Financial Controller (FC) at Federal Ministry of Agriculture & Rural Development

Location: Port Harcourt, Rivers
Job Type: Contract (1 year)
Unit/Office: Project Coordination

Main Responsibilities

• Within the framework of the project design report and loan/grant agreements, the Financial Controller is responsible for the financial and administrative management of the project, including accounting, budgeting, financial reporting, internal controls, auditing arrangement, flow of funds and the efficient management of project resources.

Specific Duties

• Master IFAD key documents such as, the disbursement handbook, procurement guidelines and handbook, IFAD guidelines for project audits, the Financing Agreement (FA) and the Letter to the Borrower (LTB) as well as the Project Financial Procedures Manual.
• Consolidate and prepare together with the Regional Project Coordination Office (RPCO) team and M&E Coordinator, the annual work plan and budget (AWPB) and the budget and financing plan.
• Develop and maintain an efficient accounting system and reliable internal control procedures (including authorization levels, segregation of duties etc.) and guidelines for financial reporting and record keeping.
• Prepare, review and monitor the project’s budget, including financing plan, procurement plan (together with the Procurement Officer), and staff development plan (together with the training focal point).
• Prepare/verify all withdrawal applications for submission to IEAD, and ensure the availability of funds for all planned activities. Manage the project’s bank accounts, approve and co-sign all payments.
• Ensure payments are authorized, and recorded in the accounting system correctly and in a timely manner.
• Ensure all expenditure items:
  • Meet the eligibility criteria as defined in the IFAD financing agreement,
  • Are supported by adequate documentation (invoice, contracts, evidence of payments etc.).
• Ensure all project records are properly filed in a systematic way and that proper back up is maintained.
• Ensure the timely preparation of quarterly and annual consolidate financial reports in agreed format including:
  • Sources and uses of funds statement, including incurred expenditures by component, expenditure category and financier,
  • Variance report (actual versus budgeted expenditures),
  • Designated account reconciliation statement,
  • Withdrawal application - statement of expenditure,
  • Fixed asset register, vi) contract register etc., for submission to the Regional Technical Committee, Lead Project Agency and IFAD,
• Ensure monthly bank account reconciliations are prepared in a timely manner and reconciliation items are promptly followed up on.
• Lead tho process of contracting an external audit firm to conduct an independent audit of the annual project accounts, ensuring that annual audits are carried out within the specified time-frame and ensuring the project auditors have access to all necessary files.
• Monitor the financial performance of the State Project Coordination Offices (SPCOs) including:
  • Justification of advances, reporting of expenditures, financial reporting, audit process and audit findings.
• Supervise and coordinate the work of staff placed under his/her direct authority.
• Review and regularly update the Financial Procedures Manual of the project.
• Develop together with the project accountants the accounting manual of the SPCOs.
• Organize and supervise RPCO office, assets, including tagging of all assets, maintaining an up to date fixed asset register and conducting an annual inventory exercise.
• Take active part in the consolidation of progress reports for submission to NDDC, IEAD, FMoF, FMPB and the participating states.
• Undertake any other activities assigned by the Project Coordinator.

Reporting and Location

• The position will be in the RPCO located in Port Harcourt. The FC will report directly to the PC.

Qualifications and Experience

• Minimum of 10 years’ post-professional experience, at least 8 of which must be in management.
• A professional qualification (FCA, ACA, FCNA, CNA) with at least 15 years of post- qualification experience, at least 8 of which must be in management.
• A minimum of 8 years’ experience in management team of IEAD- assisted or donor funded projects.
• Good interpersonal relationship, transparently honest, team worker and possess ability to train counterparts; and must be healthy and fit to undertake extensive filed visits.
• Member of Financial Reporting Council of Nigeria, with strong working knowledge of both national and international accounting procedures.
• Strong computer skills, spread-sheets, and other relevant accounting packages.
• Working knowledge of banking and financial control procedures.
• Excellent written and spoken English.