Job Description

Financial Management Consultant Location Hawaii :

Job Title: Financial Management Consultant

Sector: Governance - Financial Management

Location: Majuro, Republic of the Marshall Islands

Appointment: Local Hire

Background/General description:

Established in 1944, the World Bank (WB) is one of the world's largest sources of funding and knowledge for development solutions. In fiscal year 2014, the WB committed $65.6 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $22.2 billion was concessional finance to its poorest members. It is governed by 188 member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.

World Bank Governance Global Practice:

An effective and accountable governance framework, in the form of functioning institutions, is a necessary precondition for sustainable poverty reduction. Fragile, ineffective or inexistent institutions have long been put forward as explaining the relative underperformance of economies. Furthermore, poor governance and structural deficiencies in public and private institutions are often prevalent in fragile and conflict affected states. On the other hand, cross-country empirics have confirmed that higher institutional quality is correlated with higher levels of per capita income and greater economic growth. Thus, governance mechanisms and institutions are critical to sustained growth and poverty alleviation.

The Governance Global Practice (GGP) comprises a variety of different professional disciplines working on public institutions, including public sector management, governance and anti-corruption, procurement, financial management, social accountability, and justice reform.

The GGP interventions range from diagnostics, technical assistance and advisory services, knowledge management and sharing, creating peer learning platforms, lending and reform project implementation, and monitoring and reporting. An important part of its responsibilities is to deliver operational support to other Practices, including through inputs for project preparations, policy-based operations, hands-on implementation advice and direct fiduciary due diligence of investment financing.

The World Bank has substantially scaled-up its program and field presence in the North Pacific over the past few years and opened a new office in Pohnpei in 2022. The World Bank's current active portfolio in the North Pacific consists of 19 projects in the Federated States of Micronesia (FSM), Republic of Marshall Islands (RMI), and Palau with a value of approximately US $460 million in the sectors of digital development, transport, health, governance, energy, social protection, education, urban resilience, and environment.

Duties and Responsibilities :

The FM consultant will be based in Majuro, Republic of Marshall Islands, and will work on financial management (FM) aspects of the World Bank's operations in the RMI. The FM consultant will work under the supervision of World Bank FM Specialists and Senior FM Specialists. This will include, but not be limited to: (i) supporting the Pacific FM team in completing routine supervision work on selected projects, (ii) completing Interim unaudited Financial Reports (IFRs) and audit reviews for projects under the supervision of the assigned FMS, (iii) providing hands-on support to clients' FM and operations teams in order to achieve systematic recording and reporting of bookkeeping and accounts ensuring compliance with the Bank's audit and other fiduciary requirements; and (iv) carrying out other financial management related tasks as required by the World Bank's Pacific FM team. Specific activities will include:

· As advised by the assigned World Bank FM Specialist, review a sample of individual transactions, including those forming the basis of entries in IFRs and statements of expenditures (SOEs) supporting Withdrawal Applications, to determine the appropriateness of these documents and the adequacy of the internal control systems;

· Follow up any issues noted during supervision of project implementation, as well as on observations derived from reviews of audit reports, management letters, and IFRs, and assess the status of their resolution (e.g. Ineligible expenditures, internal controls weaknesses, non-compliance with financing agreement covenants, late IFRs, late audit opinions etc.);

• Identify existing or emerging project FM issues in consultation with Project Finance Officers and work with the World Bank FM Team to propose relevant solutions/support;
• Facilitate verbal and written communications between the World Bank FM team, country operations team, and the client/project teams;
• Facilitate the coordination of meetings, trainings, workshops, project missions, and other activities.

The FM consultant will work within the country team, which includes the Resident Representative, Operations Officer, Task Team Leaders, Financial Management Team, Procurement and other technical specialists, and Administrative and Client Service (ACS) staff.

The FM consultant will work under the supervision of the FM Specialists covering the North Pacific Region and will work closely with FM Specialists and FM Consultants on day-to-day operational matters.

This is a Short-Term Contract appointment through June 30, 2024 and may be renewed based on performance and continued business needs.

Selection Criteria:

• The candidate should be a holder of at least a bachelor's degree in accounting, business, finance, economics, or a related subject. Master's degree preferred.

• A recognized professional accountancy qualification is required.

• A minimum of 5 years of relevant professional experience in accounting, auditing, taxation, project management, or related field with a focus on public sector aspects. Prior work experience should cover a combination of the above areas.

• Oral and written fluency in English is required.

• Excellent writing ability

• Audit experience is preferred but not required.

• Candidate must possess the right to live and work in the Republic of Marshall Islands.

• Knowledge of current issues in financial management, particularly relating to the public sector and the financial management capacity constraints that exist, with an understanding of budget formulation, authorization and commitment, treasury and cash management, internal controls, internal audit and risk management, financial management information systems, accounting and reporting (including standards promulgated by the U.S. Governmental Accounting Standards Board) and accountability and oversight institutions (including SAI and external audit, INTOSAI standards and legislative scrutiny)..

• Ability to work with implementing agencies in a hands-on manner so as to train and build sustainable capacity.

• Experience in interpreting financial and project management reports and recommending remedial actions to be taken by the Bank or borrower.

• Knowledge in the application of accounting, auditing, and financial reporting systems and software packages.

• Experience in designing and assessing internal control systems and procedures using internationally accepted control frameworks.

• Deliver Results for Clients - Proactively address clients' stated and unstated needs.

• Collaborates within Teams and across boundaries - Provides own perspective on practical solutions to any problems identified.

• Create, Apply, and Share Knowledge - Applies knowledge particularly of the Pacific regional environment to strengthen solutions for internal and/or external clients.

How to Apply: Email a cover Letter and CV including the names and contact details of 3 professional referees, with the subject “Financial Management Consultant RMI” to the contact details provided here OR post it to Level 19, 14 Martin Place, Sydney, NSW 2000, Australia, with attention to Nickson Piakal.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability. Learn more about working at the World Bank and IFC, including our values and inspiring stories.

Closing Date: 7 January 2024

Job Types: Part-time, Contract

Salary: $150.00 - $200.00 per day

Benefits:

• Flexible schedule

Schedule:

• Choose your own hours
• Monday to Friday

Application Question(s):

• Do you have the right to live and work in the Republic of the Marshall Islands?

Education:

• Master's (Preferred)

Work Location: In person

Job Tags

Contract work, Temporary work, Part time, Work experience placement, Interim role, Bank staff, Work at office, Local area, Monday to Friday, Flexible hours,

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