1. This request for Expressions of Interest follows the General Procurement Notice (GPN) of this project that appeared in UN Development Business (UNDB) issue number 692 of December 16, 2006.
2. The Government of the United Republic of Tanzania has secured funds from Development Partners towards the cost of the Financial Sector Support Project (FSP). It is intended that part of the proceeds of the funds be applied to eligible payments under the contract for Employment Services for Financial Management Specialist for the FSP and Housing Finance Project (HFP).
3. The main objective of this assignment is to perform efficient and effective financial supervision and management of all funds of FSP and HFP and other related responsibilities as may be assigned from time to time.
4. Duties and responsibilities of the Financial Management Specialist include the following;
(i) To manage and administer all the funds of the Project in accordance with the World Bank Financial Management and Disbursement Guidelines for Projects in a view to ensuring a transparent and efficient financial management system for the Project;
(ii) Provide implementation support and carry out supervision work to ensure that project financial management systems are functioning appropriately, including preparation of periodic interim financial reports;2. The Government of the United Republic of Tanzania has secured funds from Development Partners towards the cost of the Financial Sector Support Project (FSP). It is intended that part of the proceeds of the funds be applied to eligible payments under the contract for Employment Services for Financial Management Specialist for the FSP and Housing Finance Project (HFP).
3. The main objective of this assignment is to perform efficient and effective financial supervision and management of all funds of FSP and HFP and other related responsibilities as may be assigned from time to time.
4. Duties and responsibilities of the Financial Management Specialist include the following;
(i) To manage and administer all the funds of the Project in accordance with the World Bank Financial Management and Disbursement Guidelines for Projects in a view to ensuring a transparent and efficient financial management system for the Project;
(iii) Evaluating audits, assessing auditor competence and following up on issues raised by the audits Review audited financial statements and other periodic financial reports received, monitor compliance with financial covenants including audit compliance, ensure adequate communication with the Borrower and the project implementing
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agencies with respect to audits and other financial reports, and advise as appropriate;
(iv) Provide report, information and support on project financial management matters;
(v) Monitor implementation of the agreed action plans for the projects and/or corporate financial reporting reform initiatives, and provide technical advice to the BOT in the implementation of reform actions.
(vi) Collaborate with stakeholders (The government, World Bank and other Development Partners) for project implementation;
(vii) Prepare all financial reports in accordance with the approved Financial (Accounting) Plan.
(viii)Prepare and submit quarterly accounting monitoring reports to the relevant authorities within 30 days from the end of the quarter.
(ix) Ensure full documentation of program expenditures during preparation of Withdrawal Application and IFRs
(x) Monitor the expenditures of the project with a view of ensuring that the amounts budgeted for, under exact expenditure head is not exceeded
(xi) Prepare and submit the financial statements and cash flows forecasts within the specified time frame.
(xii) Prepare and submit the annual financial statements at the end of the financial year.
(xiii)Maintain and ensure safe custody of all financial documentation;
(xiv)Maintain ledgers and implement strong internal control systems in order to facilitate the production of timely, reliable and accurate financial reports
(xv) Carry out monthly reconciliations of all relevant accounts of the FSP and the HFP.
(xvi)Perform any other duties as may be assigned by the Head of the PMU.
5. Qualifications and experience. It is expected that the interested individuals must demonstrate to possess the following:
(i) A degree, from a recognized University, in Business Management, Economics, Commerce or any other related field;
(ii) A Master’s degree in Business Management, Economics, Commerce or any other related field, and/or a CPA.
(iii) Training in Financial Management will be an added advantage;
(iv) Fluency in English is required;
(v) A minimum of 5 years experience in executing financial management activities in World Bank funded projects or any other multilateral organization/international cooperation institution;
(vi) Knowledge of International Financial Reporting Standards and International Standards on Auditing;
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(vii) Experience in evaluating audits, assessing auditor competence, and following up on issues raised by the audits;
(viii) Experience in interpreting financial and project management reports and determining appropriate remedial actions;
(ix) Must be proficient in the use of computers for word processing, spreadsheets and any other applications used in the Financial Management function;
(x) Strong planning, organization and time management skills to function in a team and contribute towards a common goal. Ability to manage multiple tasks and projects;
(xi) Must be a person of proven honesty and integrity with no criminal record, result oriented and proactive.
(xii) Excellent Information Communications Technology skills: including proficiency in the main office software, knowledge of database management and information systems, Internet tools and the ability to work in a team.
6. Terms and conditions of service
This is a project position supported by Donor Funds, and is a non-established position for which contract terms are limited to the period of the project, and may be renewed subject to extension of the funding. The Financial Management Specialist will be recruited for an initial period of six months and the contract may be renewed contingent upon satisfactory performance evaluation. Attractive consolidated remuneration packages for fixed contract positions will be paid in accordance with the project budget.
7. The Bank of Tanzania (the Client) now invites eligible individuals to express their interest in providing the required services. Interested consultants must provide information indicating their professional capability to undertake the consultancy. Such information may include C. V. demonstrating the needed qualifications and experience.
4. A short list will be prepared on the basis of expressions of interest submitted to Bank of Tanzania in writing. The selection method will be in accordance with procedures set out by the World Bank Guidelines; Selection and Employment of Consultants by World Bank Borrowers, May 2004 revised October 2006.
5. Interested individuals may obtain further information at the address given below between 8.30 hrs and 16.30 hrs, Monday – Friday, exclusive of public holidays, before the deadline for the submission of expression of interest.
6. Expressions of Interest in writing, with detailed C. V. should be sent to:-
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Postal: Manager,
Procurement Management Unit
Bank of Tanzania,
P.O. Box 2939,
Dar es Salaam
Tanzania.
Physical: 5th Floor, South Tower,
10 Mirambo Street,
Dar es Salaam.
E-mail:
Telephone No.: 255 22 2235194/5 PMU@hq.bot-tz.org
Fax No.: 255 22 2234219,
8. Deadline for submission of expression of interest is 10th January 2011 at 12:00 hours local time.
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