Financial Management Specialist

Position:

Financial Management Specialist (1)

Division:

Financial Management

Report to:

Chief Financial Officer (CFO)

Band:

C

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 entity. This position will assume a critical role in the success of MCA-Nepal. 

Position Objective

The Financial Management Specialist, under the supervision of the Chief Financial Officer, is responsible for examining the daily execution of accounting and finance transactions, monitoring the banking relationship, communicate with the fiscal agent, and serve a facilitating role in budget management and as focal point for the preparations for budgeting and auditing activities.

Duties and Responsibilities

Financial Management 

• Monitor budgets and daily cash flow ensuring that issues of overspend/underspend are anticipated and that remedial measures are raised to management; 
• Oversee the preparation and organization of finance and accounting documentation for budgeting, reporting, and audit activities, ensuring that information is accurate and traceable;

Risk Management

• Review and verify a range of transactions (including disbursements, transfers, etc.) and ensure MCA-Nepal/MCC finance and accounting guidelines are properly observed, and documentation is current and accurate to support reporting and audit activities;
• Examine bank records/reports to determine if any inconsistencies exist and advise the CFO and MCA-Nepal management of issues related to the banking relationships of the MCA-Nepal;

Planning

• Train MCA-Nepal staff on the proper use of accounting forms and accomplishment of finance and accounting transactions to ensure consistent compliance with MCA-Nepal guidelines and strengthen the transparency of the accounting function;

Administration & Operation

• Consolidate and maintain documentation on issues and best practices to support process improvement activities. 

Requirements (Education, Experience, Technical Competencies)

• Bachelor’s Degree in Accounting, Finance, Banking & Finance, Commerce, Financial Control, or Business Administration, Business Management, General Management, or in equivalent field.
• At least five (5) or more years of cumulative experience (not withstanding whether earned before, after or during pursuit of required academic qualification).
• Experience managing financial management processes.
• Excellent communication, coordination skills; demonstrated ability to interact and collaborate with people across departments, divisions and institutions.
• Good command of English and Nepali languages, both written and spoken.

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.