Financial Management Specialist

The main duties of the PIU Financial Management Specialist include but not limited to the following:
- Ultimate responsibility for the Project financial accounting, management and reporting;
- Responsible for setting up the Project financial, accounting and reporting cycles (including installation of a functional accounting software) to ensure the readiness of the FM arrangements;
- Supervision and direct execution, guidance and further support of the activities specified in Project Operations Manual and other project-related documents;
- Receive, review and summarize the transactions and reports over project activities and performance and preparation of on/off-line reports and data on actual utilization of the Project funds;
- Work with World Bank's Client connection online system for funds disbursement, payments and etc.;
- Preparation of quarterly unaudited interim financial reports prepared in accordance with IPSAS Cash Basis standard and Statement of Expenditures and ensure their timely submission to the World Bank in the form and content agreed with the World Bank and other reports in line with international standards, and where necessary local standards;
- Prepare timely withdrawal applications for the Loan Disbursement via e-Disbursement World Bank Module;
- Use the World Bank's Client Connection platform in project-related operations to provide transparent financial management;
- Prepare and timely submission of the annual project financial statements as per the World Bank requirements, make annual project financial statements ready for audits. Coordinating, in due and required consultation and coordination with accountant of the PIU and the World Bank the replenishment of the current soum and designated foreign currency accounts using credit (and other relevant) funds;
- In close collaboration with PIU other units and staff, develop and approve the Project expenditures budget, budget estimate, including the complete breakdown of expenditures according to the applicable requirements;
- Manage Project budgeting according to respective implementation and procurement plans, approved budget ceilings (cost estimates, etc.);
- Organize and ensure budgetary control (execution of the budget, utilization of funds, bottlenecks for overall budget performance, etc.), and the provision of timely payments;
- Open and manage the Project designated account(s) (including Project other sub-accounts as may be requested for project implementation, e.g., UZS account), and ensure timely and duly reconciliation of the accounting, bank, and other records (financial obligations, performance of contractual obligations, etc.) with Project counterparts;
- Ensure accounting of Project expenditures in compliance with the procedures of the World Bank and legislation of the Republic of Uzbekistan;
- Coordinate the preparation of the documents for participants, suppliers and contractors, and regularly receive advance to Designated Account to be able to conduct payments on time;
- Due and timely manage the preparation of the documents and reports for the Ministry of Finance and other state agencies as may be prescribed by local legislation requirements;
- Prepare and submit Statement of Expenditures in the form and content acceptable to the Bank at least quarterly;
- Perform monthly reconciliations between the designated account(s) balance recorded on bank statements and local cash book balance, recorded on the system;
- Provide operational and strategic support to the PIU staff on managing and running the PIU activity to ensure timely and due preparation of the project activities and deliverables;
- Review and control:
• procurement orders, ensuring their compliance with the budget;
• financial activities and payment terms on all contracts prior to their signing;
• invoices for payment after receiving of acknowledging documents on the terms of a contract;
- Ensure timely and due arrangements and support for the audit of project and project accounts as per requirements acceptable to the World Bank, following up with all audit recommendations and actions to resolve the issues raised in the Management Letter, ensuring timely submission of audit reports to the World Bank;
- Ensure proper and due records management and records-keeping of the Project documentation as per requirements of the World Bank and local legislation;
- Work closely with Forestry Agency's staff, Ministry of Economy and Finance, Ministry of Investments and Foreign Trade, and other state agencies and local authorities involved in the Project implementation, as well as with the World Bank on all the issues of Project financial management in agreement with Forestry Agency;
- Supervise and ensure due annual and other inventory of procured goods and services;
- Participate in the FM and disbursement related training s and workshops as may be organized by the World Bank;
- Other relevant duties as requested.

​​​​​​​- Higher Education in Accountancy, Finance, Economics, or relevant equivalent.
- At least 3 years at the similar role in a public or private organization. Prior work experience at organizations implementing investment projects financed by IFIs is preferable.
- Excellent knowledge of Uzbek and/or Russian. Working English fluency is a must.
- Familiar with National Accounting Standards, knowledge of International Financing Reporting Standards is required.
- Strong skills in 1C-Accounting system - experienced user.
- Knowledge of local regulation requirements in accounting and taxation is required.
- Knowledge of international development partners' projects implementation regulation will be an advantage.
- Ability to communicate effectively, verbally and in writing.

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