Ministry Of Finance And Economic Planning Recruitment (3 Positions)

Objective of the Assignment:
The objective of this assignment is to establish and implement sound financial management practices for the effective management of the financial matters of the Ghana PPP Project as well as other Projects and to deploy project resources for the intended purposes in accordance with the relevant GOG financial management requirements and Development Credit Agreements (DCA) between the World Bank and the Government. The Financial and Management (FM) Specialist will produce the required relevant and accurate financial reports on a timely basis to enable management carry out its oversight function and the implementing units to plan, coordinate. monitor and appraise the Project’s overall progress towards the achievement of its objectives. The FM Specialist will operate at the PID (specifically the PFA Unit) within MOFEP in Accra. The Assignment will be for one year, with the possibility of renewal annually subject to work requirements and satisfactory performance of the life of the Ghana PPP project .

Scope of Work:
The FM Specialist will be responsible for all accounting, internal control and other financial management functions within the PID as well as supervision of the finance section staff therein. The main tasks will be as follows:

• Prepare and update the project financial procedures manual that will ensure compliance with accounting policies and practices as stipulated in the financial management regulations/procedures agreed for the project;
• Establish and maintain an integrated accounting system for all approved project activities to ensure smooth flow and constant availability of financial resources to the project and utilizing standard accounting procedures, which will ensure full documentation and recording of sources and uses of funds;
• Periodically review the performance of control functions and where appropriate initiate corrective measures to ensure that internal controls are sufficient and function correctly;
• Prepare annual work plans and budgets in consultation with other PID staff;
• Conduct in house financial management and accounting training for PID staff;
• Supervise the activities of the finance section of the PID;
• Prepare, analyze and consolidate reports in accordance with agreed reporting schedules ensuring correlation between implementation progress and financial performance;
• Prepare project financial reports, including Interim Financial Reports (IFRs) and withdrawal applications for the replenishment of Designated Account, for submission to the PID Director, Project Coordinator, Government and World Bank;
• Prepare annual financial statements for external audits, and other reports for the project;
• Review bank reconciliations and other controls necessary to monitor financial and non-financial assets of the project;
• Advise the PID Director and Project Coordinator on all financial and control considerations of the project;
• Any other duties assigned by the PID Director and Project Coordinator.

The FM Specialist will ensure the duties of the Section’s Staff (particularly the project accountant) are carried out as summarized below.

Project Accountant:

• Maintain all accounting records in line with approved accounting standards and inline with the Bank’s and Government’s regulations;
• Render periodic reports (i.e. monthly/quarterly/annually) in the formats approved by the Bank;
• Draw up annual budgets and work plans together with the PID staff;
• Ensure prompt release of funds, once approved, to beneficiaries;
• Maintain relevant books and records for the Project;
• Ensure that all accounting records are updated promptly;
• Prepare monthly bank reconciliations of all Bank accounts;
• Together with the PID management, maintain, develop and update the Financial Procedures Manual on a regular basis;
• Together with the PID staff ensure strict adherence to installed internal control systems for all areas of project operation;
• Liaise with the internal/external auditors and follow up on audit queries and recommendations documented in management letters;
• Issue receipts, prepare payment vouchers and maintain cash records in accordance with laid down procedures;
• Maintain an Advance Payments Register and monitor advances settlements;
• Manage the petty cash float and maintain the petty cash book;
• Ensure petty cash disbursements are appropriately and adequately documented;
• Cheque writing;
• Updating the Cheque Issued Register;
• Ensure invoices submitted for payment at the PID are promptly attended to and processed

 

Required Skills or Experience

Competency and Expertise Requirements:
The FM Specialist will have the following qualifications, expertise & experience:

• A recognised professional accounting qualification (e.g. CPA, ACCA, ICAG holder or equivalent) preferably with a Master’s Degree in Accounting, Business or Finance;
• At least 6-10 years of post-qualification experience of work in a complex environment including managing an accounting department and donor-funded project accounts. Audit experience would be an added advantage
• Knowledge of international financial reporting standards & international standards on auditing;
• Experience in interpreting financial management reports, analyzing variations to plans and determining remedial actions required;
• Knowledge of public sector accounting procedures and operational knowledge of international of international and country financial and accounting management practices, including MIS applications
• Experience and familiarity with World Bank reporting requirements, disbursement procedures, submission of withdrawal applications and the maintenance of Designated Accounts;
• Ability to advise and disseminate financial management knowledge, supervisory skills and capacity to be a member of a multi-disciplinary team to provide advice and recommend actions;
• Excellent technical and conceptual knowledge about financial management and grasp of financial principles and practices;
• Analytical skills, ability to develop and implement accounting systems;
• Strong computer skills especially in Microsoft office application software and use of computerized accounting systems;
• Basic principles and procedures for Procurement and Selection of Consultants;
• Report writing and presentation skills;
• Integrity and Confidentiality;
• Fluency in written and oral English is essential

Objective of the Assignment:
This assignment is designed to support and advise the PID of MOFEP and Ministries Departments and Agencies (MDAs) to ensure that sub-projects under Component 3 of the project is properly prepared and implemented in compliance with the World Bank’s environmental and social safeguards policies and Ghana Environmental Protection Agency regulations and procedures. More specifically, the primary responsibility of the specialist will include:

• Providing oversight on the compliance of environmental and social safeguards policies in project preparation and implementation;
• To periodically review and assess the effectiveness of the activities implemented and their outcomes and impacts as well as compliance with national and international standards and environmental and social safeguards instruments, and
• Providing recommendations, advice and guidance to the PID and MDAs on measures to enhance the effectiveness of the project implementation and achievement of the project development objectives through appropriately addressing the social and environmental issues of the project
• The Safeguards Specialist will operate at the PID (specifically the PPP Advisory Unit) within MOFEP in Accra. The assignment will be for one year, with the possibility of renewal annually subject to work requirements and satisfactory performance of the life of the Ghana PPP project.

Scope of Work:
The scope of the work for this assignment will primarily include, but not limited to, the following:

• Provide safeguards expertise for PPP transactions;
• Preparing internal environmental and social guidelines for the preparation, implementation, monitoring and reporting of environmental and social documents required by various safeguards instruments;
• Reviewing ESMF/ESMP/ESIAs/RPF/RAPs and other environmental and social safeguards policies of the government of Ghana and the World Bank;
• Providing recommendations to PID and MDAs accordingly and make necessary changes prior to submission of relevant safeguard instruments to the World Bank – ensure consistency int the level of proficiency and presentation of the documentation;
• Supporting PID and MDAs in the review of documentation pertaining to environmental and social compliance (including bidding documents, reviews on-site, reports from contractors etc.) during project implementation;
• Conducting audits in matters pertaining to timely payments, provision of temporary measures to affected persons;
• Contribute to project progress reports pertaining to overall implementation of environmental and social requirements of the project;
• Coordinating and facilitating the work of consultants engaged to carry out environmental and social impact assessments and resettlement planning and monitoring of safeguards instruments implementation;
• Organising the technical aspects of workshops and meetings as required, as outlined in the ESMF/RPF training and capacity building section;
• Preparing training materials, and conducting technical training workshops to PID and MDA staff and project implementation agencies on environmental and social safeguards requirements;
• Undertaking field visits to ascertain if the grievance redress mechanisms established for the project are functioning appropriately and the individual projects are implemented in an environmentally and social sustainable manner;
• Collation of appropriate performance and monitoring indicators to input into the Monitoring and Evaluation (M&E) Framework of the project;
• Develop an Environmental and Social Unit within PID;
• Quarterly/Annual Environment and Social Monitoring and Evaluation reports

 

Required Skills or Experience