Financial Management Specialist for Joint IsDB/ ISFD/ GPE Smart-ED Project

Terms of Reference for Financial Management Specialist

1. Background

The Republic of Uzbekistan has secured financing from the GPE-ACG SmartEd Initiative of the Islamic Development Bank and Global Partnership for Education for the Joint IsDB/ISFD/GPE Smart-ED Project. The project aims to improve the quality and efficiency of education services in Uzbekistan over a 60-month duration. It focuses on enhancing the learning environment, strengthening the education system, and implementing an inclusive competency-based education system to improve student outcomes. The project includes components on access to inclusive education, quality improvement in general and preschool education, project management, financial auditing, and emergency response.

A dedicated full-time Project Implementation Group (PMU) will be established within the Ministry of Preschool and School Education of the Republic of Uzbekistan (hereinafter called “Executing Agency”) to ensure efficient management and implementation of the Project within its approved scope/ timeline. The Executing Agency is recruiting a Financial Management Specialist who will function under the overall supervision of the Head of PMU.

2. Objectives of the Assignment

The Financial Management Specialist will be responsible for all financial management, accounting, and reporting functions of the project, ensuring compliance with IsDB’s guidelines and national regulations. The role aims to maintain transparency and accountability in the financial operations of the project.

3. Scope of Work

The scope of work of the Financial Management Specialist will include but not be limited to:

• Financial planning, management and reporting
• Audit and Compliance
• Disbursement and Reconciliation

Specific tasks to be implemented by the Financial Management Specialist will include but are not limited to:

• Maintain project financial statements and accounting of all financial resources within the framework of the Project;
• Approve and sign off of all financial documents of the Project, including banking, cashier documents and documents related to salaries, and is fully responsible for the correct, reliable submission of financial documents for signing to Head of PMU;
• Ensure proper and targeted use of project funds in accordance with the requirements of the legislation of the Republic of Uzbekistan and the IsDB;
• Timely preparation of annual financial plans and cost estimates jointly with other Project team;
• Participate in planning, budgeting for the implementation of the Project;
• Organize necessary conditions for the comprehensive functioning of the project accounting;
• Prepare all project payments orders and internal vouchers for the project;
• Prepare transactions related to wages, travel, advance payments and maintenance of advance accounts;
• Verify invoices and other payment documents for compliance with the contract terms and agreements;
• Control and authorization of all banking and cash transactions;
• Correctly fill out all financial documents (bank, cash, invoices, payment documents, travel documents, advance invoices, etc.);
• Maintain regular accounting of fixed assets purchased during the Project implementation;
• Prepare the Quarterly Interim Unaudited Financial Reports (IFRs) and their timely submission to the IsDB;
• Perform monthly cash and bank reconciliations;
• Control preparation of monthly, quarterly financial reports and quarterly reports to the relevant government agencies.
• Prepare and submit of tax reports to the Tax Committee and the local tax authority;
• Prepare other additional reports and information, as necessary, for the Ministry of Finance and other government agencies related to investments;
• Manage external audit of project financial statements and follow-up on audit recommendations;
• Implement other instructions of the Head of PMU related to Project financial management.
• Manage disbursement processes and ensure timely submission of withdrawal applications to IsDB.

4. Deliverables

The Financial Management Specialist is expected to deliver the following:

1. Comprehensive annual financial statements.
2. Interim Unaudited Financial Reports (IFRs) in accordance with IsDB’s guidelines.
3. Audit reports and responses to audit recommendations.
4. Monthly financial activity reports and reconciliations.
5. Updated project financial records.

5. Essential Skills, Experience and Qualifications

• Higher education in Accounting/Finance/Business management/Public Administration; a post graduate degree will be an advantage;
• Minimum of five years of professional experience in project financial management and accounting;
• Experience in donor-funded projects is an asset; knowledge of IsDB requirements will be preferable;
• The ability to supervise accounting and other financial functions, and report relevant financial information to the various project stakeholders;
• Sound knowledge of government of Uzbekistan’s accounting and financial management system;
• Strong computer skills and practical experience with the 1C Accounting Software;
• Strong communication skills;
• Fluent in English and Uzbek languages, knowledge of Russian is an asset.

6. Competencies

• Communication skills: the ability to communicate appropriate, concise and accurate information in written and verbal formats;
• Concern for accuracy and attention to details: the ability to ensure and maintain a high degree of accuracy and quality in work, including work under pressure and multiple assignments;
• Problem solving: ability to make reasonable judgment and take initiative in all operational processes and propose practical and realistic solutions to address them;
• Planning and organizing: ability to operate independently with minimum control, prioritize and schedule workload. Effectively manage high volume of multiple tasks;
• Team work: building effective communication and relationships both within and outside the team. Sharing knowledge, information and best practices with others;
• Results orientated: ability to ensure the goals and operational targets are achieved and exceeded;
• Сonstantly seeking to improve operational processes.

7. Contractual conditions

• The duration of the contract will be 12 (twelve) months starting from the contract signing date and renewable annually based on the Financial Management Specialist’s performance and project needs;
• Financial Management Specialist is expected to work full time (office hours);
• Wages will be paid monthly in accordance with the salary scale agreed between the IsDB, Ministry of Preschool and School Education and Ministry Economy and Finance.
• The position may require travel to project sites within Uzbekistan. Travel expenses such as daily allowance, accommodation, etc. will be reimbursed in accordance with the relevant procedures;

The place of work of the Financial Management Specialist - Tashkent city.

8. ​​​​​​​Required documents:

• CV and cover letter in Russian or English;
• University diplomas along with translation into English;
• Two reference letters from the most recent employers;

9.​​​​​​​ Guidelines and Compliance

The Financial Management Specialist will operate under the following guidelines:

• Terms of the IsDB financing agreement.
• IsDB’s guidelines for financial management and disbursement (April 2019 edition, revised February 2023).
• Relevant national accounting, taxation, and financial regulations.