EAC-PSSIP ACCOUNTANT

EAC- PAYMENT AND SETTLEMENT SYSTEMS INTEGRATION

PROJECT (EAC-PSSIP)

TERMS OF REFERENCE – ACCOUNTANT

REFERENCE: EAC-PSSIP - 03 /2013

1.0. Background

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 EAC-PSSIP;

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 Find (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

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.