Terms of Reference for FINANCIAL MANAGEMENT SPECIALIST (CONSULTANT) OF THE EAPP – PROJECT IMPLEMENTATION UNIT (PIU)
TECHNICAL SUPPORT TO THE EASTERN AFRICA POWER POOL
Position: Financial Management Specialist of the EAPP – PIU
Ref. No. ET-EAPP-79558-CS-INDV
Organization: Eastern Africa Power Pool (EAPP)
A. Project Background and Objectives
The Eastern Africa Power Pool (EAPP) is a regional institution established in 2005 to coordinate cross-border power trade and grid interconnection among nations of the Eastern Africa region. The EAPP currently has eleven (11) member countries (Burundi, Democratic Republic of Congo (DRC), Djibouti, Egypt, Ethiopia, Rwanda, Kenya, Libya, Sudan, Tanzania, and Uganda), and fifteen utilities.
The Council of Ministers (COM) is the supreme governing body of EAPP that provides strategic guidance and oversight. The Steering Committee (SC), which consists of Chief Executive Officers (CEOs) of the member utilities, is the executive arm responsible for policy formulation and monitoring of execution. The day-to-day activities are handled by a General Secretariat located in Addis Ababa, Ethiopia.
The Independent Regulatory Board (IRB) is EAPP’s organ for regional regulation and reports directly to the COM. The IRB is composed of the heads of the national regulatory authorities / commissions in each member country.
The objectives of the EAPP are to:
i) Secure power supply for the countries in the region;
ii) Optimize the usage of energy resources available in the region by working out a regional investment scheme in power generation, transmission and distribution taking into account the environment effects;
iii) Increase power supply in the region in order to increase access rate of the population to electricity in Eastern Africa;
iv) Reduce electricity production cost in the region by using power system interconnection and increase power exchange between countries;
v) Provide efficient coordination between various initiatives taken in the field of power production and transmission, as well as exchange in the region;
vi) Create, in the framework of New Economic Partnership for African Development (NEPAD), a conducive environment for investment in order to facilitate the financing of regional integration projects in power generation and transmission; and
vii) Facilitate, in the long term, the development of the electricity market in the region
The World Bank is providing a US$10million grant (IDA Grant) for Technical Assistance (TA) to EAPP under component IV of the Tanzania-Zambia Regional Interconnector Project. The Technical Assistance will (i) facilitate knowledge sharing between SAPP and EAPP (South-South exchange); and (ii) help design and operationalize a market operator for the EAPP to facilitate short-term power trade. This component may also support measures to facilitate interconnection of EAPP and SAPP, such as grid code harmonization, and putting in place the legal and regulatory mechanisms. The precise scope is outlined in the Tanzania -Zambia Regional Interconnector Project Appraisal Document (PAD) and is closely aligned with the ongoing Bank executed Multi Donor Trust Fund (MDTF) support to the EAPP Secretariat.
The EAPP is looking for a Financial Management Specialist to manage the finance of the project in accordance with the financial regulations of the EAPP and in line with World Bank policies and guidelines, as well as to provide all the necessary support to finance staff at the EAPP Secretariat on the project finance management. The appointment of the specialist will assist the smooth start-up and increase the speed of the project implementation at the EAPP under the Project Implementation Unit (PIU). The Technical Assistant Programme financed by the World Bank under IDA Grant, shall fund the establishment of a Project Implementation Unit (PIU) within the EAPP. The PIU shall carry out the day-to-day implementation and management of the Project. The position will be funded under IDA Grant to EAPP.
B.OBJECTIVES OF THE ASSIGNMENT:
The objective of the assignment is to provide services of a highly qualified Financial Management Specialist who will assist the PIU to efficiently manage the project funds.
C. MAJOR DUTIES AND RESPONSIBILITIES (SCOPE OF WORK)
The Financial Management Specialist will report to the Project Manager of the PIU and will have the following major duties and responsibilities:
a) Prepare or support in the preparation of the project annual budgets as part of the annual work plan and budget preparation and revisions thereof; Establish budget monitoring and control system and ensure that payments are made for planned activities for which budgets exist; Follow – up to ensure that actual expenditures are in line with budgets and analyze and provide explanation to users on any variances thereof;
b) Ensuring that all payments for the project are made and recorded in accordance with the approved budgeted/planned amounts as approved and complies with IDA Financial Management Manual, the Financing Agreement and other laid down accounting procedures and operational guidelines;
c) Ensure that internal control procedures are in place and are adhered with;
d) Ensuring that all the payments vouchers are adequately supported with appropriate source documentation, duly authorized for payment and properly filed to facilitate easy retrieval and referencing;
e) Ensuring that approved bank accounts are maintained at adequate levels to enable scheduled payments to be made without delay, undertaking timely cash flow projections and observing good treasury and cash management practices;
f) Developing or updating Financial Management Manual of the project; Maintaining and updating all required financial records, including cashbooks, ledgers, commitment registers and contract registers;
g) Preparing monthly reconciliation statements for all bank accounts;
h) Preparing timely withdrawal applications for replenishments to the designated accounts (DA’s) as well as effecting direct payments to suppliers and/or contractors, in accordance with the laid down procedure guidelines; Preparing a monthly reconciliation statement to the IDA disbursements records;
i) Prepare monthly, quarterly & annual financial statements as appropriate as well as any other financial status reports required by Stakeholders; Submit Interim financial reports quarterly to World Bank in line with reporting requirements of the World Bank and the Project Appraisal Document (PAD).
j) Communicating with consultants and suppliers on issues concerning payments, disputes and account settlements;
k) Overseeing the enhancement and development of proper record management – record keeping and filing systems;
l) Maintaining accurate recording of all the projects fixed assets in the Fixed Asset register and subsequently carrying out timely updates, reconciliation and verification of such assets acquired for the Project;
m) Ensuring that all the project fixed assets are correctly identified and physical verifications carried out on a regular basis to ascertain existence and condition(s) and that all fixed assets are adequately insured;
n) Supporting financial audit of the project by external audit and ensure that findings relating to the project are addressed on time;
o) Lead, facilitate, and support the External Audit of the project’s Annual Financial Statement by preparing the necessary reports from the project accounting system and other records, in accordance with the prescribed standards;
p) Undertaking the training of key staff of EAPP in the use and interpretation of the financial information and the need to adhere to internal control procedures and guidelines to enhance the financial discipline at EAPP;
q) Ensuring that accounting policies, procedure guidelines and ethical business practices are adhered to at all times in the conduct of business at all levels of EAPP and World Bank;
r) Actively participating in the continuous development of financial management and accounting systems to meet the ever changing demands of Information, communication and technology;
s) Performing any other related tasks as may be deemed necessary and assigned by Project Manager from time to time.
E. REQUIRED QUALIFICATIONS/COMPETENCES
The applicant should have:
· The candidate should be a professional accountant (CPA, CA or equivalent membership of an internationally recognized professional accounting institute) with a Bachelor’s degree in accounting, business, finance, economics or related subject. MA/MS in financial management or accounting is an added advantage;
· Having experience with EAPP and/or EAPP utilities will be an added advantage.
· A minimum of 8 years of direct relevant experience in a financial management or accounting, including broad expertise in the management of finance in the public and/or private sector;
· A minimum of 5 years of direct relevant experience in financial management in World Bank financed projects;
· Demonstrated skill in computer application and use of software programs is an essential requirement;
· Proven analytical and evaluative skills on key procurement issues and problems;
· Strong communication skills and persuasiveness in presenting, negotiating and resolving highly complex issues, both orally and in writing in English;
· Strong interpersonal skills and orientation as a team member;
· Ability to deal sensitively and build effective working relations with clients and colleagues.
F. MANAGEMENT PROCEDURES
Contractually, the Financial Management Specialist will report to the Project Manager of the PIU and work closely with other PIU staff. The Financial Management Specialist shall also work closely with the World Bank’s Energy Sector Task Team Leader (Ethiopia) and other designated World Bank staff and consultants.
G. RESPONSIBILITY OF THE EMPLOYER
The Employer will be availing office furniture, office equipment, stationery materials and communication facilities and other materials required by the Finance Management Specialist to perform his/her duties as specified in this TOR.
H. DURATION OF THE ASSIGNMENT
The duration of the assignment/service is for three years, subject to 6 months’ probation period with satisfactory performance before confirmation and also subject to satisfactory performance evaluated yearly. Expected start date is June 2020.