Queen Elizabeth II Diamond Jubilee Scholarship In support of the Inclusive Innovation collaboration between the University of Cape Town Graduate School of Business and the University of Toronto Internship Outline 2016 Introduction The University of Cape Town Graduate School of Business and the University of Toronto are involved in an exciting collaboration to build a network of student leaders trained in inclusive innovation to work together to address the challenges of low-income communities, and how to promote innovative and workable solutions. As part of this collaboration, we have a selection of students from the Munk School of Global Affairs in Toronto coming out to South Africa this year to conduct an 12-16 week internship with host organisations. Overview of Internship Opportunity Organisation: FinMark Trust FinMark Trust, an independent trust based in Johannesburg, South Africa, was established in 2002, and is funded primarily by UKaid from the Department for International Development (DFID) through its Southern Africa office. FinMark Trust’s purpose is ‘Making financial markets work for the poor, by promoting financial inclusion and regional financial integration’ as well as institutional and organisational development, in order to increase access to financial services for the un-served and undeserved. FinMark Trust commissions research to identify the systemic constraints that prevent financial markets from reaching out to these consumers and by advocating for change on the basis of the research findings. FinMark Trust achieves its purpose by: • Playing a catalytic role to make financial markets accessible, sustainable and inclusive by promoting and supporting policy and institutional change across Africa; • Providing information that encourages financial service providers to understand the potential and characteristics of new market segments; • Promoting financial capability and consumer financial protection; • Promoting growth and integration in the financial services sector in Southern Africa, focusing on SADC member states and contributing to the process of regional policy harmonisation, together with translating and setting best practice through evidencebased advocacy. For more information visit www.finmark.org.za The establishment of a new centre: Insight2impact (i2i) FinMark Trust (FMT) and The Centre for Financial Regulation and Inclusion (Cenfri) are jointly establishing a new centre funded by the Bill & Melinda Gates Foundation and in partnership with The MasterCard Foundation. The centre has secured funding for five years to drive data-led decision making for more effective financial inclusion. The centre will serve as a central convening point for financial inclusion research in Sub-Saharan Africa. One of the objectives of the centre will be to increase the use and quality of financial inclusion survey (FIS) and geospatial (GIS) data, research and methodologies. The FIS data is typically collected by market facilitators such as the Financial Sector Development Trusts (FSDs) and the GIS data by Central Banks in their respective countries. These data types are seen as a public good that financial inclusion stakeholders can use to better understand the landscape for financial inclusion in their markets and better identify and design appropriate interventions targeting financially underserved individuals. This work is undertaken by the Data Quality (DQ) team of i2i, which is based at FMT in Johannesburg. For more information visit http://www.i2ifacility.org/ or http://cenfri.org/insight2impact Outline of Internship Project I2i at FMT is looking for highly driven interns, with a passion for real world economic development and high levels of curiosity for solving complex problems in development. The internship would involve assisting on the DQ team’s programmes, specifically around research and influencing best practice in FIS and GIS to improve understanding of the financial inclusion landscape. Current activities the intern is likely to work on include: 1. Improving FIS data and research reliability and relevance by reviewing existing survey instruments and creating one or more modules (such as digital financial services) that optimally cover content gathered from individual respondents through a pen-and-paper administered survey format. 2. Improving FIS data and research reliability and relevance by identifying potential innovations and best practices in survey research and elaborating on how these can be best applied to the FIS environment. 3. Piloting a Financial Inclusion module as part of an existing survey or using a new innovation. 4. Furthering GIS sustainability by documenting an innovating pilot on GIS data collection and identifying how this can be adapted and scaled in different countries. How does the completion of the internship assist the organization? The intern will work closely with other team members and the research activities outlined are key to the DQ team’s programme goals. There are therefore significant opportunities for interns to learn from experienced researchers, and to contribute towards reaching project, programme and company level objectives. What skills might the intern learn on the project? • Improved research, analytical, writing and presentation skills 2 • • • The importance of research and data analysis on informing regulation Gain in depth experience in the field of financial inclusion across emerging markets Capacity building skills in the financial sector What skills would the intern need to have, in order to undertake the project? Strong interpersonal skills, creativity and ability to mix with other people, particularly in an emerging market setting Resilience and tolerance for ambiguity and change Deep passion for inclusive innovation High energy levels with a bias for action Numerate and literate Good analytical thinking ability and quantitative analytical skills A strong interest in research-related activities Innovative, conceptual problem solver Dynamic, open minded and flexible Good writing and presentation skills and proficiency in MS office applications Stata would be an advantage Duration of placement The project is ideally 12-16 weeks duration, across May 2nd – September 2nd 2016. 3