SHORT-TERM CONSULTANCY OPPORTUNITY 

Issued on: December 28, 2020

Submit by: January 15, 2020

For: “Legal services on legal support for establishment of deposit guarantee for credit unions deposits”

Location:  Kyiv, Ukraine

Period of Performance: January – September 2021

1. BACKGROUND 

The Credit for Agriculture Producers (CAP) Project is a seven-year project (2016-2023) funded by the United States Agency for International Development that is implemented by World Council of Credit Unions (WOCCU). CAP seeks to revitalize the credit union sector in Ukraine by creating a more transparent legal and regulatory framework for credit union operations in Ukraine to both promote growth and reduce risks, while improving access to finance for agricultural and rural micro, small, and medium enterprises through credit unions. The CAP Project supports broad-based resilient economic development through a multi-faceted approach to further develop Ukraine’s credit union sector.

2.  SCOPE OF WORK 

Strategy of Ukraine’s Financial Sector Development 2025 is a comprehensive policy document aimed, inter alia, at streamlining credit unions market. The Strategy provides for expansion of credit unions’ services list, enhancement of MMSEs’ ability to use operations with credit unions, differentiation of regulatory requirements to credit unions, establishment of a system of credit unions’ members’ deposits guarantee.

The National Bank of Ukraine and the Deposit Guarantee Fund are initiating joint work to develop legislative framework for inclusion of Ukrainian credit unions in deposit guarantee scheme, as per the Strategy of Ukraine’s Financial Sector Development 2025. Availability of credit unions’ deposits’ guarantee is a key factor in increasing customers’ confidence to these financial institutions, broader financial inclusion, and overall financial sector stability.

World Council of Credit Unions is seeking a Short-Term Legal Expert to support these efforts. Specific tasks of this short-term assignment, to be conducted on an as-needed basis, include: 

1. Drafting amendments to the Law On Individuals’ Deposit Guarantee System and other related laws on including credit unions in deposit guarantee scheme, ensuring compliance of amendments with:

-  the Constitution and other laws of Ukraine

-  Directive 2014/49/EU on deposit guarantee schemes, Directive 2014/59/EU on establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council

-  legislative drafting techniques rules, as well as consistency of the draft provisions.

2. Drafting explanatory note to amendments to the Law On Individuals’ Deposit Guarantee System and other related laws.

3. Drafting (amendments to) regulatory acts of the Deposit Guarantee Fund and/or the National Bank of Ukraine on credit unions deposits guarantee.

4. Analysis of and providing recommendations to draft (amendments to) regulatory acts drafted by the Deposit Guarantee Fund and/or by the National Bank of Ukraine on credit unions deposits guarantee.

5. Participation (remotely or in person pending COVID-19 situation in Ukraine) in working groups/ experts’ meetings/ round tables, etc., if any organized by the National Bank and/or by the Deposit Guarantee Fund for drafting/ discussing amendments to the Law/ draft regulatory acts on credit unions deposits guarantee (on demand).

Estimated level of effort: 40 days

REQUIREMENTS 

• Masters’ degree in law
• Advanced skills in legislative drafting techniques, proven experience of laws drafting
• In depth knowledge and understanding of cooperative systems, with a focus on credit unions, as well as of deposit guarantee schemes
• Knowledge of EU Directives and deposit guarantee standards

• Previous experience working with, or understand the National Bank of Ukraine and/or the Deposit Guarantee Fund
• Excellent writing, research and analytical skills
• Native Ukrainian fluency, both written and spoken
• Fluency or high proficiency in written and spoken English (preferable)

 DELIVERABLES

1. Draft Law and/or comparative table on amendments to the Law On Individuals’ Deposit Guarantee System and other related laws on including credit unions in deposit guarantee scheme.

2. Explanatory note to the draft Law On Amendments to the Law On Individuals’ Deposit Guarantee System and other related laws.

3. Draft (amendments to) regulatory acts of the Deposit Guarantee Fund and/or the National Bank of Ukraine.

4. Report on the analysis of draft (amendments to) regulatory acts drafted by the Deposit Guarantee Fund and/or the National Bank of Ukraine.

5. Other deliverables on an as-needed basis

SUBMISSION REQUIREMENTS 

Qualified candidates must submit a resume with a cover letter detailing their relevant work experience and qualifications. Please include contact information for 2-3 references. Submit these materials by COB January 15, 2021 to [email protected] and specify “Short-Term Legal Expert” in the subject line. Only candidates who have been selected for an interview will be contacted. No phone calls, please.

 DISCLAIMER

This bid solicitation in no way obligates World Council of Credit Unions to award a contract, nor does it commit World Council of Credit Unions to pay any costs incurred in the preparation and submission of the application. World Council of Credit Unions reserves the right to vary any part of this bid solicitation at the time of award if it becomes necessary.