Financial Crime World

Terms of Reference (TOR) for Fintech Project Support in Mongolia

Introduction

The Government of Mongolia has initiated a project to assess and develop legal and regulatory frameworks for financial technology (fintech). To support this effort, two positions are required: Team Leader/Deputy Team Leader and Project Coordinator. The following Terms of Reference outline the requirements and scope of work for these positions.

Team Leader/Deputy Team Leader

Eligibility Criteria

  • Overall experience: at least 10 years
  • National experience: preferably 4 years in fintech and/or financial services regulation sector
  • Proven experience conducting assignments related to Mongolia’s legal and regulatory institutions
  • Demonstrated ability drafting and reviewing legislations, regulations, reports, and policy papers
  • Fluency in Mongolian and English (verbal and written skills)
  • Experience working in Mongolia is required; preference for experts based and working out of Mongolia

Project Coordinator

Eligibility Criteria

  • Minimum qualifications:
    • Graduate degree in finance, technology, or other relevant field
    • At least 3 years of working experience in project management in Mongolia
    • Familiarity with ADB project administration procedures or working experiences with ADB project management is a merit
    • Oral and written English and Mongolian proficiency is required

Scope of Work

Both the Team Leader/Deputy Team Leader and Project Coordinator will be involved in the following tasks:

  • Developing an assessment report on the legal and regulatory frameworks for fintech development in Mongolia
  • Preparing a fintech regulatory roadmap identifying areas of improvement and cohesiveness of relevant legislations and regulations governing fintech-based NBFIs
  • Capacity building through knowledge sessions workshops for SupTech solutions with participation from FRC, BOM, and MOF; capacity building through knowledge sessions or workshops on RegTech and fintech innovation hubs with engagement for industry fintech associations
  • Recommending improvements in procedures, methodology for evaluating products to be sandboxed, and receiving applications for sandboxing through online platforms based on international best practices
  • Establishing a model for inter-agency coordination through formal guidelines and platforms between FRC, BOM, and MOF.

Administrative Support

The Project Coordinator will provide administrative support to the team, including:

  • Acting as focal point of communication with all other team members, executing and implementing agencies, the working group, ADB, the firm, and other relevant organizations
  • Undertaking logistic work of TA implementation, including document management, TA team meetings, missions, industry and regulatory consultations, and TA workshops
  • Providing secretariat support to the Team Leader and Deputy Team Leader
  • Providing administrative support to all other team members.