Financial Management Specialist/Accountant

The Government of Mongolia (the Client) through its Ministry of Education and Science, has received financing from the Asian Development Bank towards the Support for Inclusive Education Project.

The objective of the project is to improve access to and quality of mainstream education for CWD in Mongolia by improving accessibility features in selected mainstream schools and kindergartens; building capacity to deliver inclusive education; and strengthening inclusive education support resources, community engagement, and policy.

The financial management specialist/accountant will have a university degree in accounting, financial management, or other relevant disciplines and will have at least 5 years of demonstrated experience with managing financial transactions and project assets and preparing withdrawal applications, financial reports, and projections under projects funded by IFIs, including ADB. Accountant qualifications, proven understanding and knowledge of the laws and regulations of the Government of Mongolia as well as ADB policies, guidelines, and procedures, written and oral English proficiency, strong communication and interpersonal skills, and computer skills are required.

Under the direction of the project coordinator, the financial management specialist/accountant will work closely with the contractor and implementing agencies and the Ministry of Finance. Specifically, the financial management specialist/accountant will

  1. ensure that project assets are properly managed and spent in accordance with ADB rules and regulations, as well as in accordance with the requirements of the Government of Mongolia, in accordance with accounting, budget, financial control and audit procedures;
  2. ensure that all expenditures incurred under the project are properly recorded in the ledger and that all expenditures are properly authorized on the appropriate vouchers and accompanied by appropriate original receipts; report discrepancies to the project coordinator and make corrections as required;
  3. prepare detailed accounting procedures to ensure effective management and control of grant funds and assets;
  4. manage all financial transactions and disbursements in coordination with the executing and implementing agencies and the Ministry of Finance, and in compliance with financial covenants of the loan agreement and ADB’s Loan Disbursement Handbook; 
  5. collaborate with other specialists and consultants;
  6. allocate the amount of the service contract in accordance with the rules approved by the Ministry of Education and Science;
  7. prepare a regular budget in line with planned project activities;
  8. maintain project bank account(s);
  9. assist the procurement specialist in procuring an integrated financial management software and install it in the PIU computer; develop a financial management system for the project to ensure that the project financial management system conforms to ADB’s requirements and the national accounting standards, rules and regulations; and develop a project assessment management system for the Project to keep track of the project assets;
  10. maintain necessary financial statements in accordance with the accounting laws and regulations issued by the government in accordance with international accounting principles and practices, and prepare detailed consolidated financial statements for the project;
  11. prepare a quarterly report on the implementation and disbursement of the project fund and attach it to the quarterly project report;
  12. use special software to prepare financial statements that meet ADB requirements and maintain paper versions of those statements;
  13. prepare regular financial statements and timely financial information required for internal and independent audits;
  14. ensure timely and accurate accounting of all financial transactions;
  15. prepare funding requests and supporting documents in accordance with ADB guidelines and government regulations;
  16. maintain financial statements in accordance with ADB and government guidelines;
  17. review invoices and contracts as part of the execution and execution of payments under the relevant contract;
  18. maintain controls related to project transactions and all payment documents, invoices and other financial documents;
  19. ensure that all documents, information, and other supporting materials are securely available and ready for immediate release by ADB and auditors as required;
  20. timely process and settlement of payments to consultants and contractors, and keeping detailed records for further inquiries;
  21. ensure the implementation of the project’s financial obligations in cooperation with the contractor and implementing entities;
  22. regularly review and, if necessary, update financial risk mitigation plans;
  23. prepare financial statements to be submitted to ADB, and executing and implementing agencies;
  24. timely entry of information on financial transactions and expenditures within the project into the management information system of the Ministry of Finance; and
  25. assist project managers in preparing consolidated project financial statements and preparing for annual and final audits.

Application procedure:

All interested candidates are encouraged to submit a cover letter (maximum two pages) supported with the detailed CV, copy of diplomas or certificates and a reference letter from at least the last employer. The application deadline is 30th December 2020. Only successful candidates shall be contacted and interviewed. Please submit the applications in person or via email to the below address.

Contact Address:

Name:  Enkhbayar B. Room-212, Ministry of Education and Science of Mongolia

Address: Government Building-III, Baga toiruu-44, Sukhbaatar district, Ulaanbaatar, Mongolia

Tel: +51 260726


Show Buttons
Hide Buttons