Tonga Payment Expert (6 years) — Pacific Strengthening Correspondent Banking Relationships Project

Request for Expressions of Interest (INDIVIDUAL CONSULTING SERVICES) Payments System Advisor to the National Reserve Bank of Tonga (NRBT) Project Name Pacific Strengthening Correspondent Banking Relationships Project Project Number P502591 Website https://projects.worldbank.org/en/projects-operations/project-detail/P502591 Activity and Reference Number (STEP) Payments System Advisor (Tonga) - FJ-PIFS-468930-CS-INDV Implementing Agency Pacific Islands Forum Secretariat (PIFS) Country FIJI PIFS, on behalf of the participating member countries, now invites eligible individuals (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (attach curriculum vitae and a cover letter with description of experience in similar assignments, similar conditions, etc.). Firms’ staff may express interest through the employing firm for the assignment and, under such situation, only the experience and qualifications of individuals shall be considered in the selection process. The attention of interested Consultants (including firms) is drawn to paragraph 3.14, 3.16 and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers, dated September 2025 (“the Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the individual consultant selection method set out in the World Bank Consultant Guidelines The detailed Terms of Reference (TOR) for the assignment is attached below and provides details of the scope of the services required along with specific deliverables expected. Further information can be obtained at the address below during office hours 09.00 to 17.00 hrs Fiji Time. Expressions of Interest must be delivered in written form by email no later than: Thursday, 08 October 2026 at 17:00 hours (Fiji Time) Address for Enquiries and Submission of EOIs: Pacific Islands Forum Secretariat Attn: Ajay Jagannath, Project Coordinator Private Mail Bag, Suva PO Box 856, Suva, Fiji. Tel: 679-3312600 E-mail: cbrprocurement@forumsec.org TERMS OF REFERENCE CONSULTING SERVICES - INDIVIDUAL SELECTION Payments System Advisor to the National Reserve Bank of Tonga (NRBT) Project Overview Project Name Pacific Strengthening Correspondent Banking Relationships Project Indicative Activity / Budget Line Component 2: Enabling Environment and Regulatory Harmonization - Payment System Oversight and Regulation - Oversight of National Payment Systems STEP Activity Reference # FJ-PIFS-468930-CS-INDV Position Title Payments System Advisor to the National Reserve Bank of Tonga (NRBT) Location of role Nuku'alofa, Tonga, working directly with NRBT, with agreed remote inputs and coordination with the PIFS PMU in Suva. The planning assumption is 50-60 percent of input days in Tonga. Primary Counterpart National Reserve Bank of Tonga (NRBT) Duration of Assignment Time-based individual consultant contract for up to twelve (12) months, with up to 240 working days of input. Extension may be considered subject to project needs, budget availability, consultant performance, procurement plan arrangements, and applicable World Bank no-objection requirements. Payments will be based on approved timesheets and eligible reimbursable expenses. Implementing Agency Pacific Islands Forum Secretariat (PIFS) https://forumsec.org/ Agency Description The Pacific Islands Forum was established to bring together the region to address pressing issues and challenges, and foster collaboration and cooperation in the pursuit of shared goals. PIF’s mandate is to strengthen cooperation and integration in the Pacific region through the pooling of regional governance, resources and the alignment of policies, furthering Forum members shared goals of economic growth, sustainable development, good governance and security. Founded in 1971, it comprises 18 members: Australia, Cook Islands, Federated States of Micronesia, Fiji, French Polynesia, Kiribati, Nauru, New Caledonia, New Zealand, Niue, Palau, Papua New Guinea, Republic of Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. The PIFS is a vital platform for Leaders to convene, engage in discussions and agree on policies that will benefit the people of the region. Selection Method Competitive Selection of an independent individual consultant, subject to procurement plan adjustment, justification, conflict-of-interest review, and World Bank no-objection requirements where applicable. Contract Type and Level of Effort Time-based individual consultant contract, planned for a full-time level of input. Payments based on approved timesheets and eligible reimbursable expenses. In-country presence requirement is specified separately above. Participating Countries The Pacific Island Countries participating in the regional project comprise Fiji, Kiribati, the Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. This assignment provides country-specific support to the Republic of the Marshall Islands under the regional project. Country Supported Tonga. The assignment provides country-specific support to NRBT under the regional CBR Project. Overall Project Objective The Project Development Objective is to enable continuous access to correspondent banking services in the participating Pacific Island Countries. Project Length August 2024 to September 30, 2030 Project Background The Pacific Islands Forum Secretariat (PIFS) has received financing from the World Bank Group's International Development Association (IDA) for the Pacific Strengthening Correspondent Banking Relationships Project. The project supports participating Pacific Island Countries to maintain continuous access to correspondent banking services and address payment, regulatory and financial integrity constraints that contribute to de-risking in the region. Component 2, Enabling Environment and Regulatory Harmonization, includes support for payment system oversight and regulation, national payment systems, regional harmonization and payments data. Related regional work includes the Pacific Payment Mechanism (PPM) feasibility study, which examines options for aggregating payment flows and improving economies of scale. The National Reserve Bank of Tonga (NRBT) has requested support to recruit a National Payments Expert. NRBT has developed a five-year National Payment Services Strategy and is progressing its Payment Systems and Services Bill. The September 2026 concept note records that the Bill had passed its first reading in Parliament and was expected to return for further parliamentary consideration. The Expert will review the latest legislative position and implementation requirements with NRBT at inception. The assignment will support implementation of the existing Strategy and strengthen NRBT's capacity to oversee and develop Tonga's payment system. The Expert will work alongside NRBT staff to turn strategic priorities into a sequenced work programme and support implementation, industry coordination and knowledge transfer. Objective of the Position The objective is to provide hands-on technical advisory and implementation support to NRBT in implementing its National Payment Services Strategy and improving the efficiency, resilience and oversight of Tonga's payment systems. The Expert will support priority domestic initiatives and NRBT's active participation in the PPM feasibility study. The work will help NRBT identify the requirements for possible future participation in the PPM and prioritise preparatory actions, taking account of the study's findings, NRBT's mandate, available resources and national priorities. Scope of Services The Expert will provide country-level, time-based support on payment system matters. Activities and expected outputs will be agreed with NRBT, PIFS and the World Bank payments team through a 12-month work plan and updated through periodic work planning discussions. i. Inception and work planning Review the National Payment Services Strategy, the latest Payment Systems and Services Bill, existing implementation plans, payment infrastructure and projects, staffing arrangements and payments-related technical assistance. Review relevant CBR Project, CBR Roadmap and PPM materials supplied by PIFS and the World Bank. Prepare an inception assessment and agreed assignment work plan covering priority activities, expected outputs, milestones, dependencies, counterpart responsibilities and the in-country and remote input schedule. Identify information gaps and specialist support needed, and maintain an action tracker as implementation progresses. ii. National Payment Services Strategy implementation Support NRBT to translate its five-year Strategy into a prioritised implementation plan. Specify responsibilities, timelines, resource requirements and dependencies, with a defined work programme for the first 12 months and a sequence for longer-term actions. Review progress with NRBT and industry counterparts, help resolve implementation issues and prepare decision papers on priorities requiring management direction. Keep domestic actions aligned with the CBR Project and any preparatory actions arising from the PPM feasibility study. iii. Payment system oversight and regulation Support NRBT to strengthen its payments oversight function and prepare the operational arrangements needed under the evolving Payment Systems and Services framework. Activities may cover licensing or registration processes, reporting, risk-based monitoring, operational resilience, consumer protection and coordination with other NRBT functions. Assist NRBT with payment oversight procedures, risk-monitoring tools, internal reporting and escalation arrangements. Advise on responsibilities for payment operations and oversight, and on safeguards to manage conflicts between those functions where relevant. Provide payment system technical inputs to draft regulations, rules, circulars and guidance, working with legal counsel and relevant specialists. Legal drafting and formal legal opinions remain the responsibility of appropriately qualified legal counsel. Implementation advice must reflect the legislation and powers in force at the relevant time. iv. Payment infrastructure and priority initiatives Provide technical and implementation support for initiatives prioritised by NRBT under the Strategy. Confirm the initial initiatives, their stage of development and required support in the work plan; the assignment does not presume a particular infrastructure investment or technology solution. Help define and review business requirements, options, project plans and payment-related procurement inputs. Advise on interoperability, payment messaging, participation arrangements, settlement and liquidity risks, security, business continuity and operational readiness, as relevant to each initiative. Support implementation oversight, participant coordination, industry testing and readiness reviews. Document issues and recommended actions, and coordinate specialist technical inputs where needed. Vendors and participating institutions remain responsible for system development, configuration and defect correction. v. Industry coordination and stakeholder engagement Support regular engagement between NRBT, banks, payment service providers, money transfer operators, government agencies and other relevant participants. Strengthen existing consultation arrangements and help establish additional coordination mechanisms where NRBT identifies a need. Prepare consultation materials, meeting agendas, minutes and action trackers. Support discussions on implementation responsibilities, public-sector payment needs and cross-institutional issues, with decisions and outstanding actions recorded for follow-up. vi. Payments data and monitoring Help NRBT strengthen the collection, analysis and use of payments data for oversight and policy. Agree priority indicators covering payment volumes and values, system availability, transaction failures, fraud, complaints, remittance flows and costs, and other measures required by NRBT. Support the preparation or review of reporting templates, data definitions, validation checks and monitoring tools. Align country inputs with CBR Project and PPM data requests and, where feasible and agreed, support gender-disaggregated reporting on payment and financial-service usage. vii. PPM feasibility study and regional coordination Support NRBT's active participation in the PPM feasibility study by coordinating country data and stakeholder inputs, preparing NRBT for consultations and workshops, and reviewing draft findings and design options from Tonga's perspective. Help NRBT identify the key requirements for possible future participation in the PPM as the proposed arrangement develops. Consider the relevant legal and regulatory, institutional, technical, operational and risk-management requirements, together with governance, resourcing and participant-readiness implications identified through the study. Prepare and maintain a PPM participation requirements and prioritised action plan for NRBT. Map gaps, proposed actions, responsible institutions, dependencies and indicative timing, and incorporate agreed preparatory actions into the National Payment Services Strategy implementation plan. Requirements should be updated as the feasibility study develops; participation remains subject to its findings, the eventual arrangements and the relevant approvals. Coordinate with the PIFS PMU, PIFS Payment Systems Specialist, World Bank payments team and other technical assistance providers on regional payment standards, cross-border payments, CBR information and harmonization activities. Help NRBT avoid duplication and sequence regional support with domestic work. Capacity building and knowledge transfer Work directly with designated NRBT counterparts throughout the assignment, providing mentoring and on-the-job training in payment policy, operations, oversight, data analysis and implementation management, according to agreed needs. Assess immediate and medium- to long-term training needs and prepare a multi-year capacity-building plan. Identify suitable training, peer-learning and regional exchange opportunities, and prepare practical templates, procedures and training materials that NRBT staff can continue to use. Support handover of ongoing activities, tools and working documents, with named counterpart responsibilities and a record of remaining training and implementation needs. Scope Exclusions The assignment is limited to payment systems technical assistance. It does not include drafting primary legislation or formal legal opinions, general central banking advice unrelated to payments, or responsibility for production system development, procurement decisions or regulatory approvals. NRBT retains its statutory and decision-making responsibilities. Detailed system design, cybersecurity testing, specialist supervisory manuals or other specialist work will be coordinated with appropriately qualified experts where required. Any material addition to the agreed scope or input ceiling will require written approval through the project arrangements. Time-Based Reporting Obligations and Expected Outputs This is a time-based individual consultant assignment. Payments will be linked to approved timesheets, agreed input days and eligible reimbursable expenses. The expected outputs are working products for managing implementation, reviewing the quality of advice and documenting knowledge transfer; they are not a fixed-price deliverables schedule. Working products will include the inception assessment and assignment work plan; the prioritised National Payment Services Strategy implementation plan; oversight procedures and technical advisory notes; implementation and testing inputs for agreed payment initiatives; consultation materials and action trackers; payments data and monitoring tools; the PPM participation requirements and prioritised action plan; and training materials and the multi-year capacity-building plan. Outputs may be revised or reprioritised with the agreement of NRBT, PIFS and the World Bank as implementation progresses. Changes will be recorded in progress notes and the action tracker. The Expert will submit a final completion and handover report covering work undertaken, materials produced, outstanding actions, risks and recommendations for continued implementation. Reporting Obligations The Expert will work for the NRBT's Assistant Governor Operations and designated payments staff on a day-to-day technical basis and administratively to the Project Coordinator in the PIFS PMU. Technical priorities, work planning and expected outputs will be agreed with NRBT, PIFS and the World Bank payments team. Coordination will also involve the PIFS Payment Systems Specialist and Tonga Country Coordinator as relevant. Monthly timesheets and short monthly activity notes will be submitted to the NRBT and the PIFS PMU confirming the principal activities undertaken. The notes will record days worked, in-country and remote inputs, meetings, outputs, implementation issues, decisions required and activities planned for the following month. The Expert will update the action tracker at least monthly and submit quarterly progress notes against the agreed work plan. Technical outputs will be shared with NRBT and PIFS, with World Bank review or no-objection obtained where required under the project arrangements. Institutional Arrangements This is a time-based individual consultant assignment contracted by PIFS through the PMU under the Pacific Strengthening CBR Project. PIFS will contract the independent individual consultant through the PMU for the benefit of NRBT. The proposed term is up to 12 months and up to 240 working days, providing for a full-time level of input. This workload does not establish a requirement for continuous residence in Tonga. The current planning assumption is that 50-60 percent of input days will be delivered in Tonga, working directly with NRBT in Nuku'alofa, with remote inputs used for document preparation, follow-up and coordination. NRBT must confirm whether this meets its requirements or whether a fully resident expert is required. The agreed arrangement and related budget must be settled before recruitment and stated consistently in the advertisement and contract. NRBT will facilitate access to relevant documents, designated staff and industry participants. Office space and meeting facilities may be provided by NRBT for in-country inputs and by PIFS for agreed inputs in Suva, subject to availability. The Expert will maintain secure records and comply with confidentiality requirements. Continuation or extension will be subject to performance, project needs, budget availability, procurement plan arrangements and applicable approvals. Performance reviews will assess the quality and timeliness of advisory support, counterpart engagement and knowledge transfer. Performance Indicators Performance assessment will focus on inputs, the quality of working products, implementation support and knowledge transfer within the agreed time-based work plan. The Expert will be assessed on the following: Monthly timesheets and activity notes are submitted on time and accurately distinguish in-country and remote inputs, work undertaken, outputs and decisions required. An inception assessment and assignment work plan are agreed, and a prioritised National Payment Services Strategy implementation plan is prepared and updated with NRBT. An action tracker is maintained with activities, responsible counterparts, deadlines, dependencies, risks and pending decisions. Payment oversight and regulatory implementation support is documented through technical notes, procedures, review comments or working materials, with specialist and legal matters referred appropriately. Agreed payment initiatives receive documented support on requirements, planning, participant coordination, testing and operational readiness. Industry engagement is documented through consultation materials, meeting notes and follow-up actions, and payments data work produces agreed templates or monitoring tools. NRBT receives timely support for PPM consultations, country inputs and review of study findings. A PPM participation requirements and prioritised action plan is prepared and kept aligned with the study and NRBT's implementation priorities. Training and mentoring are documented, immediate and longer-term skills needs are assessed, and a multi-year capacity-building plan is prepared. Quarterly progress notes and a final completion and handover report are submitted, identifying completed work, outstanding actions, open risks and counterpart responsibilities. Advice remains professional, objective and impartial, input days are recorded accurately, and the Expert complies with confidentiality, conflict-of-interest and anti-fraud requirements. Confidentiality and Conflict of Interest The Expert will comply with NRBT’s statutory requirements, including all applicable confidentiality, secrecy, data protection and information-protection obligations, as well as relevant PIFS and World Bank policies and rules on anti-corruption, prevention of fraudulent practices, conflicts of interest and confidentiality. Sensitive information obtained during the assignment will be kept confidential and handled only for the purposes of the assignment. Findings, data, reports and recommendations must not be published or disclosed without prior written consent from NRBT and PIFS, and World Bank clearance where required. Draft reports and other documents will be reviewed and cleared through the agreed NRBT, PIFS and World Bank arrangements before final issue. A non-disclosure agreement may be signed and attached to the contract. Documents and data will be stored, transmitted and handled securely in accordance with NRBT’s applicable statutory and information-protection requirements and the contractual provisions of the assignment, and transferred to the designated counterparts at handover. Actual or potential conflicts of interest must be disclosed before contract signature and throughout the assignment. The Expert must not participate in downstream procurement where this would create a conflict under the applicable World Bank Procurement Regulations or Project Operations Manual. Evaluation Requirements Mandatory Criteria Mandatory Criteria Description Evaluation Education A Master's degree or equivalent qualification in economics, finance, law, public policy, payment systems, information systems, business administration or a related field. Pass or Fail Experience At least fifteen (15) years of professional experience with a central bank, banking regulator, monetary authority or similar financial-sector authority, including payment system operations, oversight, regulation or related functions. Candidates must have held a department-head or equivalent senior role and demonstrate relevant advisory or implementation experience. Pass or Fail Desirable Qualifications These criteria are desirable qualifications that will be considered in confirming the suitability of the proposed consultant and documenting the direct selection justification. Candidates who meet the mandatory criteria will be ranked out of 100 points based on the scoring criteria above. The evaluation committee may interview the highest-ranked candidates where clarification is required or where candidates are closely ranked. # Evaluated Criteria Points 1 Knowledge of the economic and financial environment in the Pacific, small island states or other small and capacity-constrained jurisdictions. 20 2 Experience advising central banks or financial-sector authorities on National Payments Strategy implementation, payment system modernization, operations, oversight, regulation or infrastructure implementation. 25 3 Experience with digital financial services, non-bank payment service providers, remittances, cross-border payments, financial inclusion, consumer protection, payments data or public-sector payments. 15 4 Ability to prepare practical implementation plans, technical notes, procedures, reporting templates and training materials, and to provide mentoring and knowledge transfer. 20 5 Experience coordinating multi-stakeholder assignments involving financial-sector authorities, industry and development partners. Prior experience supporting regional initiatives, payment harmonization or cross-border arrangements is desirable. 20 Total 100 Language: Excellent command of both spoken and written English is required Selection Method The consultant will be selected through a competitive selection process for an independent individual consultant, subject to the approved procurement plan and applicable World Bank requirements. Selection will follow the Selection of an Individual Consultant, World Bank Procurement Regulations Seventh Edition, September 2025. Candidates will be assessed against the mandatory criteria and desirable qualifications set out above, based on CVs, supporting documentation, relevant experience, availability, references, and any interview or written assessment deemed necessary by the evaluation committee. Candidates who do not meet the mandatory criteria will not be evaluated further. Candidates who meet the mandatory criteria will be ranked based on their demonstrated experience and suitability for the assignment, including payment systems expertise, central bank or monetary authority experience, experience in small or capacity-constrained jurisdictions, ability to provide significant in-country presence in Majuro, and capacity to provide practical advisory and implementation support. At least two professional references should be obtained or verified for the preferred candidate before contract signature. Contract negotiation with the preferred candidate will confirm the daily fee rate, estimated input schedule, in-country presence plan, reimbursable expenses, confidentiality obligations, reporting arrangements and conflict-of-interest undertakings. The final selection will be subject to any required PIFS internal approvals, procurement plan requirements, and World Bank review or no-objection requirements. The project values individuality and welcomes candidates from diverse cultural, racial, gender and disability backgrounds.