Entrepreneurship in the territories: is it the right time?
Background
PEMSEA (Partnerships in Environmental Management for the Seas of East Asia) is a regional cooperation mechanism whose mission is to promote sustainable development of coastal and marine areas. It comprises of 11 country and 22 non country partners in the East Asian Seas region who are committed to implement a joint regional strategy called the ‘Sustainable Development Strategy for the Seas of East Asia’ (SDS-SEA). The PEMSEA Resource Facility serves as the technical and secretariat arm of the Partnership.
Finance Unit is responsible for financial management; issuance of statutory reports, preparation of donor reports, support to and monitoring of all financial and accounting matters in the implementation of the SDS-SEA. of, management of corporate accounts and continuous review and development of financial policies and procedures. Finance Unit also plays a key role in the custody and distribution of financial resources, monitoring of expenditures and strengthening of on-going compliance with the international standards.
Duties and Responsibilities
Under the supervision and guidance of the Executive Director, the PEMSEA Finance Manager is responsible for providing a range of financial management support activities to the PRF. THE PEMSEA Finance Manager will lead PEMSEA Resource Facility Finance and Accounting Services. He/She will carry out its duties and responsibilities detailed as follows:
I. Financial Management (50%)
• Provide general supervision and management of the day to day financial and accounting affairs of PRF consistent with the decisions requiring prior approval of the Executive Director.
• Assists the Executive Director to ensure the development of an annual operating plan, operational requirements and budgets that support the strategic plan of PRF.
• Assists the Executive Director to ensure the implementation of the annual operating plan consistent with the strategic direction, financial limits and operating objectives approved by the Executive Council.
• Ensure appropriate policies and procedures are developed, maintained, approved and implemented.
• Review and propose update/revision of policies and procedures in light of changing circumstances for the purpose of complying, streamlining and strengthening of existing financial and budgetary procedures
• Ensure proper books of accounts have been maintained and that operation and computer controls are in place. The system of internal control is sound in design and has been effectively implemented and monitored. Ensure that internal controls are functional and adequate, and that they comply with relevant regulatory rules and ensure that there has been no material departure from the best practice of code of governance as detailed in PEMSEA quality management standards. policy framework.
• Administers and monitors extra-budgetary resources, including review of agreements, contracts and budgets, ensuring compliance with regulations and established policies and procedures.
• Ensures that PRF financial resources are utilized based on established indicators and adherence to resource planning framework on cost sharing agreements with country and non-country partners.
• Collects information on cost sharing apportionment, consolidates the information and prepares the apportionment summary.
• Examine various kinds of payments and supporting documents for accuracy and completeness, timely processing and recording of disbursements; payments are in accordance with established rules, regulations and policies within budgetary limits. Ensures that all payments comply with the terms and conditions with the approved project documents and agreements.
• Ensure that relevant documentations are available with respect to budget performance.
• Coordinate along with the internal auditor for statutory auditing.
• In charge of the PEMSEA Audit Committee Secretariat.
II. Financial Reporting (25%)
• In coordination with the Executive Director, establish and maintain PRF’s internal controls over financial reporting through appropriate policies and procedures.
• Prepare accurate and timely project financial reports and statements in accordance with the approved project documents and agreements. Monitors financial transactions and accounting records to ensure updated financial status report for projects funded by GEF and other funding/donor agencies, including corporate accounts.
• Perform analysis and reconciliation of PRF and project accounts. Ensure that proper supporting documentations and budget codes are posted correctly.
• Liaise with internal and external auditors; draft management responses to audit observations; provide justification for financial management issues which become the subject of audit observations; respond to audit recommendations and implement audit recommendations.
• Controls and operates bank accounts in accordance with the approved financial rules and regulations and banking practices; provide up to date cash position/status of funds, reconcile bank accounts.
• Prepare PRF’s financial statements in accordance with international financial reporting standards and regulatory bodies.
• Interact with partners/clients; internal and external to integrate and harmonize approaches in the area of financial management and operation.
III. Programme Support (25%)
• Provide training and technical support for new and existing users of automated accounting system(; manage and secure the integrity and completeness of the information inside the system. Generate reports and perform system processed consolidation of budget and expenditure report.
• Updates PRF staff regarding revisions of financial guidelines and procedures from project donors.
• Coordinates in the development and implementation of programme goals, objective and related annual audit and work plans.
• Coordinates with technical officers in the preparation of budget for all project activities and components. Provide technical support on budgetary and financial rules that applies to the operative project management and delivery of services.
• Assists in budget preparation to ensure compliance with financial rules and regulations and in accordance with procedures and budgetary guidelines of funding /partner agencies.
• Plan, organize, direct and coordinate activities of multiple projects and resources; coordinates and monitors programme’s financial components in collaborative projects.
• Provide guidance and support to project sites on financial concerns adherent to financial rules and regulations.
• Member of the PEMSEA Contracts and Procurement Committee
