Title: Financial Specialist
Duty Station: ARA/EU Project, Kabul
Objective/Purpose of the Assignment:
Railways are a vital mode of transportation to facilitate domestic and regional connectivity and can also significantly contribute to economic growth and help promote a market-led economic environment that fosters private sector participation. After decades of conflict which has severely damaged Afghanistan’s transport infrastructure, Afghanistan has an urgent need for an upgraded national transportation system as a precursor to economic development and to support political stability in the country. The expansion of Afghanistan's current national railway system will ultimately allow Afghanistan to export minerals and agricultural products and will significantly enhance its position as a regional trading partner by linking it to products, consumers and markets across Eurasia and beyond, as well improving internal lines of communication within the country. A successful development and operation of Afghanistan railways bears a tremendous opportunity to create new and support existing prospects for the economic growth not just for the country but also for the neighboring countries from the central and south Asia.
One portion of the financing supports to strengthen the institutional capacity building of the Afghanistan Railway Authority (ARA). This component will be referred to as the ARA capacity building project (the project).
This position will aim at strengthening the capacity and performance of the ARA team/assigned group in delivering the EU project components and eventually managing the capacity building of the current Finance team through this technical assistance. He or she will be responsible for managing the grant resources to meet the envisaged objectives and expectations.
Scope of Work:
The Financial Specialist will manage, guide, lead, motivate and push the team for high performance, so that the team can do the payments on time, do revenue collection and reporting on time, and in compliance with ADB/IRoA laws & financial policy manuals.
• Support the Deputy ARA Finance/Admin in providing guidance to activities related to financial management and in compliance with IRoA/ADB.
• Advise and contribute to the development of financial management policies and procedures for the ARA.
• Advise and contribute to the development of revenue collection mechanism complying with RMIS based on his/her finding and suggestion of the ARA team which should boost accountability and transparency.
• Provides guidance to the development and management of internal financial audits
• Provides guidance and advice to the development of the formal reporting system to communicate results of audit activities to management and regulatory compliance team and to the donor
• Make recommendations and apply effective and best practices of financial management and systems at the ARA
• Build capacity of ARA financial staff in financial management and financial risks.
• Monitor the day-to-day financial operations, such as payroll processing, vendor invoicing, management of receivables-payables and other operational transactions i.e. health and other sector financial claims etc.;
• Oversee financial department employees and to guide & direct them on their roles and responsibilities to achieve the objectives of the department and ARA;
• Contract outside services for tax preparation, auditing, banking, investments, and other financial needs as necessary;
• Track the ARA’s financial status and performance to identify areas for potential improvement;
• Providing and interpreting financial information;
• Analyzing changes and advising accordingly;
• Ensuring compliance with required financial controls available;
• Seek out methods for minimizing financial risk exposure to ARA/ADB;
• Provide insightful information and expectations to senior executives to aid in long-term and short-term decision making and planning.
• Review financial data and prepare monthly, quarterly, half yearly and annual reports with in the time frame communicated by the stakeholders and to train the team for achieving those in future.
• Developing external relationships with appropriate bodies, e.g. auditors, solicitors, bankers and statutory and regulatory organizations (income tax authorities, CBR department, and the regulator;
• Ensure and observe the team to pay all the taxes (Wage withholding taxes, rental taxes, contract’s taxes, BRT etc.) on timely basis to avoid any related penalties imposed by Income Tax Authorities of Afghanistan.
• Ensure monthly, quarterly and yearly reporting requirements of the regulator within due time period communicated.
• Ensure to prepare and maintain all underlying accounting and other record properly all the times.
• Ensure to prepare all the reconciliation on monthly basis (bank reconciliations, written business reconciliation, reconciliation with the related parties etc.)
• Stay up to date with technological advances and accounting software will be used for financial purposes in the future.
• Establish and maintain financial policies and procedures for ARA on identified or missing areas.
• Understand and adhere to financial regulations and legislation (income tax law, insurance law and other major laws and regulations etc.)
• Advise on managing the annual budgeting cycle,
• Monitoring and interpreting cash flows and predicting future trends,
• Any other general or specific given on time to time basis requirements identified by the stakeholders.
Under guidance, and management by the specialist, the team will be trained and motivated for doing the tasks on time, effectively, and in full compliance with ADB/ARA policy and procedures.
The candidate will report to Deputy ARA Finance/Admin & Project Manager.
Minimum Qualifications Requirements
- Master’s degree or International Equivalent in Business Administration, Finance, or related field.
- CPA, ACCA, CFA, Certification preferred
- Minimum of 8 years of relevant experience in financial management, CFO a related field
- Past experience in managing a finance department is required
- Ability to provide strategic advice to the team, exchange information and collaborate with colleagues and peers within and outside the organization
- Must have excellent communication and analytical skills.
- Fluency in English and fluent in both Pashto/Dari.
Interested applicants shall apply online through the link provided below.
Applicants who don’t apply online, will not be shortlisted.