Job Description
\n\t\t\t\t1) BACKGROUNDThe African Capacity Building Foundation (ACBF) is implementing a program onStrengthening Institutional Capacity for Strategic Partners (SPIA). The program supportsselected Africa-based institutions working in biomedical science research to strengthen theirinstitutional capacity and enhance their contribution to drug discovery, development, andinnovation on the continent.Through this program, ACBF is supporting the African Institute of Biomedical Science andTechnology (AiBST) to strengthen its institutional governance, operational systems, andmanagement frameworks. As part of this initiative, a Capacity Needs Assessment (CNA) wasconducted at AiBST to evaluate the effectiveness of its institutional systems and operationalpractices. The assessment identified several gaps requiring corrective action, includingweaknesses in financial governance. In particular, the existing Financial Management Policyand Procedures Manual was found to be outdated and not fully aligned with currentoperational requirements and best practices.Strengthening financial governance systems is essential for ensuring transparency,accountability, sound internal controls, and compliance with donor requirements. To addressthis gap, AiBST intends to engage a qualified consultant to review and update the FinancialManagement Policy and Procedures Manual to align with international best practices and theneeds of a growing research institution managing donor-funded programs.2) OBJECTIVE OF THE ASSIGNMENTThe objective of this consultancy is to review, update, and modernize the FinancialManagement Policy and Procedures Manual of AiBST in order to strengthen financialgovernance, improve internal controls, and ensure transparency and accountability in themanagement of financial resources. The revised manual should provide clear policies,procedures, and operational guidelines to support sound financial management within theinstitution.<\/p>\n
\t\t\t\tDuties and Responsibilities
\n\t\t\t\t3) SCOPE OF WORKThe consultant will undertake the following tasks:1. Review Existing Financial Policies and Procedureso Conduct a comprehensive review of the existing Financial ManagementPolicy and Procedures Manual.o Identify gaps, outdated provisions, and inconsistencies with best practices.2. Assess Current Financial Management Systemso Review financial planning, budgeting, accounting, and reporting processes.o Assess internal control mechanisms and financial oversight structures.3. Benchmark Against Best Practiceso Review financial management frameworks used by comparable researchinstitutions, universities, and international organizations.o Ensure alignment with internationally accepted financial managementstandards and Private Voluntary Organisations Act (Chapter 17:05)4. Revise the Financial Management Policyo Update financial governance structures and responsibilities.o Define financial authority levels and approval thresholds.5. Update Financial Procedureso Budget preparation and management.o Cash management and banking procedures.o Financial reporting, documentation and accountability procedureso Asset and inventory management.o Internal and external audit procedures.o Grant and project financial management.6. Strengthen Internal Controlso Define segregation of duties.o Establish financial risk management procedures.o Safeguards for online payment processing platforms (VISA\/ Credit card use)o Improve compliance mechanisms.7. Stakeholder Validationo Present the draft revised manual to AiBST management and relevant staff.o Incorporate feedback and finalize the documentEXPECTED STRUCTURE OF THE FINANCIAL MANAGEMENT MANUALThe revised manual should include, but not be limited to, the following sections:\u2022 Financial governance and oversight structure\u2022 Budget preparation and management procedures\u2022 Accounting policies and financial reporting\u2022 Cash and bank management procedures\u2022 Internal control framework\u2022 Asset and inventory management\u2022 Procurement\u2013finance coordination\u2022 Grant and project financial management\u2022 Multi-currency accounting and reporting guidelines\u2022 Financial documentation and record keeping\u2022 Internal and external audit procedures\u2022 Risk management and compliance5) REPORTING ARRANGEMENTSThe consultant will report to AiBST Operations Manager and work closely with the financeand administrative teams. Technical oversight and contractual obligations for theassignment will be provided under the institutional strengthening support of AfricanCapacity Building Foundation (ACBF).<\/p>\n
\t\t\t\tQualifications and Experience
\n\t\t\t\tREQUIRED QUALIFICATIONS AND EXPERIENCEThe consultant should possess:\u2022 An advanced degree in Accounting, Finance, Business Administration, or a relatedfield\u2022 Professional certification such as ACCA, CPA, or equivalent\u2022 At least 10 years of experience in financial management systems development\u2022 Proven experience developing or reviewing financial management policies andprocedures manuals\u2022 Experience working with research institutions, NGOs, or donor-funded organizations\u2022 Strong analytical, facilitation, and report-writing skills<\/p>\n
\t\t\t\tHow to Apply
\n\t\t\t\t) SELECTION PROCESSThe consultant will be selected based on an assessment of both the technical proposal andfinancial offer. The consultant may be required to participate in a one-on-one videoconferencing assessment as part of the technical evaluation process. The Expression ofInterest (EOI) should include:\u2022 A proposal responding to the points in this TOR with references for at least threesimilar assignments\u2022 A proposed work plan and timeline\u2022 Curriculum Vitae (CV) of the consultant(s)\u2022 A detailed financial proposal including cost breakdown. The financial proposalshould be guided by the deliverables table in section 4. It should be passworded\u2022The proposal should not exceed five (5) pages.9) SUBMISSIONThe proposal together with the requested documents should be submitted to:submissions@aibst.edu.zw The email and documents should be marked:\u201cRevision of Financial Management Policy for AiBST.\u201dThe deadline for the submission is 17 April 2026, at 17:00 CAT<\/p>\n
Click The Button Below To Download FullDocument<\/p>\n
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