Team Grace Retnowati


Senior Manager - Country Development- Indonesia
Jakarta, Indonesia

Grace Retnowati is Principal Consultant and a financial services consultant with over 15 years of experience working on banking and financial sector. She is currently associated with MicroSave as Country Head-Indonesia where she is managing a multiple technical assistance projects, funded by Cordaid and Rabobank Foundation, Solidaridad, Opportunity International Australia (OIA),  VISA, etc aimed at building the institutional capacities of partner MFIs, cooperatives, banks and telco companies to increase their outreach to underserved regions and population segments, develop products, and improve efficiencies. Her area of expertise includes G2P programs, delivery channel design, costing and pricing, product development, value chain assessment, risk management services.
Some examples of her past work include:
  • Survey of Potential Payment Options for G2P in Papua and West Papua in Indonesia for TNP2K, funded by GRM International: Identify current payment availability and potential options which promote accountability, cost efficiency and financial inclusion of G2P-PKH, BSM, other social protection program and other payments, including teacher and midwives salary payments. (2014- on-going)
  • Indonesia: Capacity Building Need Assessment of an MFI in Indonesia for CUKK, funded by CUKK and Solidaridad: Identify and understand some of the core systemic issues leading to the high NPL faced by CUKK and identify the TA requirement for capacity building of CUKK’s staff to address the issues. (2014)
  • Due Diligence for MFIs in Indonesia, funded by Opportunity International Australia: Assessing the operational and financial performance of the institutions, mission alignment, quality of loan portfolio, and adequacy of operational structure. (2013)
  • Feasibility Study for New Delivery Channels for a Venture Capital in Indonesia, funded by Incofin: Planning, supervision, assuring quality control of the deliverables and provided guidance to the project team. (2013)
  • IFC Regulatory Review of M/Branchless Banking in Indonesia, funded by  IFC: Working with Consultants coordinatingthe regulation and oversight workstream of the study, facilitatingthe high level meetings between the Consultant’s team with various division within the Bank of Indonesia and related departments within government of Indonesia including the Senior Officials of Bank Indonesia, Department of Telecommunication, Ministry of Finance and a division of Vice President Office (TNP2K). (2012)
Prior to joining MicroSave, Grace worked with IFC Indonesia for about 8 years where she handled projects across various sectors and sub-sectors.  Grace has delivered several trainings on financial management, financial analysis and operation risk management to banks and MFIs. She holds a Bachelor’s Degree in Agriculture from the University of Brawijaya, Malang, Indonesia and a Master’s Degree in Banking and Finance, University of Indonesia, Jakarta. Her credentials are reflected in the IFC Performance Evaluation Award, 2007 and IFC Spot Award, 2009 that she received for her diligent efforts.