Republic of Kenya
Ministry of Energy and Petroleum
Vacancy: Financial Management Specialist
Ministry of Energy and Petroleum
Vacancy: Financial Management Specialist
Following the successful discovery of
crude oil and natural gas in the country’s sedimentary basins and on the basis
of the current heightened interest in petroleum exploration activities, there
exists promising prospects for more discoveries in the country’s four
sedimentary basins of Lamu, Mandera, Anza and Tertiary Rift.
The Ministry would therefore like to
recruit a Financial Management Specialist for
the Management of the KEPTAP funds on the following terms of reference:
Responsibilities and Tasks
Responsibilities and Tasks
- Ensuring effective operation and maintenance
of the project financial management system;
- Ensuring that the project financial management
and accounting procedures and routines as detailed in the Project
Financial Management Manual are compiled by the PlU staff and
subcontractors i.e., cash and bank books, Chart of Accounts, journals,
various ledgers, trial balance, voucher formats, standard internal
checks/controls such as delegation and separation of duties, authorization
of transactions, physical custody of assets, periodic and regular
reconciliation, etc.;
- Implementing the system for preparation of
short and long term financial forecasts based on projected work programs
and actual performance;
- Expensing of funds, processing and maintenance
of all financial records of the Project;
- Monitoring the progress of all Project
Sub-Components in order to regularly update budget forecasts;
- Participating in the elaboration of the
Project financial plans;
- Monitoring the Project preparation and
implementation expenditures and costs;
- Preparation of the contract payment terms and
all financial arrangements, purchase orders and other financial documents
(together with Project Coordinator), supervision of their conformity with
project preparation and implementation requirements and project budgets;
- Revision of proposed financial arrangements in
all bidding documents and contracts prior to their submission for the
approval of the World Bank and other institutions;
- Preparation of all disbursement requests from
special accounts and submit them for signature to the persons entitled to
sign disbursement requests for withdrawal from the special accounts;
- Overseeing the special bank accounts
operations;
- Preparation and submission of the Statements
of Expenditure to the authorized signatories;
- Preparation of all regular financial reports
required by the World Bank and other project related institutions;
- Submitting financing plans and proposed
changes in project budget to the Project Coordinator, and the World Bank
for approval;
- Participating in organization of project
audits and preparation of requisite information for project audits.
- Updating of project accounting documents/
ledgers (e.g. purchase orders, cash receipt book, etc.);
- Maintaining the fixed asset register;
- Preparing the fixed asset spreadsheet
including calculating depreciation;
- Preparation of source documents (receipts,
invoices, etc,);
- Updating cash receipts and disbursements book,
petty cash disbursements listing.
- Manage all PIT accounting activities in
accordance with International Accounting Standards and World Bank
requirements
- Review information technology issues including
computerization of accounting records;
- Ensure payments are made to suppliers,
contractors and consultants in timely manner and in accordance to contract
agreements;
- Prepare quarterly Project Management Reports
(PMR5) and annual Project Financial Statements for the Ministries and the
World Bank (quarterly PMR5 will include financial reports, progress report
and procurement management report); and arrange for audits in a timely
manner.
Authority
Autonomy: The Project Financial
Management Specialist reports directly to the Project Coordinator.
Key Contacts/Relationships
- Internal: Project Coordinator, Project
Procurement Specialist and MEP Finance Department.
- External: Vendors, relevant World Bank staff.
Working Conditions
- Based at the Ministry of Energy and Petroleum
in Project Management Unit Office, Nairobi;
- Exceptionally the Financial Management
Specialist may be required to work more than usual office hours including
weekends or holidays
Duration of the Assignment: Financial Management Specialist will perform the
assignment under the present ToR based on the labor contract concluded with
him/her by the Project Coordinator. The contract will be for two (2) years,
renewable, subject to satisfactory performance.
Qualification and Key Competence
Required
Qualification and Key Competence
Required
- Degree in Business with specialization in
Accounts or Finance
- Professional qualification in Accountancy -
ACCA, CPA (K)
- Practical experience of over 3 (three) years
in handling financial aspects of a donor funded project preferably World
Bank
- Acquaintance with World Bank disbursement
manual
- Knowledge in Government Financial Management
and Accounting procedures
- Computer literacy in Ms Office, Excel and
Internet applications
- Formal training in Financial Management under
World Bank loans /credits
Desired
- Excellent communication skills in written and
spoken English
- Excellent organizational skills and attention
to details
- Advanced interpersonal skills and ability to
form and maintain team work relations with colleagues
Submit your completed form and
detailed CV to Nyayo 24th floor at the Tender Box
Principal Secretary
Ministry of Energy and Petroleum
Nyayo House - off Kenyatta Avenue
P.O. Box 30582-00100
Nairobi
Principal Secretary
Ministry of Energy and Petroleum
Nyayo House - off Kenyatta Avenue
P.O. Box 30582-00100
Nairobi
The deadline for submission of forms and CV’s will be 30t September, 2014