Financial Management Short Term Consultant, Nigeria 151 views0 applications

Full Time Nigeria Finance Print


Financial Management Short Term Consultant

Start Date: July 01, 2025

Express Interest By: 4/1/2025

Duration: 60

Topics: Not Available

Business Function: Not Available

Skills: Financial Management;Accounting and Audit;Internal Controls;

Language Skills: English,

Assignment Location: Nigeria

Institution: IBRD

VPU: AFR

Contact Person: Oluwakemi Folake Balogun ([email protected])

Task Description: The Financial Management unit within the Governance team is engaging a Short-Term Consultant (STC) for the Nigeria Country Office with responsibilities for supporting financial management (FM) in respect of projects financed by the World Bank Group. The STC shall work under the supervision of members of the FM unit with specific duties and responsibilities agreed upon with the FM team lead.

These will include, but are not limited to:

  • Support the conduct of Financial Management Supervision and implementation support for approved projects. The supervision activities will involve:
    • Review of compliance with agreed FM arrangements for the project, including the arrangements for staffing, budgeting, accounting, internal control, funds flow, financial reporting, and external audit.
    • Testing of internal controls; Review of budgeting systems and internal audit arrangements.
    • Review of funds flow arrangements – the arrangements should facilitate the flow of funds between the Bank, the project, and its beneficiaries; enable timely submission of acceptable withdrawal applications to the World Bank; and be achieved through secure banking arrangements.
    • Review the arrangements for managing the Designated Accounts, including tracing a sample of withdrawals and transfers from the Designated Accounts to determine that these are used for eligible expenditures for which claims have been duly submitted to the World Bank.
    • Review of the arrangements for managing the Project Account (where applicable), including tracing sample Payment Vouchers and transfers from the Project Account to determine that these are used for eligible expenditures.
    • Determine whether project counterpart funds or government contributions (where applicable) that were provided by the Government are used per the financing agreement and accounted for properly.
    • Follow up on actions taken to address Bank review comments of the last audited financial statements and management letters.
    • Prepare FM Supervision Report for sharing with the task team in a timely manner. as per the template provided. eoDrdBR BTn6yA
    • Review of interim financial reports for assigned projects and financial monitoring reports for projects using the report-based disbursement method.
    • Review of Annual Audited Financial Statements for assigned projects, ensuring review deadlines are met.
  • Support the FM team in conducting training and workshops for project staff.
  • Support planning of supervision and monitoring compliance with policies and procedures related to financial management.
  • Support the risk assessment update for projects and provide options for mitigating high levels of fiduciary risk.
  • Statement of Expenditure (SOE) and /or Transaction Reviews: Detailed SOE and/or transaction reviews would be undertaken as part of the FM Supervision. The aim is to ensure eligibility of expenditures, adequacy and sufficiency of documentation, and proper procedures for and controls over statement of expenditure use.
  • Support the conduct of Financial Management Assessments for projects and programs under development. This will include but not be limited to;
  • Reviewing the FM arrangements in place in the identified implementing agencies.
  • Doing a walk-through of the systems and procedures to determine robustness, identify gaps, and provide a complete description of the arrangements including recommendations for additional measures to strengthen effectiveness.
  • Reviewing and proposing the design of FM arrangements covering staffing, budgeting, internal controls, financial reporting, funds flow, and external audit that would facilitate the achievement of the project’s development objective and provide reasonable assurance that funds are used for intended purposes with due regard to economy and efficiency.
  • Prepare a draft FM assessment and related diagrams and presentations.
  • Any other task assigned by the FM coordinator to support the work of the FM unit.

More Information

  • Job City Nigeria
  • This job has expired!
Nigeria The World Bank
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World Bank Group

The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and most famous development bank in the world and is an observer at the United Nations Development Group. The bank is based in Washington, D.C. and provided around $61 billion in loans and assistance to "developing" and transition countries in the 2014 fiscal year.The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity.Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion.Its five organizations are the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID).

The World Bank's (the IBRD and IDA's) activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation and rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, and electricity), large industrial construction projects, and governance (e.g. anti-corruption, legal institutions development). The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the country's economy as a whole. For example, a loan to improve coastal environmental management may be linked to development of new environmental institutions at national and local levels and the implementation of new regulations to limit pollution, or not, such as in the World Bank financed constructions of paper mills along the Rio Uruguay in 2006.

The World Bank has received various criticisms over the years and was tarnished by a scandal with the bank's then President Paul Wolfowitz and his aide, Shaha Riza, in 2007

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0 USD Nigeria CF 3201 Abc road Full Time , 40 hours per week World Bank Group

Financial Management Short Term Consultant

Start Date: July 01, 2025

Express Interest By: 4/1/2025

Duration: 60

Topics: Not Available

Business Function: Not Available

Skills: Financial Management;Accounting and Audit;Internal Controls;

Language Skills: English,

Assignment Location: Nigeria

Institution: IBRD

VPU: AFR

Contact Person: Oluwakemi Folake Balogun ([email protected])

Task Description: The Financial Management unit within the Governance team is engaging a Short-Term Consultant (STC) for the Nigeria Country Office with responsibilities for supporting financial management (FM) in respect of projects financed by the World Bank Group. The STC shall work under the supervision of members of the FM unit with specific duties and responsibilities agreed upon with the FM team lead.

These will include, but are not limited to:

  • Support the conduct of Financial Management Supervision and implementation support for approved projects. The supervision activities will involve:
    • Review of compliance with agreed FM arrangements for the project, including the arrangements for staffing, budgeting, accounting, internal control, funds flow, financial reporting, and external audit.
    • Testing of internal controls; Review of budgeting systems and internal audit arrangements.
    • Review of funds flow arrangements - the arrangements should facilitate the flow of funds between the Bank, the project, and its beneficiaries; enable timely submission of acceptable withdrawal applications to the World Bank; and be achieved through secure banking arrangements.
    • Review the arrangements for managing the Designated Accounts, including tracing a sample of withdrawals and transfers from the Designated Accounts to determine that these are used for eligible expenditures for which claims have been duly submitted to the World Bank.
    • Review of the arrangements for managing the Project Account (where applicable), including tracing sample Payment Vouchers and transfers from the Project Account to determine that these are used for eligible expenditures.
    • Determine whether project counterpart funds or government contributions (where applicable) that were provided by the Government are used per the financing agreement and accounted for properly.
    • Follow up on actions taken to address Bank review comments of the last audited financial statements and management letters.
    • Prepare FM Supervision Report for sharing with the task team in a timely manner. as per the template provided. eoDrdBR BTn6yA
    • Review of interim financial reports for assigned projects and financial monitoring reports for projects using the report-based disbursement method.
    • Review of Annual Audited Financial Statements for assigned projects, ensuring review deadlines are met.
  • Support the FM team in conducting training and workshops for project staff.
  • Support planning of supervision and monitoring compliance with policies and procedures related to financial management.
  • Support the risk assessment update for projects and provide options for mitigating high levels of fiduciary risk.
  • Statement of Expenditure (SOE) and /or Transaction Reviews: Detailed SOE and/or transaction reviews would be undertaken as part of the FM Supervision. The aim is to ensure eligibility of expenditures, adequacy and sufficiency of documentation, and proper procedures for and controls over statement of expenditure use.
  • Support the conduct of Financial Management Assessments for projects and programs under development. This will include but not be limited to;
  • Reviewing the FM arrangements in place in the identified implementing agencies.
  • Doing a walk-through of the systems and procedures to determine robustness, identify gaps, and provide a complete description of the arrangements including recommendations for additional measures to strengthen effectiveness.
  • Reviewing and proposing the design of FM arrangements covering staffing, budgeting, internal controls, financial reporting, funds flow, and external audit that would facilitate the achievement of the project's development objective and provide reasonable assurance that funds are used for intended purposes with due regard to economy and efficiency.
  • Prepare a draft FM assessment and related diagrams and presentations.
  • Any other task assigned by the FM coordinator to support the work of the FM unit.

 2025-04-01

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