Individual Consultant: Financial Management Specialist

Job Description

Estimated Duration: 01-Oct-2025 - 13-Jan-2028

Scope of Work

The Financial Management Consultant shall work under the supervision of Project Director and in close association with other members of PMU. The FM guidelines of ADB, while following rules and regulations of GoB, shall be the basis for financial management of the Project. These guidelines provide details of procedures to be followed by the project on the financial management arrangements such as: (i) Budgeting; (ii) Fund flows; (iii) Accounting; (iv) Internal controls; (v) Financial reporting; and; (vi) Audit based on statement of Audit Needs agreed with Controller and Auditor General (C&AG) of Bangladesh and put up in loan agreement (between ADB and DPHE, GoB).

The overall responsibility of the FMS shall be to maintain registers, books and other records, facilitate classification and analysis of financial information, check and verify’ bills and cheques, prepare required documents for timely replenishment/reimbursement of funds from ADB and/or GoB; prepare annual budget of Project, revised budget and financial plan and forecast annual and quarterly disbursements, liaise with (Chief) Accounts Office of MLGRD&C and auditors (internal, external) for facilitating smooth implementation of the project activities.

Detailed Tasks and/or Expected Output

The consultant shall support PMU and PIUs of the CHT-IRUWSSP in overall project management and specifically on financial management and accounting aspects. The consultant shall work under the overall supervision of PD, CHT-IRUWSSP and his/her tasks shall involve (but not limited to) the following:

1. Preparation of financial management and accounting procedures as a part of Project Administration Manual (describing project management procedures). This shall involve management of imprest accounts, role and responsibilities of drawing and disbursing officers, maintenance of book of accounts, bill entries, payment procedures, withdrawals/payments, recording etc.;
2. Guidance in setting up project accounts (to meet the requirements of ADB as well as GoB) both at PMU and PIUs;
3. Support the PMU, DPHE and PIUs in implementing the Financial Management Action Plan (FMAP) as agreed with ADB and outlined in the Project Administration Manual;
4. Prepare annual (and quarterly) budget estimates and disbursement plans for the project;
5. Support the PMU, DPHE and each PIU in ensuring that (i) separate accounts for the project are duly maintained in accordance with the applicable accounting standards, (ii) receipts and expenditures are duly segregated by financing source (e.g. ADB loan and government funding), (iii) consolidated project control records and registers are maintained for: (a) signed contracts and amounts disbursed under each contract, (b) expenditures claimed under the statement of expenditure (SOE) procedure under the respective ADB loan and (c) withdrawal applications claimed under the ADB loan, etc., as outlined in the project administration manual;
6. Support the PMU, DPHE in preparing quarterly cash need forecasts and ensuring that adequate ADB loan funds are available in the advance account and sub advance account to make payments in a timely manner and in accordance with the agreed financing percentages;
7. Support PMU, DPHE in ensuring all supporting documentation as outlined in the ADB’s Loan Disbursement Handbook are centrally filed in the PMU in an organized manner to allow easy access to ADB staff and auditors;
8. Support the PMU, DPHE in conducting (a) monthly reconciliations of the advance accounts including all sub-advance accounts; and (b) quarterly reconciliation of the project books of accounts/financial reports and ADB disbursement records to ensure the correctness and completeness of the project records and financial reports/statements. Follow-up on any discrepancies to ensure timely resolution;
9. Assist the PMU, DPHE in preparing annual project financial statements covering all expenditures incurred and receipts from all the funding sources (e.g. ADB loan and government funding) in a format agreed with ADB;
10. Support the PMU, DPHE in ensuring that the consolidated project financial statements are audited and that the audit report, audited financial statements, and the management letter(s) are submitted to ADB in a timely manner;
11. Support the PMU, DPHE and PIUs in the follow-up of internal and external audit recommendations/observations to further improve the internal controls of the project and to avoid recurring audit observations;
12. Support the PMU, DPHE in ensuring that all financial records are orderly filed and stored physically in safe location and an electronic back up is conducted regularly;
13. Device methodology and extend support in assessing O&M costs of WSS infrastructure and in tariff setting for sustainable water/sanitation services;
14. Undertake financial and economic analysis (EIRR, FIRR etc.) of project and/or its sub components including sensitivity analysis, risk analysis etc. and then suggest sustainability measures;
15. Compile set of best management practices of financial management and accounting under WSS projects and work on its adaptation/adoption to Bangladesh situation;
16. Review of project accounts and identify issues, if any and suggest needed improvements along with implementation modalities;
17. Compile relevant financial data and report on Financial Performance of Project other tasks related to the subject matter specialization (financial management) to meet the objective of the project, as asked on monthly, quarterly, and annual basis along with analysis and needed improvement measures;
18. Train PMU and PIU staff in preparation of annual budget estimates, disbursement plans. and undertaking EIRR and FIRR;
19. Review and analyze tariff setting, billing and collection system for WSS services at local levels and suggest needful improvements;
20. Guide Accounts Staff and provide hands on training on various aspects of financial management tasks, as needed;
21. Any other works related to financial aspects of project, as asked by the PD, PMU.

Minimum Qualification Requirements

Educational Qualification
Minimum Master of Commerce in Accounting/Finance or MBA with major in Accounting/ Finance or Accredited accounting professionals.

Experience
(i) Minimum 10 years of working experience as Financial Management Specialist of which at least 5- years working experience as financial expert with Government of Bangladesh and Multi-Development Banks’ project for contract payment. Working in sanitation and water supply sector is preferred. Should be conversant with ADB’s fund operating conditions and reporting requirements. Experience in working on ADB, WB or Multi-lateral Funding Agency assisted project will be an added advantage.

(ii) Should be well conversant and must have hands-on experience on iBAS++ or Tally or similar computerized accounting system with ability to guide its customization for meeting reporting requirements of ADB and GoB;

(iii) Should possess proven track record of developing a chart of accounts befitting the relevant computerized accounting system and the reporting.

(iv) Strong organizational and planning skills with the ability to work independently as a team player and under pressure

(v) Strong interpersonal communicative skills, experience in team leadership and participatory management.

(vi) Ability to train the project staff on financial management system.

Deadline of Submitting EOI: 03-Sep-2025 11:59 PM Manila local time