Job Details

Job Description

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 hereby invites proposals from suitably qualified firms to bid for outsourced consultancy services in the provision of risk management services for an initial period of three (3) years, subject to renewal.

The  Firm shall support the development, implementation, and monitoring of the Fund’s enterprise risk management framework in line with regulatory requirements and best practices and shall be responsible for identifying, assessing, mitigating, and reporting risks across the organization to protect the Fund’s assets, reputation, and ensure operational continuity.

2)    The Assignment – Key Responsibilities and Main Activities

2.1     Strategy and Planning

2.1.1 Contribute to the development and periodic review of the enterprise risk management strategy and the compliance strategy in alignment with the Fund’s strategic objectives.

2.1.2 Participate in the formulation of annual work plans, risk appetite statements, and risk tolerance limits.

2.1.3 Support strategic risk assessments during planning and budgeting cycles.

2.1.4 Conduct horizon scanning to anticipate emerging risks and opportunities affecting the pension and financial services sector.

2.2 Risk Management

2.2.1 Providing strategic risk management and compliance guidance to the executive team, contributing to overall business growth and profitability/Actuarial surplus.

2.2.2 Conducting comprehensive risk assessments to identify potential risks to the Fund’s assets, investments, operations and ability to meet pension obligations.

2.2.3 Analyzing market trends, economic indicators, and regulatory changes to anticipate emerging risks.

2.2.4 Developing and implementing risk mitigation strategies aligned with the Fund’s risk appetite and regulatory requirements.

2.2.5 Collaborating with Management and Trustees to integrate risk considerations into investment decisions.

2.2.6 Establish and review risk management policies, procedures, frameworks and guidelines to ensure they reflect best practices and regulatory standards.

2.2.7 Implementing frameworks for monitoring and controlling risks across the Fund’s operations.

2.2.8 Providing input on risk-related aspects of strategic initiatives, including expansion into new markets or investment sectors.

2.2.9 Conducting scenario analysis to assess the potential impact of new regulations, economic and other developments on the Fund’s operations, financial stability and pension obligations.

2.2.10 Developing contingency plans and crisis management protocols to mitigate risks and ensure business continuity.

2.2.11 Developing contingency plans and crisis management protocols to ensure readiness and resilience in response to identified risks.

2.2.12 Maintain the Fund’s risk register and ensure timely updates and reviews.

2.2.13 Monitor key risk indicators (KRIs) and trigger escalation protocols when thresholds are breached.

2.2.14 Collaborate with departments to integrate risk management into business processes and decision-making.

2.3 Governance and Compliance

2.3.1 Developing and implementing robust risk management controls, ensuring compliance with industry regulations, standards and guidelines.

2.3.2 Assessing and mitigating financial risks, including credit, market, and operational risks.

2.3.3 Maintaining liability, workers’ compensation, and other insurance policies on behalf of the Fund, as applicable and a review of the Fund’s insurance policies to ensure that they best align with the Fund’s objectives and risk appetite.

2.3.4 Ensuring compliance with regulatory and statutory requirements.

2.3.5 Supporting regulatory audits and examinations by providing documentation and insights into risk management practices as well as tracking closure of audit and risk related recommendations.

2.3.6 Ensure alignment of risk management practices with regulatory and statutory requirements from institutions such as Pensions and Insurance Authority (PIA), Bank of Zambia (BOZ), Zambia Revenue Authority (ZRA), Data Protection Commission etc.

2.3.7 Facilitate periodic reviews and updates of risk-related policies, charters, and governance documentation.

2.3.8 Ensure compliance with internal control procedures and ethical business practices.

2.4 Stakeholder Management

2.4.1 Engage with regulators, auditors, and consultants on risk matters.

2.4.2 Provide guidance and build awareness of risk management across all levels of the organization.

2.4.3 Build collaborative relationships with risk champions and department heads.

2.4.4 Developing and maintaining relationships with external/internal stakeholders, including business units, the Members, Sponsor, Trustees, auditors and regulatory authorities ensuring clear communication and alignment on risk management strategies and objectives.

2.5 Reporting and Business Analytics

2.5.1 Prepare and present risk dashboards and regular comprehensive risk reports and analysis for senior management, Board Committees, and other stakeholders.

2.5.2 Communicating risk profiles, mitigation strategies, and emerging trends effectively to facilitate informed decision-making and transparency.

2.5.3 Analyze trends in operational, financial, investment, and strategic risks to support informed decision-making.

2.5.4 Support scenario planning and stress testing exercises as needed.

2.6 Team Leadership, Coaching and Mentorship

2.6.1 Identifying opportunities for enhancing risk management processes and frameworks based on industry developments and internal reviews.

2.6.2 Conducting training sessions and workshops to educate staff and stakeholders on evolving risk management practices and promote a culture of risk awareness and responsiveness.

2.6.3 Provide mentorship and on-the-job training to junior staff or interns within the Risk and Compliance function.

2.6.4 Promoting a risk-aware culture through training, communication, and active leadership.

2.6.5 Participate in cross-functional teams and contribute to a collaborative, high-performing risk culture.

3)    Consultant Competence

In addition to the activities under (2) above, the Firm will have to undertake 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.

4)    Requirements

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

4.1 Company profile describing the core business of the firm/company.

4.2 Proof of physical operational business premises e.g. lease agreement in the name of the Firm. The Fund reserves the right to visit and inspect the business premises.

4.3 Certificate of Incorporation/Registration.

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

4.5 Valid Zambia Revenue Authority Tax Clearance Certificate for the year 2025 in the organization’s name.

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

4.7 Copies of identification documents for the Shareholders/Directors/Partners.

4.8 Copies of identification documents for the Senior Management team.

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

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

4.11 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.

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

4.13 Description of similar assignments previously undertaken with traceable references (should include the year the work was performed, amounts involved, detailed work undertaken, names of the clients and contact persons).

5.0   Technical Proposals:

5.1 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 during the contract term.

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

5.3 The financial proposal should include the fee quotation for the assignment and all applicable taxes. The financial proposal should be sealed in a separate envelope and clearly 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 29th September 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 24th September 2025 through email to [email protected].

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