Taat Financial Management Specialist At Iita - International Institute Of Tropical Agriculture

Objectives

• The objective of this assignment is to engage an Individual Consultant for the Position of a Financial Management Specialist for the TAAT Program Management Unit to lead in all areas of financial management with the goal of ensuring that adequate fiduciary safeguards are maintained to assure accurate, reliable and timely financial reporting for the TAAT Program.

Responsibilities

• The Financial Management Specialist (FMS) will be the head of financial management and shall have the overall responsibility for implementing and managing the agreed program FM arrangements as well as supervising all accounts staff of the PMU.

Specific Duties:

• Overall lead for the program in the areas of budgeting, accounting, implementing internal controls, financial reporting and treasury management, and ensuring compliance with approved procedures.
• Lead the budget preparation process and present the program budget to the Program Steering Committee (PSC) and IITA.
• Manage budget execution and controlling expenditure to ensure that activities executed are in line with the approved budget and within the budgeted expenditures.
• Monitor budget execution and progress, including input to progress reporting for the program.
• Ultimate responsibility for the preparation of quarterly interim unaudited financial reports, as well as the annual program financial statements.
• Lead the development and regular update of the Program Financial Procedures Manual (PFPM) to standardize and streamline financial management practices within the program. The PFPM will also contain the relevant accounting policies and standards to be followed in the preparation of the program financial reports.
• Develop and implement business process improvement where appropriate, including computerization and automation of accounting and reporting.
• Develop and implement appropriate treasury procedure to ensure that the program never runs out of funds in the Special Account and Counterpart Funds Account.
• Ensure that advances are justified in line with Bank rules, and that monthly bank reconciliations are performed timeously for all program accounts, checked for accuracy, and that reconciling items are followed up promptly.
• Supervise all staff and activities of the program financial management unit, provide career guidance to staff, and conduct performance reviews (measuring subordinates' performance against agreed targets at agreed intervals).
• Liaise with the internal/external auditors and follow up on any audit queries or recommendations.
• Support the procurement process by reviewing and monitoring, in conjunction with the procurement specialist and the program coordinator, the FM aspects of procurement of goods, works, and services in accordance with the agreed procurement policy and procedures.
• Must possess good archiving and presentation skills, ability to follow up on Bank queries in a timely manner and avoid loss of program funds.
• Assist in field monitoring of program activities and help track physical progress of projects against their expenditures, providing variance reports and documenting reasons for such variations.
• Train the finance staff on using reporting tools for data analytics and on consolidating financial reports promptly for management and audit purposes.
• Carry out any other duties as assigned by the Program Coordinator or the Chief Financial and Risk Officer.

Educational Qualifications and Experience

• A qualified accountant with full membership of an internationally recognized accounting professional body such as CA, CPA, ACCA, CGMA.
• Possess a minimum of ten (10) years of post-qualification experience, of which four (4) years must be in a related position, preferably working on donor-funded projects.
• Possess a Master's Degree in Accounting, Business Administration, Public Administration or related Social Sciences.

Core Competencies:

• Have familiarity with the use of accounting software in recording, processing, and preparing financial reports.
• Have sound knowledge of IPSAS, IFRS or local accounting standards that comply with IPSAS or IFRS requirements, and application of those standards in practice.
• Have extensive experience in planning, budgeting, budgetary control, and financial reporting.
• Possess knowledge and experience of donor disbursement procedures and justification practices.
• Must be a team player and have the ability to meet reporting deadlines both at the PMU and compacts levels through the finance officers using a good tracking system.
• Must be prepared to undertake extensive field visits in support of implementation.
• Knowledge of data analytics and report consolidation.
• Knowledge of Oracle accounting system will be an added advantage.

Logistics and Reporting:

• The Consultant will be a member of TAAT PMU, based in Ibadan, Nigeria.
• The Consultant will primarily report to the TAAT Program and Head of the PMU who is coordinating the entire Financial and Fiduciary Management of the Program.
• He will also report to the Chief Finance and Risk Officer of IITA who manages the entire IITA Finance Management portfolio and holds overall fiduciary responsibilities of TAAT.

Duration:

• The duration of the assignment will be for an initial period of one year, renewable subject to satisfactory performance and fund availability from the donor.
• The assignment will commence in January 2027.