Project Name
Internal Auditing Services
Consultancy Services - Risk Management Assessment
04:30 PM
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The Caribbean Development Bank (CDB) is inviting qualified consultants to submit an Expression of Interest and Statement of Capability to assess CDB’s risk management processes by identifying the principles at work in CDB’s risk management process, and then evaluate whether those principles are appropriate and effective.  The overall objective of the assessment is to provide insight to senior management and the board regarding the maturity of the organisation’s risk management and whether it corresponds to their expectations when the risk management framework was established in 2012.

Consideration will be limited to qualified consultants which are legally incorporated or otherwise organised in an eligible country and have their principal place of business in an eligible country. In all cases, the supplier should have no arrangement and undertakes not to make any arrangement whereby any substantial part of the net profits or other tangible benefits of the contract will accrue or be paid to a person or persons not a citizen(s) or bona fide resident(s) of an eligible country.

For the purposes of this engagement, eligible countries are CDB Member Countries.

CDB hereby invites qualified consultants who are interested in undertaking these services, to submit information in the questionnaire mentioned below and in addition their Expression of Interest must provide information to satisfy the following requirements:

  1. have the ability to conduct the audit following the standards and Guidance included in the International Professional Practices Framework;
  1. have the ability to conduct the assessment based on the Risk Management professional standards framework or the ISO 31000 international standard for effective risk management; and
  1. be experienced in performing risk management assessment for multilateral banks and/or international commercial banks.


Eligible countries are CDB Member countries these can be found in the following links



Qualified consultants are required to submit an electronic Expression of Interest, which shall include a completed copy of a questionnaire and required information to the Head - Internal Audit, CDB via the e-mail address provided below, in a pdf or equivalent non-editable format. Copies of the questionnaire are available on CDB’s website.  

After evaluation of the information submitted, a shortlist of not less than three (3) and not more than six (6) consultants will be selected and invited to submit a combined technical and financial proposal for the provision of the services. The terms of reference for the services will be made available to the shortlisted firm for the selection method shall be Consultants’ Qualifications selection.  Therefore, following the assessment of submissions, firms shall be assessed and compared, and the best qualified and experienced firm shall be selected. Only the selected firm shall be asked to submit a combined technical and financial proposal and, if such proposal is responsive and acceptable, be invited to negotiate a contract.

The approximate date for commencement of the services is expected to be June 15, 2022. CDB shall not be bound to assign any reason for not shortlisting any applicant and shall not be responsible for any costs incurred by applicants.

All submissions are to be in English and must be received by the Head – Internal Audit via email at by close of business in Barbados on April 29, 2022; please use Expression of Interest for Internal Auditing Services as the subject line of your submission.  Any enquiries can be made to or by phone at 1-246-539-1921.



Internal Audit



Telephone: 1-246-539-1921