Project Accountant

(NOTE: This is being done to update the system theadvertisment was already published last year, December, 2024)

COUNTRY: ZAMBIA

NAME OF PROJECT: GIRLS' EDUCATION AND WOMEN'S EMPOWERMENT AND LIVELIHOODS FOR HUMAN CAPITAL PROJECT

Credit No: P181391

Assignment Title: Selection of Individual Consultants

Reference No.: MCDSS/SWL/C/2024

Project Accountant (1)

Job Summary

The Project Accountant will be responsible for ensuring sound financial management of the PIU and implementing financial systems that ensure transparency, accountability and compliance with the financial management policies and guidelines. He/She shall also ensure effective use of project finances and that the financial management related to planning, budgeting, fund flow accounting, internal control (including internal audit), financial reporting, and external auditing are adequate. The position shall also be responsible for monitoring and identifying emerging risks.

Duties and Responsibilities

• Develop and implement financial management policies and systems;

• Prepare and monitor the project's budget, ensuring funds are allocated efficiently;

• Ensure that financial plans align with the project's objectives, disbursement plans, and operational needs;

• Monitor budget implementation, ensuring efficient use of funds and compliance with approved budgets;

• Conduct periodic budget reviews and adjust forecasts as necessary to reflect changes in project implementation;

• Prepare accurate financial reports for internal stakeholders, donors, and government authorities;

• Provide timely financial updates to project management for informed decision-making;

• Maintain a comprehensive financial management system for the SWL Programme ensuring that all financial activities are recorded accurately and on time;

• Oversee the preparation of financial reports, including monthly, quarterly, and annual financial statements;

• Prepare and submit Interim Financial Reports (IFRs) and Financial Management Reports (FMRs) to the World Bank and other cooperating partners;

• Ensure regular preparation of withdrawal applications for replenishment of the Designated Account or direct payment;

• Complete the Control 99 monitoring tool for tracking movement of funds from the US$ DA to the project operational account;

• Monitor the distribution of funds to ensure there are no leakages or mismanagement;

• Maintain an efficient cash flow management system to ensure that there are sufficient funds for project implementation at all times;

• Ensure compliance with donor agreements, local laws, and project guidelines;

• Coordinate external and internal audits and respond to audit queries;

• Implement recommendations from audits to improve financial management practices;

• Ensure compliance with the financial management guidelines and national laws governing public financial management;

• Ensure that financial records are in compliance with the World Bank financial management policies and International Public Sector Accounting Standard (Cash Basis);

• Design and implement robust internal control systems to minimize financial risks, including fraud, misuse, or inefficiencies;

• Ensure internal audit is regularly carried out to assess the efficiency and effectiveness of the financial management systems and its internal controls;

• Prepare annual financial statements for the project and provide all necessary information required by External Auditors so as to facilitate smooth auditing of the Project’s annual financial statements;

• Respond to issues raised in the Audit Management Letter and follow up on actions listed;

• Provide training and capacity-building support to regional and district finance teams to ensure that they understand and follow the financial guidelines of the project;

• Offer technical support to provincial and district staff on financial matters;

• Work closely with program managers, procurement officers, and other stakeholders to align financial management with project goals;

• Liaise with donors, financial institutions, and government bodies on financial matters;

• Collaborate with cooperating partners, including the World Bank, to address financial management concerns and provide updates on financial matters;

• Ensure effective coordination with the Procurement Specialist to align financial and procurement processes;

• Manage contracts with vendors and service providers, ensuring financial terms are clear and followed;

• Identify financial risks, fraud, or mismanagement risks within the project;

• Develop and monitor financial procedures and guidelines to ensure accountability and transparency;

• Conduct regular risk assessments and implement appropriate mitigation measures;

• Ensure that any irregularities in financial transactions are identified and addressed in a timely manner;

• Identify risks and put measures in place to mitigate financial irregularities;

• Undertake any other duties assigned by the supervisor.

Qualification, Experience and Key Attributes:

• Pull Grade 12 Certificate or Equivalent;

• Bachelor's degree in accounting/finance and a holder of a professional accounting qualification: such as ACCA (Association of Chartered Certified Accountants), CIMA (Chartered Institute of Management Accountants), (ZICA) Zambia Institute of Chartered Accountants or an equivalent;

• Should be a registered member of a recognized professional accounting body;

• Should have at least five (5) years post qualification professional experience in financial accounting and financial management;

• At least 2 years working experience as an accountant at a middle or senior management level in the public sector and at least another 2 years of experience working on projects financed by the World Bank or other International Financial Organizations is preferable;

• Competence in use of computerized financial management systems such as IFMIS, Navision etc.

• Excellent leadership, technical competence and professional skills for timely implementation, coordination and management of activities;

• Proven ability to effectively coordinate activities involving multiple disciplines and organizational units, as well as to maintain high service standards under pressure, and meet deadlines;

• Full English fluency, including report-writing skills;

• Computer literacy;

• Experience working with donor-funded projects, including those funded by the World Bank or other multilateral organizations is desirable;

• Strong knowledge of World Bank financial management guidelines and familiarity with public financial management principles;

• Proven track record in budgeting, financial reporting, internal controls, and fund disbursements;

• Experience working in social protection programs is desirable;

• Excellent skills in financial management software and/or Microsoft Dynamics 365 Business Central;

• Strong organizational, communication and leadership skills;

• Ability to manage teams and work in multidisciplinary teams.

REPORTING LINE: The Project Accountant will be reporting to the Project Manager and the Director of Finance.

Duration

• The assignment is expected to last for an initial period of two years, with the possibility of renewal based on performance and project needs.

Location

• The consultant will be based at the Ministry of Community Development and Social Services in Lusaka, with occasional travel to Provincial and district Offices.

Performance Evaluation

Annual performance evaluations will be conducted at the end of each year using established key performance indicators (KPIs) based on targets as set out in the AWPB, Project document and Individual workplans. The consultant will be expected to meet the performance standards as agreed. Failure to meet these standards may result in performance improvement plans or other disciplinary action.

Procurement method

The Consultant will be hired and contracted as per the “Individual Consultant (IC)” Selection method of World Bank Procurement Regulation (PR), September 2023.

Performance Evaluation

Annual performance evaluations will be conducted at the end of each year using established key performance indicators (KPIs) based on targets as set out in the AWPB, Project document and Individual work plans. The consultant will be expected to meet the performance standards as agreed. Failure to meet these standards may result in performance improvement plans or other disciplinary action.

Procurement method

The Consultant will be hired and contracted as per the “Individual Consultant (IC)” Selection method of World Bank Procurement Regulation (PR), September 2023.

The Ministry of Community Development and Social Services through the GEWEL 2 – SWL and Beyond, now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. The shortlisting criteria are: Educational qualification, experience (general & specific) and knowledge in project management of World bank projects.

The Consultants will be selected through the ‘Open Competitive Selection of Individual Consultants’ method in accordance with World Bank’s “Procurement Regulations, Revised September, 2023 (“Procurement Regulations”).

The attention of interested Consultants is drawn in particular to:

• Section III, paragraphs, 3.14, 3.16, and 3.17 of the Procurement Regulations setting forth the World Bank’s policy on Conflict of Interest, and

• Section III, paragraphs, 3.21-3.24 of the Procurement Regulations setting forth the World Bank’s policy on Eligibility, including the specific pre-requisite conditions to be met for the eligibility, on exceptional basis, of Government officials and civil servants of the Borrower’s country under consulting contracts in the Borrower’s country.

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