SAINT LUCIA
OECS DATA FOR DECISION-MAKING PROJECT
IDA-7112
Assignment Title: FINANCIAL MANAGEMENT SPECIALIST
Reference No.: SLU-DDM-FM-CS-INDV-01-24
The OECS Data for Decision Making (DDM) Project is a regional project that seeks to improve the capacity of participating Eastern Caribbean countries to produce and publicly disseminate statistical data for country and regional level analytics. It will be implemented by Grenada, Saint Lucia, St. Vincent and the Grenadines, and the OECS Commission. The Project seeks to achieve the PDO by strengthening both national and regional level capacities. At the national level, Component 1 and Component 2 of the Project will strengthen national statistical systems through: (i) statistical modernization and capacity building and (ii) data collection, analysis, and dissemination, with a focus on the population and housing census, living conditions surveys, labor market surveys, and agricultural census. At the regional level, Component 3 of the project will support the OECS Commission’s mandate for regional integration and the strengthening of the regional statistical system. Component 4 will support project implementation, and Component 5 will provide a contingency option for immediate surge funding in the event of an eligible national emergency.
In Saint Lucia, the Department of Economic Development and Youth Economy (DED), within the Ministry of Finance, Economic Development and Youth (MoFED) will be the lead agency for the implementation of the Project. A Project Implementation Unit (PIU) for the Saint Lucia portion of the Project will be established in the DED in the MoFED under the Central Statistical Office (CSO), which is a Division within the DED in the MoFED. The PIU will be performing the day-to-day implementation of the Project, including Finance, procurement, Environmental and Social Safeguards, Citizen Engagement and Monitoring and Evaluation. It is in this regard that the Project is hiring a Financial Management (FM) Specialist to ensure compliance with the prevailing standards of financial administration and maintain an integral accounting system for the DDM Project, utilizing standard accounting procedures, which will ensure full documentation and recording of sources and uses of funds.
Reporting to the Deputy Project Coordinator, the responsibilities of the Financial Management Specialist include but are not limited to the following:
a. Maintain and update the accounting system for the Project, utilizing standard
accounting procedures and ensuring that it is consistent with the
Procurement Plans which will ensure full documentation and recording of sources and uses of funds;
b. Review payables and ensure prompt settlement of payables to suppliers and
contractors for the Project;
c. Prepare payment vouchers for the project and ensure funds are available
before cheques are written; including telegraphic transfers for overseas
payments and transfer of funds from the Designated Accounts to the Project
Accounts to facilitate local payments;
d. Prepare monthly reimbursements to Accountant General for payment of
salaries and other Project expenditures by the 28th of each month;
e. Work with Implementing Agency and Procurement team to gather the
information from their work plan that will serve as input to prepare budget
forecasts for the Project;
f. Work with the Safeguard Officer to ensure that budgetary provisions are
made for the efficient and expeditious payment of claims to Project affected
persons;
g. Prepare withdrawal applications for the project for draw down of the World
Bank funds;
h. Maintain filing system for Financial Management files including Payment
Vouchers, Bank Reconciliation Statements, Statement of Expenditure,
Reconciliations, Sale of Tender Documents, Withdrawal Applications and
Budget and Payroll;
i. Work in collaboration with the Procurement and Administrative staff of the
PIU to ensure that payment vouchers are also filed in procurement files
j. Lead the project audit exercise; provide annual financial statements to the
external auditors, liaise with the auditors and ensure timely receipt of the
audit report and submission to the World Bank;
k. Facilitate disbursement requests to the World Bank;
l. Prepare receipts and Cash Collection Sheets for Sale of Tender Documents for
the Project;
m. Participate in World Bank Missions and meetings with agencies on Project
status;
n. Make presentations on the financial status of the Project;
o. Participate in quarterly budget meetings;
p. Participate in Audit meetings;
q. Lead periodic review of the quality of the internal control processes at the
implementing entity PIU/CSO and where appropriate, initiate corrective
measures to improve the efficiency and effectiveness of the internal controls;
r. Support the development of the project risk management plans and ensure
project fiduciary risks are identified and mitigated.
The initial duration of the consultancy service rendered will be 12 months in the first instance with the provision for renewal subject to performance evaluation. The project duration is five (5) years.
The detailed Terms of Reference (TOR) for the assignment can be accessed using the following link: https://stats.gov.lc/about-us/tor-financial-management-specialist/
The Department of Economic Development now invites eligible individual consultants (“Consultants”) to indicate their interest in providing the services. Interested Individual Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services; (Curriculum Vitae with supporting certified copies of qualifications, description of similar assignments, etc).
Interested Consultants should have the following requisite minimum qualifications and professional experiences listed below for undertaking the assignment.
QUALIFICATIONS AND EXPERIENCE REQUIREMENTS FOR SELECTION OF AN INDIVIDUAL CONSULTANT ARE:
Mandatory
project, or in financial and budget management in a similar role;
Finance Regulations, World Bank Financial Management guidelines and
procedures, Contract Administration Guidelines, Accounting and Auditing
Standards issued by IFAC, Accounting and Financial Reporting, National
Insurance and other Labour-Related legislation;
and excellent web navigation skills.
The attention of interested Consultants is drawn to paragraph 3.16 of the World Bank’s Procurement Regulations for IPF Borrowers (Procurement Regulations) fourth edition, November 2020, setting forth the World Bank’s policy on conflict of interest.
A Consultant will be selected in accordance with the Individual Consultants (IC) method set out in the World Bank Procurement Regulations for IPF Borrowers (Procurement Regulations) fourth edition, November 2020
Further information can be obtained at the address below during office hours 8:00 a.m. - 4:00 p.m. (0800 to 1600 hours).
Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by Friday March 22nd , 2024.
OECS Data for Decision Making Project
Department of Economic Development
Attn: Deputy Project Coordinator, OECS Data for Decision-Making Project
2nd Floor, Finance Administrative Centre
Trou Garnier, Pointe Seraphine
Castries
Tel: 758-468-5817
E-mail: oecsddmproject@gmail.com
Subject Line: SLU-DDM-FM-CS-INDV-01-24