JOB OPPORTUNITY AT JOINT SONGWE RIVER BASIN COMMISSION
Position: Financial Manager
Institution: Joint Songwe River Basin Commission
Duty Station: Kyela, Tanzania
Duration: To be recruited on permanent basis terms, to make full career in the service of the Commission, initially on probationary appointment in accordance with conditions of service of the Commission
Remuneration: A competitive package by regional standards and commensurate with the position and qualifications of the potential candidate as per SONGWECOM guidelines.
Reports to: Executive Secretary
The Governments of the United Republic of Tanzania and the Republic of Malawi established the Joint Songwe River Basin Commission (SONGWECOM) through a convention, which was developed under Phase II of the joint Songwe River Basin Development Programme (SRBDP). The Convention was signed on 18th May, 2017 and came into force on 1st July, 2018 after ratification by both governments. The SONGWECOM is a bilateral transboundary river basin organization established to sustainably manage the basin natural resources and implement the Songwe River Basin Development Programme (SRBDP) on behalf of the two governments. The Commission consists of three permanent organs: (i) The Council of Ministers (Council), (ii) The Joint Steering Committee (Committee) and (iii)The Secretariat.
Among the objectives of the Commission, as per the Convention, is to coordinate and implement the developmental aspect of the basin under the SRBDP and manage associated assets which includes dam(s), hydropower plants, irrigation systems and associated infrastructure.
The SONGWECOM now invites applications from qualified citizens of Malawi and Tanzania for the Position of Financial Manager for the Commission. The successful applicant will be responsible for maintaining financial records, providing timely financial information to management of the Commission and to ensure compliance with Financial Rules and Regulations. Being the key member of management of the Commission, he/she is expected to provide guidance to the Secretariat in budgets management and organization of an optimal cost-recovery system, implementation of financial operational strategies and procedures, ensure proper control of accounts and facilitate knowledge building in accurate financial resource management.
Duties and Responsibilities
Budgeting and Planning
- Support the SONGWECOM in preparing annual work plans and budgets in accordance with SONGWECOM budgeting rules and regulations prescribed in the Financial Management Manual.
- Prepare annual cash plans on the basis of the work plan for monitoring expenditure on cash basis.
- Upload annual budget on SONGWECOM MIS and prepare monthly monitoring reports comparing actual expenditure against the budget. Highlight weak performing areas for attention of management.
- Prepare annual and quarterly disbursement forecasts in line with the procurement plans and work plans.
- Prepare cash forecasts in coordination with SONGWECOM experts for financing.
- Prepare and process withdrawal applications in accordance with SONGWECOM and other Financiers’ Disbursement Guidelines.
- Prepare revenue and expenditure forecasts for SONGWECOM.
- Track funds, including revenue from own sources, and follow up with financiers and national banks holding SONGWECOM accounts to ensure timely credit of funds into the Commission’s assignment account.
- Ensure compliance with internal control framework in accordance with SONGWECOM Financial Management Manual while processing payments.
- Analyse, plan, design, implement, and monitor a system to augment internal controls in line with best practices in the process of payment and expenditure management.
- Apply pre-audit checks on all payments before payment from the assignment accounts including budget availability, sanction of competent authority and compliance with applicable financial rules & regulations.
- Ensure that all payment processes are met for every prior review activity before processing any payment.
- Ensure that only eligible payments are forwarded for ES’s approval and drawing funds from the assignment account.
- Manage financial aspects of the contracts under implementation, including payment terms, purchase orders and variation orders.
Accounting and Record Management
- Record all transactions timely and accurately in the books of accounts and ensure that no expenditure remained unaccounted and update the SONGWECOM MIS.
- Maintain accounts on cash basis as per SONGWECOM Financial Management Manual.
- Oversee the process of entering transaction level data in the SONGWECOM MIS and generating vouchers from the system
- Ensure up-to-date maintenance of adequate registers, books of accounts and records in appropriate order and format to meet the governments’ and other financiers’ requirements.
- Facilitate classification and analysis of the financial information for monitoring progress.
- Prepare supplementary record which provides timely and up-to-date financial information of all service providers.
- Maintain imprest of petty cash and ensure maintenance of separate petty cash book and petty cash vouchers and compliance with the Financial Management Manual.
- Prepare monthly reconciliation statements of accounts.
- Reconcile expenditure based on prescribed formats from different financiers on monthly basis.
- Be the payroll manager and process monthly payroll of SONGWECOM employees. Ensure proper payroll controls are applied and the payments are made directly in the Bank accounts.
- Prepare and process monthly payroll and submit to ES for approval prior to making any payment under salaries.
- Ensure that the fixed assets records are maintained for any project identifying location and user of each asset and arrange for the annual and periodical inventory of the assets and updating of the records.
- Ensure safe custody of all financial records for review by third party monitoring agents including external and internal auditors.
- Prepare quarterly financial summaries and submit to management.
- Draft financial statements as per Cash Basis IPSAS and:
- Ensure that Management has reviewed and adopted them as Unaudited Financial Statements:
- The designated Authorities have signed them; and
- submit to the Independent External Auditors within two months of the close of the financial year.
- Prepare periodic financial reports specified under the Legal Agreement or as recommended by Financiers.
- Ensure that all SONGWECOM financial reporting requirements are complied with the Financial Management Manual.
- Ensure that SONGWECOM financial status and statement of Receipts and Payments are submitted to the ES on monthly basis.
- Make arrangements for timely initiation and completion of audit and ensure that report produced is in compliance with audit requirements for SONGWECOM and financiers of the Commission and projects it implements.
- Ensure that internal audit is periodically conducted in accordance with the internal audit plan.
- Improve project financial management, particularly in terms of following up action points agreed with development partners in financial agreements, supervision missions from financiers and recommendations of external auditors and internal auditors.
- Attend entry and exit meetings with external auditors, facilitate timely completion of audits by arranging timely submission of annual financial statement in appropriate format, supply of information and documents responding to queries, initiate actions and coordinating with various units in meeting audit objections.
- Prepare working papers on audit observations raised by external auditors and arrange to convene meeting to settle audit observations to the extent legally and logically possible.
- And any other tasks as may be assigned by the Executive Secretary from time to time.
- At least a Bachelor’s Degree in Accountancy, Finance, Business Administration, Economics or relevant discipline. A Master’s degree in Financial Management, Corporate Finance, Project Finance or Business Administration will be an added advantage.
- Should be certified by a recognized board like Association of Certified Chartered Accountant (ACCA), Association of International Certified Professional Accountants (AICPA) or Certified Public Accountant (CPA) etc.
- At least 7 years of relevant experience of which a minimum of 3 years should be managing finances in donor funded projects.
- Excellent analytical and communication skills
- Demonstrated Computer Skills (Proficiency in using computer desktop application MS Office (Access, Word, Excel, and Power Point) and conversant with basic accounting software.
- Should not be more than 57 years of age.
Potential candidates who meet the aforementioned requirements for the position are advised to send their application letters with a detailed CV, copies of certified relevant certificates and contact details of three referees by email to:
The Joint Steering Committee
Joint Songwe River Basin Commission
P. 0. Box 300
Closing date for receipt of applications is 24th November, 2022 at 17:00 hours EAT.
Please, note that only shortlisted candidates will be contacted.