Chief Financial Officer (CFO)

Position: Chief Financial Officer (CFO) 

Division: Financial Management 

Reports to: Executive Director/Chief Executive Officer (ED/CEO) 

Band: D 

Background & Project Description: 

In September 2017, the U.S. Government’s Millennium Challenge Corporation (MCC) signed a $500 million compact agreement with the Government of Nepal. The compact aims to increase the availability and reliability of electricity, maintain road quality, and facilitate power trade between Nepal and India - helping to spur investments, and accelerate economic growth.  The compact agreement is valid for a period of five years, and is currently in implementation stage, prior to Entry-Into-Force (EIF) at which time the five-year time period begins. 

Pursuant to the aforementioned agreement, the entity charged with implementing the project has been established as the Millennium Challenge Account Nepal (MCA-N) entity. This position will assume a critical role in the success of MCA-N. 

Position Objective: 

The Chief Financial Officer (CFO) leads the Financial Management Directorate and has overall responsibility for MCA-N financial management activities.  The CFO reports directly to the ED/CEO of MCA-N.  He/she manages up to 4 full-time financial management staff, overseas the external Fiscal Agent, as well as short-term consultants as required. 

Duties and Responsibilities: 

Financial Management 

• Ensures adherence to all financial management provisions of the Compact and related documents; 
• Oversees the Fiscal Agent contract to ensure that the Fiscal Agent is providing all the financial management services, such as funds control and payment processing, required in its contract and in the Fiscal Agent Agreement 
• Reviews and updates a financial management operation manual, known as the Fiscal Accountability Plan (FAP), which outlines all procedures necessary for financial management operations, documents sound internal controls, and designates the officials that have the authority to approve obligations, verify receipt of goods and services, and execute payments 

Planning  

• In coordination with the Project/Unit Managers, estimate the future period cash flow requirements for each Project/Unit, and ensures that all accompanying reports are delivered according to the required schedule 
• Oversee automated accounting and financial management system. As necessary, manages system updates and improvements in coordination with external consultants  
• Plans and oversees audit requirements and ensures audit findings are resolved timely 
• Develops and manages all program accounting reports, including special reports required by the MCA-N or the Board of Directors and the Government of Nepal 

Risk Management  

• Monitors and ensures compliance with all aspects of the FAP 
• Ensures that MCC funds are exempt from all taxes and refunds for taxes are paid as detailed in the Compact Agreement, Program Implementation Plan, and/or any other associated agreements 
• Supports preparation of MCA-N’s annual Program budget for the entire Compact period, as well as detailed budgets with the Projects/Unit and any Implementing Entities 
• Coordinates the development of quarterly disbursement requests for funding from MCC 
• Serves as liaison with the Project/Unit Managers, other personnel, and any Implementing Agencies on financial matters and issues 
• Monitors expenses against budgets to ensure adequate resources and control of funds.  Provides quarterly contract disbursements and other necessary information to the M&E Directorate in order to track process milestones for the Compact 
• Supervises the processing and analysis of project-related expenses and ensures that they are in accordance with approved budget, MCC policies, and government procedures 

Administration & Operations 

• Manages and reviews the work of related personnel and ensure quality of outputs and provide day-to-day supervision 
• Assists in matters related to office insurances, which includes assets insurance, public liability insurance, directors’ and officers’ liability insurance 
• Reviews and provides advices to contracts related to the day to day operations of MCA-N; 
• Performs other tasks and special projects as assigned 

Requirements (Education, Experience, Technical Competencies): 

• Must hold Bachelor’s Degree (minimum) and Master’s Degree preferred from a recognized institution in the following or equivalent fields: Accounting, Banking & Finance,  Commerce,  Finance, Financial Control, Chartered Accountancy Business Administration, Business Management, General Management, Economics, or in equivalent field 
•  Chartered Accountant, Certified Public Accountant holding a Certified Accountancy or equivalent Financial Management certification is a plus 
• Seven (7) or more years of progressive professional experience preferred, (accumulated after acquiring Bachelor’s Degree) in managing the corporate finance or finance function, preferably in international development, governmental organizations, or donor agencies 
• Proven ability to oversee and manage daily operations of a financial management unit 
• Ability to develop complex budgets and manage related financial transactions 
• Experience in developing and managing financial management processes, preferably involving development-partner assistance  
• Experience in managing balance sheets, managing costs and containing risks  
• Experience in instilling a financial discipline within the organization, while dealing complex internal and external regulations 
• Experience in the development, implementation and maintenance of automated accounting and financial management systems. Advantage for specific experience in SAP-based systems 
• Knowledgeable about taxation issues especially relevant to project development organization 
• Excellent command of English and Nepali languages, both written and spoken 
• Excellent communication, coordination skills, management and supervisory skills; demonstrated ability to interact and collaborate with people across departments, divisions and institutions 

This Position Description is subject to revisions/updates as necessary to ensure alignment to the organization’s strategic direction and structure. Revisions to the description are subject to applicable Human Resources policies and procedures, and official versions of each Position Description are maintained by Human Resources. 

To Apply:  

The application should be completed & submitted through the Electronic Recruitment Application (ERA) www.rollingplans.com.np/MCA-N and should include a cover letter along with a targeted resume which demonstrates the requirements of the job position. The application needs to be received latest by September 18, 2018 (Monday) before NPT 17:00 hrs. (GMT +5.45). 

This position is open to all the interested applicants; competitive local compensation package will be offered. Only shortlisted candidates will be contacted for further selection process(es).