Terms of Reference for Marketing/Technical Assistance Expert for the Eastern Caribbean Partial Credit Guarantee Corporation, May 2022.
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to SMEs in the Eastern Caribbean Currency Union (ECCU). The scheme provides guarantees of up to 75% on loans made by private sector lenders to qualifying small and medium enterprises (SMEs). The scheme recently became operational and is working with banks in the 6 nations that comprise the ECCU. In general, both banks and SMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide.
The Current Issue
The ECPCGC was designed with a staff of 4 to 5 people to handle marketing, processing guarantee applications, and monitoring lender performance. During the initial operational phase, the need for training and implementation of the web portal has stressed the ability of the staff to keep up with day-to-day activities as well as handle the training. While the current staff has provided training on the web portal and terms and conditions of the guarantee scheme, it is likely that loan officers will have questions regarding both the terms and conditions of the scheme and web portal operations when they use the programme for the first time.
The Covid virus has slowed business on the islands, including the requests for bank lending. When lending picks up, it is likely that loan officers will have questions regarding programme operations and using the web portal. In addition, one of the concerns banks raise repeatedly is that many applications are not complete when submitted, requiring substantial additional time to get all of the information in a format that can be used for a credit application.
The Purpose of the Assignment
The ECPCGC is looking for an experienced bank or non-bank loan officer who has worked with SMEs in the Caribbean region and has experience in the Sales and Marketing of financial products. The consultant would have 5 main responsibilities.
- The first will be marketing the scheme to staff at the Participating Lenders, including line or branch loan officers. The idea is to convince the loan officers to consider the guarantee before declining any loan applications.
- The second will be to develop training in pipeline building and sales for the Loan Sales Officers.
- The third responsibility will be answering questions from officers at Participating Lenders regarding the guarantee scheme. The consultant would be required to become familiar with the electronic portal that is being used to accept applications from the Participating Lenders. While a significant amount of time has been invested in the current training regimen on the portal, experience has shown that there will be questions from loan officers when they have a case in front of them that may qualify for a guarantee.
- The fourth facet of the engagement will be working with loan officers at Participating Lenders to get their SME loan application packages ready for submission to the ECPCGC. This includes suggestions on structuring the transaction and may include determining that the applicant is not creditworthy.
- The fifth responsibility will be to meet with selected lenders that are not currently participating in the scheme. These meetings will be via video conference and in person. The purpose will be to assess the SME lending capability of a lender. This may involve reviewing policies and procedures, learning about their target market, and discussing credit analysis with them. Selected lenders may include banks and credit unions.
The ideal candidate will have a minimum of 10-15 years of SME lending experience in the Caribbean region, preferably in the countries of the ECCU. Experience with marketing, sales, and/or working with a guaranteed lending scheme would be beneficial.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, 2 professional references, and a current Police Certificate of Good Character on or before 20 May 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-292033-CS-INDV in the subject line of the email.
The following are key organisational staff that you may contact regarding any questions on the position:
- Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
- Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]