THE FEDERAL MINISTRY OF FINANCE (FMOF)
THE FEDERAL GOVERNMENT OF NIGERIA
THE FEDERAL MINISTRY OF FINANCE (FMOF)
SUPPORT TO THE HOME FINANCE DEPARTMENT
REQUEST FOR EXPRESSION OF INTEREST FOR THE ENGAGEMENT OF A FINANCIAL MANAGEMENT CONSULT FOR THE SFTAS PROGRAM
1. The Federal Government of Nigeria has agreed with the World Bank on a multi-year (2018 – 2022) program to support Nigerian states to strengthen fiscal performance and sustainability: The State Fiscal Transparency, Accountability and Sustainability (SFTAS) Program for Results (“The Program”).
2. The Home Finance Department (HFD) in the Federal Ministry of Finance (FMoF) will house the SFTAS Program Coordination Unit (PCU). The PCU’s key functions are to:
i) Coordinate state capacity building activities delivered by different implementing agencies;
ii) Conduct communications and outreach activities for the Program;
iii) Conduct monitoring and evaluation activities for the overall Program;
iv) Disburse P for R financing to the states on the basis of the verified results from the independent verification agent (IVA);
v) Provide accounting and reporting for the Program;
vi) Act as the interface with the Bank’s supervision and implementation support team; and
vii) Act as the secretariat for the Central Steering Committee. The Program’s technical assistance component will provide financing to FMoF to recruit several consultants to work alongside Ministry staff to carry out the PCU’s key functions.
3. The FMoF has identified the need to engage an experienced Consultant as the Financial Management Specialist for the SFTAS Program in the PCU during the Program’s implementation.
4. The principal role of the Financial Management Consultant will be establish and maintain a financial management system for the implementation of the SFTAS Program, including budgeting, disbursement, accounting, internal controls, financial reporting and audits, and will liaise with the Program Manager on all financial matters relating to the project, in compliance with the World Bank’s requirements and procedures. The Financial Management Consultant is also expected to help build the capacity to the HFD in financial management of World Bank projects.
5. The Financial Management Consultant is expected to conduct/implement the following key operational activities that include, but are not limited to the following:
• Contribute to the preparation of the financial management sections of the Program Operational Manual (POM), make inputs to the financial installed control arrangements and procedures;
• Establish and maintain a financial management system for the implementation of the SFTAS Program;
• Establish and maintain an adequate project accounting system that will produce financial statements in line with International Public-Sector Accounting Standards;
• Maintain and update all books of accounts and records promptly in line with international accounting standards and project financier requirements;
• Ensure payments are only made for eligible expenditures that are properly substantiated and in line with the Financing Agreement for the SFTAS Program;
• Ensure relevant books and records are maintained, including appropriate records for advances;
• Oversee the preparation for monthly bank reconciliation statements of project bank accounts;
• Compute the PforR disbursements due to participating states based on the verified results of the annual performance assessments;
• Prepare and submit withdrawal applications on regular basis to WB in line with applicable procedures;
• Support the PCU in preparing annual work plan and budgets for the TA component/project. prepare and submit periodic unaudited interim financial reports (monthly, quarterly/calendar semester, annually), Interim Financial Reports and input to project progress reports within stipulated submission deadlines and in formats agreed with the Bank;
• Ensure the annual financial statements are audited and submitted within the stipulated submission deadline to the project financiers.
Follow up on FM issues and audit queries/implementation of recommendations made by the internal/external auditors;
• Maintain constant liaison with the World Bank on financial management issues;
• Provide on-the-job mentoring and coaching support to FMoF staff seconded to the PCU as the project accountant(s) and other support accounting technicians;
• Perform other duties as requested by the Program Manager within the framework of this consultancy.
6. The Home Finance Department in the Federal Ministry of Finance hereby invites eligible individuals to indicate their interest in providing to services. Interested individuals should provide information demonstrating that they have the required qualifications and relevant experience to perform the services. The qualify for shortlisting, applicants must possess the following qualifications criteria:
A Professional Accounting Certification (ACA, ACCA, CPA or equivalent);
• Minimum Bachelor’s degree in Accountancy, Finance, Business Administration, Economics or related subjects shall be an advantage;
• Minimum of 5 years of post-qualification experience in the implementation of financial management arrangements in World Bank assisted projects or similar multilateral institution environment such as ADB or similar organizations;
• Highly computer literate with demonstrable proficiency in Microsoft Word and Excel;
• Excellent numerical and analytical skills;
• Fluency in spoken English required with excellent written English skills, including sound report-writing skills;
• Proven ability to work under pressure and meet strict deadlines;
• Proven ability to work effectively as part of a team.
7. The individual consultant will be selected in accordance with the procedures set out in the World Bank’s “Procurement Regulations for IPF Borrowers” (Procurement Regulations) dated July 2016 (revised November 2017) under the “New Procurement Framework (NPF), available t the World Bank website: https://policies.worldbank.org/sites/ppf3/PPFDocuments/Forms/DispPage.aspx?docid=4005&ver=current.
8. Further information can be obtained at the address below during office hours (from 09hours to 1600 hours) Monday through Friday (Except Public Holidays) from the Program Coordinator, Tel: +2348033462383.
9. Expression of Interest accompanied by candidate’s curriculum vitae must be delivered in a written form to the address below (in person, or by mail) by Tuesday, 17th July, 2018 at 5:00pm prompt.
The National Program Coordinator
Program Coordinating Unit,
Home Finance Department
Federal Ministry of Finance
Block B’, Room 330, Third Floor.
Federal Ministry of Finance Building.
Central Business District, Abuja.
Email: [email protected]
SOURCE: DAILY TRUST
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