Project for Strengthening Public Financial Management

REQUEST FOR EXPRESSIONS OF INTEREST

(INDIVIDUAL CONSULTING SERVICES)
 

COUNTRY:                        Federated States of Micronesia (FSM)

NAME OF PROJECT:       Project for Strengthening Public Financial Management (P161969)

GRANT NO.:                     IDA-D3240

Assignment Title:           Financial Procedures Manuals Specialist

Reference No.:                 FM-DOFA-474205-CS-INDV
 

The Federated States of Micronesia has received financing from the World Bank toward the cost of the Project for Strengthening Public Financial Management and intends to apply part of the proceeds for consulting services.

The consulting services (“the Services”) are to draft and/or update financial procedures manuals to incorporate procedures and/or processes introduced with the newly implemented financial management information system

The detailed Terms of Reference (TOR) for the assignment can be found at Annex 1 below and at the following website: https://dofa.gov.fm.

The Department of Finance and Administration now invites eligible individuals (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (attach curriculum vitae with description of experience in similar assignments, similar conditions, etc. and the details of two references). The criteria for selecting the Consultant are:

Mandatory Qualification and Experience:

1. Undergraduate degree from an accredited university in business administration, accounting, or related field.
2. Minimum of five (5) years’ work in, or with, government sector finance and accounting entities
3. Previous experience in implementing automated information systems in the public sector and/or conducting business process re-engineering in government sector finance and accounting entities. 

Desirable Qualifications and Experience

1. Previous experience in working with U.S. government (federal, state, local) entities, or countries falling under U.S. jurisdiction
2. Qualification (current or previous) as US Certified Public Accountant (CPA)
3. Strong analytical skills in leadership, coordination, and mentoring local staff
4. Demonstrated ability to work effectively within teams with diverse cultural and multi-disciplinary background
5. Good computer skills in all MicroSoft platforms
6. Experience in working in former or U.S. territories in the Pacific

The attention of interested Consultants (including firms) is drawn to paragraph 3.14, 3.16 and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, Revised September 2023 (“the Regulations”), setting forth the World Bank’s policy on conflict of interest.

Further information can be obtained at the address below during office 0800 to 1700 hours (GMT +11, Pohnpei local time).

Expressions of interest must be delivered in a written form to the address below (in person, or by mail or by e-mail) by 5:00 p.m., Friday, March 14, 2025 (GMT +11, Pohnpei local time).

Attn: Lynda Roades

PFM Project Manager

Project for Strengthening Public Financial Management

Department of Finance and Administration

Palikir, Federated States of Micronesia

E-mail: pfm1@dofa.gov.fm

and cc to: Central Implementation Unit: ciu.pfm@gov.fm

Federated States of Micronesia

Project for Strengthening Public Financial Management (P161969)

Terms of Reference – Financial Procedures Manuals Specialist
FM-DOFA-474205-CS-INDV

LOCATION:          Department of Finance & Administration – Treasury Division

DURATION:         Contract duration of four (4) months

1. Background:

The National Government of the Federated States of Micronesia (FSM) have partnered with the World Bank (WB) to implement development activities within the FSM.  The current and pipeline portfolio includes projects in the sectors of Energy, Fisheries, Information & Communication Technology, Maritime Transport and strengthening Public Financial Management (PFM).

An objective of the project for Strengthening Public Financial Management Project is to improve the completeness, reliability and timeliness of financial reports of the National and four State Governments of FSM (Chuuk, Kosrae, Pohnpei, and Yap).  The project is implemented through the Department of Finance & Administration (DoFA). 

The project has five components:

1. Strengthening the public financial management environment
2. Financial Management Information System (FMIS)
3. Revenue Management System (RMS)
4. Change management and human resource development
5. Project management

Component 1 aims to strengthen the PFM environment in National and the four (4) State governments by ensuring that the legal basis for the new FMIS (for example provision for use of digital services), and the procedural guidance for business processes governing budget formulation, budget execution and financial reporting for revenues and expenditures are internally consistent, streamlined for efficiency, and aligned with US Generally Accepted Accounting Principles (GAAP) and support the financial reporting standards of the US Government Accounting Standards Board (GASB).  

Implementation of the FMIS is underway, with a very ambitious schedule to have the new system fully deployed by June 2025.  Procedure manuals, updated to reflect the new functionality of the FMIS.  The Government of FSM is seeking to engage an experienced Financial Procedures Manuals Specialist to work as part of the project team to support a successful transition from the legacy FMIS to the new system.

1. PURPOSE AND OBJECTIVE OF THE ROLE

The purpose of the role is to assure that the end users have authoritative operational (procedural) guidance to transition smoothly from the legacy system to the new FMIS. 

1. SCOPE OF SERVICES

The Financial Procedures Manuals Specialist will work in coordination with the Finance Advisor in the Treasury Division, as well as the Treasury Advisor, the US GASB Advisor, the HRD Advisor, and the FMIS vendor to:

1. Perform a comprehensive, step-by-step procedure analysis to outline business processes for annual planning,  budget formulation, non-tax revenue collection, accounting, internal controls, payroll, fixed assets, liabilities (including debt), cash management and financial reporting for each government (National and four States) reflecting re-engineered business processes introduced by the new FMIS and transition to a paperless environment.
2. Develop procedures manuals with detailed guidance for budget formulation, accounting, internal controls, payroll, fixed assets, liabilities (including debt), cash management and financial reporting for each government (National and four States)to reflect re-engineered business processes introduced by the new FMIS to increase efficiency through increased automation and reduced manual/paper processes.  The procedures manuals should include templates for any forms used in the respective financial management areas.
3. Based on the procedures manuals, draft instructor manual and training materials covering   annual planning, budget formulation, non-tax revenue collection, accounting, internal controls, payroll, fixed assets, liabilities (including debt), cash management and financial reporting.

In carrying out the work, the consultant will consider: existing procedures manuals, the Business Process Design and Chart of Accounts Report (2019), the newly developed Unified Chart of Accounts/Budget Classification, manuals and guidance related to the new FMIS, and other relevant documentation; carry out process walkthroughs and inquires of relevant stakeholders, and; validate the procedures delineated in the draft manuals with relevant stakeholders.

1. OUTPUTS

1. Procedures manuals with detailed guidance for annual planning, budget formulation, non-tax revenue collection, accounting, internal controls, payroll, fixed assets, liabilities (including debt), cash management and financial reporting for each government (National and four States)
2. Comprehensive outline of accounting operational procedures, to include any specific due-diligence review processes specific to approval levels
3. Draft Model Accounting Manual and adaptations where necessary to reflect unique procedures for National and State Governments
4. Draft Instructor Manual and training materials.

1. QUALIFICATION AND EXPERIENCE REQUIREMENTS

The prospective candidate shall be an experienced advisor with a background in US GAAP and a basic understanding of US GASB reporting standards.  The position will require coordination and negotiation resources across multiple stakeholders in order to achieve positive project outcomes.

Mandatory Qualification and Experience:

1. Undergraduate degree from an accredited university in business administration, accounting, or related field.
2. Minimum of five (5) years’ work in, or with, government sector finance and accounting entities
3. Previous experience in implementing automated information systems in the public sector and/or conducting business process re-engineering in government sector finance and accounting entities. 

Desirable Qualifications and Experience

1. Previous experience in working with U.S. government (federal, state, local) entities, or countries falling under U.S. jurisdiction
2. Qualification (current or previous) as US Certified Public Accountant (CPA)
3. Strong analytical skills in leadership, coordination, and mentoring local staff
4. Demonstrated ability to work effectively within teams with diverse cultural and multi-disciplinary background
5. Good computer skills in all MicroSoft platforms
6. Experience in working in former or U.S. territories in the Pacific

1. DURATION, LOCATION and CONDITIONS of ASSIGNMENT

The position is a full-time position in Palikir, State of Pohnpei, FSM.  Domestic travel to other states will be required from time-to-time.

The position is an integral part of the Project Implementation Unit, and will report to the Assistant Secretary Treasury and the PFM Project Manager.

The duration will be until the end of the project in August 2025.