South Asia PRIMA Monitoring 2008 Fiduciary Forum
Roles of PRIMA in SARFM PRIMA is the key depository of official investment lending data guided by: FM Manual SARFM Quality Guidelines (SARFM ARCS & IRIS Guidelines) Institutional memory for SAR & OPCFM Supervision planning & issues Trying to minimize use of ARCS as repository Workflow, tracking, and tickler system
SARFM Progress All investment lending projects data Revamping QA FMS roles QA assigned by project, not by country No hub concept Matching PRIMA w/FM Assessments Data scrubbing underway Missing, incomplete, errors Trouble shooting FMR tracking in early stages
Monthly Exception Reports SARFM centrally distributes PRIMA reports Missing FM risk rating, High risk projects FM ISR ratings, Overdue supervision Proactive and reactive, top down and bottom up ARCS (~8 reports) Missing initial data Audits not received, reports received but not reviewed Bank PRIMA Coordinator distributes ad hoc reports Country systems, FMR required, Operational Review required
FMSs Proactively Track Their Own Portfolios Supervision due dates FMR due dates ISR rating differences Missing risk ratings High risk projects Other
Fiduciary Portfolio Reviews Manager meets with country teams twice per year Review all PRIMA and ARCS exceptions Validate FM risk & ISR ratings Note gaps, trends, inconsistencies Explore staffing options Rationalize risk & ISR ratings, workloads
Roles of SARFM Staff in PRIMA Project FMSFM ManagerQA FMSPeer ReviewerFM AsstRegional Admin Responsible for projects. Projects can be from any country. This data is derived from SAP. Can enter data in the Risk and Portfolio module for a project. They can also approve L & M Risk Projects Responsible for review an approval of High Risk & Substantial Projects and provide comments. Determines if the project will fall under “H or S Risk” category and assigns critical flag to them. When assigned, responsible for Quality Assurance. FM Manager assigns the QA FMS for each H & S project. QA FMS will review the projects assigned and approve or rejects them and provides comments. Cannot enter data for projects Reviews the project and provides the comments. Peer Reviewer can be set for Pipeline status of Active status. Can assist the Project FMS by entering data (Risk Module, FMR Data etc). Can enter data and save but cannot approve. Can provide roles to others in the region, give and remove roles to staff from the application. Can access to assign the critical flag to a country or a project