Position: Extended Term Consultant
Location: Kathmandu, Nepal
Job #: req11326
The World Bank Nepal Country Office in Kathmandu seeks applications from qualified and bright candidates for the position of Extended Term (ECT). This is a 1- year extended term position with the possibility of extension for another year subject to the performance of the candidate and business needs.
Duties and Accountabilities:
The selected candidate will be expected to perform the following tasks:
Assess the adequacy of the Borrowers’ project financial management systems and their ability to manage and monitor World Bank-financed projects. This includes budgeting, policies and procedures, internal controls, accounting, financial reporting, auditing, and design of appropriate funds flow arrangements for new operations.
Carry out supervision work to ensure that funds are being used for intended purposes and that projects’ financial management systems are functioning appropriately, including the review of periodic interim financial reports.
Assess the selection and engagement of auditors, ensuring their suitability including their independence, and competence to perform; and ensure that the borrower provides auditors with all the relevant information (including Terms of Reference and Bank requirements) necessary to carry out their engagement.
Review audited financial statements received, monitor the Borrowers’ compliance with financial covenants including audit compliance, ensure adequate communication with the Borrower and the project implementing agencies with respect to audits and advise as appropriate.
Provide advice and support to the Borrower and the World Bank Task Teams on matters affecting financial management.
Provide financial management guidance for the development of technical assistance programs and evaluate and monitor their implementation.
Provide guidance and advice to borrowers and Bank staff on capacity building in projects and with public sector oversight and accountability institutions.
Assess the financial and operational viability of implementing entities (e.g. with respect to revenue earning entities), and to advise on the design and use of financial performance covenants.
Monitor implementation of the financial management action plans and provide technical advice to the Government in the implementation of reform actions.
Support the Senior and/or Lead Financial Management Specialist who undertakes FM quality assurance and/or serves as a focal point for EASG2 with corporate units at HQ, including Operations Policy / Country Services and Finance/Accounting units.
As requested by the Practice Manager, undertake other activities, as appropriate.
Master’s Degree in a relevant field (e.g. accounting, finance, economics, public policy) plus membership on internationally recognized professional accountancy body) or alternatively a Master’s degree in the relevant field (e.g. accounting, finance, economics, public policy) plus relevant public sector financial management experience.
A minimum of five years of relevant professional experience in public sector financial management
Ability to conceptualize, design and implement country or sector level financial management capacity building initiatives.
Demonstrated ability to interpret financial and project management reports and to determine appropriate remedial actions.
Experience in advising clients on the design and implementation of FM systems, including financial and management reports either in the public sector or multilateral or bi-lateral development/donor agencies.
Ability to understand cross-cutting governance issues beyond financial management (e.g., procurement, public sector management) at sector/country level.
Knowledge of International Financial Reporting Standards (IFRS), International Accounting Standards (private and public sectors) and International Standards on Auditing.
Experience with internal audit and internal control systems and procedures (including familiarity with internationally acceptable control frameworks such as COSO), with the ability to assess such systems and recommend remedial action where necessary.
Experience in auditing, including assessing audit competence, and the ability to analyze the impact of qualified audit reports and matters arising from management letters.
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