REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES –
INDIVIDUAL CONSULTANT’S SELECTION)
ELECTRICITY RESTORATION AND MODERNIZATION PROJECT (GERMP)
Loan No./Credit No./ Grant No.: IDA- D6530
Assignment Title: Financial Management Specialist for Project Implementation Unit (PIU).
Reference No.: GM-NAWEC-387681-CS-INDV
The Government of the Gambia (GOTG) has received financing from the World Bank (IDA Grant D3090 and D6530), European Investment Bank (EIB), the European Union (EU) and the Government of The Gambia (GoTG) towards the implementation of the Gambia Electricity Restoration and Modernization Project (GERMP). NAWEC is now hiring an experienced Financial Management Specialist to work on project activities in the PIU
Financial Management Specialist
A Financial Management Specialist is needed to undertake 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.
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)
- 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.
- 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 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 donors.
- 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 and submit quarterly Interim Financial Report,
- prepare an annual financial report,
- prepare an annual special report on special account
- follow through on auditors’ recommendations
(3) Task: Relationship Management
- 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.
- 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 at least 8 years relevant post qualification 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;
- 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 a 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 17th November 2023.
Attention: Mrs. Haddy Njie – Project Coordinator
Address: National Water & Electricity Company Limited
Project Implementation Unit
Emporium III Building,
114 Kairaba Avenue
Floor/ Room number: Conference Room, 1st Floor
Country: The Gambia
Telephone: +220 3664125 / 3182113/ 7009342