Recruitment of Financial Management Specialist for GERMP Project

Original title: Recruitment of Financial Management Specialist for the P.I.U

Deadline

November 30, 2023

Closed

Published on November 15, 2023 at 12:00 AMModified on June 20, 2026 at 01:09 AM

Key information

Type: Audit & Finance
Location: Gambia, The
Deadline: November 30, 2023 at 12:00 AMClosed
Estimated Value: Not disclosed
Language of Notice: English

What is this tender about?

Recruitment of Financial Management Specialist for GERMP Project is an audit & finance procurement opportunity published by NATIONAL WATER AND ELECTRICITY COMPANY in Gambia, The on November 15, 2023. Submissions closed on November 30, 2023. 1 official document is attached below.

Carry out approving officer functions in accordance with financing agreement, approved manuals and procedures. • Ensures that all financial management procedures put in place are always in conformity with the PIM and financing agreements and the World Bank’s policies and procedures. • Propose/ review recommendations to amendments and updates to the procedures to the PIM and other implementation manuals/ procedures. • 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 timeline 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. 6. 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. 7. 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. 8. Prepare the information and documents needed for audits and financial oversight: • Prepare and submit quarterly Interim Financial Report,
prepare an annual financial report,
prepare an annual special report on special account. • Draft audit responses and ensure the audit report is submitted to the bank on time. • follow through on auditors’ recommendations. 9. Fixed assets management
Maintained a comprehensive fixed asset register. • Ensure all assets are coded and maintained in good working condition. • Oversee the annual verification of fixed assets. (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 Management Specialist will report to the Project Coordinator and submit quarterly financial reports to the same entity. Professional Qualifications • Must be a professional accountant (ACCA, CPA, 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 at least 8 years relevant post qualification experience
A minimum of 5 years’ experience in financial management of World Bank funded projects and financial reporting compliant with cash basis IPSAS. Experience management a finance unit will be an added advantage. Possessing 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. Deliverables The FMS has responsibility for the preparation and submission to project coordinator for approval and onward transmission to IDA, NAWEC and Government (where applicable), the following financial reports: • Annual Financial Statements and Project Accounts for review and expression of opinion by external financial auditors. • Quarterly Financial Monitoring reports in accordance with prescribed IDA format. • Regular Cash flow projections of the project in line with the Implementation plan
Quarterly Budgetary Control Report explaining variances to that effect. • Any other deliverables required. 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. Assessment Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview. Terms of the Assignment The Consultant shall be engaged on full time basis. The initial appointment will be for a period of one year renewable subject to satisfactory performance evaluation. • 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” July 2016 and revised November 2017 and July 2018 and 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 Consultant selection method set out in the Procurement Regulations. Further information can be obtained at the address below during office hours from 08:00 to 16:00. Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by fax, or by e-mail) by close of business 30th November 2023. Managing Director Attention: Mrs. Haddy Nji

What are the key dates?

Publication
November 15, 2023
Bid Submission Deadline
November 30, 2023
Evaluation & Award
Pending
Contract Signature
Pending

Procuring Entity

Name: NATIONAL WATER AND ELECTRICITY COMPANY
Country: Gambia, The
Contact person: Haddy Njie
Phone: Create a free account to view

Which documents are available?

Tender Details
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