Recruitment of a Financial Management Specialist — Tourism Recovery, Diversification & Resilience in the Gambia Project

REQUEST FOR EXPRESSIONS OF INTEREST (REOI)

Country: The Gambia

Project: Tourism Recovery, Diversification & Resilience in the Gambia Project

Loan No.: IDA-V4190

Assignment Title: Recruitment of a Financial Management Specialist

Reference No. : GM-MOEA-275755-CS-INDV

The Projects Coordination Unit (PCU), Ministry of Finance & Economic Affairs has received funding from the World Bank toward the cost of the Tourism Recovery, Diversification & Resilience in the Gambia Project, and intends to apply part of the proceeds for consulting services.

The consulting services (“the Services”) include the following responsibilities:

He/she will carry out his/her responsibilities according to operating procedures as defined in the project’s manuals including the World Bank guidelines e.g., Procurement, Disbursements, Designated Accounts, SOEs, etc. also liaising with all stakeholders on relevant financial matters.

The Financial Management Specialist who will be based at the Project Implementation Unit will be answerable to the Project Coordinator.

Duties

The Financial Management Specialist is responsible for supporting the project coordination team in all aspects of financial management and monitoring of project funds with a view at ensuring a transparent and efficient financial management system for the Project. The FMS will report directly to the Project Coordinator and will be responsible for managing and monitoring effective maintenance of books of accounts.

Tasks and Activities:

The specific tasks and activities of the Financial Management Specialist will be as follows:

(1) Task: Administration and Team Management (Finance and Accounts Department)

Activities:

• Co-ordination of administrative matters relating to the accounts department.

• Carry out induction of new finance staff, performance management and discipline, creation of an enabling environment.

• Ensure compliance with accounts and finance procedures.

• Oversee on behalf of the Project Coordinator and fully participate in the development of a Financial Management Information System to be financed under the project.

• Other administrative duties as may be delegated by the Project Coordinator.

(2) Task: Accounting records, Financial Control and Preparation of financial reports.

Activities:

Establish and maintain suitable systems of internal control (including approval and authorization controls, bank reconciliation statements, fixed assets management, inventories management and distribution, etc )

Prepare, monitor and control annual budgets, quarterly and annual financial statements, as well as reporting on material variances, recommending remedial action, as appropriate, within an agreed time frame :

serve as liaison to other implementing entities for all budget matters

provide the coordinator and implementing entities with all the information needed to prepare annual budgets based on a specific time line of activities

compare the annual budgets presented by implementing entities with the project’s initial or updated budget allocations and, if necessary, coordinate budget arbitration sessions

monitor funding agreements signed with donor.

Ensure that all accounting records and bank accounts are up-to-date using a computerized system:

identify and propose proper posting of the different types of transactions

monitor the status of commitments per category and per activity

ensure that accounting ledgers and papers are well maintained

receive and classify accounting records.

Ensure monthly production of Withdrawal applications and Bank reconciliations for the Project

ensure that documentation of replenishment and reconciliation of physical petty cash to accounting records are carried out at least twice weekly.

review, sign and submit petty cash reconciliation to Project Coordinator monthly.

ensure that bank statements are reconciled with accounting records at least monthly.

review, sign and submit bank reconciliations to Project Coordinator at least monthly.

Ensure the project’s proper cash management:

obtain and verify documentary evidence of project expenses and prepare for their settlement

prepare and monitor Applications for Withdrawal of Funds to be sent to IDA

prepare a quarterly cash budget for the entire project

Prepare the information and documents needed for audits and financial oversight:

prepare a annual financial report,

prepare an annual special report on special account

follow through on auditors’ recommendations

(3) Task: Relationship Management

Activities:

• Development partners & GOTG: initiate correspondence on financial matters for endorsement by Project Coordinator.

• Auditors: liaise with external auditors to facilitate timely completion of external audits.

• Banks: liaise with banks to ensure accuracy, timeliness of service and initiate correspondence for endorsement by Project Coordinator.

• Others: participate in external meetings & forums as directed by Project Coordinator.

The Financial will report to the Project Coordinator and submit quarterly financial reports to the same entity.

Professional Qualifications

Must be a professional accountant (ACCA, CIMA, ICAEW etc) with at least 5 years relevant post qualification experience; or

A holder of a Master’s degree in Accounting / Finance from a recognized university, with 8 years relevant post qualification experience or ACCA with 5 years experience.

• Have a minimum of five years of experience in financial and accounting management position with private accounting or possess experience in handling finance and accounting responsibilities; experience in a World Bank-funded project is a major advantage;

• Possess good computer skills; experience in using a financial and accounting management software program may be required;

• Display professional integrity and the ability to coordinate team activities;

Performance Criteria

Quality of budget, financial and account monitoring within the project;

Compliance with the project’s financial and accounting information deadlines;

Quality of cash management within the project;

Quality of monitoring of internal control procedures;

Quality of Financial Monitoring Reports (FMR);

Submission of annual accounts to the auditors not later than the end of March;

Approval of annual accounts, certified statements of expenditures and Special Account transactions by external auditors, and transmission to the World Bank not later than June for the period ending in December of the previous calendar year.

All report should be prepared in English.

Terms of the Assignment

The Consultant shall be engaged on full time basis. . The initial appointment will be for a period of six (6) months. Subject to performance evaluation, the FM Specialist will be appointed for a period of one (1) year, renewable on the basis of good performance.

The remuneration will be paid on a monthly basis.

The Consultant will be offered opportunities to develop professionally by attending relevant training events and courses during the term of the contract.

The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” November 2020 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

A Consultant will be selected in accordance with the Individual consultants selection method set out in the Procurement Regulations.

Further information can be obtained at the address below during office hours from Monday-Thursday 09:00am to 1600 pm, Friday 09:00 to 12:00pm Gambian time.

Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by 14:00pm Gambian Time on Thursday 24th March, 2022.

Projects Coordination Unit (PCU)

Ministry of Finance & Economic Affairs (MoFEA)

Attn: Mr. Saffie Dambelleh, Project Coordinator

C/o MOTIE Building M, Independence Drive, Banjul.

Tel: +220 4223301 (Office) +220 4223304 (fax)

E-mail: [email protected], [email protected] ; [email protected]