Request for Proposals (RFP) for the Review and Development of the Fund’s Risk Management (RM) Policy and Procedures Manual (RE-ADVERTISED)

Job description

REQUEST FOR PROPOSALS (RFP) FOR THE REVIEW AND DEVELOPMENT OF THE FUND’S RISK MANAGEMENT (RM) POLICY AND PROCEDURES MANUAL (RE-ADVERTISED)

1)    Introduction

Kwacha Pension Trust Fund (the Fund or KPTF) is a single employer pension trust fund and is regulated by the Pensions and Insurance Authority (PIA).

The Fund is currently in the process of carrying out the following:

1.1           Review of the Risk Management framework;

1.2           Review and update of the Risk Management Policy and Procedures Manual, and

1.3           Review and update of the Risk Register.

2)    Objectives and Scope of The Assignment

2.1 In this regard, the Fund wishes to engage a Firm to undertake the following:

2.1.1   Review of the Fund’s Risk Management Policy;

2.1.2   Review of the Fund’s Risk Management Procedures Manual;

2.1.3   Review of the Risk Management framework and the relevant tools e.g. Risk Register, Consequence/Impact Rating Scale, Likelihood Rating Scale, Risk Appetite Statement, etc;

2.1.4  Based on the review of the above policy and procedure manual, to identify any gaps including carrying out a best practice benchmark and proposing changes/additions to the policies and procedure manuals and coming up with the revised documents to be presented to the Board of Trustees for approval;

2.1.5   Presentation of the resultant documents to the Audit and Risk Management Committee and the Board of Trustees, if need be. Documents to be presented are; the proposed RM Policy, the proposed RM Procedure Manual, RM framework, Reporting Template and the Risk Register (Operational and Strategic) and

2.1.6   To train and coach the Board of Trustees, Fund Management and staff on the new Policies and Procedure Manuals and the forms and templates to make them fully functional and operational.

3)    Consultant Competence

In addition to the scope under (2) above, the Firm will have to undertake the relevant engagements with Management, the Board and relevant stakeholders, compile the relevant documentation/ information that will be required for the review and preparation plus the drafting of these documents and eventual presentation to Management, the Audit and Risk Management Committee and the Board of Trustees and be able to provide the relevant training/ coaching.

The Firm must be familiar with laws and/ or standards that affect/ influence the above policies and procedures.

3.1 Deliverables

The following shall constitute the expected deliverables

3.1.1 Board approved:

3.1.1.1 Risk Management Policy (detailing the Fund’s Risk Appetite),

3.1.1.2 Risk Management Procedure Manual,

3.1.1.3 Risk Management Framework (containing the Consequence/Impact Rating Scale and Likelihood Rating Scale)

3.1.1.4 Risk Register (with Dashboard Reporting) and

3.1.2 Successfully conducted training and coaching for the Board of Trustees, Management and Staff.

4)    Requirements

The invited Firms will have to provide/demonstrate the following:-

a)   Company profile describing the core business of the firm/company;

b)   Proof of physical operational business premises e.g. utility bill, lease agreement. The Fund reserves the right to visit and inspect the business premises;

c)    Certificate of Incorporation/Registration;

d)   Membership with the Institute of Risk Management Zambia (IRMZA) will be an added advantage;

e)    Valid Zambia Revenue Authority Tax Clearance Certificate for the year 2025 in the organisation’s name;

f)      PACRA Stamped printout – printed out within the last one month (with details of directors/shareholders);

g)   Copies of identification documents for the Shareholders/Directors/Partners;

h)    Copies of identification documents for the Senior Management team ;

i)       Three recent (within the last 3 years) reference letters from reputable institutions that the firm has rendered similar professional services to;

j)      Five (5) years or more demonstrated evidence of the firm/ company  performing similar work in Zambia i.e. provision of risk management services;

k)    Five years or more risk management experience for the Senior Management Team and the team that will be assigned to this assignment and qualifications which should include among others -Postgraduate or relevant professional qualification in Risk Management, Business Management, Finance/ Audit, Compliance or any related field;

l)       CVs/ Profiles and copies of professional certifications for the team that will be assigned to this assignment are to be attached;

m)  Description of similar assignments previously undertaken with traceable references (should include the year the works were performed, amounts involved, detailed work undertaken, names of the clients and contact persons);

n)    Technical Proposals: the technical proposal should clearly explain the consultant’s understanding of the Terms of Reference and clear explanation of the methodology (including qualitative and quantitative methods) that the consultant is proposing to use and a comprehensive roadmap (workplan) for undertaking the assignment. The assignment shall be expected to be completed within 60 days after engagement;

o)   Bid validity period of at least 90 days from the date of quotation, (indicate validity of the quotation) and

p)   The financial proposal which should include the fee quotation for the assignment and all applicable taxes. The financial proposal should be sealed in a separate envelope and cleared marked as ‘Financial Proposal’.

Clearly labelled and sealed Technical and Financial Proposals must be deposited in the tender box situated at the Kwacha Pension Trust Fund Plot No. 5534 Libala Road Kalundu on or before Tuesday, 15th July 2025 at 16:00 hours local time and shall be addressed to the Director at the following address:

The Director

Kwacha Pension Trust Fund

Stand No. 5534

Corner Kakola/Libala Roads, Kalundu

Post Net Box 663 P/Bag E891

Lusaka

Electronic, late and unlabeled submissions will not be accepted.

Questions or comments regarding this Request for Proposals should be forwarded before 11th July 2025 through email to info@kptf.org.zm.

THE FUND RESERVES THE RIGHT TO DISCONTINUE THE PROCESS WITHOUT ANY RECOURSE TO THE PARTICIPANTS.