the model validators with necessary information on the automation of the model, to enable validators perform their duties.
7. Organizing a user assessment test for the model before go live.
8. Deploying the model for use in the live system environment.
The Services are expected to be completed within a period of four (4) months from the contract start date.
The DBN invites eligible consulting firms (“Consultants”) to indicate their interest in providing these Services. Interested Consultants must demonstrate relevant experience and a proven track record of performing these Services Consultants must have a team of experts and subject specialists to deliver the Services outlined in the scope of work and must provide evidence of the following:
1. Demonstrated experience in the use of IFRS9 Expected Credit Loss Computation Model.
2. Expertise in the use of Microsoft Excel tools.
3. Demonstrated experience in process documentation, automation, and software development.
4. Demonstrated experience in the use of core banking applications such as EazyBank AX.
5. Demonstrated experience with the loan process of Development Finance Institutions. Further details on the required Services are provided in the Terms of Reference, which can be found on DBN’s website with the following link bit.ly/ECLmAtor
Interested Consultants should provide information on qualification and relevant experience, responding to the above mentioned criteria, including a brief description of project scope, implementation dates and the funding organization where applicable.
The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD and IDA Credits & Grants by World Bank Borrowers, May 2011, revised in July 2014 (“Consultant Guidelines”), setting forth the World Bank’s policy on conflict of interest.
A Consultant will be selected in accordance with the Consultant’s Qualification Selection (CQS) procurement method set out in the Guidelines, and in line with the above mentioned Guidelines, interested Consultants may associate with other firms e.g., Joint Ventures/ Consortiums or Sub Consultancies, to enhance their qualifications.
Expressions of Interest from firms in association should include the following:
i. A cover letter stating the type of association or partnership, signed by member firms.
ii. A draft agreement or Letter of Intent to form an association.
For firms in a Joint Venture, each member shall be evaluated independently and should be reasonably qualified to undertake the assignment solely.
Expressions of Interest must clearly demonstrate the qualification of each member against the minimum criteria. Expressions of Interest must be submitted electronically to the following address: Email Address: ndinwoke@devbankng.com cc audit@devbankng.com, procurement@devbankng.com
All Expressions of Interest must be a maximum of 15 pages.
Submission Deadline: 4th May, 2022.
