Project Implementation Unit (PIU) Project Accountant at the Development Bank of Nigeria (DBN)

The Development Bank of Nigeria (DBN) was conceived by the Federal Government of Nigeria (FGN) in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria. Our objective is to alleviate financing constraints faced by MSMEs and small Corporates in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.

We are recruiting to fill the position below:

Job Title: Project Implementation Unit (PIU) Project Accountant

Location: Abuja

Background 

• The Development Bank of Nigeria (DBN) is a Wholesale Development Finance Institution licensed and supervised by the Central Bank of Nigeria, with the objective of addressing the access to finance gaps of underserved Micro, Small and Medium Enterprises (MSMEs) in Nigeria. With business and governance models based on internationally recognized good practice and substantial commitment of capital, the DBN performs a catalytic role with potentially transformational impact by facilitating financially sustainable and transparent access to finance for underserved MSMEs.
• This is achieved by supporting the development of diverse lending products, including the provision of medium – and long-term loans in local currency (Naira) and partial credit guarantees (through its wholly owned subsidiary Impact Credit Guarantee Limited) provided to eligible Participating Financial Institutions (PFIs), with a view to expanding their outreach to MSMEs and, to a limited extent, small corporates.
• The DBN is registered as a public limited liability company and is regulated, licensed, and supervised by the Central Bank of Nigeria (CBN). The operations of the DBN are being supported by funding provided by the World Bank and other development partners, namely: the African Development Bank (AfDB), the German Development Bank (KFW), the French Development Agency (AFD) and the European Investment Bank (EIB).
• A proportion of DBN’s funding is allotted towards providing Technical Assistance (TA) and Capacity Building projects to its clients –the PFIs, aimed at strengthening their capacity to offer products and services to the MSMEs, broaden their lending portfolios and ensure their profitability under terms consistent with market standards.
• For effective management of these project funds, a Project Implementation Unit (PIU) has been established within the Bank, responsible for overseeing implementation of the TAs, associated projects, management of project funds and ensure successful delivery of all project objectives.

Objective of the Assignment

•  The DBN seeks to engage an individual professional Accountant to perform the role of the PIU Project Accountant.
• The PIU Project Accountant shall be responsible for establishing and maintaining a financial management system for the implementation of project funds, including budgeting, accounting, internal controls, financial reporting, audits, compliance with required donor requirements and procedures, and liaising with the Project Manager on all financial matters relating to the projects.

Scope of Work

• Maintenance of all accounting records in line with approved accounting standards and with the Donors’ requirements and Government regulations.
• Render periodic reports (i.e monthly/semesterly/annually) in the formats, content and frequency acceptable to DBN and Donor requirements.
• Draw up annual budgets and work plans together with the PIU Manager.
• Ensure prompt release of approved funds to beneficiaries.
• Liase between DBN and PIU on financial matters.
• Maintain relevant books and records for the Projects.
• Ensure that all accounting records are updated promptly.
• Prepare monthly Bank reconciliation statements for all accounts on all the projects.
• Together with the PIU Management, maintain, develop and update the Financial Procedures Manual on a regular basis.
• Ensure strict adherence to internal control systems for areas of project operation.
• Prepare cash flow projections and expenditure forecasts as well as maintain records of all funds inflows and payments.
• Coordinate any audit processes conducted on the PIU.
• Liaise with internal/external auditors to follow up on audit queries/management letters.
• Mentoring and on the job training of other support accounting staff.
• Perform any other duties assigned by the Project Manager.

Conduct of Work and Duration of Assignment:

• The Consultant will be offered a contract with a duration of twelve (12) months on a fulltime basis, renewable based on satisfactory performance and need. The Consultant will be required to report at the DBN Head Office based within the DBN approved work hours.
• Reporting Obligations: The Individual Project Accountant shall work under the direct supervision of the Project Manager. He/She shall also report to the PIU Project Coordinator, the PIU Management team and the DBN. Regular progress reports shall be prepared by the Project Accountant in the forms and reporting periods yet to be agreed; these progress reports include but are not limited to monthly cost reports, interim financial reports, quarterly board reports, annual financial reports. etc.
• Payment Schedule: For the duration of the engagement, the Consultant shall be renumerated on a monthly basis with an amount yet to be agreed. This yet to be agreed amount multiplied by the intended 12-month engagement period shall cumulate and form the total contract sum.

Required Qualification and Experience
The following are minimum requirements for candidates applying for the role of the Project Accountant:

• A professional accounting certification (ICAN, ACCA, CPA or equivalent); with at least three (3) years post professional qualification experience.
• At least three (3) years’ experience in the implementation of financial management for International Donor projects.
• Proficiency in Information technology skills such as MS Office (Word, Excel, PowerPoint) accounting software and internet navigation.
• Excellent numerical and analytical skills.
• Fluency in spoken English and excellent written English skills.

Application Closing Date
6th September, 2024.

Method of Application
Interested and qualified candidates should send their Resume to: [email protected] using the Job Title as the subject of the mail.