Scotiabank Enterprise-Wide Risk Management Program for SMEs

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Purpose

Implement an upgraded business and risk rating system for SMEs in Scotiabank Jamaica, based on the pilot Enterprise Risk Management and Financing Program (ERMFP), and to adjust Scotiabank Jamaica’s SME appraisal process accordingly

Status

Status

Approved

Status

Approval Date

August 23, 2012

Status

Type

Technical Cooperation

Status

Project Number

JA-M1027, ATN/ME-13394-JA

Financial Information

MIF Counterpart
Disbursed Amount $463,181.51 $307,126.20
Available amount $0.00 $112,873.80
TOTAL: $463,181.51 $420,000.00

Timeline

Description

Goal

Increase access to finance forSMEs in Jamaica, using aninnovative risk management andrisk rating model

Purpose

Implement an upgraded business and risk rating system for SMEs in Scotiabank Jamaica, based on the pilot Enterprise Risk Management and Financing Program (ERMFP), and to adjust Scotiabank Jamaica’s SME appraisal process accordingly

Components

  • Adjusting and refining the SME loan appraisal process with enhanced risk management: Adjusting and refining the SME loan appraisal process with enhanced risk management
  • Staff training program: Staff training program
  • Risk management awareness and capacity building for SMEs: Risk management awareness and capacity building for SMEs
  • Documentation of the business case for possible replication and dissemination of lessons learned: Documentation of the business case for possible replication and dissemination of lessons learned

Indicator Achieved Status Baseline Intermediate values Final target
1.1. 12 months into the project, necessary adjustments to the existing loan appraisal process have been made, including adaptations to the methodology to effectively assess women business owners.

1 Finished 0 0 1
1.2. Business and Credit Risk Rating Methodology

1 Finished 0 0 1
1.3. Knowledge Transfer Workshop

1 Finished 0 0 1
1.4. Analysis and upgrade of Scotia Bank Jamaica's current risk management policies and practices

1 Finished 0 0 1
Indicator Achieved Status Baseline Intermediate values Final target
2.1. 12 months into the project, each branch office has at least 1 trained staff, and the headquarters has at least 2 corporate staff trained with materials developed under this component

136 Finished 0 0 3
2.2. Design and Development of materials for business and credit risk rating methodology, including elements directly targeting the rating of female clients

1 Finished 0 0 1
2.3. Design and development of materials for SME finance products, including materials on women's and men’s SME financing needs

1 Finished 0 0 1
2.4. Updated Loan Officer Performance Evaluation system

1 Finished 0 0 1
Indicator Achieved Status Baseline Intermediate values Final target
3.1. 12 months into the project, the baseline has been completed

1 Finished 0 0 1
3.2. At project completion, 150 SMEs have received business and credit risk rating; at least 30% are women-owned

719 Finished 0 0 150
3.3. Project Launch Event

52 Finished 0 0 1
3.4. Awareness Seminars

574 Finished 0 0 300
3.5. Capacity Building Services for SMEs

1000 Finished 0 0 150
3.6. Mentoring SMEs for accessing Scotia financing

101 Finished 0 0 75
3.7. Monitoring System

1 Finished 0 0 1
Indicator Achieved Status Baseline Intermediate values Final target
4.1. Regional Dissemation Workshop

1 Finished 0 0 1
4.2. Documenting Case Studies

4 Finished 0 0 4