Financial Management Specialist

MoET will oversee grain imports in Lebanon and is the implementing agency of the Project. MoET will coordinate with the Ministry of Finance (MoF) and Bank du Libnan (BDL) on fiduciary aspects. While no project implementation unit will be established, project implementation will rely on a designated project task team, consisting of MoET staff with clearly assigned roles.  External consultants will be hired to complement MoET staff in key areas such as fiduciary and strengthen capacity.

Framework Agreements between MoET and selected local importers (Eligible Importers) will be put in place to state the roles and responsibilities of each party, lay out the technical and contractual requirements for wheat import purchases, and set the rules for pricing and payments.

II. Assignment Objectives

MoET is considering the appointment of a qualified Financial Management Specialist/Financial Officer, as part of the project task team, who will be responsible for carrying out all financial management activities of the project in accordance with applicable laws and regulations, and the World Bank Guidelines for Financial Management.

III. Responsibilities of the Financial Management Specialist

• Prepare all payments related to the project, and also make sure that all supporting documentation on financial transactions is maintained, to those payments, including.: (i) Payment by transfers and/or checks from the Designated Account, (ii) Direct Payments; and (iii) Replenishment Application.
• Check the Payments paid from the Designated Account and Income Tax slips for all relevant payments.
• Check the clearance of Petty Cash payment with supporting documents.
• Check all Financial Transactions.
• Prepare the bank reconciliation for monthly replenishment of Designated Account.
• Check whether the records for all the Contracts are maintained.
• Prepare the quarterly and semi-annual project financial statements and liaise with the Project Manager and other departments to reflect forecast of onward disbursements.
• Check with the Project Manager/coordinator concerning the quarterly physical report, whether it is done according to the requirement.
• Prepare withdrawal applications and submit them for signature.
• Follow up on all financial matters with relevant concerned department of Ministry of Finance, Central Bank; Ministry of Budget, etc.
• Check whether proper record and documentation for audit is done or not.
• Maintain a fixed Asset Register.
• Attend to financial queries or other related work as and when required.
• Work with the external auditor and with the technical auditor/third-party monitoring agent as needed.
• Maintain a fully functional accounting system.
• Design an appropriate Chart of Account and Cost Center.
• Design an Internal Control Mechanism for the smooth movement of all payment system.
• Design accounting policies and procedure and reporting tools.
• Establish and maintain suitable internal control system for facilitating the procurement of Works, Goods, and Services.
• Monitor the Designated Account movement through the review of Designated Bank Account payments and the direct payment.
• Document accounting policies and procedures and safeguarding financial documents.
• Prepare disbursement plan.
• Prepare the project budget in coordination with the project manager.
• Prepare the financial and accounting sections of the project operational manual and ensure that the FM aspects are executed as per the manual. 
• Ensure that the project is executed as per the World Bank financial management procedures and as per the loan agreement, Project Appraisal Document (PAD), Project Operations Manual (POM) and disbursement letter.  

IV. Minimum Qualifications 

The Financial Management Specialist should have a minimum of bachelor’s degree in business, accounting, economics or any relevant field, master’s degree or professional accountancy qualification (CPA, CMA, etc.) would be a distinct advantage in addition to a minimum of 5 years of professional experience working on similar assignments. The Financial Management Specialist shall have direct previous experience with financial management of projects financed by international donors. The Financial Management Specialist should be proficient in Arabic and English, French would be an advantage.

V. Duration of Assignment

The contract period is for one year on full time basis.