Higher Education Commission - Tertiary Education Support Program (TESP)
Terms of Reference and Job Specifications for appointment of
Financial Management Specialist
Background:
To enhance the capacity of Pakistani institutions of higher learning to produce high quality graduates,
support innovation, and improve the overall governance and management of the higher education
sector, the Higher Education Commission is implementing government’s agenda of reforms for which
the World Bank is also extending its support. One Component of the Bank’s support will be for technical
assistance and capacity building activities to address both policy design and capacity constraints to
support the targeted changes for the higher education sector in Pakistan.
Objective:
The HEC embarked upon reforms to improve the financial management and accounting systems across
the higher education sector in order to enhance transparency, quality and reliability of financial
information, comprehensiveness and timeliness in financial reporting. HEC and the majority of public
universities/HEIs are autonomous bodies with financial and administrative autonomy. Under its agenda
of reforms covering next 5-years period, HEC aims to continue reforms in the area of Financial
Management at Universities/HEIs. HEC is planning to carry out several studies and surveys with an
objective to have detailed identification of areas requiring interventions to facilitate the adoption of
New Accounting Model (NAM) principles and eventually lead to preparation of IPSAS (NAM) compliant
financial statement by all Higher Education Institutions (HEIs).
Main duties and responsibilities:
HEC needs services of an experienced and qualified public Financial Management Specialist to help HEC
carry out following tasks;
1. A study to be carried out in selected public HEIs to review FM and internal control systems
consistent with international best practices (such as COSO principles). This study will cover
funds flow, organizational structures, budgeting, accounting policies and procedures, financial
reporting and audit effectiveness (both internal and external).
The output includes
development of a good practice model which will service as a benchmark for developing
institution specific improvement plans.
2. A review of tertiary expenditure system vis-a-viz institutional productivity such as scorecard of
enrolment, graduates produced, per student cost, faculty student ratio, local and international
publications with impact factor, research and its practical application; and to design and
implement policy reforms and its monitoring system.
3. In order to maximize the use of the allocations passed on to HEIs, HEC will support completion
of a public expenditures tracking survey (PETS) with a special emphasis on key programs.
4. The FM specialist will also be required to comply with financial management and reporting
requirements of the World Bank under its support project ‘Tertiary Education Support Project’.
5. Identification of Capacity Building needs and preparation of training plans/programs on
Financial Management and other associated areas for staff at HEC and HEIs/TEIs.
6. The above statements are intended to describe the general nature and level of work to be
performed by the intended Financial Management Specialist.
Qualification and Experience:
Masters Degree (at least 2nd Division) in Finance, Accounting, Commerce or ACMA/FCMA or CA from an
HEC recognized University/Institute
Should possess 8 years of practical experience in public financial management environment on
independent higher level assignments. Proficiency in Financial Reforms Programs will be an added
advantage
Proficiency in using information technology tools will be required
Knowledge and Skills:
Knowledge of ERPs like SAP and Management Information Systems with hands on command on
Microsoft Office tools is necessary. Excellent oral and written communications skills. Prior experience
with donor-funded projects and practical experience in applying NAM and SAP will be given preference.
Reporting to:
Program Coordinator of TESP Program
Place of Duty:
Islamabad
Salary:
Commensurate with credentials and experience.
Nature of contract:
Two years contract extendable till completion of the project,
based on assessment of performance.
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