Expression of Interest For Selection Of Financial Management Specialist (1)

Tender Detail

The World Bank Group
Expression of Interest For Selection Of Financial Management Specialist (1)
Southern Asia
South Asian Association for Regional Cooperation (SAARC)

Work Detail

Expression Of Interest Are Invited For Selection Of Financial Management Specialist (1). The Responsibilities/ Accountabilities Of The Financial Management Specialist Includes, But Not Limited To, The Following: The Fms Will Take Overall Charge Under The Leadership Of The Pd Of The Project In Accounting And Financial Management; And Conduct The Tasks To Ensure Transparent And Accountable Financial Management By Applying Sound Technical Practices And Methods, And Collecting And Making Use Of Available And Necessary Data In Carrying Out The Assignment; Be Responsible For Preparing All Financial And Accounting Documents In Line With World Bank Guidelines And Public Procurement Rules. The Consultant Shall Maintain Financial Records And Monitoring Systems To Record And Reconcile Expenditure, Balances, Payments, Statements And Other Day To Day Transactions And Reports; Ensure That All Financial Management Components Of Projects Are Implemented According To Development Partners And The GovernmentS Finance And Expenditure Management Law And Regulations; Prepare The Financial Management Reports (Fmrs), Statement Of Expenditure (Soe) And Bank Reconciliation Statements As Well As Other Periodic Financial Statement; Prepare Project Financial Management Reports For The Pmu, Dte, Tmed/Moe, Erd, Imed, Planning Commission, Implementing Partner Agencies, The Project Implementation Committee And The Project Steering Committee; Processing Of All Payments To Contractors, Institutions, Individual Consultants And Firms; Preparing Annual And Revised Budgets And Designing And Implementing Budget Monitoring Systems And Procedures; Reconcile All Reports With Implementers, World Bank And Tmed And Mof; Receive Financial Reports From Beneficiary Institutions, Compile And Collate Them And Report To The Pd Pmu, And Other Oversight Committees In Detailed Formats Showing Institution-Wise Financial Performance As Appropriate; Prepare Detailed Fund Flow And Cash Flow Statements And Monitor Them And Report To Project Director; Prepare And Submit Withdrawal Applications For World Bank Funds; Obtain Quarterly And Semi-Annual Fund Releases From The Government; Develop A Comprehensive Chart Of Accounts; Ensure The Protection Of Project And Tmed/Moe And Other Partner Ministries Assets (Cash And Inventory) Through Preparation Of Appropriate Books (Fixed Assets Register And Cash Books); Enforce Internal Control Policies And Procedures; Initiate And Implement/Facilitate Computerization Of Project Accounts; Interfaces With Internal And External As Well As Third Party Auditors; As And When Suggested By The Project Director, Undertake Field Visits To Verify Assets, Perform Internal Audit And Assure That Beneficiaries Are Using The Funds Appropriately Provided To Them, Having Regard To Prudence And Propriety; Review All Available Project Documents To Facilitate The Establishment Of Accounting And Financial Management Procedures For The Projects Management And Implementation, Including A Simple Tracking System To Monitor The Implementation Of Accounting And Financial Management Activities; Set Up, Monitor And Update Systems And Procedures So That The Project Is Managed In The Manner Agreed Upon In The Grant Agreement So Far As Accounting And Finance Are Concerned, And Accounting And Financial Reports To Ida Are Sent Out In A Time-Bound Manner; Ensure All Accounting And Financial Controls As Required By The Ida Are Fully Complied With; Supervise The Functioning Of The Accounting Database Of The Pmu And The Partner Agencies After The Same Is Implemented To Ensure That Adequate And Accurate Accounting Data Flow Is Maintained; Assist In Carrying Out All Cost-Accounting Related Exercises From Within The Pmu; Assist Beneficiary Institutions In Terms Of Accounting And Financial Management Advice Wherever Necessary; Assist In The Evaluation Of Expressions Of Interest For Shortlisting And Prequalification Of Suppliers And Contractors Where Necessary; Assist In Carrying Out Fm Reviews By The World Bank; In Cases Of Accounting And Financial Management Actions Requiring Ida No Objection, Coordinate The Dispatch Of Accounting And Financial Management Documents To Ida, Monitor Ida Response Time On Issuing No Objections At Different Levels Of The Accounting And Financial Management Process And Follow-Up Accordingly; Monitor And Ensure Timely Responses To Accounting And Financial Management Questions Raised By The World Bank; Provide Concurrence To Contract Drafts And Other Documents Having Fiduciary Implications; Establish A Financial Performance Database Both For The Project As Well As For Beneficiary Institutions And Keep The Database Updated; Liaison With All Relevant Stakeholders To Assure That There Are No Outstanding Grievances From Their Side And That They Have A Perception That Accounting And Financial Management Activities Are Being Performed Effectively; Establish And Maintain A Central Accounting And Financial Management Filing System, And Ensure All Related Documents Are Included In The Respective Files, To Ensure Ease Of Retrieval Of Information And The Ease Of Following The Paper Trail Of Accounting And Financial Management By Independent External Auditors, Authorized Agents Or The World Bank Staff During Post-Accounting And Financial Management Reviews; Build Up Capacity Of Accounts And Finance Department Staff. In This Connection, Provide Support And Training To The Various Pmu/Dte And Line Agencies Staff Involved In The Project On The Operation Of The Procedures Outlined In The Project Implementation Manual (Pim), And Provide Training; The Financial Management Specialist Will Be A Part Of The Core Senior Management Team In The Pmu. It Will Assist The Project Director As Well As The Dg, Dte In Managing Donor Funds And The Taking Of Appropriate Financial Decisions. Keep The Line Agencies Fully Updated On The Financial Issues; The Tmed Also Expects The Fms To Be The Whistleblower In Cases Of Non-Compliance With Financial Rules And Cases Of Financial Impropriety. The Fms Will Also Oversee And Coordinate The Work Of Other Consultants And Stakeholders Whose Involvement With The Project Has Financial Management Or Fiduciary Implications

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