Job Summary

The FMS will be responsible for the day-to-day accounting transaction and manage the overall financial management arrangements of the FSSP. The specialist will ensure that robust financial management practices are maintained throughout the life of the project’s duration, in accordance with agreements, manuals, and project documents. S/he will coordinate with relevant implementing entities including CBE and DBE to establish and maintain financial management arrangements including budgeting, accounting, internal control, funds flow, reporting, and auditing.

Duties and Responsibilities

Specific responsibilities include, but not limited to:

Budgeting and Planning

• She/he supports Implementing agencies in preparation of the project annual work plan and budget (AWPB)
• Ensure that the project budget is included as part of the entities budget and approved by their respective board of directors
• Ensure that project’ AWPB is submitted to the World Bank and No objection is secured within the timeframe stated in the Financing Agreement
• Ensure that budgets are disseminated to all relevant stakeholders timely
• Maintain budget discipline, track budget utilization, report to management on variances from the established budget, and the reasons for those variances
• Assist PIU management in the formulation of its overall strategic direction
• Review the budget and plans of CBE and DBE and produce a consolidated plan

Accounting and Reporting

• Design and implement adequate Financial Management systems and procedures to govern implementation of the project
• Ensure that books of accounts are maintained; Maintain up to date and documented accounting system and policies and procedures
• Ensure the existence of adequate and capable FM staffing
• Produce periodic financial reports for World Bank as well as for the government as per reporting requirements and formats including by consolidating reports from CBE and DBE. Follow up on the preparation of acceptable financial reports from implementing entities; Ensure that unaudited financial reports are sent to the financiers on time and up to standard
• Ensure that audited financial statements of the project are sent to all stakeholders on time

Funds Management

• Ensure that sufficient funds are available to meet ongoing project and operational requirements; Ensure that resources are available to implementing entities; Forecast cash flow positions
• Mitigate financial risks and maintain close liaison with CBE, DBE and other key Government counterparts involved in the project
• Understand and implement World Bank disbursement procedures for the Project as per agreements/requirements; Follow up on disbursement issues timely; Ensure fund requests are made as per procedures and agreements
• Manage project bank accounts, Conduct bank reconciliations on time

Internal Controls

• Ensure internal control arrangements are maintained consistently throughout the life of the project including proper controls regarding approval and authorization; segregation of duties; cash and bank management; safeguarding of assets and properties (including fixed assets and inventories); payroll management; taxes obligations; contract management; advances and prepayments; payables are in place; reconciliations, etc.

External and Internal Audit

• Ensure that internal and external audits are arranged as per the agreements; Ensure relevant accounting information is made available to them; Address their queries

Financial Analysis

• Review financial performance of the project and report on key issues to the respective management body and project stakeholders
• Review administrative bottlenecks and recommend changes to improve efficiency. Create additional analyses and reports as requested by management.
• Reporting
• The Financial Management Specialist will be directly reporting to the PIU Manager/, FSSP Project and to the Corporate Finance Directorate Director.

Required Qualifications, Experience and Skills

The successful applicant will have the following qualifications, experience and skill:

• 1st degree or above Accounting, Accounting and Finance, Banking and Finance or related fields.
• At least 6 years of progressively responsible experience for a major Company, government or non-government institution.

• The candidates should have prior experience in implementing World Bank funded project/programs for at least 4 years, sufficient knowledge on managing the Client Connection system of the World Bank
• Preference will be given to candidates with the Chartered Certified Public Accountant or Association of Chartered Certified Accountants or Certified Management Accountant designations
• Excellent communication skills are essential, particularly regarding presenting results of analyses to management,
• Specific technical knowledge related to World Bank related projects,
• Proficient use and knowledge of electronic spreadsheets and database
• Fluency in English and Amharic languages
• The candidate must have the highest levels of personal integrity, and a reputation for a transparent and systematic work style; and
• The candidate must be able to work under pressure situations, to meet demanding deadlines

Place of work: Addis Ababa

Remark (For all positions):

• Salary and Benefit: Competitive and negotiable, based on qualifications and experience
• and provide support to all implementing agencies as required.
• Duration: One year with possible extension depending on performance and availability of funding
• Application Deadline: March 24 – 28, 2025
• Application Procedure (how to apply): Interested and qualified applicants should submit an Updated CV along with copies of essential documents (work experience and education) either by post to the address below or in person at the National Bank of Ethiopia, Building 2, Human Resource Management Directorate, and 6th floor.

Human Resources Management Directorate

National Bank of Ethiopia

P.O. Box: 5550, Addis Ababa, Ethiopia.

Note:

• Only short-listed candidates will be contacted for an assessment.
• Incomplete and doubtful/suspicious documents will not be accepted by the Bank.