PLANET has been short-listed for the project

The Deposit Insurance Agency of Serbia – Institutional Capacity Building Programme (ICBP) (ID 44113 EBRDZ108756)

The European Bank for Reconstruction and Development is the Contracting Authority.

The Beneficiary is the Deposit Insurance Agency (“DIA”).

The project budget is 480,000 € and the project duration is 24 months.

Project Details

In 2013, the European Bank for Reconstruction and Development (“EBRD” or the “Bank”) conducted a diagnostic study to assess the existing capacities of the Deposit Insurance Agency of Serbia (“DIA” or the “Client”) and needed improvements before deciding on a specific programme to support. Based on this study, areas for improvement have been identified.

DIA’s public policy objectives are to insure deposits up to EUR 50,000 held within banks operating in Serbia, contribute towards enhancing the banking system sustainability, strengthen public confidence in the financial system and contribute towards the economic welfare of the country.

The Client intends to engage the services of a specialized and experienced consultancy firm (the “Consultant”) to assist in strengthening its capacities and address identified gaps (the “Assignment”).

The objective of the Assignment is to support the DIA in the execution of its core mandate to enhance and sustain confidence in the banking sector in Serbia with financing and extensive technical assistance. EBRD’s assistance will be particularly important in the implementation of a comprehensive Institutional Capacity Building Programme (“ICBP”).

In particular EBRD aims to:

– re-establish the deposit insurance framework in line with best practices including comprehensive DIA reform with limitation of pay-out to covered deposits and restricting other usage of funds to ensure the long term financial sustainability of the DIA;

– help strengthen confidence in the country’s financial sector and contribute to its stability and ability to withstand potential crisis;

– support payout for an insured event as defined in the revised Law on deposit insurance; and

– assist with reforming the DIA to enable the fulfilment of its mandate.

The assignment will focus on provision of advice and implementation of measures in the following areas:

(A) Corporate Governance

(B) Mandate and Organisational Restructuring

(C) Financial sustainability

(D) Bank risk-monitoring and resolution

(E) Asset management of bad asset portfolio

A review of the underlying IT infrastructure and certain support with implementation of effective technical solutions will also be among the tasks.

To achieve the project objective, the Consultant shall implement the following tasks:

– Support DIA in the implementation of the ICBP

– Advise DIA’s management with regard to the implementation of the adjusted legal mandate and organisational set-up of the organisation

– Provide on the ground support and training in asset management including asset valuation techniques, asset disposal optimisation & process review in order to maximise value from the bad asset portfolio of the DIA

– Train DIA staff in the fields of monitoring of banking sector risks, risk management of the Deposit Insurance Fund and development of a risk-based premium system for the DIA in cooperation with the National Bank of Serbia and the Ministry of Finance

– Train DIA staff in the fields of bank resolution options / least cost test and support DIA in the development of capacities to opine on the least cost test and resolution strategy developed by the NBS

– Improve DIA’s public awareness and communication policy and tools and providing training to DIA staff

– Integrate the IT infrastructure of the DIA

Status of Selection Process: Interested firms or group of firms are hereby invited to submit expressions of interest.

Assignment Duration: The assignment is expected to commence in January 2015 with an estimated overall duration of 24 months.

The Consortium with Mazars LLP / UK as a leader and PLANET S.A. (GR), as partners, belongs to the list of the 5 short-listed candidates.