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Consultancy Services for the Development of Risk Control Self Assessment (“RCSA”) Process

Consultancy Services for the Development of Risk Control Self Assessment (“RCSA”) Process

Through this request for proposals (“RFP”), the GCF is seeking to contract a qualified, reputable and experienced Consultancy Firm to carry provide consultancy services for development of RCSA process.

Pursuant to the guidance received from the Board, the Green Climate Fund (GCF) is in the process of developing and implementing the Risk Management Framework (RMF).

The Board of the GCF adopted the first set of RMF components including the Risk Appetite Statement, Revised Risk Register, Risk Dashboard and Risk Guidelines for Funding Proposals (Decision B.17/11).

The Board also adopted the second set of RMF components including the Investment Risk policy, Non-financial Risk policy and Funding Risk policy (Decision B.19/04).

Non-financial Risk is defined as the potential for financial and non-financial losses arising from the failure of people, process, or technology or the impact of external events.

The purpose of the RCSA is to identify, assess and mitigate the Operational Process Error Risk and IT Risk described in the Non-financial Risk policy, adopted at B.19, through the development and continuous evolution of appropriate controls.

Each RCSA is expected to be conducted by the “Risk Owner” for the respective process, or IT Risk, in collaboration with the Office of Risk Management and Compliance (ORMC).

Identifying, assessing and mitigating the Operational Process Error Risk and IT Risk requires subject matter expertise in the risk management areas of GCF. As GCF may not yet have deep experience in operational risk management, involvement of an external expert is necessary for effective development of the RCSA process.

Sealed Proposals must be submitted to the Secretariat no later than 21 June 2018 at 1700 hrs Korean time.
Submission period
31 May 2018 - 21 June 2018
Status
Closed
Document type
Request for proposal
Ref. number
RFP 2018/C/014