TOR – FINANCE CONSULTANT

TERMS OF REFERENCE

FINANCE CONSULTANT

1.     Background

The African Peer Review Mechanism was established in 2003 by the African Union Heads of State and Government with the primary purpose of fostering practices that lead to political stability, high economic growth, sustainable and inclusive development, as well as accelerated regional and continental integration. It seeks to rectify underlying deficiencies in governance and socioeconomic development processes among member states of the African Union. The APRM covers four thematic areas: (i) Democracy and political governance; (ii) Economic management and governance; (iii) Corporate governance; and (iv) Socio-economic development. Participating countries go through detailed review process (including consultations with government, the private sector, civil society and other stakeholders), culminating in a peer review exercise at the level of Heads of State and Government. This, as well as its voluntary nature, are important in buttressing and consolidating Africa’s ownership of its development agenda. As an assessment and monitoring tool, the APRM can also help to track progress towards meeting regional and international development aspirations and commitments including AU’s Agenda 2063 and the Sustainable Development Goals (SDGs). The African Union and the Heads of State are cognizant of this and in January 2017 expanded the mandate of the mechanism from the core reviews to monitoring and evaluation role for the African Union Agenda 2063 and the United Nations Sustainable Development Goals Agenda 2030. This is a reflection of the confidence still reposed in the mechanism and will contribute to the universalization of the APRM. The ultimate goal is that all member states of the AU will become members of the APRM.

In the past year the APRM has worked closely with the AU to conform all administrative functions of the Secretariat to AU rules and procedures. These functions include financial administration and systems; human resources administration; procurement; and information technology.

In the context of the strengthening the Finance and administration division at the APRM, the Organisation intends to appoint an experienced Financial Management consultant to support Finance unit.

2.    Objective

The Objective is to support the APRM Finance Unit in reviewing the existing internal systems and processes of the APRM and develop improved processes to ensure that the overall financial management system of the APRM is strengthened, robust and aligned to the AU Financial Rules and Regulations. The consultancy will also assist with transferring the know-how to the staff of APRM where necessary.

3. Scope of the work

The Consultant will provide support to the Finance unit of the APRM to ensure that throughout APRM implementation there are adequate financial management systems in place and that the APRM is adhering to the AU Financial Rules and Regulations. This should enable the APRM to have a systematic and disciplined approach to evaluating and improving the effectiveness of risk management control and governance processes. The consultant shall work in close consultation with the Head of Finance of the APRM.

The areas to be assessed include carrying out the following;

• Ensure proper functioning of the organisation’s Accounting system
• Ensure that the statutory financial statements and other financial reports are prepared in a timely and accurate manner and in compliance with the International Public Sector Accounting Standards (IPSAS)
• Develop operational work plans and oversees and coordinate financial services areas and related activities;
• Responsible for effective and timely preparation and implementation of the year-end and monthly financial closure process and timetable and lead the coordination between the organization and relevant offices at HQ
• Oversees the preparation of key financial reconciliations, journal entries and implementing appropriate policies, systems, procedures and practices to ensure the integrity of the general ledger
• Ensure that IPSAS is properly implemented in the recording and reporting of financial transactions, statements and other reports
• Ensure compliance with financial internal controls, and ensure that transactions are processed, and assets managed in accordance with AU Financial Rules and Regulations
• Prepare monthly/annual bank reconciliations and submission of timely and accurate reports to management, headquarters and partners as well as internal/external auditors
• Provide advice and ensure compliance with Financial regulations and other determined financial policies
• Ensure effective and efficient utilization of financial resources
• Promote best practices, transparency, accountability and appropriate working systems
• Effectively Supervise junior staff, and
• Perform any other relevant duty/responsibility assigned

4. Educational Qualifications

Candidates must have at least an Honours Degree in Accounting. A professional qualification in Accounting such as CPA, CA, ACCA, CIMA or equivalent from a recognized Institution will be an added advantage.

5. Work experience:

Consultant must have at least 8 years of relevant working experience in Financial Accounting and Reporting function, Auditing and Financials Management. Strong knowledge of International Public Sector Accounting Standards (IPSAS) or International Financial Reporting Standards (IFRS) is required. COMPUTER LITERACY Competent in standard software (Word, Excel, Access, and PowerPoint) and working knowledge of SAP ERP and ACCPAC.

6. Other Skills:

• Financial management and analytical skills;
• Knowledge of funding and other resource mobilization mechanisms;
• Knowledge of AU Financial Rules and Regulations
• Development of procedures and Computerized System design and implementation skills;
• Excellent interpersonal, report writing and communication skills;
• Excellent computer skills with practical knowledge of and experience in accounting softwares

7. Period of assignment:

• May2019 – December 2019

8. Location

• At the Secretariat in Midrand

Selection Criteria:

NB: All applications must be send to: [email protected]

Closing date: 11 May 2019 at 3pm RSA time.

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