East African Community Secretariat
EAC - Payment
and Settlement Systems Integration Project (EAC - PSSIP)
Terms of Reference: Accountant
Reference: EAC - PSSIP - 03 / 2013
Following a
request from EAC Secretariat to the African Development Fund (ADF) for support
to the areas of Payment and Settlement Systems Integration of the EAC Financial
Sector Development and Regionalization Project (FSDRP1), the ADF committed to
provide a grant in support of the establishment of EA Payment and Settlement
Systems Integration Project (EAC-PSSIP) in the EAC region.
The Protocol
Agreement amounting to Fifteen Million Units of Account (UA 15,000,000) signed
between EAC and ADF to fund the 4 years project.
The EAC-PSSIP is
aimed at complementing the integration of the regional Financial Market
Infrastructure to facilitate the undertaking of cross border funds transfers in
support of the economies of the region as a whole, together with providing
outreach to rural areas in order to encourage greater participation in the
formal financial sector.
The objective of
the EAC PSSIP is to develop a robust environment for both wholesale and retail
payment and settlement systems and to facilitate market integration, support
effective application of monetary policy and financial markets aimed at
enhancing safety and efficiency in the overall payment and settlement systems.
This will
ultimately contribute to the pursuit of sound macroeconomic policies and
improve the functioning of regional integrated financial markets.
The project
includes the following key components:
(i) integration
of financial market infrastructure;
(ii)
harmonization of financial laws and regulations; and
(iii) capacity building.
It is expected
that integration of existing systems will be substantially completed by 2014
and that the regional technological platform will be in place by 2016.
2.0. Main purpose of the Assignment
The main
objective of this assignment is to perform efficient and effective financial
administration and management of all funds of the EAC-PSSIP and other related
responsibilities as may be assigned from time to time. The Accountant will
report to Project manager.
3.0. Duties and responsibilities
The key
responsibilities of the Accountant will include:
a) To manage and
administer all the funds of the EAC-PSSIP in accordance with the African
Development Bank (AfDB) Financial Regulations and Disbursement Guidelines for
Projects in a view to ensuring a transparent and efficient financial management
system for the Project;
b) Manage and
monitor effective maintenance of books of accounts and ensuring that all
financial transactions are in line with the AfDB Financial regulations;
c) Generate
payment vouchers, cheques, local purchase orders for all transactions relating
to the EAC-PSSIP as well as other relevant expenditures;
d) Reconcile
ledger accounts of the EAC- PSSIP and follow up imprest given to staff;
e) Monitor and
ensure that enough funds are available in the EAC- PSSIP and initiate
disbursement requests through withdrawal application as and when required;
f) Prepare and
submit annual financial reports, quarterly interim financial report, monthly
reports and any other Financial Reports as directed by the project manager;
g) Ensure full
documentation of program expenditures during preparation of Withdrawal
Application and financial reports;
h) Maintain
regular and timely accounting records and prepare weekly, monthly, quarterly
and annual financial reports;
i) Prepare
financial reports for accountability of the funds disbursed and analysis of
accounts so that decision makers receive timely and accurate information;
j) Assists
National Core Project Teams of the EAC-PSSIP to prepare budgets for the
activities requested;
k) Monitor the
expenditures of the project with a view of ensuring that the amounts budgeted
for, under exact expenditure head is not exceeded;
l) Prepare
payments and allowances for the implementation of EAC-PSSIP;
m) Prepare
accounting reports for EAC- PSSIP for EAC Secretariat and stakeholders involved
in the implementation of the project;
n) Prepare
documentation for direct payment for goods and services;
o) Maintain
ledgers and implementation strong internal control systems in order to
facilitate timely financial reports, budget and accountabilities;
p) Maintain the
asset register and their depreciation schedules of the EACPSSIP;
q) Manage credit
levels for various debtors and creditors and follow-up for payments and refunds
where applicable;
r) Prepare and
submit financial statements to the external auditors; and
s) Perform any
other duties as may be assigned from time to time by the Project Manager.
4.0. Qualifications and experience
a) Must have a
Master’s degree, from a recognized University, in either, Finance, Business
Administration, Accounting or any other related field,
b) Must have
professional qualifications in Finance such as ACCA, CPA, CIMA etc.
c) Relevant
working experience of not less than 4 years preferably with a project funded by
AfDB and/or other Multilateral Development Banks at national or regional level.
5.0. Competencies and skills
a) Applicants
should be proficient in various Computerised Financial Management Information
Systems such as the Sun System Accounting Package and other computer packages;
b) Good
interpersonal and communication skills;
c) Ability to
work in a multi-cultural environment;
d) Ability to
work with minimum supervision.
6.0. Terms and conditions of service
This is an
EAC-PSSIP project position supported by African Development Fund (ADF), and is
a non-established position for which contract terms are limited to the period
of the project, and may be renewed subject to performance and extension of the
funding.
The Accountant
will be recruited by the EAC Secretariat for an initial period of two years
including a probation period of six months.
The contract may
be renewed contingent upon project budgeting and a satisfactory performance
evaluation. Attractive consolidated remuneration packages for fixed contract
positions will be paid in accordance with the EAC-PSSIP budget.
7.0. Starting Period: October, 2013.
8.0. How to apply
Download EAC Job
Application Format from the EAC website
Interested
candidates should submit their applications quoting the reference number of the
position applied for by registered mail, courier service, e-mail (all soft
copies should be in MS Word) or dispatch together with Curriculum Vitae, copies
of both academic and professional certificates and testimonials, names and
addresses of three referees, and day time tele/cell phone contacts to:
The Secretary
General
East African
Community Secretariat Headquarters
EAC Close
P.O. Box 1096
Arusha -
Tanzania.
Fax No: 007 27
2502455/2504481
E-mail:
eac@eachq.org
To be received
not later than 5th September, 2013
The East African
Community is an equal opportunity employer.
Female
candidates are encouraged to apply.
We shall only
respond to those candidates who strictly meet the set requirements.
