Apr 12, 2021 Last Updated 11:55 AM, Mar 19, 2021

Monitoring & Disbursement Officer - Not Vacant

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Job Code: GMG/SEG 2
Closing On: Tuesday, 13th April 2021
Department: Economic Management Division
Duration:

Job Description:

Job Purpose
The incumbent has the responsibility to monitor the financing agreement for certain internationally funded projects and in particular, the disbursement/reimbursement of funds to ensure that all conditions precedent to disbursements as stipulated in the Agreement, are met. In addition, he/she will contribute to the preparation of the following reports:
  • Annual Foreign Exchange Inflows Projection Report
  • Monthly Foreign Exchange Inflows Report
  • Foreign Exchange Variance Report
Key Responsibility Areas
To process disbursement/reimbursement requests under certain externally funded projects
  • Liaise with Project Managers to ensure that claims for disbursement/reimbursement are submitted for drawdowns to Lending Agencies in a timely manner;
  • Check all disbursement/reimbursement claims to ensure that:
    • The activities undertaken are stipulated in the Agreements;
    • The amounts requested are in accordance with the financing plan as in the agreement;
    • No objection letters for contracts signed are in place;
    • The eligibility and accuracy of expenditure;
    • Those only persons authorised to sign, duly signed;
    • The necessary supporting documents accompany each application;
  • Identify and report on any form of discrepancy found in the applications in order that adjustments/corrective action can be made;
  • Consult the Project Unit, PEX regarding the expenditure of loan/grant funds to ensure that budgetary allocation is not exceeded;
  • Liaise with the Reconciliation Unit, (DMB) regarding the reconciliation of Special Accounts established at the National Commercial Bank and BOJ;
  • Submit processed applications to the supervisor with comments.
To monitor the financing Agreement of projects
  • Monitor expenditure at each stage of the projects;
  • Identify and report on projects coming to the end of the terminal date of disbursement, but are ongoing and make recommendations for extension of disbursement period  to facilitate the completion of such projects;
  • Prepare monthly disbursement report on the multilateral and bilateral portfolio;
  • Liaise with Ministries and Project Implementing Agencies to obtain reports on the status of project development;
  • Undertake site visits to assess work and clarify discrepancies that may arise from the various reports submitted;
  • Monitor the external financial flows to determine if they are in line with budget figures;
  • Attend project review meetings and prepare project review report;
  • Contribute to the preparation of draft annual financial statements to facilitate project auditing.
To project and prepare the annual foreign exchange inflows from multilateral/bilateral projects
  • Prepare a listing of all loan/grants funded projects to be included in the Annual Estimate of Expenditures;
  • Obtain from the Implementing Agencies the requested Budgetary allocation for each Capital ‘B’ Project;
  • Examine individually signed, agreement to ascertain period for project implementation; the financing plan as stipulated i.e. the categories to be financed total resource provided; external funds vs GOJ financing portion;
  • Consult with the project managers in the Project Unit, PEX to ascertain:
    • The stage the project is at
    • The pace of implementation
    • The past disbursement trends
    • The activities to be determined within the fiscal year;
  • Compile a listing of all the loan/grant balances and the implementation period;
  • Project and prepare the foreign exchange inflows for each project on a quarterly basis by using the exchange rate used in casting the annual Estimate of Expenditure after consultation with the  Fiscal Policy Monitoring (FPMU);
  • Conduct quarterly examinations to determine if projections match actual inflows and prepare variance reports as necessary.
Required Competencies
  • Good Knowledge of Budget Preparation & Budget Process
  • Good knowledge of Lending Agencies disbursement procedures
  • Good knowledge of Project Management
  • Knowledge of legislation and legal procedures including FAA Act, Loan Act, etc.
  • Working knowledge of Microsoft Office Suite including Word and Excel.
  • Good Customer Relations skills
  • Analytical ability
  • Good Problem solving and analysis
  • Good Interpersonal skills
Minimum Required Education and Experience
  • First Degree in Economics or equivalent qualification
  • Three – four years experience in a related field
Remuneration
  • Basic Salary: $2,023,418 - $2,405,208 per annum
  • Travelling Allowance: $894,924 per annum (with a motor vehicle)
        •  $362,472 per annum (without a motor vehicle)
Suitably qualified persons are invited to forward a cover letter and résumé no later than Tuesday, April 13, 2021 to:
Senior Director, Human Resource Management & Development
Human Resource Management & Development Branch
Ministry of Finance & the Public Service
30 National Heroes Circle
Kingston 4
hrapplications@mof.gov.jm
Please identify the job title of interest as the Subject

We thank all applicants for the interest expressed; however, only shortlisted candidates will be contacted.
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Send your details to:

Director Human Resource Management & Development
Ministry of Finance and Planning
30 National Heroes Circle, Kingston 4
Jamaica

Or e-mail your resumé to hrapplications@mof.gov.jm

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