Finance Management Specialist

Open Period: 
Wednesday, April 7, 2021
Close Period: 
Monday, April 12, 2021
Socio-economic impacts of climate-related hazards in South Asian countries continue to threaten the countries’ economic growth, particularly in key sectors such as agriculture, water, and infrastructure. During the 16th Summit of the South Asian Association for Regional Cooperation (SAARC) in 2010, these countries collectively resolved to strengthen climate resilience. The Climate Adaptation and Resilience for South Asia (CARE) Project aims to contribute in translating this policy into actions through enhanced regional cooperation and knowledge on climate resilience and adaptation, and development of standards and guidelines to facilitate climate-resilient planning and investments.
The Project’s Development Objective is to create an enabling environment for climate-resilient policies and investments across South Asia, with the following indicators:
Increased access to regional climate data and analytics for climate-informed decision-making; National-level decision-making and planning that are better climate risk-informed; Regional climate resilience guidelines incorporated into national standards; Sectoral investments supported to include climate risks and resilient design; and Institutional capacities strengthened to undertake climate-informed policies and planning.
The project has three components, for implementation over 5 years:
1) Promoting evidence-based climate-smart decision-making, to enhance access to data required for risk-informed planning and investments; 2) Enabling climate-resilient policies and standards for development, to enhance transformation of policies and capacities for climate resilience and adaptation across South Asia; and 3) Project management and implementation support.
Component 1 shall be implemented by RIMES. This component involves the creation of a regional resilience data and analytics service (RDAS) platform and decision-support systems (DSSs) for selected sectors of agriculture, water, road transport, planning and finance in Bangladesh, Nepal, and Pakistan. Component 1 also includes capacity development of users of these systems and their products. The RDAS is a cloud-based open-access platform for acquiring, storing, managing, processing, analyzing, visualizing, and reporting data, for use in screening climate risks to inform investments. The DSSs are sector-specific systems, linked to the RDAS, and used to assist users in sectoral planning and decision-making.
Component 3 is jointly implemented by RIMES and ADPC. Under this Component, RIMES is establishing a Project Implementation Unit, which includes a Finance Management Specialist
The Finance Management Specialist, reporting to the Project Director through the Project Coordinator and Monitoring and Evaluation Specialist, is responsible for project budget preparation, execution, monitoring, analysis, and control, and financial reporting.
Scope of Work: 
The Finance Management Specialist shall be responsible for the following:
Finance Management:
Develop CARE project’s accounting system and manual, in collaboration with the Project Accountant
Select and maintain the most appropriate accounting software for CARE project
Set up and train project staff on CARE project’s financial management procedures
Ensure that the project’s financial management system, including project records and accounts, are maintained in accordance with relevant World Bank guidelines and regulations, as well as with generally accepted accounting principles and practices
Budgeting and Planning:
Prepare annual budget and cash plan based on the annual work plan
Ensure that expenditures are within the project budget
Analyze operational activities, including historical, current, and projected revenue and expense, cash flow, variances, and costs
Review financial statements, including monthly, quarterly, and annual financial reports
Analyze financial performance against targets, identify deviations, and inform the Project Director for necessary action
Perform budget reconciliations and amendments
Fund Management:
Prepare annual and quarterly disbursement forecasts as well as cash forecasts, and ensure cash flow
Prepare and process Statement of Expenditure (SOE) withdrawal application in accordance with World Bank’s Disbursement Guidelines
Track funds and coordinate with World Bank to ensure timely credit of funds into RIMES’ CARE Project account
Expenditure/Payment Processing:
Ensure compliance with RIMES’ financial framework and CARE Project specific requirements (e.g. Operations Manual, SOPs and the World Bank’s fiduciary guidelines etc.), rules and procedures while processing payments
Maintain internal control procedures for collecting, checking, and preparing documentation required for verifying invoices/ payment requests
Apply pre-audit checks on all payments before payment from the assignment accounts including budget availability, the sanction of competent authority and compliance with applicable financial rules & regulations
Manage financial aspects of the contracts under implementation, including payment terms, purchase orders and variation orders.
Financial Reporting and Audit:
Prepare quarterly financial summaries, annual financial statements and any periodic financial report required for the CARE Project
Ensure that financial records are archived regularly
Arrange for timely initiation and completion of independent annual audits of the project
Cooperate with World Bank finance management supervision missions, and follow up on recommendations
Qualifications: Academic: 
An internationally recognized professional accounting qualification (ACCA/CA/CPA) OR an advanced degree (16 years of education) - Master’s or equivalent - in a discipline related to Finance
Qualifications: Experience: 
At least 7 years of experience in financial management, audit, or accounts; Experience with a development organization or a donor funded project would be preferred; Experience with automated general ledger systems
Qualifications: Skills and Abilities: 
Ability to effectively communicate financial information to non-financial managers; Ability to analyze, evaluate, and summarize financial records for accuracy and conformity to procedures, rules, and regulations; Strong analytical, presentation, communication, and problem-solving skills; Advanced skills in Microsoft Excel; Proficiency in spoken and written English language
Qualifications: Personal Qualities: 
Conscientious and efficient in meeting commitments, observing deadlines, and achieving results; Persistent when faced with challenges; Takes ownership of all responsibilities of the position;
Contract Duration: 
The contract duration will be for 4 years subject to a 6-month probationary period, and annual performance review.
Application Process: 
Interested candidates must submit their application letter and resume to before midnight of 21 April 2021, Bangkok time. RIMES will further contact if you are shortlisted for interview process.