Financial Monitoring Officer

Bachelor's Degree   Kabul, Afghanistan Full Time 1998
Date Posted:Sep 12, 2020
Reference:ACSC /ARTF/TPMA/FMO/18
Closing Date:Sep 19, 2020
Work Type:Full Time
Number of Vacancies:2
Gender:Female
Functional Area:Accounting/Finance
Nationality:Afghan
Salary Range:As per company salary scale
Years of Experience:1 Year
Contract Duration:Not specified
Extension Possibility:Yes
Contract Type:Internship
Probation Period:2 months
Required Languages:Dari,Pashto,English

About Alfalah Consulting Service (ACSC):

Founded:

The Afghanistan Reconstruction Trust Fund (ARTF) was established in 2002 as a multi-donor trust fund to support immediate stabilisation and reconstruction needs in Afghanistan, a country affected by fragility, conflict and violence to fill the large financing gap in both the operating and development budgets of the Afghan Government, and to provide a platform for pooled on-budget financing and coordinated implementation support to the government. The World Bank acts as trustee and administrator of the ARTF.

Seventeen years after its establishment, the ARTF is Afghanistan’s main multi-donor mechanism for on-budget financing of non-military expenditure. Two ARTF windows provide “on-budget” funds to the Afghan Government:

·      The Investment Window (IW) funds investment projects that are implemented by Afghan Government line ministries and agencies. The Government is primarily responsible for project design and implementation, including monitoring and updating results frameworks, establishing adequate, monitoring and evaluation arrangements, and reporting progress towards agreed project development objectives and results targets, with support from the World Bank task teams. For each project, the Government is also responsible for maintaining financial management and procurement arrangements acceptable to the Bank, as agreed during project appraisal and negotiations.

·      The Recurrent Cost Window (RCW) finances a large portion of the Government’s non-military recurrent expenditure through policy-based budget support.

The TPMA seeks up to two female candidates to work on an internship basis as Financial Monitoring officers. These internships are only open to female candidates who have partially completed ACCA papers (or partially qualified) in accountancy.

Job Summary:

The primary objectives of the financial monitoring are to assure value for money of World Bank-funded investment projects through integrated oversight of project implementation performance and fiduciary and safeguards compliance and if, requested/agreed, through “special” tasks to review specific aspects of project management, implementation and impacts.

The scope of this assignment includes:

Recurrent Cost Monitoring

·      To verify the eligibility of recurrent expenditure for financing under the RCW, based on agreed sample-based reviews of relevant financial records; and

·      To assist in minimizing weaknesses in payroll management including possible inaccuracies in the Government payroll records through physical verifications of Government employees based on agreed sampling procedures.

Project implementation monitoring

·      To conduct regular monitoring of the investment projects, using an agreed site selection/sampling method with monitoring content tailored to project-specific requirements. While the project-specific monitoring protocols will guide the site selection planning, the specific sites to be visited as well as the distribution of the number of sites across projects, are subject to adjustments throughout the year.

Site-specific fiduciary reviews

·      For each site/sub-project subject to on-site monitoring, to review financial transactions that relate to the specific site/sub-project to assess whether the financial execution is in line with physical progress (i.e., excess payments vis-à-vis physical progress) and identify possible “red flags” in terms of financial compliance (e.g., payments processed without proper supporting document). Visits to review documentation, interview people at project sites may be conducted as needed. For the project implemented by communities review the records maintained by communities at project site;

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·      To review procurement transactions, on a sample basis, for sites selected through a risk assessment process. The objective of the review will be to assess whether procurements carried out were consistent with the Procurement Plan approved by the World Bank and whether these were carried out in compliance with applicable procurement guidelines. This review will also be done for any contract amendments made during the project implementation period; and

·      Review the Statement of Expenditure for each project submitted to the Bank for replenishment. The review will entail assessing completeness of underlying expenditure supporting documents, compliance with applicable procurement regulations and control framework, and completion.

Duties & Responsibilities:

The major focus of the internship will be to support the selected candidates’ completion of their professional studies in accountancy preferably ACCA. This will include financial support towards the cost of completing their studies. Progress in the interns’ studies will be monitored on a regular basis throughout the assignment and evaluated by project management at the end of the assignment.

On-the-job training from senior team members at the TPMA main project office and at other workplaces will form part of the assignment, based on the monthly plan to be developed and agreed with the team management.

As Financial Monitoring Officers, the successful candidates will assist Senior Financial Monitoring Officers to:

·      Monitor Government and project expenditure to ensure that funds are disbursed for the purposes provided (Grant Agreement eligibility and fiduciary criteria);

·      Verify transactions through site visits and representative sampling for each category of expenditure including procurement, salary, operation and maintenance costs, advances and petty cash, and other developmental/project costs and capital costs; 

·      Draft monitoring working papers as per the required information;

·      Review financial and internal controls to determine the existence, adequacy and operation of controls related to the management of all funds received by projects;

·      Complete work in line with agreed monthly work plans;

·      Report daily activities undertaken to the line manager;

·      Carry out any other appropriate tasks assigned by the line manager.

Job Requirement:

·     Bachelors’ degree. (A degree in Accounting, Finance, Audit, Economics and Business Administration with accountancy majors preferred);

·     ACCA ongoing and partially completed is preferred;

·     Knowledge of World Bank procurement guidelines and financial policies preferred but not required;

·     Good working knowledge of MS Office packages (MS Word, MS Excel); and

Ability to communicate clearly and accurately in writing and verbally in Dari/Pashto and English

Job Location:

Afghanistan, Kabul
This job is expired