Job Description
Government of the Republic of Malawi Roads Authority (Malawi)
REQUEST FOR EXPRESSION OF INTEREST (INDIVIDUAL CONSULTANTS SELECTION)
(Appointment Type: Local Hire)
COUNTRY: MALAWI
NAME OF PROJECT: RESILIENT AND STRATEGIC TRANSPORT OPERATIONAL ENHANCE PROJECT– RESTORE
IDA NUMBER: IDA – V5160
PROJECT ID: P500625
ASSIGNMENT TITLE: FINANCIAL MANAGEMENT SPECIALIST
REFERENCE NUMBER: MW-RA-430920-CS-INDV
DATE OF ISSUE: 14th AUGUST 2024
1. Background
The Government of Malawi (GoM) through the Ministry of Finance (M1. BackgroundoF) has applied for financing toward the cost of the Resilient and Strategic Transport Operational Enhance Project (RESTORE). The Roads Authority (RA) as the implementation agency intends to apply part of
the proceeds of this financing to eligible payments under the contract for hiring a Financial Management Specialist.
The RA invites applications from suitably qualified and interested candidates to fill the post of Financial Management Specialist, recruited as individual consultant following World Bank Procurement Regulations dated September 2023.
Post Title: Financial Management Specialist (1 Post)
Time Commitment: 100%
Accountable: Project Coordinator
Duration of Assignment: 5 years
2. The Objectives of the Assignment
The overall objective of the assignment to assist the RESTORE PIU for ensuring the effective, efficient and transparent management of the financial resources allocated to the project in strict compliance with existing legislation, combined with the management standards set out in World Bank procedures.
3. Duties and Responsibilities
The Financial Management Specialist will be responsible for all accounting, internal control and other financial management within the PIU. Specifically, the Financial Management Specialist will:
a) Preparation of consolidated Financial Statements in accordance with the International Public Sector Accounting Standards (IPSAS) that give true and fair view of the financial position of the Project at the end of the financial year;
b) Prepare the procedures and documentation relating to the budgetary and financial management for the implementation of activities under the Project to be approved by the PIU, taking into account world bank rules and current financial management standards;
c) Budget preparation, execution and monitoring including liaising with Sector Specialists and relevant cost centres for budget planning and execution;
d) Ensure that the Project resources are used in accordance with the conditions of the relevant financing agreement, with due attention to economy and efficiency, and only for the purposes for which the financing was provided;
e) Ensure goods, works and services financed have been procured in accordance with the relevant financing agreements including specific provisions of the World Bank Procurement Policies and
Procedures;
f) Verify the contractual and financial details of each invoice, payment requests and interim or final itemised statement of account before making any payment;
g) Preparation of disbursement requests and financial justifications for the project and submit to Treasury and the World Bank;
h) Prepare cash flow forecasts in coordination with the Project Coordinator;
i) Produce monthly, quarterly, semi-annual and annual account reports from central and district levels, as part of the implementation of the Project;
j) Ensure that all necessary supporting documents, records, and accounts with physical documents have been maintained in respect of all project activities, including expenditures reported using Statement of Expenditures (SEO) or Interim Financial Reports (IFRs) methods of reporting.
k) Ensure all financial reports are in agreement with underlying books of account;
l) Ensure national laws and regulations have been complied with, and that the financial and accounting procedures approved for the Project (e.g. Operational Manual, financial procedures manual, etc.) are followed and used;
m) Periodically review the performance of control functions to ensure that internal controls are sufficient and functioning correctly;
n) Ensure that the Financial Performance of the Project is Satisfactory;
o) Ensure that assets procured under the Project exist and there is verifiable ownership in line with the relevant financing agreements;
p) Establish central accounting filing system, and ensure all project documents are properly retained in accordance with GoM and Bank requirements;
q) Coordinate as necessary with Internal and External Audit, GoM and Bank supervision missions, including attending to follow up on findings and recommendations;
r) Maintain accurate and traceable schedules for VAT and timely
remittance of tax deductions to the Malawi Revenue Authority;
s) Advise the Program Coordinator on all financial and control considerations of the project;
t) Supervise and strengthen the capacity of PIU in the knowledge of the rules and procedures of the financial management of the World Bank; and
u) Undertake all other duties and responsibilities commensurate with the role and level of this position as may be requested by the Project Coordinator.
v) S/he will also be responsible for supervision of the other finance officers in the secretariat, the Project implementing agencies and their field offices, and work closely with Director of Finance and
Project Accounts Assistants in District Councils where the Project is implementing its activities to ensure districts are in compliance with the Project Implementation Manual.
4. Reporting Requirements
The Financial Management Specialist will be directly reporting to the Project Coordinator. The performance of the Financial Management Specialist will be regularly assessed against performance criteria that will be agreed within one month of taking up the positions.
The Financial Management Specialist will produce the following reports:
a) Fortnight reconciliation of reports indicating progress of work and plans for the next fortnight;
b) Monthly financial reporting including bank reconciliations;
c) Quarterly financial reports to the World Bank;
d) Annual financial reports; and
e) Completion reports following all key financial special assignments.
5. Qualification and experience
The candidate should meet the following minimum qualifications:
a) Professional Accounting qualification, CPA (MW), ACCA, CIMA.
b) Bachelor’s degree in Accounting and Finance or equivalent. A relevant master’s degree will be an advantage.
c) At least 10 years of post-qualification experience in financial management in a reputable and highly performing public sector organization. Those with audit experience and experience of managing donor funded projects would have an added advantage.
d) Must be a member of the Institute of Chartered Accountants in Malawi (ICAM).
e) Demonstrate extensive practical experience and knowledge in all aspects of international financial management that govern the financial management rules of the State and the World Bank is an
advantage;
f) Outstanding numeracy, planning, organising and controlling skills.
g) Excellent leadership, organizational and interpersonal skills.
h) Excellent communication and analytical skills.
i) Ability to work in teams and articulation with public and private entities.
j) Proficiency in information and communication technologies. Good knowledge of MS Office application and Project Computerized Accounting.
k) Ability and experience in training staff in the area of financial management is an advantage;
l) Knowledge of audit techniques.
m) Ability to work under pressure and independently.
n) Fluency in written and oral communication in English is required.
6. Performance Criteria
The following performance criteria will be used to assess the performance of the Financial Management Specialist at annually and based upon these assessments the contract with the Project may be continued or terminated:
a) Ability to evaluate all financial and transaction data for accuracy and implement corrective action wherever necessary;
b) Preparation of financial reports for program specialists for planning and informational purposes;
c) Performance of all finance related studies to determine updated financial requirements and anticipate required changes in administration;
d) Administering effective budget execution, performing audits on fund usage and maintain internal controls; and
e) Developing long term financial objectives, instructions and procedures to ensure proper coordination.
7. Duration of the assignment
The assignment is for an initial period of one year in the Project Preparatory Activities and will thereafter be extended for the entire period of project implementation of 5 years. The contract will be
renewable annually subject to satisfactory performance, need and availability of funding.
8. Facilities to be provided by the Client
The Client will provide office space, furniture, office equipment, communication, and internet facilities. For all field related assignments, the Project shall provide transport and costs and other expenses (per Diems etc.) related to the fieldwork.
9. Location of Employment
The Financial Management Specialist will be based at the PIU Office in Lilongwe but would be required to travel regularly to other relevant field offices where the Project is implementing its activities.
10. Mode of Application
Interested Individuals meeting the stated requirements should submit their Expressions of interest including updated detailed Curriculum Vitae (CVs) and copies of professional certificates must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by Wednesday, 28th August, 2024 on or before 16:00 hours, local time.
The Project Coordinator,
Resilient and Strategic Transport Operational Enhance Project
Roads Authority
Functional Buildings
Private Bag B346
Lilongwe 3
MALAWI.
Attention: The Procurement Manager
Email: ipc@ra.org.mw copy schipala@ra.org.mw