Thinking of a Career in Emergency Management?
- BY Nicole Pelette
1. Assess the financial management capacity of each project implementing entity and the adequacy of its proposed project financial management arrangements, and determine if they are adequate and acceptable by:
- Reviewing information provided in the Integrated Assessment Framework, entity policy documents, annual reports, websites, conducting interviews and consultations with proponents and field visits etc.;
- Identifying any risks and assessing the potential impact the risks may pose to the successful implementation of the project; and
- In consultation with the Task Managers and the implementing entity, determining the necessary risk mitigating measures that need to be undertaken/observed throughout the project cycle.
- Grant recipients have adequate and acceptable capacity, policies, processes and systems to effectively manage the funds; and
- Potential risks are identified, documented and mitigation measures designed and agreed upon.
2. Review the proposed budget and funding sources for the project ensuring that the budgeted activities are consistent throughout the proposal and amounts are reasonable and in accordance with approved cost categories:
- Working with Task Manger, proponent, Cities Alliance members, and consulting the approved cost categories and other relevant documentation (e.g. cost of similar activities supported by Cities Alliance or other members in the respective country) to determine the reasonableness of cost estimates;
- Working with Task Manager to obtain clarifications on any issues and ensuring that necessary modifications are made to the budget; and
- Recommending appropriate disbursement arrangements including number and size of installments, timing and banking of grant funds.
- Proposed budgets are reasonable and consistent with Cities Alliance approved categories and levels;
- Requested funding and proposed project activities are coherent; and
- Disbursement arrangements that meet project needs and safeguard grant funds.
3. Work closely with Task Manager and each grant recipient during project implementation to ensure that financial management arrangements continue to be adequate and acceptable:
- Monitoring the timeliness of submission of Interim Financial Report, reviewing the reports to ensure their accuracy and that they are in accordance with internationally accepted accounting standards or specific financial regulations as may be stated in the Agreement and that they are in the agreed format;
- Conducting field supervision missions to review and ascertain that grant funds are administered in accordance with international acceptable accounting standards, terms of the grant agreement and that appropriate records and supporting documents are maintained by recipients;
- In consultation with Task Managers ensuring that the utilization of Cities Alliance grant funds is consistent with the progress of project implementation;
- Monitoring the submission of Audited Financial Reports, reviewing the reports to ensure they are acceptable; and
- Jointly with the Task Managers taking necessary follow up actions on any issues with respect to all financial/budget aspects of the project.
- Grantees’ financial management arrangements are adequate and acceptable throughout project cycle;
- Grantees submit reports on a timely basis which are of acceptable quality in content and accuracy and in agreed formats; and
- Fund disbursement is consistent with progress of implementation.
4. Provide guidance and advice to Task Managers on acceptable financial management arrangements for grant recipients and as opportunity arises, support grantees in enhancing their financial management capacity:
- Providing written feedback to grantees on financial management arrangements, including guidance and how to address weaknesses that may be identified and improve processes and systems for recording and reporting of financial transactions; and
- Contributing to the development of guidelines and checklist on FM aspects of grant making for use by Task Managers and recipients.
- Task Managers and other relevant Cities Alliance staff have the prerequisite knowledge and understanding of the key financial management aspects of projects;
- Grantees’ ability to prepare and submit accurate financial reports improves over time; and
- FM guidelines and checklist on grant making and supervision available for both staff and recipients.
5. At project closure, follow up on any financial management issues ensuring that agreed actions have been undertaken and acceptable final Interim and/or Audited Financial Reports have been submitted and are satisfactory:
- Reviewing final financial reports, ensuring that all grant funds have been properly accounted for;
- Documenting any significant issues that affected the financial management performance of the project and key lessons that may inform future partnership with a specific grantee;
- Recommending any follow-up actions needed before financial closure of projects such as refund of grant funds, submission of additional information etc;
- Providing clearances for financial closure of projects; and
- Ensuring that the grantees’ reports and reviews thereof are submitted to Cities Alliance Information Management team for filing and record keeping.
- Grantees have consistently submitted accurate and satisfactory financial reports;
- Grant funds are utilized in accordance with approved project budget and for the agreed purpose; and
- Grantees’ have complied with all conditions as stated in the Grant Agreement with respect to financial management arrangements and risk mitigation measures at all times.
- Master’s degree in Finance, Accounting or Business Administration is required
- Bachelor’s degree in combintation with 2 additional years of working experience can be accepted in lieu of Master’s degree.
- Relevant professional qualifications (CPA, CA, CFA, ACCA or equivalent) would be a strong asset.
Minimum of 5 years working experience in all financial aspects of grant making is required, including:
- Assessing the financial management capacity and arrangements of implementing entities especially national and local governments, international development agencies, NGOs, CBOs etc.;
- Providing advice on the design of and implementation of funds flow, disbursement and reporting arrangements;
- Reviewing of interim and audited financial reports including a global perspective;
- Assisting grantees in understanding of the financial management arrangements and reporting requirements associated with grants;
- Demonstrated experience in assessing internal control systems and procedures of potential grantees and providing advice on areas for improvement;
- Excellent knowledge of private and public accounting and auditing standards;
- Excellent understanding of information systems and application of new technology including: banking, accounting and financial reporting;
- Knowledge and experience working with Cities Alliance or similar organisations on financial aspects of grant making is highly desired;
- Experience working in developing countries is highly desired;
- Experience working in a multi-cultural environment;
- General understanding of the role of UN agencies.
- Fluency in English is required
- Proficiency in French is strongly desired
- Proficiency in Spanish and/or Portuguese would be considered an advantage