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  • Redefine How We Select Boards In The Interest Of Good Governance

Redefine How We Select Boards In The Interest Of Good Governance

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By Audley Phillip

In just a little over a week, the people of Antigua and Barbuda will be going to the polls to elect a government to run the affairs of state for the next five years.  It is a crucial election for more reasons than one. Good luck to all the candidates.

Regardless of who wins the January 18th General Elections, the incoming government and the new house of representatives must quickly enact laws and rules governing the nomination, selection, management and accountability of Boards.  This process represents a seminal tool towards achieving improved Corporate Governance in respect to public bodies.

There is an urgent need for a more transparent and structured approach to the process of public body appointment.  All citizens have a vested interest in seeing our public bodies meeting and fulfilling their mandates.

Every single public body in Antigua impacts the lives of ordinary citizens on a daily basis and their Boards and Managers have control and Management of vast amounts of State resources.

There need to be greater and more transparent regulation of the process of Board appointment given the implications for achieving good public governance.

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The names, knowledge, skill and experience of prospective directors must be subjected to a due diligence check and suitability for the post selected.

Public bodies are integral to the development and implementation of governments key policy objectives. They are held accountable in relation to various statutory requirements.

Public bodies are NOT  the government of the day money chest and the Directors and Management must look out for their stakeholders interest.  The Board plays a supervisory’s  role, overseeing corporate activities and assessing performance.

Given the things that have been allowed to happen over the years at many of these Statutory bodies, it is clear that  many of them lack the competence and the independence that is required in order to function independently and  properly..  Over the years,  State bodies’ Board of Directors have reneged on their responsibility and have allowed the Central Government  to plunder the resources of one body or another in a most reckless  and callous manner.

If we simply just turn a blind eye to this and allow the status quo to continue, we would be leaving a country and a legacy for our children that is far from healthy.  We also cannot continue to have Cabinet  Ministers and other sitting Parliamentarians sit on public boards.  It is a conflict of interest and sends the wrong message.

We also need to undertake a  process of rationalisation of the public bodies  as we seek to identify their relevance, the effectiveness of their roles and functions and  determine the best modality by which those functions should be conducted.. The rationalisation or public bodies will result in fewer public bodies, increased efficiency in public service operations and better governance of the sector. It will also free up resources to pursue development of priority areas such as Health, Education, Public Works and Public Utilities.

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]