The Finance Department Improvement project aims to enhance the financial management practices and
processes of our organization to ensure efficiency, transparency, and compliance with international
standards. The selected consultant will conduct a review of our current financial systems, policies, and
procedures, with a focus on strengthening internal controls, improving reporting mechanisms, and
enhancing staff capacity. Key objectives include developing the NGO financial framework, updating
financial policies, developing the core financial processes, evaluating and recommending affordable
technology systems, providing training and capacity building for finance staff, enhancing documentation
and financial reporting, and optimizing grant management processes. Overall, the assignment aims to modernize and strengthen our financial management framework, enabling our organization to effectively
manage resources, mitigate risks, and achieve our mission more efficiently.

The selected consultant will be responsible for the following tasks:

A. Financial Assessment:

● Conduct an overall assessment of our current financial operations including systems, policies, and procedures.

● Identify strengths, weaknesses, opportunities, and threats (SWOT) in our existing financial framework.

B. Financial Policies and Documentation:

● Improve the existing financial policies and create any material to ensure consistency and compliance with international standards, best practices, and Borderless NGO operational requirements.

● Document all improvements and changes made to the financial framework for future reference.

C. Develop Financial Processes:

● Identify a list of at least seven core financial processes

● Provide a description and a summary of each financial process.

● Create process maps to visualize the workflow.

● Write detailed process descriptions.

● Develop necessary forms and templates.

● Define Key Performance Indicators (KPIs) for each process.

● Establish an authority matrix to clarify roles and responsibilities.

D. Budgeting and Forecasting:

● Develop our budgeting and forecasting manual to ensure accuracy and alignment with organizational goals.

● Provide easy-to-implement frameworks and methodology for budget allocation and resource utilization.

E. Financial Reporting:

● Develop clear and standardized financial reporting templates for different stakeholders, both internal such as the Board and the Management Committee, as well as external such as donors, ensuring transparency and accountability. 

● Enhance our financial reporting capabilities to provide timely and accurate information for decision-making.

F. Internal Controls and Compliance:

● Review and strengthen internal control mechanisms to prevent fraud, errors, and mismanagement of funds.

● Ensure compliance with relevant financial regulations, donor requirements, and organizational policies.

G. Capacity Building:

● Provide training to finance staff on best practices in financial operations, budgeting, and reporting.

● Enhance the skills and knowledge of our finance team to effectively carry out their responsibilities.

H. Financial Planning and Analysis:

● Assist in developing long-term financial plans and strategies to support organizational sustainability and growth.

● Conduct financial analysis to identify trends, risks, and opportunities for improvement.

I. Grant Management:

● Review our grant management processes and provide recommendations for streamlining and improving efficiency.

● Ensure compliance with grant requirements and reporting deadlines.

J. Risk Management:

● Assess financial risks facing the organization and develop strategies to mitigate these risks.

● Ensure that appropriate risk management policies and procedures are in place.

K. Staff Training:

Conduct training sessions for the NGO's finance staff on the updated financial policy and new processes to ensure smooth implementation.

How to apply

Required Documents
Interested candidates should submit the following documents by the specified deadline:
● Cover Letter: A brief introduction outlining the consultant's interest in the project, relevant
experience, and how they are well-suited to meet the project's objectives.
● Executive Summary: A concise overview of the proposal, highlighting key points and proposed
solutions.
● Understanding of the Project: A section demonstrating the consultant's understanding of the project
scope, objectives, deliverables, and timeline.
● Approach and Methodology: A detailed explanation of the consultant's proposed approach to
addressing the project's requirements. This should include methodologies, tools, and techniques
that will be used to achieve project goals.
● Work Plan: A comprehensive work plan outlining specific tasks, activities, and timelines for project
execution. This should include milestones and deliverables.
● Team Qualifications: Details of the consultant's team members who will be involved in the project,
including their relevant experience, qualifications, and roles.
● Past Experience: A summary of the consultant's relevant experience, including similar projects
successfully completed, client testimonials, and case studies.
● Budget and Pricing: A detailed breakdown of the proposed budget, including all costs associated with
the project, such as consulting fees, materials, and any other relevant expenses.
● Risk Management: Identification of potential risks associated with the project and proposed
strategies for mitigating these risks.
● References: Contact information for previous clients who can provide references or testimonials
regarding the consultant's work.

 

Please send the required documents to [email protected] by 30-May-2024. Include "Finance
Consultant" in the subject line and specify how you learned about this opportunity. Incomplete applications will
not be considered.
This TOR aims to guide the selection process for a qualified Finance Consultant who will contribute to improving
our financial management processes, ensuring transparency, accountability, and sustainability.

Expired
Deadline
Thursday, 30. May 2024
Type of Call
Call for Consultancies
Intervention Sector(s):
Humanitarian & Development Financing
Remuneration range:
2000 to 3000 (USD)
randomness