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Bank of Maldives Seeks Consultant for Enterprise-Wide Risk Assessment

The Bank of Maldives (BML) has announced a request for proposal to conduct an enterprise-wide risk assessment on financial crime risks. The purpose of this exercise is to identify and mitigate potential risks associated with money laundering, terrorism financing, fraud, bribery, and corruption.

Scope of the Project

According to the Request for Proposal (RFP), the consultant will be required to:

• Review the bank’s current risk management framework
• Suggest international best practices that have not been covered in the scope
• Assess three areas:
  • Money laundering and terrorism financing
  • Fraud risk
  • Bribery and corruption risks

Expected Deliverables

The consultant will deliver:

• An enterprise-wide risk assessment report
• A gap analysis on the bank’s financial crime risk management framework
• Recommendations for updates to the framework
• Propose appropriate training aimed at addressing identified gaps

Evaluation Criteria

Bidders will be evaluated based on their proposed cost, overall proposal suitability, organizational experience, previous work, and technical expertise and experience.

Timeline

The assignment is expected to be completed within eight weeks of contract signing. Requests for clarifications should be submitted via email before December 29th, while proposals must be submitted by January 10th.

Contact Information

For more information, please contact Mr. Mohamed Ahmed, Head of Procurement at Bank of Maldives Plc.

Required Documents

• Detailed proposal
• Company profile
• Expertise and resource capacity
• Evidence of prior relevant experience